China Tech Newsletter – May 12th, 2016

Weibo reports first quarter 2016 earnings results.

The advertising revenue from SMEs increased 147% year-over-year, accounting for 52% of the total ad revenue. SME advertisers more than doubled on a year-over-year basis to nearly 832,000.

weiboq116revenue

Daily video views grew 64% quarter-over-quarter and 489% year-over-year to 470 million. Weibo recently enabled video autoplay while on WiFi and launched a live video streaming feature. Currently news media and enterprises are allowed to live stream videos and the company plans to open the new feature to celebrities and verified accounts shortly.

Weibo claims 261 million in monthly active users and 120 million daily active users. 85% of monthly active users accessed the service through mobile.

Source: Weibo Inc.
Source: Weibo Inc.

Online marketplace lender Yirendai reports its first quarterly earnings since IPO.


NetEase reports 116% year-over-year increase in revenue in the first quarter of 2016. Gaming revenue grew 104.5% year-over-year.

The company was offering more than 90 mobile games in the first quarter.


China Music Corp., a Tencent-backed digital music company, plans U.S. IPO — The Wall Street Journal


Sina reports first quarter results.


Xunlei posts first quarter results.

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