Hangzhou, 29th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2022, with revenues of US$61 million. This represents a year-on-year decrease of 9.3%. Net profit in the year was US$3.3 million, which is similar to that of the previous year.

The Hangzhou-based company also released its results for the quarter ended 31st March 2023. Netsun’s revenues in the quarter grew 32% amounting to US$24 million. The company’s net profit in the same period dropped 27% year-on-year, down to just US$614,000. Diluted earnings per share in the first quarter of 2023 were RMB 0.02 (US$0.0029).