May 2 Chinese Internet firm Sina Corp
said it was fined 5.1 million yuan ($815,038) by Beijing
authorities for allowing "unhealthy and indecent content" on its
online reading channel and on its main website.
Sina was stripped of some online publication licences last
week after being targeted in a pornography crackdown, the
harshest punishment yet for a Chinese Internet company in an
intensifying online crackdown.
The fine was imposed by the Beijing Municipal Cultural
Market Administrative Law Enforcement Unit, Sina said in a
statement on Friday.
Sina said it was currently evaluating the impact of the
administrative penalties and the options available to the
company. Sina did not mention if or when its licences would be
The company on Friday also reported better-than-expected
preliminary results for the first quarter ended March 31.
Sina estimated a net loss of about $33 million, or 52 cents
per share, including a $40.2 million loss related to the market
debut last week of Weibo Corp.
Sina controls Weibo, which owns Sina Weibo - China's version
Excluding the charge, the company estimated a profit of 15
cents per share, 2 cents above analysts' average estimate,
according to Thomson Reuters I/B/E/S.
Sina's shares were down 2.6 percent at $46.99 in extended
trading after closing at $48.15 Friday on the Nasdaq.
($1 = 6.2593 Chinese Yuan)
(Reporting By Lehar Maan in Bangalore; Editing by Savio