Open VPS - Haoyou Network Technology reported on August 25, and Lanxun Communication released its financial report today on August 21. According to the financial report, Lanxun Communication's net revenue in the second quarter was 353.3 million yuan (about 57 million dollars), up 2.0 percent year on year
The net loss of LanXun Communication in the second quarter of 2015 was 7.3 million yuan (about 1.2 million dollars), the net loss in the previous quarter was 5.2 million yuan, and the net profit in the same period of 2014 was 6.9 million yuan.
As of June 30, 2015, the total amount of cash and cash equivalents held by LanXun Communication was 649.5 million yuan (about 104.8 million dollars), compared with 375.9 million yuan as of December 31, 2014.
A few days before the release of the financial report, Lan Xun announced in a low profile that Zhang Ken, the president, had proposed to resign and decided not to serve as the president of the company after the contract expired on August 31, 2015.
Zhang Ken, a technical graduate, was promoted from the position of chief technology officer to the position of president in March 2013. Before joining Lan Xun in 2011, he had worked for Ericsson for about 7 years. Before leaving Ericsson, he was the chief technology officer of Ericsson in Greater China and Northeast Asia.
Lan Xun said that Wang Song, CEO of the company, and other senior management will perform the duties of the president during the transition period until the new president takes office.
It is also understood that Lanxun's share price dropped by more than 20% after the financial report was released today. As of 10 o'clock this evening, Lanxun's share price was 6.80 dollars, down 1.71 dollars.
