Renren's most lucrative business now is selling assets.

Summary: Renren yesterday released its 4th-quarter earnings, fourth-quarter total net revenue of 17.2 million U.S. dollars, down 38.5% from a year earlier; Gross profit in the quarter was 4.9 million U.S. dollars, down 65.3% from a year earlier; Renren's total net revenue for the year 2014 is 83 million dollars, compared with 2013

Renren posted its 4th-quarter earnings yesterday, with a fourth-quarter total net revenue of $17.2 million, down 38.5% from a year earlier, and gross profit of $4.9 million in the quarter, down 65.3% from a year earlier; The gross profit of fiscal year 2014 was $35 million, down 62.7% from fiscal year 2013.

It is worth noting that the results of the net to the 56 net sold to Sohu profit of 500,000 U.S. dollars.

Sohu bought 56 nets from Renren in the 4th quarter of last year, both of which did not disclose the purchase price, only the rumored purchase price is 12.9 million U.S. dollars or higher.

Renren bought 56 Web sites in 2011 with 80 million dollars. According to the balance treasure about 4.2% of the annual income, 80 million U.S. dollars can also bring more than 10 million dollars of income Ah!

This is still not counted 56 net these years loss ...

Renren has been selling its operations to improve capital in the last two years, in addition to the 56 net, there are 2013 years to 160 million U.S. dollars to Baidu Sales group buy net glutinous rice net 59% shares of the transaction and Baidu and January 2014 to 132.7 million U.S. dollars wholly-owned purchase of glutinous rice trading.

Renren's business 13 years and 14 most of the state, the sale of assets has become the most lucrative business, such as Baidu acquisition of glutinous Rice to obtain 132.7 million U.S. dollars of income to achieve the net in the 2013 fiscal year from net losses to net profit changes.

In the conference call after the earnings release, a surprising thing happened. One American investor has accused Renren of making excuses for not being China's leading social network and selling 56 of nets and sticky rice. The investor then asked CEO Chen why he was not liable to resign.

Chen's response to such a sharp question is summed up is 56 nets and glutinous rice is not as good as the main market competitors, such as the 56 net UGC content of advertisers are not as attractive as mass purchase of high-quality American play Sohu video. And China's national conditions and the United States are different, I hope the investors do not use the United States as a yardstick to measure renren.