Sina today released unaudited financial report for the second quarter of 2013

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Shanghai, China (August 12, 2013)--Sina (NASDAQ Gs:sina), the leading online media company serving China and the global Chinese community, today unveiled its unaudited financial report for the second quarter ending June 30, 2013.

Focus results for the second quarter of 2013

• Net revenue of USD 157.5 million, up 20% from a year earlier. Non-US GAAP net revenue was $152.8 million, up 20% from a year earlier, exceeding the company's expected range of $143 million to $147 million.

• Advertising revenue of 120.6 million U.S. dollars, up 17% from a year earlier, exceeding the company's expected range of $117 million to $119 million.

• Non-advertising revenue of 36.9 million US dollars, up 30% from a year earlier. Non-US GAAP revenue is 32.2 million U.S. dollars, up 35% from a year earlier, exceeding the company's expected range of $26 million to $28 million.

• Non-US GAAP Sina should account for a net profit of USD 14.2 million, an increase of 281% per cent over a year earlier, and 21 cents for each share of diluted income.

"I am pleased with Sina's second-quarter results," said Cao Chao, CEO and chairman of Sina. Although China's macroeconomic environment is still uncertain, we are actively expanding advertisers outside our big brand customers and promoting social and mobile advertising and value-added services on the basis of continued growth in micro-blogging, which has enabled Sina to gain high profit growth while investing heavily in the future. ”

Business performance in the second quarter of 2013

Net revenue was $157.5 million in the second quarter of 2013, at $131.6 million a year earlier. Non-US general accounting standards Net revenue of 152.8 million U.S. dollars, the same period last year, 126.9 million U.S. dollars.

NET advertising revenue for the second quarter of 2013 was $120.6 million trillion, 103.1 million dollars a year earlier. Microblog advertising revenue rose 209% to $30 million in the second quarter of 2013. Non-U.S. general accounting standards for the second quarter of 2013, non-advertising revenue of 32.2 million U.S. dollars, the same period last year 23.8 million U.S. dollars. In the second quarter of 2013, mobile value-added business revenue of 19.9 million U.S. dollars, an increase of 13%, micro-blog value-added business revenue of 7.7 million U.S. dollars, an increase of 186%, the latter including from the online game sharing revenue and micro-blog membership fees.

Gross margin was 54% in the second quarter of 2013, more than 53% a year earlier. The cost of the sale includes the 3.9 million dollar share compensation expenses associated with the Alibaba deal (see "Other Matters" section below for more information). Non-US general accounting standards advertising business gross profit margin of 57%, over the same period of 54%, which benefited from the company's advertising business to improve profitability. Non-advertising business gross profit margin of 55%, over the same period of 54%. Non-US general accounting standards in the second quarter of 2013 the non-advertising gross profit margin was 49%, over a year earlier of 45%, thanks to increased revenue contributions from higher-margin microblogging value-added services, which were partly offset by lower profit margins in mobile value-added services.

Operating expenses in the second quarter of 2013 amounted to $102.5 million trillion, compared with $69.8 million a year earlier. Excluding the 23.2 million-dollar share remuneration related to Alibaba trading (see "Other Matters" section below), the operating expenses of non-US general accounting standards in the second quarter of 2013 were $75.4 million trillion, compared with $66.8 million a year earlier. Non-US general accounting standards the growth in operating expenses is mainly due to an increase in human costs and a relatively small amount of bad debt spending, which is offset by a decline in marketing spending.

Operating losses in the second quarter of 2013 were $18.2 million trillion, operating at a profit of $200,000 a year earlier. Non-US GAAP operating profit was $8.8 million in the second quarter of 2013, with an operating loss of $800,000 a year earlier.

Operating profit was $8.2 million in the second quarter of 2013, at $34.2 million a year earlier. Non-operating profits in the second quarter of 2013 included 1.3 million U.S. dollar equity investment income, based on non-US general accounting standards combined with income of 4.2 million U.S. dollars, equity investment proceeds in accordance with the equity accounting method, the announcement deferred a quarter. The CRIC profit in the second quarter of 2012 included a net gain of 32.8 million dollars, mainly from investment gains from the merger of the company and China Holdings Limited, which originated in China real Estate Information Group.

Sina should account for a net loss of USD 11.5 million in the second quarter of 2013, with a net profit of $33.2 million a year earlier. In the second quarter of 2013, Sina accounted for a thin net loss of 17 cents per share, with a net profit of 49 cents per share a year earlier. Non-US general accounting standards for the second quarter of 2013 Sina should account for a net profit of USD 14.2 million, which was $3.7 million a year earlier. Non-US general accounting standards for the second quarter of 2013 Sina should account for 21 cents per share of diluted earnings, 5 cents a year earlier.

As of June 30, 2013, Sina's cash, cash equivalents and short-term investment amounted to USD 1.237 billion, up to December 31, 2012 of USD 713.6 million. The increase in cash, cash equivalents and short-term investments is mainly in net cash from Alibaba related to its investment microblog. Operating activities in the second quarter of 2013 provided cash for USD 43.6 million, capital expenditure of USD 10.9 million and depreciation cost of USD 8.7 million.

Other matters

April 29, 2013, Alibaba through its wholly-owned subsidiary, the investment of 586 million U.S. dollars to buy Sina Weibo company's preferred shares and common stock, accounting for micro-bo diluted thin diluted the total shares of about 18% (hereinafter referred to as "trading"). In addition, Sina has granted Alibaba an option that allows Alibaba to increase its share of the company's total dilution diluted shares to 30% per cent, as agreed by both parties. Affected by this "transaction", we identified the 49.7 million dollar investor option liability to reflect the fair market value of the option as at June 30, 2013, and the 27.1 million dollar one-time share remuneration expenditure.

Performance Outlook

Sina expects non-US GAAP net revenue in the third quarter of 2013 to be between $176 million trillion and $180 million trillion, with advertising revenues between 151 million and 153 million dollars, and non-US GAAP advertising revenues between 25 million US dollars and 27 million U.S. dollars. The expectation is that lower-margin mobile value-added services are down by about $6 million a quarter. Non-US general accounting standards Net revenue and non-US GAAP non-advertising revenue does not include the 4.7 million-dollar amortization and deferred revenue associated with Sina's equity investment in/cric (China Real Estate Information Group).

Conference

Sina Company is scheduled to the eastern United States daylight Time August 12, 2013 9 o'clock in the evening (Beijing August 13, 2013 9 o'clock in the morning) to convene a conference call to inform the Company's financial and operating conditions. Users can listen to the meeting live on the company website Http://corp.sina.com Online. The access numbers for this conference call are: +1 845 675 0438 (USA), +852 3051 2745 (Hong Kong), and the passwords are: 29900221. The conference call will be recorded in the eastern United States daylight Time of August 19, 2013 end of midnight, listen to the record of the telephone access number is: +61 2 8199 0299; password: 29900221.

Sina Introduction

Sina is a network media company that serves China and the global Chinese community. Sina through the Portal Sina Network (sina.com), mobile portal Phone Sina Network (sina.cn) and social media Sina Weibo (weibo.com) digital Media Network, To help customers through the Internet and mobile devices to obtain professional media and user-generated multimedia content and share with friends.

Through its many regional websites, Sina provides professional content for local users and provides a range of value-added services. Mobile Sina for Mobile (WAP) users to provide customized information from the Sina Portal and entertainment content. Sina Weibo is a social media based on an open platform architecture that provides microblogging and social networking services to help users communicate with and share information with anyone, anytime, and through open platforms that provide applications for development and Third-party development.

Sina through the above main business and other lines to provide customers with a series of network media and social networking services for enterprises and brand advertisers to create their target customers and communication channels. Most of the company's revenue comes from online brand advertising, mobile value-added services and fee-based service.

Contact：

Investor Relations Department

Sina Company

Tel: 8610-82628888 ext. 3112

E-mail: ir@staff.sina.com.cn