China's BesTV half-year profits up 54%

SHANGHAI -- China's first listed broadcasting new media content provider BesTV announced on Friday that its profits in the first half of the year reached 256 million yuan ($40.5 million), up 54 percent year on year.

BesTV, which went public on the Shanghai Stock Exchange late last year, realized sales revenues of 917 million yuan from January to June, a 49-percent year-on-year increase, according to its half-year report.

The report said the company's mobile television, online video, new media and satellite integration businesses have all achieved steady growth.

The company has developed a 3D high-definition television set-top box that will be commercially available soon, the report said.

BesTV has the largest offering of television programs in China, with 350,000 hours of video available for viewing.

BesTV signed a memorandum of understanding concerning investment in online and mobile phone media services in June with Telkomsel, a leading telecommunications company in Indonesia.