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Cninsure Q2 net income declines

Cninsure, a Chinese independent intermediary company, has reported a net income of RMB100.25m for the second quarter of 2011, down 15.5%, compared to RMB118.64m for the same period in 2010.

Net income from continuing operations was RMB97.5m for the second quarter of 2011, representing a decrease of 6.4% from RMB104.2m for the corresponding period of 2010.

Total net revenues were RMB400.67m for the second quarter of 2011, up 32.2%, compared to RMB303.9m for the same period a year ago.

Operating income: RMB103.8m, up 15.1%, compared to the same period in the previous year.

CNinsure chairman and CEO Yinan Hu said they are pleased to report another quarter of solid results that continued to outpace industry average and beat management’s previous estimate despite inflation pressure and the industry slowdown.