A8 Digital Music Holdings, one of the mainland's top integrated digital music providers, recorded a significant revenue growth of 147 per cent to 706 million yuan (HK$800.89 million) for last year thanks to the widespread introduction of third-generation mobile music. Total revenue for 2007 was 286 million yuan.
The group listed on the Hong Kong stock market in June last year, and is attempting to overcome the global economic meltdown with rapid developments in music content, better technology and enhanced marketing and distribution channels.
Alvin Liu Xiaosong, the company's chairman and chief executive director, said: 'I don't feel that the global financial crisis has had a negative effect on our business because the mobile music industry is developing well in China.'
The company's gross profit doubled to 266.1 million yuan and the balance sheet was strong with no debt, and a cash balance of 315.6 million yuan at the end of last year.
Mr Liu said a successful combination of integrated marketing strategies using new media and conventional media spurred the group's revenue.
A8 expanded its marketing channels to more than 1,000 internet websites to increase awareness and promote songs through self-replicating viral processes. The company developed the A8 music-playing software, which can be downloaded to mobile phones on the innovative user generated content (UGC) platform for personalising music-playing settings of the handsets.