Chinese Internet Users: The Great Prize Reaches a New Milestone

As of the end of November 2011, the number of Internet users in China (NYSE:FXI) has reached 505 million, according to a report by the China Internet Network Information Center.

At 37.7 percent, the Internet penetration rate has grown 3.4 percent since the end of 2010, said a CNNIC report released in late December 2011. This weighs against the 70 percent or higher Internet penetration rates of Japan and South Korea, China’s more technologically advanced East Asian neighbors.

A CNNIC report released Wednesday noted the number of microblog users passed 300 million at the end of November, leaping from 195 million at the end of June, according to the official Xinhua News agency.

Here’s how top chinese internet stocks are reacting to the news:

Baidu, Inc. (NASDAQ:BIDU): BIDU shares recently traded at $127.03, up $0.15, or 0.12%. They have traded in a 52-week range of $100.95 to $165.96. Volume today was 2,848,336 shares versus a 3-month average volume of 6,258,460 shares. The company’s trailing P/E is 48.80, while trailing earnings are $2.60 per share.

Sina Corp. (NASDAQ:SINA): SINA shares recently traded at $56.31, up $1.94, or 3.57%. They have traded in a 52-week range of $46.86 to $147.12. Volume today was 3,989,486 shares versus a 3-month average volume of 5,453,120 shares. The company’s trailing earnings are $-6.42 per share.

Sohu.com Inc. (NASDAQ:SOHU): SOHU shares recently traded at $52.75, up $0.32, or 0.61%. They have traded in a 52-week range of $45.40 to $109.37. Volume today was 598,351 shares versus a 3-month average volume of 1,417,570 shares. The company’s trailing P/E is 12.12, while trailing earnings are $4.35 per share.

Youku.com Inc (ADR) (NYSE:YOKU): YOKU shares recently traded at $17.95, up $1.05, or 6.21%. They have traded in a 52-week range of $13.76 to $69.95. Volume today was 2,118,579 shares versus a 3-month average volume of 2,346,200 shares. The company’s trailing earnings are $-0.27 per share.

Renren Inc (NYSE:RENN): RENN shares recently traded at $3.57, up $0.08, or 2.29%. They have traded in a 52-week range of $3.21 to $24.00. Volume today was 3,047,997 shares versus a 3-month average volume of 3,631,430 shares. The company’s trailing earnings are $-0.85 per share.

E Commerce China Dangdang Inc (ADR) (NYSE:DANG): DANG shares recently traded at $5.57, up $0.32, or 6.1%. They have traded in a 52-week range of $4.11 to $36.40. Volume today was 2,288,969 shares versus a 3-month average volume of 2,092,170 shares. The company’s trailing earnings are $-0.20 per share.

Shanda Interactive Entertainment Ltd. (NASDAQ:SNDA): SNDA shares recently traded at $40.17, down $0.03, or 0.07%. They have traded in a 52-week range of $28.44 to $54.20. Volume today was 103,377 shares versus a 3-month average volume of 206,017 shares. The company’s trailing P/E is 63.36, while trailing earnings are $0.63 per share.

Qihoo 360 Technology Co Ltd (NYSE:QIHU): QIHU shares recently traded at $15.70, down $0.05, or 0.32%. They have traded in a 52-week range of $13.71 to $36.21. Volume today was 324,173 shares versus a 3-month average volume of 1,113,790 shares. The company’s trailing earnings are $-0.00 per share.