Baidu, China's largest search engine, said its net profit totaled 35.2 million yuan (US$4.4 million) in the first three months of this year, 13 times higher than the same period in 2005, Thursday's China Business News reports.

 

The profit was also an increase of 43.5 percent from the previous quarter, the report said, quoting Baidu's quarterly financial report, which was published on Tuesday.

 

During the January-March period, Baidu's sales were up 18 percent to 135.6 million yuan.

 

Since being listed on the US-based Nasdaq Stock Market in August 2005, Baidu has reported healthy profits for two successive quarters.

 

Baidu has bright prospects for future development, as China's search market was only worth US$100 million in 2005, industry insiders said.

 

China now has more than 100 million Internet users, ranking the second in the world after the United States.

 

(Xinhua News Agency May 12, 2006)