BEIJING, CHINA, March 15, 2005 - SOHU.COM Inc. (NASDAQ:
SOHU), China's leading online media, communications, commerce and mobile
value-added services company, today announced that it has filed an extension
notification with the SEC for its Form 10-K to allow it additional time to
complete the management’s assessment of internal controls over financial
reporting in accordance with Section 404 of Sarbanes-Oxley and the rules of the
Public Company Accounting Oversight Board. The Company expects to be able to
file its Form 10-K by March 31, 2005, and then utilize the allowed 45-day
extension to file management's report on internal control for the fiscal year
2004 in an amended Form 10-K to be filed by April 30, 2005.
As of the
date of this press release, the Company has identified no material adjustments
to the unaudited financial results announced on February 7, 2005 for the quarter
and year ended December 31, 2004 and no material weaknesses in the Company's
internal controls over financial reporting. However, upon the completion of the
assessments and audit by the Company and its independent auditors, material
adjustments to the previously released unaudited financial results or material
weaknesses in the Company's internal controls over financial reporting may be
identified.
Safe Harbor Statement This announcement contains
forward-looking statements. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking statements.
These statements are based on current plans, estimates and projections, and
therefore you should not place undue reliance on them. Forward-looking
statements involve inherent risks and uncertainties. We caution you that a
number of important factors could cause actual results to differ materially from
those contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, SOHU’s historical and possible
future losses, limited operating history, uncertain regulatory landscape in the
People's Republic of China, fluctuations in quarterly operating results, and the
company's reliance on online advertising sales, wireless services (most of which
are collected from a few mobile telecom operators) and e-commerce for its
revenues. Further information regarding these and other risks is included in
SOHU's Annual Report on Form 10K for the year ended December 31, 2003, and other
filings with the Securities and Exchange Commission.
About SOHU
SOHU.COM Inc. (NASDAQ: SOHU) is China's premier online brand and
indispensable to the daily life of millions of Chinese who use the portal
network for their news, search, e-mail, wireless messaging, instant messaging,
browsing, games and shopping. SOHU has built one of the most comprehensive
matrices of Chinese language web properties and proprietary search engines,
consisting of the mass portal and leading online media destination www.sohu.com; interactive search engine www.sogou.com; the #1 online
alumni club www.chinaren.com; #1 games information portal www.17173.com; top real estate
website www.focus.cn; and
wireless value-added services provider www.goodfeel.com.cn. This network of web properties offers the
vast SOHU user community very broad choices regarding information,
entertainment, communication and commerce. SOHU corporate services consist
of online advertising on its matrix of websites as well as paid listing and
bidding listing on its in-house developed search directory and engine. SOHU also
offers three types of consumer services. SOHU offers wireless value-added
services such as news, information, ringtone and picture content sent over
mobile phones. The company also operates two massively multi-player online
role-playing games and manages a business-to-consumer e-commerce
platform.
SOHU.COM, established by Dr. Charles Zhang, one of China's
Internet pioneers, is in its ninth year of operation. For further
information: Dahlia Wei SOHU Investor Relations and
Communications Tel: +86 10 6272 6598 E-mail: ir@sohu-inc.com http://www.sohu.com/about/English/ |