Sina fined 5m yuan for indecent content

Chinese Internet firm Sina Corp said it was fined 5.1 million yuan ($815,038) by the Chinese government for allowing "unhealthy and indecent content" on its online reading channel and on its main website, Reuters reported on Friday.

Sina was stripped of some online publication licenses last week after being targeted in a pornography crackdown, the harshest punishment yet for a Chinese Internet company in an intensifying online crackdown.

The fine was imposed by the Beijing Municipal Cultural Market Administrative Law Enforcement Unit, Sina said in a statement on Friday.

Sina said it was currently evaluating the impact of the administrative penalties and its options. Sina did not mention if or when its licenses would be reinstated.

The company on Friday also reported better-than-expected preliminary results for the first quarter ended March 31.

Sina estimated a net loss of about $33 million, or 52 cents per share, including a $40.2 million loss related to the market debut last week of Weibo Corp, which it controls.