Note 9 - Long-term Investments

3 Months Ended

Mar. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

9.   Long-term investments

	March 31, 2015		December 31, 2014
	US$(’000)		US$(’000)
	(Unaudited)
Equity method investments:
Investment in equity method investees		823		806
Advance to equity method investees		85		85
		908		891
Cost method investments:
Investment in cost method investees		181		18
Total long-term investments		1,089		909

As of March 31, 2015, the Company beneficially owned 40%, 23.18% and 25.5% equity interest in ChinaNet Korea, Shenzhen Mingshan and Zhao Shang Ke Hubei, respectively. The Company accounts for its investments in these entities under equity method of accounting. The following table summarizes the movement of the investment in and advance to equity investment affiliates for the three months ended March 31, 2015:

	ChinaNet Korea		Shenzhen Mingshan			Zhao Shang Ke Hubei			Total
	US$(’000)		US$(’000)			US$(’000)			US$(’000)
Balance as of December 31, 2014 (audited)		-		461			430			891
Share of income in equity investment affiliates		-		1			-			1
Investment in equity investment affiliates		20		-			-			20
Exchange translation adjustment		-		(2	)		(2	)		(4	)
Balance as of March 31, 2015 (unaudited)		20		460			428			908

ChinaNet Korea is a new entity incorporated in March 2015 by ChinaNet Investment BVI and three other unaffiliated individuals in the Republic of Korea. The Company made an investment of US$20,000 and obtained 40% of the equity interest in ChinaNet Korea.

For the three months ended March 31, 2015, the Company recognized its pro-rata shares of income in Shenzhen Mingshan of approximately US$1,000. For the three months ended March 31, 2014, the Company recognized its pro-rata shares of loss in Shenzhen Mingshan of approximately US$2,000. For the three months ended March 31, 2015 and 2014, the Company recognized its pro-rata share of losses in Zhao Shang Ke Hubei of approximately US$nil and US$13,000, respectively.

In January 2015, the Company through one of its VIEs, Beijing CNET Online made an investment of RMB1,000,000 (approximately US$0.16 million) to Chuangshi Meiwei and obtained 10% equity interest in Chuangshi Meiwei.

As of March 31, 2015, the Company beneficially owns both 10% equity interest in Chuangshi Meiwei and Beijing Saturday. The Company accounts for these investments under cost method. For the three months ended March 31, 2015, the Company did not receive any distribution of earnings from Chuangshi Meiwei and Beijing Saturday.