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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 the options available to the
company. 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.
Sina controls Weibo, which owns Sina Weibo - China's version of
Twitter.
Excluding the charge, the company estimated a profit of 15 cents
per share, 2 cents above analysts' average estimate, according
to Thomson Reuters I/B/E/S.
Sina's shares were down 2.6 percent at $46.99 in extended
trading after closing at $48.15 Friday on the Nasdaq.
(Reporting By Lehar Maan in Bangalore; Editing by Savio D'Souza)
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