May 20, 2010 (China Knowledge) - Hanwang Technology Co Ltd<002362>, the creator of the patented Chinese Handwriting Recognition Technology, sold 200,000 electronic book readers in the first quarter of this year, whereas it sold 267,000 in 2009.

In the first quarter, China's total e-book reader sales volume was 249,100 units, and 66.04% of them were sold by the Shenzhen-listed firm, sources reported.

Hanwang Technology, which aims to sell between 1.5 million and 2 million e-book readers this year, said that its operating revenue was RMB 317 million in the first quarter, up 352% year on year, and that its net profit skyrocketed 349% year on year to RMB 41.87 million.

The firm's net profit for the first half of 2010 will surge by an estimated 320% to 370% year on year.

Hanwang Technology has cooperated with international firms such as Microsoft, Nokia, Samsung, Sony Ericsson, LG, Lenovo and TCL.