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Net drops

Shanda Interactive Entertainment Ltd, China's biggest online games provider, reported second-quarter net income dropped 33 percent to 279.8 million yuan, or 3.8 yuan per American depositary receipt, from 416 million yuan, or 5.7 yuan, a year earlier, when the company had a one-time gain from the sale of its stake in Chinese Web portal Sina Corp. Sales rose 48 percent to 837.6 million yuan, Shanghai-based Shanda said yesterday in a statement.