SHENZHEN, China, Aug. 15, 2016 /PRNewswire/ -- 500.com Limited
(NYSE: WBAI) ("500.com" or the "Company"), a leading online sports
lottery service provider in China,
today reported its unaudited financial results for the second
quarter of 2016.
Temporary Suspension of Online Lottery Sales
Since March 2015, all provincial
sports lottery administration centers to which the Company provides
sports lottery sales services have temporarily suspended accepting
online purchase orders for lottery products in response to the
Notice related to Self-Inspection and Self-Remedy of Unauthorized
Online Lottery Sales, (the "Self-Inspection Notice"), which was
jointly promulgated by the Ministry of Finance, the Ministry of
Civil Affairs and the General Administration of Sports of
the People's Republic of China on
January 15, 2015.
On February 24, 2015, the Company
was informed by certain provincial sports lottery administration
centers that, as part of their respective self-inspection
processes, such provincial sports lottery administration centers
planned to temporarily suspend accepting online purchase orders for
lottery products starting from February 25,
2015. On March 2, 2015, the
Company was further informed by the remaining provincial sports
lottery administration centers to which it provides sports lottery
sales services that they also planned to temporarily suspend
accepting online purchase orders for lottery products, in response
to the Self-Inspection Notice.
As a result of the provincial sport lottery administration
centers' decision to temporarily suspend accepting online lottery
orders, or temporary suspension, the Company did not generate any
revenue from sports lottery sales in the second quarter of 2016.
The Company recorded an operating loss for the second quarter of
2016.
Disposal of Investment in Sumpay.cn
On March 31, 2016, the Company
announced that it has disposed of its 63% equity interest in
Sumpay.cn for a total consideration of RMB359.1 million. On May
20, 2016, upon the completion of registration of changes in
shareholders, legal representative, and management structure with
Zhejiang Administration of Industry and Commerce, the Company
discontinued consolidating Sumpay.cn since it lost control over
Sumpay.cn. The Company recognized a gain from the disposal of
Sumpay.cn of RMB64.8 million during
the second quarter of 2016. As of June 30,
2016, the Company has received 80% of the total
consideration, or RMB287.3 million,
with the remaining 20% of the total consideration, or RMB71.8 million, expected to be settled within
the 10 days following Sumpay.cn's successful renewal of its online
payment license.
Second Quarter 2016 Highlights
-
|
Total purchase amount
of sports lottery was nil, compared with nil for the first quarter
of 2016, and nil for the second quarter of 2015.
|
|
|
-
|
Net revenues were
RMB1.2 million (US$0.2 million), compared with RMB2.2 million for
the first quarter of 2016, and nil for the second quarter of
2015.
|
|
|
-
|
Operating loss was
RMB89.4 million (US$13.5 million), compared with operating loss of
RMB97.3 million for the first quarter of 2016, and operating loss
of RMB96.4 million for the second quarter of 2015.
|
|
|
-
|
Non-GAAP[1] operating
loss was RMB40.7 million (US$6.1 million), compared with non-GAAP
operating loss of RMB49.3 million for the first quarter of 2016,
and non-GAAP operating loss of RMB45.7 million for the second
quarter of 2015.
|
|
|
-
|
Net loss attributable
to 500.com was RMB27.7 million (US$4.2 million), compared with net
loss attributable to 500.com of RMB90.9 million for the first
quarter of 2016, and net loss attributable to 500.com of RMB81.4
million for the second quarter of 2015.
|
[1] Non-GAAP financial
measures exclude the impact of share-based compensation expenses.
Reconciliations of non-GAAP financial measures to U.S. GAAP
financial measures are set forth in table at the end of this
release.
|
Mr. Zhengming Pan, the CEO of
500.com, stated, "We voluntarily and temporarily suspended our
online lottery sales operations in response to the promulgation of
the Self-Inspection Notice. Such temporary and voluntary suspension
materially and adversely impacted our financial and operational
results for the second quarter of 2016. We want to restate that the
Company was one of the two entities approved by the Ministry of
Finance in 2012 to provide online lottery sales services on behalf
of the China Sports Lottery Administration Center. In particular,
such approval mandated that the China Sports Lottery Administration
Center use its best effort to develop an online lottery sales
management system as part of a pilot program for online lottery
sales in China, and once such a
management system is finished, the China Sports Lottery
Administration Center should apply again for approval from the
Ministry of Finance for official commencement of online lottery
sales in China. The Company notes
it has been working and will continue to work with the China Sports
Lottery Administration Center to develop the management system. To
the best of the Company's knowledge, the approval by the Ministry
of Finance for the Company to provide online lottery sales services
on behalf of the China Sports Lottery Administration Center is
valid and has not been revoked or amended as of the date of this
earnings release."
Second Quarter 2016 Operational
Results
Due to the voluntary temporary suspension, no operational
results were recorded and presented currently.
Second Quarter 2016 Financial
Results
Net Revenues
Net revenues were RMB1.2 million
(US$0.2 million), compared with
RMB2.2 million for the first quarter
of 2016, and nil for the second quarter of 2015. Net revenues for
both the first quarter and the second quarter of 2016 were
primarily generated from the rendering of technical and data
maintenance services by Sumpay.cn.
Operating Expenses
Operating expenses were RMB96.2
million (US$14.5 million),
representing a decrease of 0.7% from RMB96.9
million during the second quarter of 2015, and a decrease of
3.9% from RMB100.1 million during the
first quarter of 2016. The year-over-year decrease was mainly due
to a decrease in promotional and advertising expenses of
RMB7.5 million, as a result of the
voluntary temporary suspension, which was partially offset by an
increase in the amortization of the online payment and other
licenses of RMB1.7 million, an
increase in consulting expenses of RMB1.5
million, an increase in office supply expenses of
RMB1.0 million, and a reversal of bad
debt provision of RMB1.8 million
during the second quarter of 2015. The sequential decrease was
mainly due to a decrease in salary expenses of RMB5.7 million, and amortization of the online
payment and other licenses of RMB1.4
million, both due to the disposal of Sumpay.cn on
May 20, 2016, which were partially
offset by increases in office supply expenses of RMB1.3 million, and travelling expenses of
RMB1.3 million.
Cost of services was RMB3.4
million (US$0.5 million),
representing a decrease of 33.3% from RMB5.1
million during the second quarter of 2015, and a decrease of
10.5% from RMB3.8 million during the
first quarter of 2016. The year-over-year decrease was mainly due
to a decline in salary expenses of RMB1.4
million as a result of a decrease in staff headcount.
Sales and marketing expenses were RMB11.3
million (US$1.7 million),
representing a decrease of 40.2% from RMB18.9 million during the second quarter of
2015, and a decrease of 14.4% from RMB13.2
million during the first quarter of 2016. The year-over-year
decrease was mainly due to a decline in promotional activities of
RMB1.1 million as a result of the
voluntary temporary suspension, and a decline in advertising
expenses associated with the Company's marketing campaign on TV and
other media of RMB6.4 million. The
sequential decrease was mainly attributable to a decrease in salary
expenses of RMB1.9 million as a
result of the disposal of Sumpay.cn on May
20, 2016.
General and administrative expenses were RMB63.3 million (US$9.5
million), representing an increase of 13.8% from
RMB55.6 million during the second
quarter of 2015, and an increase of 2.9% from RMB61.5 million during the first quarter of 2016.
The year-over-year increase was attributable to an increase in the
amortization of the online payment and other licenses of
RMB1.7 million, an increase in salary
expenses of RMB2.2 million due to the
acquisition of Sumpay.cn in December
2015, and salary adjustment in July
2015, an increase in consulting expenses of RMB1.9 million, an increase in office supply
expenses of RMB1.1 million, and
a reversal of bad debt provision of RMB1.8
million during the second quarter of 2015, which was
partially offset by a decrease in share-based compensation expenses
associated with share options granted to the Company's employees of
RMB1.6 million. The sequential
increase was mainly due to an increase in office supply expenses of
RMB1.3 million, an increase in the
travelling expenses of RMB1.7
million, which was partially offset by a decrease in
amortization of the online payment and other licenses of
RMB1.4 million due to the disposal of
Sumpay.cn on May 20, 2016.
Service development expenses were RMB18.2
million (US$2.7 million),
representing an increase of 5.2% from RMB17.3 million during the second quarter of
2015, and a decrease of 16.1% from RMB21.7
million during the first quarter of 2016. The sequential
decrease was mainly due to a decrease in salary expenses of
RMB2.5 million as a result of the
disposal of Sumpay.cn on May 20,
2016.
Operating Loss
Operating loss was RMB89.4 million
(US$13.5 million), compared with
operating loss of RMB96.4 million
during the second quarter of 2015, and operating loss of
RMB97.3 million during the first
quarter of 2016. The Company did not generate any revenue from
sports lottery sales in the second quarter of 2016 due to the
voluntary temporary suspension, which materially affected operating
results for the second quarter of 2016.
Non-GAAP operating loss was RMB40.7
million (US$6.1 million),
compared with non-GAAP operating loss of RMB45.7 million during the second quarter of
2015, and non-GAAP operating loss of RMB49.3
million during the first quarter of 2016.
Net Loss Attributable to 500.com
Net loss attributable to 500.com was RMB27.7 million (US$4.2
million), compared with net loss attributable to 500.com of
RMB81.4 million during the second
quarter of 2015, and net loss attributable to 500.com of
RMB90.9 million during the first
quarter of 2016. The year-over-year and sequential decreases were
mainly due to a gain from the disposal of Sumpay.cn of RMB64.8 million recognized during the second
quarter of 2016.
Non-GAAP net income attributable to 500.com was RMB21.0 million (US$3.2
million), compared with non-GAAP net loss attributable to
500.com of RMB30.8 million during the
second quarter of 2015, and non-GAAP net loss attributable to
500.com of RMB42.9 million during the
first quarter of 2016.
Basic and Diluted Net Loss per ADS
Basic and diluted net loss per ADS were RMB0.67 and RMB0.67, respectively.
Non-GAAP basic and diluted net earnings per ADS were
RMB0.51 and RMB0.49, respectively.
Cash and Cash Equivalents, Restricted Cash, Time
Deposits, and Short-term Investments
As of June 30, 2016, the Company
had cash and cash equivalents of RMB1,238.5
million (US$186.4 million),
restricted cash[2] of
RMB3.8 million (US$0.6 million), time deposits[3] of RMB358.1
million (US$53.9 million), and
short-term investments of RMB100.0
million (US$15.0 million), compared
with cash and cash equivalents of RMB1,024.1
million, restricted cash of RMB8.2
million, time deposits of RMB396.7
million, and short-term investments of RMB161.1 million as of March 31, 2016.
Account Receivables
As of June 30, 2016, the Company
had gross account receivables of RMB19.8
million (US$3.0 million),
compared with RMB20.3 million as of
March 31, 2016. The Company has made
a full provision on the account receivables after assessing the
collectability of the account receivables.
Prepayments and Other Current Assets
As of June 30, 2016, the balance
of prepayment and other current assets was RMB30.8 million (US$4.6
million), compared with RMB81.4
million as of March 31, 2016.
The balance as of June 30, 2016
mainly included: (i) the current portion of deferred expenses of
RMB14.5 million (US$2.2 million); (ii) interest receivable of
RMB2.0 million (US$0.3 million); and (iii) other receivables of
RMB14.3 million (US$2.2 million).
[2] Restricted cash
represents government grants received but pending final
clearance.
|
[3] Time deposits
represent deposits in commercial banks with original maturities of
greater than three months but less than a year.
|
Business Outlook
The Company will not make earnings forecast until it receives
clear instruction on the resumption date of online sports lottery
sales from the Ministry of Finance.
Currency Convenience Translation
This announcement contains translations of certain Renminbi
amounts into U.S. dollars at specified rates solely for the
convenience of readers. Unless otherwise noted, all translations
from Renminbi to U.S. dollars were made at the exchange rate of
RMB6.6459 to US$1.00, as set forth in the H.10 statistical
release of the Federal Reserve Board on June
30, 2016.
About 500.com Limited
500.com Limited (NYSE:WBAI) is a leading online sports lottery
service provider in China. The
Company offers a comprehensive and integrated suite of online
lottery services, information, user tools and virtual community
venues to its users. 500.com was among the first companies to
provide online lottery services in China, and is one of two entities that have
been approved by the Ministry of Finance to provide online lottery
sales services on behalf of the China Sports Lottery Administration
Center, which is the government authority that is in charge of the
issuance and sale of sports lottery products in China.
Safe Harbor Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"going forward," "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions, and relate to events that involve known
or unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
About Non-GAAP Financial Measures
To supplement the Company's financial results presented in
accordance with U.S. GAAP, the Company uses non-GAAP financial
measures, which are adjusted from results based on U.S. GAAP to
exclude share-based compensation expenses in our consolidated
affiliated entities. Reconciliations of non-GAAP financial measures
to U.S. GAAP financial measures are set forth in table at the end
of this release, which provide more details on the non-GAAP
financial measures.
Non-GAAP financial information is provided as additional
information to help investors compare business trends among
different reporting periods on a consistent basis and to enhance
investors' overall understanding of the historical and current
financial performance of the Company's continuing operations and
prospects for the future. Non-GAAP financial information should not
be considered a substitute for or superior to U.S. GAAP results. In
addition, calculations of this non-GAAP financial information may
be different from calculations used by other companies, and
therefore comparability may be limited.
For more information, please contact:
500.com Limited
ir@500wan.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
500.com
Limited
|
Condensed
Consolidated Balance Sheets
|
(Amounts in
thousands of Renminbi("RMB") and U.S. dollars("US$"), except for
number of shares)
|
|
|
|
|
|
|
|
December 31,
2015
|
|
June 30,
2016
|
June 30,
2016
|
|
RMB
|
|
RMB
|
US$
|
|
Audited
|
|
Unaudited
|
Unaudited
|
|
|
|
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
400,657
|
|
1,238,459
|
186,349
|
Restricted
cash
|
10,599
|
|
3,848
|
579
|
Time
deposits
|
1,220,797
|
|
358,085
|
53,881
|
Short-term
investments
|
45,540
|
|
100,000
|
15,047
|
Accounts
receivable
|
3,638
|
|
-
|
-
|
Prepayments and other
current assets
|
30,855
|
|
30,824
|
4,637
|
Total current
assets
|
1,712,086
|
|
1,731,216
|
260,493
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
Property and
equipment, net
|
44,194
|
|
37,414
|
5,630
|
Intangible assets,
net
|
200,148
|
|
2,903
|
437
|
Goodwill
|
64,899
|
|
-
|
-
|
Deposits
|
1,217
|
|
1,650
|
248
|
Long-term
investments
|
60,332
|
|
64,592
|
9,719
|
Other non-current
assets
|
1,621
|
|
1,621
|
244
|
Total non-current
assets
|
372,411
|
|
108,180
|
16,278
|
|
|
|
|
|
TOTAL
ASSETS
|
2,084,497
|
|
1,839,396
|
276,771
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts
payable
|
106
|
|
-
|
-
|
Accrued payroll
and welfare payable
|
15,890
|
|
9,737
|
1,465
|
Accrued
expenses and other current liabilities
|
140,612
|
|
57,539
|
8,658
|
Income tax
payable
|
1,214
|
|
14,005
|
2,107
|
Total current
liabilities
|
157,822
|
|
81,281
|
12,230
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
Long-term
payables
|
46,928
|
|
43,586
|
6,558
|
Deferred tax
liabilities
|
13,411
|
|
-
|
-
|
Total non-current
liabilities
|
60,339
|
|
43,586
|
6,558
|
|
|
|
|
|
Total
liabilities
|
218,161
|
|
124,867
|
18,788
|
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
|
Class A ordinary
shares, par value
US$0.00005 per share, 700,000,000
shares authorized as of December 31,
2015 and June 30, 2016; 334,034,932 and
339,848,652 shares issued and outstanding as
of December 31, 2015 and June 30, 2016,
respectively
|
110
|
|
115
|
17
|
Class B ordinary
shares, par value
US$0.00005 per share; 300,000,000 shares
authorized as of December 31, 2015 and June
30, 2016; 84,999,159 and 74,400,299 shares
issued and outstanding as of December 31,
2015 and June 30, 2016, respectively
|
32
|
|
28
|
4
|
Additional paid-in
capital
|
2,022,369
|
|
2,124,035
|
319,601
|
Treasury
shares
|
(8,773)
|
|
(71,148)
|
(10,706)
|
Accumulated
deficit
|
(335,363)
|
|
(454,004)
|
(68,313)
|
Accumulated other
comprehensive income
|
89,488
|
|
115,503
|
17,380
|
Total 500.com
Limited shareholders' equity
|
1,767,863
|
|
1,714,529
|
257,983
|
Noncontrolling
interests
|
98,473
|
|
-
|
-
|
Total
shareholders' equity
|
1,866,336
|
|
1,714,529
|
257,983
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
2,084,497
|
|
1,839,396
|
276,771
|
500.com
Limited
|
Condensed
Consolidated Statements of Comprehensive Income
|
(Amounts in
thousands of Renminbi ("RMB") and U.S. dollars
("US$"),
|
except for number
of shares, per share (or ADS) data)
|
|
|
Three Months
Ended
|
|
June 30,
2015
|
|
March 31,
2016
|
|
June 30,
2016
|
June 30,
2016
|
|
RMB
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
Net
Revenues
|
-
|
|
2,221
|
|
1,238
|
186
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
Cost of
services
|
(5,123)
|
|
(3,770)
|
|
(3,436)
|
(517)
|
Sales and
marketing
|
(18,884)
|
|
(13,154)
|
|
(11,303)
|
(1,701)
|
General
and administrative
|
(55,558)
|
|
(61,481)
|
|
(63,339)
|
(9,531)
|
Service
development expenses
|
(17,339)
|
|
(21,655)
|
|
(18,163)
|
(2,733)
|
Total operating
expenses
|
(96,904)
|
|
(100,060)
|
|
(96,241)
|
(14,482)
|
Other operating
income
|
874
|
|
22
|
|
897
|
135
|
Government
grant
|
213
|
|
1,616
|
|
5,081
|
765
|
Other operating
expense
|
(568)
|
|
(1,148)
|
|
(346)
|
(52)
|
Operating
loss
|
(96,385)
|
|
(97,349)
|
|
(89,371)
|
(13,448)
|
Interest
income
|
3,932
|
|
3,761
|
|
3,609
|
543
|
Loss from equity
method investments
|
(195)
|
|
(178)
|
|
(73)
|
(11)
|
Gain from disposal of
subsidiaries
|
-
|
|
-
|
|
64,778
|
9,747
|
Changes in fair value
of the structured deposit
|
(143)
|
|
-
|
|
-
|
-
|
Loss before income
tax
|
(92,791)
|
|
(93,766)
|
|
(21,057)
|
(3,169)
|
Income tax benefit
(expense)
|
11,353
|
|
(1,419)
|
|
(8,312)
|
(1,251)
|
Net
loss
|
(81,438)
|
|
(95,185)
|
|
(29,369)
|
(4,420)
|
Less: Net loss attributable to the non-controlling
interests
|
-
|
|
(4,255)
|
|
(1,658)
|
(249)
|
Net loss
attributable to 500.com Limited
|
(81,438)
|
|
(90,930)
|
|
(27,711)
|
(4,171)
|
Other comprehensive
(loss) income
|
|
|
|
|
|
|
Foreign currency translation (loss) gain
|
(7,444)
|
|
(6,052)
|
|
32,012
|
4,817
|
Change in fair value of available for sale securities
|
-
|
|
-
|
|
55
|
8
|
Other
comprehensive (loss) income, net of tax
|
(7,444)
|
|
(6,052)
|
|
32,067
|
4,825
|
Comprehensive
(loss) income
|
(88,882)
|
|
(101,237)
|
|
2,698
|
405
|
Less:
Comprehensive loss attributable to noncontrolling
interests
|
-
|
|
(4,255)
|
|
(1,658)
|
(249)
|
Comprehensive
(loss) income attributable to 500.com Limited
|
(88,882)
|
|
(96,982)
|
|
4,356
|
654
|
|
|
|
|
|
|
|
Losses per share
attributable to 500.com Limited
|
|
|
|
|
|
|
Basic
|
(0.23)
|
|
(0.22)
|
|
(0.07)
|
(0.01)
|
Diluted
|
(0.23)
|
|
(0.22)
|
|
(0.07)
|
(0.01)
|
Losses per
ADS* attributable to 500.com Limited
|
|
|
|
|
|
|
Basic
|
(2.31)
|
|
(2.17)
|
|
(0.67)
|
(0.10)
|
Diluted
|
(2.31)
|
|
(2.17)
|
|
(0.67)
|
(0.10)
|
Weighted average
number of Class A and Class B ordinary shares
outstanding:
|
|
|
|
|
|
|
Basic
|
352,320,449
|
|
418,584,825
|
|
413,814,006
|
413,814,006
|
Diluted
|
352,320,449
|
|
418,584,825
|
|
413,814,006
|
413,814,006
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* American Depositary
Shares, which are traded on the NYSE. Each ADS represents ten Class
A ordinary shares of the Company.
|
500.com
Limited
|
Reconciliation of
non-GAAP results of operations measures to the nearest comparable
GAAP measures
|
(Amounts in
thousands of Renminbi ("RMB") and U.S. dollars
("US$"),
|
except for number
of shares, per share (or ADS) data)
|
|
|
Three Months
Ended
|
|
June 30,
2015
|
|
March 31,
2016
|
|
June 30,
2016
|
June 30,
2016
|
|
RMB
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
Operating
loss
|
(96,385)
|
|
(97,349)
|
|
(89,371)
|
(13,448)
|
Adjustment for share-based compensation expenses
|
50,652
|
|
48,017
|
|
48,706
|
7,329
|
Adjusted operating
loss (non-GAAP)
|
(45,733)
|
|
(49,332)
|
|
(40,665)
|
(6,119)
|
|
|
|
|
|
|
|
Net loss
attributable to 500.com Limited
|
(81,438)
|
|
(90,930)
|
|
(27,711)
|
(4,171)
|
Adjustment for
share-based compensation expenses
|
50,652
|
|
48,017
|
|
48,706
|
7,329
|
Adjusted net
(loss) income attributable to 500.com
Limited (non-GAAP)
|
(30,786)
|
|
(42,913)
|
|
20,995
|
3,158
|
|
|
|
|
|
|
|
Losses (Earnings)
per share attributable to
500.com Limited (non-GAAP)
|
|
|
|
|
|
|
Basic
|
(0.09)
|
|
(0.10)
|
|
0.05
|
0.01
|
Diluted
|
(0.09)
|
|
(0.10)
|
|
0.05
|
0.01
|
Losses (Earnings)
per ADS* attributable to
500.com Limited (non-GAAP)
|
|
|
|
|
|
|
Basic
|
(0.87)
|
|
(1.03)
|
|
0.51
|
0.08
|
Diluted
|
(0.87)
|
|
(1.03)
|
|
0.49
|
0.07
|
Weighted average
number of Class A and Class B
ordinary shares outstanding:
|
|
|
|
|
|
|
Basic
|
352,320,449
|
|
418,584,825
|
|
413,814,006
|
413,814,006
|
Diluted
|
352,320,449
|
|
418,584,825
|
|
424,203,719
|
424,203,719
|
|
|
|
|
|
|
|
* American Depositary
Shares, which are traded on the NYSE. Each ADS represents ten Class
A ordinary shares of the Company.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/500com-limited-announces-financial-results-for-the-second-quarter-of-2016-300313268.html
SOURCE 500.com Limited