SHENZHEN, China,
Nov. 10, 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
third 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 third
quarter of 2016. The
Company recorded an operating loss for the third quarter of
2016.
Third Quarter
2016
Highlights
- Total purchase amount of sports lottery was nil, compared
with nil for the second quarter of 2016, and nil for the third
quarter of 2015.
- Net revenues were nil, compared with RMB1.2 million for the second quarter of 2016,
and nil for the third quarter of 2015.
- Operating loss was RMB81.6
million (US$12.2 million),
compared with operating loss of RMB89.4
million for the second quarter of 2016, and operating loss
of RMB79.2 million for the third
quarter of 2015.
- Non-GAAP1 operating loss was RMB48.3 million (US$7.2
million), compared with non-GAAP operating loss of
RMB40.7 million for the second
quarter of 2016, and non-GAAP operating loss of RMB44.7 million for the third quarter of
2015.
- Net loss attributable to 500.com was RMB75.3 million (US$11.3
million), compared with net loss attributable to 500.com of
RMB27.7 million for the second
quarter of 2016, and net loss attributable to 500.com of
RMB80.7 million for the third 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 the 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 third 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."
Third Quarter
2016 Operational
Results
Due to the voluntary temporary suspension, no operational
results were recorded and presented currently.
Third Quarter
2016 Financial
Results
Net Revenues
Net revenues
were nil, compared with
RMB1.2 million for
the second quarter of
2016, and nil
for the third quarter of
2015. Net revenues for the
second quarter of 2016 were primarily generated from the rendering
of technical and data maintenance services by Sumpay.cn, which was
disposed in the second quarter of 2016.
Operating Expenses
Operating
expenses were RMB82.4 million
(US$12.4 million), representing
an increase of 1.2%
from RMB81.4 million during the
third quarter of 2015,
and a decrease of 14.3% from
RMB96.2 million during the
second quarter of
2016. The year-over-year
increase was mainly
due to an increase
in consulting expenses of RMB5.9
million, an increase in technical maintenance expenses of
RMB1.4 million, and a reversal of bad
debt provision of RMB1.1 million
during the third quarter of 2015, which were partially offset by a
decrease in advertising expenses associated with the
Company's marketing campaign on TV and other media of
RMB4.0 million, a decrease in salary
expenses of RMB2.7 million, and a
decrease in share-based compensation expenses associated with share
options granted to the Company's employees of RMB1.3 million. The sequential decrease was
mainly due to a decrease in share-based compensation expenses
associated with share options granted to the Company's employees of
RMB15.4 million, a decrease in salary
expenses of RMB3.2 million, a
decrease in the amortization of the online payment and other
licenses of RMB1.7 million due to the
disposal of Sumpay.cn in the second quarter of 2016, which were
partially offset by an increases in consulting expenses of
RMB7.1 million, and an increase in
technical maintenance expenses of RMB1.1
million.
Cost of services was RMB2.8
million (US$0.4 million),
representing a decrease of 17.6% from
RMB3.4 million during the
third quarter of 2015,
and a decrease of 17.6% from RMB3.4 million during
the second quarter of
2016. The year-over-year decrease
was mainly due to a decline in
salary expenses of RMB0.6
million. The sequential decrease was mainly due to
a decline in salary expenses of
RMB0.3 million, and a decline in
share-based compensation expenses associated with share options
granted to the Company's employees of RMB0.3
million.
Sales and marketing expenses were
RMB8.0 million
(US$1.2 million), representing a decrease
of 42.0% from RMB13.8
million during the third quarter of
2015, and a decrease of
29.2% from RMB11.3
million during the second quarter
of 2016. The year-over-year decrease was
mainly due to a decline in advertising expenses associated with the
Company's marketing campaign on TV and other media of
RMB4.0 million, and a decline in
bonuses of RMB1.1
million. The sequential
decrease was mainly attributable to
a decline in share-based compensation expenses associated with
share options granted to the Company's employees of RMB1.4 million, and a decline in salary expenses
of RMB1.1 million as a result of the
disposal of Sumpay.cn in the second quarter of
2016.
General and administrative expenses were
RMB56.7 million
(US$8.5 million), representing
an increase of
16.9% from RMB48.5
million during the third quarter of
2015, and a decrease
of 10.4% from
RMB63.3 million during the
second quarter of
2016. The year-over-year
increase was
attributable to an increase in
consulting expenses of RMB5.9
million, an increase in depreciation of RMB0.7 million, and a reversal of bad debt
provision of RMB1.1 million during
the third quarter of 2015, which were partially offset by a
decrease in share-based compensation expenses associated with share
options granted to the Company's employees of RMB1.2 million. The sequential decrease was
mainly due to a decrease in share-based compensation expenses
associated with share options granted to the Company's employees of
RMB11.3 million, and a decrease in
the amortization of the online payment and other licenses of
RMB1.7 million, which were partially
offset by an increase in consulting expenses of RMB7.1 million.
Service development expenses were
RMB15.0 million
(US$2.2 million), representing
a decrease of 3.8%
from RMB15.6 million during the
third quarter of 2015,
and a decrease of
17.6% from RMB18.2
million during the second quarter
of 2016. The
year-over-year decrease
was mainly due to a decrease
in salary expense of RMB2.2
million, which was partially offset by an increase in
technical maintenance expenses of RMB1.4
million. The sequential
decrease was mainly
due to a decrease in share-based compensation expenses
associated with share options granted to the Company's employees of
RMB2.4 million, and a decrease in
salary expenses of RMB1.2 million as
a result of the disposal of Sumpay.cn in the second quarter of
2016, which were partially offset by an increase in technical
maintenance expenses of RMB1.1
million.
Operating Loss
Operating
loss was RMB81.6 million
(US$12.2 million), compared with
operating loss of
RMB79.2 million during the
third quarter of 2015,
and operating loss of RMB89.4 million
during the second quarter of
2016. The Company did not generate any
revenue from sports lottery sales in the third
quarter of 2016 due to the
voluntary temporary suspension, which materially affected operating
results for the third quarter of
2016.
Non-GAAP operating loss was RMB48.3
million (US$7.2 million), compared
with non-GAAP operating loss of
RMB44.7 million during the
third quarter of 2015,
and non-GAAP operating loss of RMB40.7
million during the second quarter
of 2016.
Net Loss Attributable to
500.com
Net loss attributable
to 500.com was RMB75.3 million
(US$11.3 million), compared with
net loss attributable to 500.com of
RMB80.7 million during the
third quarter of 2015,
and net loss attributable to 500.com of RMB27.7
million during the second quarter
of 2016. The
sequential increase
was 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 loss attributable
to 500.com was RMB41.9 million
(US$6.3 million), compared with non-GAAP
net loss attributable to 500.com of
RMB46.1 million during the
third quarter of 2015,
and non-GAAP net income attributable to
500.com of RMB21.0 million during
the second quarter of
2016.
Basic and Diluted Net Loss per
ADS
Basic and diluted net
losses per ADS were
RMB1.82 and
RMB1.82,
respectively.
Non-GAAP basic and diluted net losses
per ADS were RMB1.01 and
RMB1.01,
respectively.
Cash and Cash Equivalents,
Restricted Cash, Time Deposits, and Short-term
Investments
As of September 30,
2016, the Company had cash and cash
equivalents of RMB449.7 million
(US$67.4 million), restricted
cash2 of RMB3.7 million
(US$0.6 million),
time deposits3 of RMB1,115.2
million (US$167.2 million),
and short-term investments of RMB 100.0 million (US$15.0
million), compared with cash and cash
equivalents of RMB1,238.5 million,
restricted cash of RMB3.8
million, time deposits of
RMB358.1 million,
and short-term investments of
RMB100.0 million as
of June 30,
2016.
|
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.
|
Account Receivables
As of
September 30,
2016, the Company had gross account
receivables of RMB19.8 million
(US$3.0 million), compared with
RMB19.8 million as of
June 30,
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 September 30,
2016, the balance of prepayment and other
current assets was RMB23.6 million
(US$3.5 million), compared with
RMB30.8 million as of
June 30,
2016. The balance as of
September 30,
2016 mainly included: (i) the current
portion of deferred expenses of RMB6.8
million (US$1.0 million); (ii)
interest receivable of RMB2.7 million
(US$0.4 million); and
(iii) other receivables of RMB14.1
million (US$2.1
million).
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 RMB6.6685 to
US$1.00, as set forth in the H.10
statistical release of the Federal Reserve Board on
September 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
E-mail:
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
|
|
September 30,
2016
|
September 30,
2016
|
|
RMB
|
|
RMB
|
US$
|
|
Audited
|
|
Unaudited
|
Unaudited
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
400,657
|
|
449,656
|
67,430
|
|
Restricted
cash
|
10,599
|
|
3,695
|
554
|
|
Time
deposits
|
1,220,797
|
|
1,115,193
|
167,233
|
|
Short-term
investments
|
45,540
|
|
100,000
|
14,996
|
|
Accounts
receivable
|
3,638
|
|
-
|
-
|
|
Prepayments
and other current assets
|
30,855
|
|
23,580
|
3,536
|
|
Total current
assets
|
1,712,086
|
|
1,692,124
|
253,749
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property and
equipment, net
|
44,194
|
|
41,799
|
6,268
|
|
Intangible
assets, net
|
200,148
|
|
2,718
|
408
|
|
Goodwill
|
64,899
|
|
2,325
|
349
|
|
Deposits
|
1,217
|
|
5,544
|
831
|
|
Long-term
investments
|
60,332
|
|
65,883
|
9,880
|
|
Other
non-current assets
|
1,621
|
|
2,497
|
374
|
|
Total non-current
assets
|
372,411
|
|
120,766
|
18,110
|
|
|
|
|
|
|
TOTAL
ASSETS
|
2,084,497
|
|
1,812,890
|
271,859
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
106
|
|
-
|
-
|
|
Accrued
payroll and welfare payable
|
15,890
|
|
4,748
|
712
|
|
Accrued
expenses and other current liabilities
|
140,612
|
|
62,673
|
9,398
|
|
Income tax
payable
|
1,214
|
|
14,401
|
2,160
|
|
Total current
liabilities
|
157,822
|
|
81,822
|
12,270
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Long-term
payables
|
46,928
|
|
44,353
|
6,651
|
|
Deferred tax
liabilities
|
13,411
|
|
-
|
-
|
|
Total non-current
liabilities
|
60,339
|
|
44,353
|
6,651
|
|
|
|
|
|
|
Total
liabilities
|
218,161
|
|
126,175
|
18,921
|
|
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
|
|
Class A ordinary
shares, par value
US$0.00005 per share, 700,000,000
shares authorized as of December 31,
2015 and September 30, 2016; 334,034,932
and 340,580,272 shares issued and outstanding
as of December 31, 2015 and September 30,
2016, respectively
|
110
|
|
115
|
17
|
|
Class B ordinary
shares, par value
US$0.00005 per share; 300,000,000 shares
authorized as of December 31, 2015 and
September 30, 2016; 84,999,159 and
74,400,299 shares issued and outstanding as
of December 31, 2015 and September 30,
2016, respectively
|
32
|
|
28
|
4
|
|
Additional paid-in
capital
|
2,022,369
|
|
2,161,626
|
324,155
|
|
Treasury
shares
|
(8,773)
|
|
(71,148)
|
(10,669)
|
|
Accumulated
deficit
|
(335,363)
|
|
(529,271)
|
(79,369)
|
|
Accumulated other
comprehensive income
|
89,488
|
|
125,365
|
18,800
|
|
Total 500.com
Limited shareholders' equity
|
1,767,863
|
|
1,686,715
|
252,938
|
|
Noncontrolling
interests
|
98,473
|
|
-
|
-
|
|
Total
shareholders' equity
|
1,866,336
|
|
1,686,715
|
252,938
|
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
2,084,497
|
|
1,812,890
|
271,859
|
|
500.com
Limited
Condensed Consolidated Statements of Comprehensive Income
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$"),
except for number of shares, per share (or ADS)
data)
|
|
|
Three Months
Ended
|
|
September 30,
2015
|
|
June 30,
2016
|
|
September 30,
2016
|
September 30,
2016
|
|
RMB
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
|
Net
Revenues
|
-
|
|
1,238
|
|
-
|
-
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Cost of
services
|
(3,395)
|
|
(3,436)
|
|
(2,752)
|
(413)
|
|
Sales and
marketing
|
(13,848)
|
|
(11,303)
|
|
(7,971)
|
(1,195)
|
|
General
and administrative
|
(48,535)
|
|
(63,339)
|
|
(56,699)
|
(8,503)
|
|
Service
development expenses
|
(15,643)
|
|
(18,163)
|
|
(14,995)
|
(2,249)
|
|
Total operating
expenses
|
(81,421)
|
|
(96,241)
|
|
(82,417)
|
(12,360)
|
|
Other operating
income
|
2,329
|
|
897
|
|
352
|
53
|
|
Government
grant
|
213
|
|
5,081
|
|
717
|
108
|
|
Other operating
expense
|
(363)
|
|
(346)
|
|
(297)
|
(45)
|
|
Operating
loss
|
(79,242)
|
|
(89,371)
|
|
(81,645)
|
(12,244)
|
|
Interest
income
|
6,047
|
|
3,609
|
|
7,986
|
1,198
|
|
Interest
expense
|
(1,828)
|
|
-
|
|
-
|
-
|
|
Loss from equity
method investments
|
(94)
|
|
(73)
|
|
(63)
|
(9)
|
|
Gain from disposal of
subsidiaries
|
-
|
|
64,778
|
|
-
|
-
|
|
Loss before income
tax
|
(75,117)
|
|
(21,057)
|
|
(73,722)
|
(11,055)
|
|
Income tax
expense
|
(5,589)
|
|
(8,312)
|
|
(1,545)
|
(232)
|
|
Net
loss
|
(80,706)
|
|
(29,369)
|
|
(75,267)
|
(11,287)
|
|
Less: Net loss attributable to the non-controlling
interests
|
-
|
|
(1,658)
|
|
-
|
-
|
|
Net loss
attributable to 500.com Limited
|
(80,706)
|
|
(27,711)
|
|
(75,267)
|
(11,287)
|
|
Other comprehensive
income
|
|
|
|
|
|
|
|
Foreign currency translation gain
|
48,852
|
|
32,012
|
|
8,655
|
1,298
|
|
Change in fair value of available for sale securities
|
-
|
|
55
|
|
1,207
|
181
|
|
Other
comprehensive income, net of tax
|
48,852
|
|
32,067
|
|
9,862
|
1,479
|
|
Comprehensive
(loss) income
|
(31,854)
|
|
2,698
|
|
(65,405)
|
(9,808)
|
|
Less: Comprehensive loss attributable to noncontrolling
interests
|
-
|
|
(1,658)
|
|
-
|
-
|
|
Comprehensive
(loss) income attributable to 500.com Limited
|
(31,854)
|
|
4,356
|
|
(65,405)
|
(9,808)
|
|
|
|
|
|
|
|
|
Losses per share
attributable to 500.com
Limited
|
|
|
|
|
|
|
|
Basic
|
(0.19)
|
|
(0.07)
|
|
(0.18)
|
(0.03)
|
|
Diluted
|
(0.19)
|
|
(0.07)
|
|
(0.18)
|
(0.03)
|
|
Losses per
ADS* attributable to 500.com
Limited
|
|
|
|
|
|
|
|
Basic
|
(1.93)
|
|
(0.67)
|
|
(1.82)
|
(0.27)
|
|
Diluted
|
(1.93)
|
|
(0.67)
|
|
(1.82)
|
(0.27)
|
|
Weighted average
number of Class A and
Class B ordinary shares outstanding:
|
|
|
|
|
|
|
|
Basic
|
418,474,696
|
|
413,814,006
|
|
414,412,535
|
414,412,535
|
|
Diluted
|
418,474,696
|
|
413,814,006
|
|
414,412,535
|
414,412,535
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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$"),
except for number of shares, per share (or ADS)
data)
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
September 30,
2015
|
|
June 30,
2016
|
|
September 30,
2016
|
September 30,
2016
|
|
RMB
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
|
Operating
loss
|
(79,242)
|
|
(89,371)
|
|
(81,645)
|
(12,244)
|
|
Adjustment for share-based compensation expenses
|
34,590
|
|
48,706
|
|
33,325
|
4,997
|
|
Adjusted operating
loss (non-GAAP)
|
(44,652)
|
|
(40,665)
|
|
(48,320)
|
(7,247)
|
|
|
|
|
|
|
|
|
Net loss
attributable to 500.com Limited
|
(80,706)
|
|
(27,711)
|
|
(75,267)
|
(11,287)
|
|
Adjustment for share-based compensation expenses
|
34,590
|
|
48,706
|
|
33,325
|
4,997
|
|
Adjusted net
(loss) income attributable to
500.com Limited (non-GAAP)
|
(46,116)
|
|
20,995
|
|
(41,942)
|
(6,290)
|
|
|
|
|
|
|
|
|
(Losses) Earnings
per share attributable to
500.com Limited (non-GAAP)
|
|
|
|
|
|
|
|
Basic
|
(0.11)
|
|
0.05
|
|
(0.10)
|
(0.02)
|
|
Diluted
|
(0.11)
|
|
0.05
|
|
(0.10)
|
(0.02)
|
|
(Losses) Earnings
per ADS* attributable to
500.com Limited (non-GAAP)
|
|
|
|
|
|
|
|
Basic
|
(1.10)
|
|
0.51
|
|
(1.01)
|
(0.15)
|
|
Diluted
|
(1.10)
|
|
0.49
|
|
(1.01)
|
(0.15)
|
|
Weighted average
number of Class A and
Class B ordinary shares outstanding:
|
|
|
|
|
|
|
|
Basic
|
418,474,696
|
|
413,814,006
|
|
414,412,535
|
414,412,535
|
|
Diluted
|
418,474,696
|
|
424,203,719
|
|
414,412,535
|
414,412,535
|
|
|
|
|
|
|
|
|
* 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-third-quarter-of-2016-300360507.html
SOURCE 500.com Limited