SHENZHEN, China, Feb. 23, 2017 /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 fourth
quarter and full year 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 fourth quarter of 2016 and
full year of 2016. The Company recorded an operating loss for the
fourth quarter and full year of 2016.
Investment in Qufan
On November 25, 2016, the Company
invested in Qufan Internet Technology Inc. and Shenzhen Qufan
Internet Technology Co., Ltd. (together "Qufan"), an operator of
mobile social poker games. 500.com is investing in ordinary shares
representing a 51.0% equity interest in each of Qufan Internet
Technology Inc. and Shenzhen Qufan Internet Technology Co., Ltd.
for an aggregate cash consideration of RMB110.5 million (approximately US$16.0 million). 500.com will cooperate with
Qufan to help develop and promote its mobile social poker games
platform.
Fourth Quarter 2016 Highlights
- Net revenues were RMB7.5 million
(US$1.1 million), compared with nil
for the third quarter of 2016, and RMB0.7
million for the fourth quarter of 2015.
- Operating loss was RMB94.9
million (US$13.7 million),
compared with operating loss of RMB81.6
million for the third quarter of 2016, and operating loss of
RMB72.3 million for the fourth
quarter of 2015.
- Non-GAAP1 operating loss was RMB61.6 million (US$8.9
million), compared with non-GAAP operating loss of
RMB48.3 million for the third quarter
of 2016, and non-GAAP operating loss of RMB37.8 million for the fourth quarter of
2015.
- Net loss attributable to 500.com was RMB5.7 million (US$0.8
million), compared with net loss attributable to 500.com of
RMB75.3 million for the third quarter
of 2016, and net loss attributable to 500.com of RMB109.7 million for the fourth quarter of
2015.
- Non-GAAP net income attributable to 500.com was RMB27.6 million (US$4.0
million), compared with non-GAAP net loss attributable to
500.com of RMB41.9 million for the
third quarter of 2016, and non-GAAP net loss attributable to
500.com of RMB31.3 million for the
fourth quarter of 2015.
- Basic and diluted losses per ADS were RMB0.14 and RMB0.14, respectively.
- Non-GAAP basic and diluted income per ADS were RMB0.67 and RMB0.65, respectively.
1 Non-GAAP
financial measures exclude the impact of share-based compensation
expenses, and deferred tax expenses relating to valuation
allowance. Reconciliations of non-GAAP financial measures to U.S.
GAAP financial measures are set forth in the table at the end of
this release.
|
Full Year 2016 Highlights
- Net revenues were RMB10.9 million
(US$1.6 million), compared with
RMB99.6 million for the full year
2015.
- Operating loss was RMB363.2
million (US$52.3 million),
compared with RMB301.4 million for
the full year 2015.
- Non-GAAP operating loss was RMB199.9
million (US$28.8 million),
compared with non-GAAP operating loss of RMB142.8 million for the full year 2015.
- Net loss attributable to 500.com was RMB199.6 million (US$28.8
million), compared with RMB323.9
million for the full year 2015.
- Non-GAAP net loss attributable to 500.com was RMB36.3 million (US$5.2
million), compared with RMB125.2
million for the full year 2015.
- Basic and diluted losses per ADS were RMB4.81 and RMB4.81, respectively.
- Non-GAAP basic and diluted losses per ADS were RMB0.87 and RMB0.87, respectively.
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 results for the
fourth 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."
Fourth Quarter 2016 Financial
Results
Net Revenues
Net revenues were RMB7.5 million
(US$1.1 million), compared with nil
for the third quarter of 2016, and RMB0.7
million for the fourth quarter of 2015. Net revenues for the
fourth quarter of 2016 were primarily generated from mobile gaming,
and sports information and data services from Qufan as well as the
Company's newly-launched mobile applications.
Operating Expenses
Operating expenses were RMB96.3
million (US$13.9 million),
representing an increase of 27.0% from RMB75.8 million during the fourth quarter of
2015, and an increase of 16.9% from RMB82.4
million during the third quarter of 2016. The year-over-year
increase was mainly due to increases in salary expenses of
RMB7.0 million, rental expenses of
RMB4.5 million, consulting expenses
of RMB3.9 million, and marketing and
promotional expenses relating to mobile gaming and sports
information and data services of RMB2.7
million, 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. In addition, an impairment provision of long-term
investment of RMB5.0 million, and a
reversal of bad debt provision of RMB7.5
million were made in the fourth quarter of 2015. No such
impairments were provided or reversed in the fourth quarter of
2016. The sequential increase was mainly due to increases in salary
expenses of RMB9.2 million, rental
expenses of RMB2.8 million, and
marketing and promotional expenses relating to mobile gaming and
sports information and data services of RMB2.4 million, which were partially offset by a
decrease in consulting expenses of RMB2.5
million, and a decrease in technical maintenance expenses of
RMB1.2 million.
Cost of services was RMB4.2
million (US$0.6 million),
representing an increase of 20.0% from RMB3.5 million during the fourth quarter of 2015,
and an increase of 50.0% from RMB2.8
million during the third quarter of 2016. The year-over-year
increase was mainly due to an increase in amortization associated
with intangible assets of RMB1.2
million, and a decline in salary expenses of RMB0.5 million. The sequential increase was
attributable to an increase in amortization associated with
intangible assets of RMB1.2
million.
Sales and marketing expenses were RMB12.5
million (US$1.8 million),
representing an increase of 43.7% from RMB8.7 million during the fourth quarter of 2015,
and an increase of 56.3% from RMB8.0
million during the third quarter of 2016. The year-over-year
increase was mainly due to an increase in marketing and promotional
expenses relating to mobile gaming and sports information and data
services of RMB2.7 million, and an
increase in salary expenses of RMB1.5
million. The sequential increase was mainly attributable to
increases in marketing and promotional expenses relating to mobile
gaming and sports information and data services of RMB2.4 million, and salary expenses of
RMB1.7 million.
General and administrative expenses were RMB62.8 million (US$9.1
million), representing an increase of 31.1% from
RMB47.9 million during the fourth
quarter of 2015, and an increase of 10.8% from RMB56.7 million during the third quarter of 2016.
The year-over-year increase was attributable to increases in salary
expenses of RMB4.6 million,
consulting expenses of RMB3.9
million, and rental expenses of RMB4.7 million, 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. In addition, an impairment
provision of long-term investment of RMB5.0
million, and a reversal of bad debt provision of
RMB7.5 million were made in the
fourth quarter of 2015. No such impairments were provided or
reversed in the fourth quarter of 2016. The sequential increase was
mainly due to increases in salary expenses of RMB4.4 million, travel expenses of RMB0.8 million, and rental expenses of
RMB3.0 million, which were partially
offset by a decrease in consulting expenses of RMB2.5 million.
Service development expenses were RMB16.8
million (US$2.4 million),
representing an increase of 7.0% from RMB15.7 million during the fourth quarter of
2015, and an increase of 12.0% from RMB15.0
million during the third quarter of 2016. The year-over-year
increase was mainly due to an increase in salary expenses of
RMB1.4 million. The sequential
increase was mainly due to an increase in salary expenses of
RMB3.1 million, which was partially
offset by a decrease in technical maintenance expenses of
RMB1.2 million.
Operating Loss
Operating loss was RMB94.9 million
(US$13.7 million), compared with
operating loss of RMB72.3 million
during the fourth quarter of 2015, and operating loss of
RMB81.6 million during the third
quarter of 2016.
Non-GAAP operating loss was RMB61.6
million (US$8.9 million),
compared with non-GAAP operating loss of RMB37.8 million during the fourth quarter of
2015, and non-GAAP operating loss of RMB48.3
million during the third quarter of 2016.
Net Loss Attributable to 500.com
Net loss attributable to 500.com was RMB5.7 million (US$0.8
million), compared with net loss attributable to 500.com of
RMB109.7 million during the fourth
quarter of 2015, and net loss attributable to 500.com of
RMB75.3 million during the third
quarter of 2016. The year-over-year decrease was mainly due to an
increase in operating expenses of RMB20.5
million, a settlement payment of RMB10.0 million relating to the stockholder class
action lawsuit during the fourth quarter of 2016, which were offset
by a gain from the disposal of Sumpay.cn of RMB72.1 million recognized during the fourth
quarter of 2016, and deferred tax expenses relating to valuation
allowance of RMB43.9 million
recognized during the fourth quarter of 2015. The sequential
decrease was mainly due to a gain from the disposal of Sumpay.cn of
RMB72.1 million recognized during the
fourth quarter of 2016.
Non-GAAP net income attributable to 500.com was RMB27.6 million (US$4.0
million), compared with non-GAAP net loss attributable to
500.com of RMB31.3 million during the
fourth quarter of 2015, and non-GAAP net loss attributable to
500.com of RMB41.9 million during the
third quarter of 2016.
Full Year 2016 Financial Results
Net revenues for the full year 2016 were RMB10.9 million (US$1.6
million), representing a decrease of 89.1% from RMB99.6 million for the full year 2015.
Operating loss for the full year 2016 was RMB363.2 million (US$52.3
million), representing an increase of 20.5% from
RMB301.4 million for the full year
2015.
Net loss attributable to 500.com for the full year 2016 was
RMB199.6 million (US$28.8 million), representing a decrease of
38.4% from RMB323.9 million for the
full year 2015.
Non-GAAP net loss attributable to 500.com for the full year 2016
was RMB36.3 million (US$5.2 million), representing a decrease of 71.0%
from RMB125.2 million for the full
year 2015.
Cash and Cash Equivalents, Restricted Cash, Time
Deposits, and Short-term Investments
As of December 31, 2016, the
Company had cash and cash equivalents of RMB673.1 million (US$96.9
million), restricted cash2 of RMB3.7 million (US$0.5
million), time deposits3 of RMB804.7 million (US$115.9
million), and short-term investments of RMB100.0 million (US$14.4
million), compared with cash and cash equivalents of
RMB449.7 million, restricted cash of
RMB3.7 million, time deposits of
RMB1,115.2 million, and short-term
investments of RMB100.0 million as of
September 30, 2016.
Prepayments and Other Current Assets
As of December 31, 2016, the
balance of prepayment and other current assets was RMB125.5 million (US$18.1
million), compared with RMB23.6
million as of September 30,
2016. The balance as of December 31,
2016 mainly included: (i) the remaining consideration of
RMB71.8 million (US$10.3 million) relating to the disposal of
equity interest in Sumpay.cn; (ii) the current portion of deferred
expenses of RMB20.9 million
(US$3.0 million); (iii) receivables
from third party payment service providers of RMB13.5 million (US$1.9
million); (iv) interest receivable of RMB4.9 million (US$0.7
million); and (v) other receivables of RMB14.4 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
RMB6.9430 to US$1.00, as set forth in the H.10 statistical
release of the Federal Reserve Board on December 31, 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, and deferred tax expense relating to valuation
allowance. 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
|
|
December 31,
2016
|
December 31,
2016
|
|
RMB
|
|
RMB
|
US$
|
|
Audited
|
|
Unaudited
|
Unaudited
|
|
|
|
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
400,657
|
|
673,102
|
96,947
|
Restricted
cash
|
10,599
|
|
3,704
|
533
|
Time
deposits
|
1,220,797
|
|
804,692
|
115,900
|
Short-term
investments
|
45,540
|
|
100,000
|
14,403
|
Accounts
receivable
|
3,638
|
|
-
|
-
|
Prepayments and other
current assets
|
30,855
|
|
125,533
|
18,078
|
Total current
assets
|
1,712,086
|
|
1,707,031
|
245,861
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
Property and
equipment, net
|
44,194
|
|
53,935
|
7,768
|
Intangible assets,
net
|
200,148
|
|
61,547
|
8,865
|
Goodwill
|
64,899
|
|
160,438
|
23,108
|
Deposits
|
1,217
|
|
5,810
|
837
|
Long-term
investments
|
60,332
|
|
88,928
|
12,808
|
Other non-current
assets
|
1,621
|
|
2,671
|
386
|
Total non-current
assets
|
372,411
|
|
373,329
|
53,772
|
|
|
|
|
|
TOTAL
ASSETS
|
2,084,497
|
|
2,080,360
|
299,633
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts
payable
|
106
|
|
-
|
-
|
Accrued payroll
and welfare payable
|
15,890
|
|
16,270
|
2,343
|
Accrued
expenses and other current liabilities
|
140,612
|
|
184,155
|
26,524
|
Income tax
payable
|
1,214
|
|
9,050
|
1,303
|
Total current
liabilities
|
157,822
|
|
209,475
|
30,170
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
Long-term
payables
|
46,928
|
|
44,472
|
6,405
|
Deferred tax
liabilities
|
13,411
|
|
14,902
|
2,146
|
Total non-current
liabilities
|
60,339
|
|
59,374
|
8,551
|
|
|
|
|
|
Total
liabilities
|
218,161
|
|
268,849
|
38,721
|
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
|
Class A ordinary
shares, par value
US$0.00005 per share, 700,000,000
shares authorized as of December 31,
2015 and December 31, 2016; 334,034,932
and 335,494,792 shares issued and
outstanding as of December 31, 2015 and
December 31, 2016, respectively
|
110
|
|
115
|
17
|
Class B ordinary
shares, par value
US$0.00005 per share; 300,000,000 shares
authorized as of December 31, 2015 and
December 31, 2016; 84,999,159 and 74,400,299
shares issued and outstanding as of December
31, 2015 and December 31, 2016, respectively
|
32
|
|
28
|
4
|
Additional paid-in
capital
|
2,022,369
|
|
2,198,385
|
316,633
|
Treasury
shares
|
(8,773)
|
|
(123,258)
|
(17,753)
|
Accumulated
deficit
|
(335,363)
|
|
(535,002)
|
(77,056)
|
Accumulated other
comprehensive income
|
89,488
|
|
172,731
|
24,878
|
Total 500.com
Limited shareholders' equity
|
1,767,863
|
|
1,712,999
|
246,723
|
Noncontrolling
interests
|
98,473
|
|
98,512
|
14,189
|
Total
shareholders' equity
|
1,866,336
|
|
1,811,511
|
260,912
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
2,084,497
|
|
2,080,360
|
299,633
|
500.com
Limited
Condensed Consolidated Statements of Comprehensive Income
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$"),
except for number of shares, per share (or ADS)
data)
|
|
Three Months
Ended
|
|
Twelve
Months Ended
|
|
December 31,
2015
|
|
December 31,
2016
|
December 31,
2016
|
|
December 31,
2015
|
|
December 31,
2016
|
December 31,
2016
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
|
Audited
|
|
Unaudited
|
Unaudited
|
Net
Revenues
|
707
|
|
7,469
|
1,076
|
|
99,552
|
|
10,928
|
1,574
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Cost of
services
|
(3,460)
|
|
(4,183)
|
(602)
|
|
(24,355)
|
|
(14,141)
|
(2,037)
|
Sales and
marketing
|
(8,715)
|
|
(12,493)
|
(1,799)
|
|
(87,022)
|
|
(44,921)
|
(6,470)
|
General
and administrative
|
(47,937)
|
|
(62,843)
|
(9,051)
|
|
(232,244)
|
|
(244,362)
|
(35,195)
|
Service
development expenses
|
(15,721)
|
|
(16,782)
|
(2,417)
|
|
(63,296)
|
|
(71,595)
|
(10,312)
|
Total operating
expenses
|
(75,833)
|
|
(96,301)
|
(13,869)
|
|
(406,917)
|
|
(375,019)
|
(54,014)
|
Other operating
income
|
1,627
|
|
1,461
|
210
|
|
6,910
|
|
2,732
|
393
|
Government
grant
|
1,353
|
|
2,603
|
375
|
|
2,022
|
|
10,017
|
1,443
|
Other operating
expense
|
(140)
|
|
(10,103)
|
(1,455)
|
|
(2,975)
|
|
(11,894)
|
(1,713)
|
Operating
loss
|
(72,286)
|
|
(94,871)
|
(13,663)
|
|
(301,408)
|
|
(363,236)
|
(52,317)
|
Interest
income
|
7,698
|
|
8,503
|
1,225
|
|
20,589
|
|
23,859
|
3,436
|
Interest
expense
|
(310)
|
|
-
|
-
|
|
(2,138)
|
|
-
|
-
|
Loss from equity
method investments
|
(118)
|
|
(92)
|
(13)
|
|
(407)
|
|
(406)
|
(58)
|
Gain from disposal of
subsidiaries
|
-
|
|
72,136
|
10,390
|
|
1,124
|
|
136,914
|
19,720
|
Loss before income
tax
|
(65,016)
|
|
(14,324)
|
(2,061)
|
|
(282,240)
|
|
(202,869)
|
(29,219)
|
Income tax
expense
|
(45,004)
|
|
8,219
|
1,184
|
|
(41,969)
|
|
(3,057)
|
(440)
|
Net
loss
|
(110,020)
|
|
(6,105)
|
(877)
|
|
(324,209)
|
|
(205,926)
|
(29,659)
|
Less: Net loss attributable to the non-controlling
interests
|
(312)
|
|
(374)
|
(54)
|
|
(312)
|
|
(6,287)
|
(906)
|
Net loss
attributable to 500.com Limited
|
(109,708)
|
|
(5,731)
|
(823)
|
|
(323,897)
|
|
(199,639)
|
(28,753)
|
Other comprehensive
income
|
|
|
|
|
|
|
|
|
|
Foreign currency translation gain
|
26,257
|
|
47,874
|
6,895
|
|
66,851
|
|
82,489
|
11,881
|
Change in fair value of available for sale securities
|
-
|
|
(508)
|
(73)
|
|
-
|
|
754
|
109
|
Other
comprehensive income, net of tax
|
26,257
|
|
47,366
|
6,822
|
|
66,851
|
|
83,243
|
11,990
|
Comprehensive
(loss) income
|
(83,763)
|
|
41,261
|
5,945
|
|
(257,358)
|
|
(122,683)
|
(17,669)
|
Less:
Comprehensive loss attributable to noncontrolling
interests
|
(312)
|
|
(374)
|
(54)
|
|
(312)
|
|
(6,287)
|
(906)
|
Comprehensive
(loss) income attributable to 500.com Limited
|
(83,451)
|
|
41,635
|
5,999
|
|
(257,046)
|
|
(116,396)
|
(16,763)
|
|
|
|
|
|
|
|
|
|
|
Losses per share
attributable to 500.com Limited
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.26)
|
|
(0.01)
|
(0.00)
|
|
(0.84)
|
|
(0.48)
|
(0.07)
|
Diluted
|
(0.26)
|
|
(0.01)
|
(0.00)
|
|
(0.84)
|
|
(0.48)
|
(0.07)
|
Losses per
ADS* attributable to 500.com Limited
|
|
|
|
|
|
|
|
|
|
Basic
|
(2.62)
|
|
(0.14)
|
(0.02)
|
|
(8.40)
|
|
(4.81)
|
(0.69)
|
Diluted
|
(2.62)
|
|
(0.14)
|
(0.02)
|
|
(8.40)
|
|
(4.81)
|
(0.69)
|
Weighted average
number of Class A and Class B ordinary
shares outstanding:
|
|
|
|
|
|
|
|
|
|
Basic
|
418,952,526
|
|
412,705,233
|
412,705,233
|
|
385,590,213
|
|
414,872,756
|
414,872,756
|
Diluted
|
418,952,526
|
|
412,705,233
|
412,705,233
|
|
385,590,213
|
|
414,872,756
|
414,872,756
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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$"),
except for number of shares, per share (or ADS)
data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Twelve
Months Ended
|
|
December 31,
2015
|
|
December 31,
2016
|
December 31,
2016
|
|
December 31,
2015
|
|
December 31,
2016
|
December 31,
2016
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
|
Audited
|
|
Unaudited
|
Unaudited
|
Operating
loss
|
(72,286)
|
|
(94,871)
|
(13,663)
|
|
(301,408)
|
|
(363,236)
|
(52,317)
|
Adjustment for share-based compensation expenses
|
34,530
|
|
33,293
|
4,795
|
|
158,628
|
|
163,341
|
23,526
|
Adjusted operating
loss (non-GAAP)
|
(37,756)
|
|
(61,578)
|
(8,868)
|
|
(142,780)
|
|
(199,895)
|
(28,791)
|
|
|
|
|
|
|
|
|
|
|
Net loss
attributable to 500.com Limited
|
(109,708)
|
|
(5,731)
|
(823)
|
|
(323,897)
|
|
(199,639)
|
(28,753)
|
Adjustment for
share-based compensation expenses
|
34,530
|
|
33,293
|
4,795
|
|
158,628
|
|
163,341
|
23,526
|
Adjustment for
deferred tax expenses relating to
valuation allowance
|
43,851
|
|
-
|
-
|
|
40,105
|
|
-
|
-
|
Adjusted net
(loss) income attributable to 500.com
Limited (non-GAAP)
|
(31,327)
|
|
27,562
|
3,972
|
|
(125,164)
|
|
(36,298)
|
(5,227)
|
|
|
|
|
|
|
|
|
|
|
(Losses) Earnings
per share attributable to 500.com
Limited (non-GAAP)
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.07)
|
|
0.07
|
0.01
|
|
(0.32)
|
|
(0.09)
|
(0.01)
|
Diluted
|
(0.07)
|
|
0.07
|
0.01
|
|
(0.32)
|
|
(0.09)
|
(0.01)
|
(Losses) Earnings
per ADS* attributable to 500.com
Limited (non-GAAP)
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.75)
|
|
0.67
|
0.10
|
|
(3.25)
|
|
(0.87)
|
(0.13)
|
Diluted
|
(0.75)
|
|
0.65
|
0.09
|
|
(3.25)
|
|
(0.87)
|
(0.13)
|
Weighted average
number of Class A and Class B
ordinary shares outstanding:
|
|
|
|
|
|
|
|
|
|
Basic
|
418,952,526
|
|
412,705,233
|
412,705,233
|
|
385,590,213
|
|
414,872,756
|
414,872,756
|
Diluted
|
418,952,526
|
|
423,747,037
|
423,747,037
|
|
385,590,213
|
|
414,872,756
|
414,872,756
|
|
|
|
|
|
|
|
|
|
|
* 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-fourth-quarter-and-full-year-of-2016-300412373.html
SOURCE 500.com Limited