SHENZHEN, China, Aug. 1, 2017 /PRNewswire/ -- 500.com Limited
(NYSE: WBAI) ("500.com" or the "Company"), a leading online sports
lottery service provider in China,
today announced that it filed a 6-K to report its income statement
for the six months ended June 30,
2017.
|
500.com
Limited
Condensed Consolidated Statements of Comprehensive Income
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$"),
except for number of shares, per share (or ADS)
data)
|
|
Six Months
Ended
|
|
June 30,
2016
|
|
June 30,
2017
|
June 30,
2017
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
|
Net
Revenues
|
3,459
|
|
37,751
|
5,569
|
|
|
|
|
|
|
Operating costs
and expenses:
|
|
|
|
|
|
Cost of
services
|
(7,206)
|
|
(11,541)
|
(1,702)
|
|
Sales and
marketing
|
(24,457)
|
|
(25,951)
|
(3,828)
|
|
General
and administrative
|
(124,820)
|
|
(104,454)
|
(15,408)
|
|
Service
development expenses
|
(39,818)
|
|
(30,472)
|
(4,495)
|
|
Total operating
expenses
|
(196,301)
|
|
(172,418)
|
(25,433)
|
|
Other operating
income
|
919
|
|
84
|
12
|
|
Government
grant
|
6,697
|
|
4,827
|
712
|
|
Other operating
expense
|
(1,494)
|
|
(3,610)
|
(533)
|
|
Operating
loss
|
(186,720)
|
|
(133,366)
|
(19,673)
|
|
Others,net
|
-
|
|
(4,449)
|
(656)
|
|
Interest
income
|
7,370
|
|
11,823
|
1,744
|
|
Loss from equity
method investments
|
(251)
|
|
(721)
|
(106)
|
|
Gain from disposal of
subsidiaries
|
64,778
|
|
-
|
-
|
|
Changes in fair value
of contingent considerations
|
-
|
|
(1,089)
|
(161)
|
|
Loss before income
tax
|
(114,823)
|
|
(127,802)
|
(18,852)
|
|
Income tax (expense)
benefit
|
(9,731)
|
|
18,036
|
2,660
|
|
Net
loss
|
(124,554)
|
|
(109,766)
|
(16,192)
|
|
Less: Net (loss) income attributable to the non-controlling
interests
|
(5,913)
|
|
5,177
|
764
|
|
Net loss
attributable to 500.com Limited
|
(118,641)
|
|
(114,943)
|
(16,956)
|
|
Other comprehensive
income (loss)
|
|
|
|
|
|
Foreign currency translation gain (loss)
|
25,960
|
|
(28,556)
|
(4,212)
|
|
Change in fair value of available for sale securities
|
55
|
|
(754)
|
(111)
|
|
Other
comprehensive income (loss), net of tax
|
26,015
|
|
(29,310)
|
(4,323)
|
|
Comprehensive
income (loss)
|
(98,539)
|
|
(139,076)
|
(20,515)
|
|
Less:
Comprehensive (loss) income attributable to noncontrolling
interests
|
(5,913)
|
|
5,177
|
764
|
|
Comprehensive
income (loss) attributable to 500.com Limited
|
(92,626)
|
|
(144,253)
|
(21,279)
|
|
|
|
|
|
|
Losses per share
attributable to 500.com Limited
|
|
|
|
|
|
Basic
|
(0.29)
|
|
(0.28)
|
(0.04)
|
|
Diluted
|
(0.29)
|
|
(0.28)
|
(0.04)
|
|
Losses per
ADS* attributable to 500.com Limited
|
|
|
|
|
|
Basic
|
(2.90)
|
|
(2.81)
|
(0.41)
|
|
Diluted
|
(2.90)
|
|
(2.81)
|
(0.41)
|
|
Weighted average
number of Class A and Class B ordinary shares
outstanding:
|
|
|
|
|
|
Basic
|
416,199,358
|
|
408,699,104
|
408,699,104
|
|
Diluted
|
416,199,358
|
|
408,699,104
|
408,699,104
|
|
|
|
|
|
|
|
|
|
|
|
* 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$"),
except for number of shares, per share (or ADS)
data)
|
|
|
|
|
|
|
Six Months
Ended
|
|
June 30,
2016
|
|
June 30,
2017
|
June 30,
2017
|
|
RMB
|
|
RMB
|
US$
|
|
Unaudited
|
|
Unaudited
|
Unaudited
|
|
Operating
loss
|
(186,720)
|
|
(133,366)
|
(19,673)
|
|
Adjustment for
share-based compensation expenses
|
96,723
|
|
54,571
|
8,050
|
|
Adjusted operating
loss (non-GAAP)
|
(89,997)
|
|
(78,795)
|
(11,623)
|
|
|
|
|
|
|
Net loss
attributable to 500.com Limited
|
(118,641)
|
|
(114,943)
|
(16,956)
|
|
Adjustment for
share-based compensation expenses
|
96,723
|
|
54,571
|
8,050
|
|
Adjusted net
(loss) income attributable to 500.com
Limited (non-GAAP)
|
(21,918)
|
|
(60,372)
|
(8,906)
|
|
|
|
|
|
|
Earnings (Losses)
per share attributable to
500.com Limited (non-GAAP)
|
|
|
|
|
|
Basic
|
(0.05)
|
|
(0.15)
|
(0.02)
|
|
Diluted
|
(0.05)
|
|
(0.15)
|
(0.02)
|
|
Earnings (Losses)
per ADS* attributable to
500.com Limited (non-GAAP)
|
|
|
|
|
|
Basic
|
(0.53)
|
|
(1.48)
|
(0.22)
|
|
Diluted
|
(0.53)
|
|
(1.48)
|
(0.22)
|
|
Weighted average
number of Class A and Class B
ordinary shares outstanding:
|
|
|
|
|
|
Basic
|
416,199,358
|
|
408,699,104
|
408,699,104
|
|
Diluted
|
416,199,358
|
|
408,699,104
|
408,699,104
|
|
|
|
|
|
|
* American Depositary
Shares, which are traded on the NYSE. Each ADS represents ten Class
A ordinary shares of the Company.
|
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.
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
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content:http://www.prnewswire.com/news-releases/500com-limited-files-6-k-to-report-income-statement-for-six-months-ended-june-30-2017-300497440.html
SOURCE 500.com Limited