UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington D.C. 20549
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| FORM 6-K |
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
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For the month of March 2015
Commission File Number: 001-36442
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| JUMEI INTERNATIONAL HOLDING LIMITED |
|
20th Floor, Tower B, Zhonghui Plaza
11 Dongzhimen South Road, Dongcheng District
Beijing 100007
The People’s Republic of China
Tel: +86 10-5676-6999
|
|
(Address of principal executive offices)
|
Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
| |
JUMEI INTERNATIONAL HOLDING LIMITED |
| |
|
| |
|
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By: |
/s/ Mona Meng Gao |
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Name: Mona Meng Gao
Title: Co-Chief Financial Officer |
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Date: March 17, 2015
EXHIBIT INDEX
Exhibit 99.1 – Press Release
Exhibit 99.1
Jumei
Reports Unaudited Fourth Quarter and Full Year 2014 Financial Results
BEIJING, March 16, 2015 /PRNewswire/ -- Jumei International
Holding Limited (NYSE: JMEI) (“Jumei” or the “Company”), China’s leading online retailer of beauty products,
today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2014. The Company will
host a conference call to discuss the results at 8:30 AM U.S. Eastern Daylight Time on March 17, 2015 (8:30 PM China time on the
same day).
Fourth Quarter 2014 Highlights
| · | Total net GMV[1] decreased by 3.0% year-over-year to US$235.2
million, primarily due to a decrease in total orders[2], partially offset by an increase in the number of active customers[3].
|
| · | Net revenues increased by 18.5% year-over-year to US$166.0 million.
|
| · | The number of active customers increased by 2.1% year-over-year to
4.8 million. |
| · | The number of total orders decreased by 5.9% from the same period
last year to 9.6 million. |
| · | Gross profit as a percentage of net revenues decreased to 30.4% from
42.6% in the same period of 2013. Gross profit as a percentage of total net GMV decreased to 21.4%
from 24.6% in the same period of 2013. The decreases were primarily due to the Company’s
shift in strategy from beauty product marketplace sales to merchandise sales that started in September 2014. |
| · | Net income attributable to Jumei’s ordinary shareholders increased
to US$10.7 million from a net loss attributable to Jumei’s ordinary shareholder of US$15.5 million in the same period of
2013. Net margin attributable to Jumei’s ordinary shareholders was 6.4%, compared with negative 11.0% in the same period
of 2013. |
| · | Non-GAAP net income attributable to Jumei’s ordinary shareholders[4]
was US$11.7 million, a decrease of 25.5% from the same period of 2013. Non-GAAP net margin attributable to Jumei’s ordinary
shareholders[5] was 7.0%, compared with 11.2% in the same period of 2013. |
Full Year 2014 Highlights
| · | Total net GMV increased by 30.9% year-over-year to US$1.07 billion,
primarily due to the increases in the number of active customers and total orders. |
| · | Net revenues increased by 31.0% year-over-year to US$632.9 million.
|
| · | The number of active customers increased by 26.7% year-over-year to
13.3 million. |
| · | Total orders increased by 18.3% year-over-year to 42.6 million. |
| · | Gross profit as a percentage of net revenues decreased to 39.5% from
41.3% in 2013. Gross profit as a percentage of total net GMV decreased to 23.4% from 24.5% in 2013. The decreases were primarily
due to the Company’s shift in strategy from beauty product marketplace sales to merchandise sales that started in September
2014. |
| · | Net income attributable to Jumei’s ordinary shareholders was
US$56.0 million, compared with US$15.8 million in 2013. Net margin attributable to Jumei’s ordinary shareholders was 8.8%,
compared with 3.3% in 2013. |
| · | Non-GAAP net income[6] was US$72.3 million, compared with
US$57.8 million in 2013. Non-GAAP net income attributable to Jumei’s ordinary shareholders was US$62.4 million, compared
with US$48.6 million in 2013. Non-GAAP net margin attributable to Jumei’s ordinary shareholders was 9.9%, compared with 10.1%
in 2013. |
| [1] | “Net
GMV” means the sum of (i) net revenues generated from merchandise sales, and (ii) net revenues generated from marketplace
services plus corresponding payables to third-party merchants; |
| [2] | “Total
orders” means the total number of orders placed during a period, excluding rejected or returned orders; |
| [3] | “Active
customer” means a customer that made at least one purchase during a specified period; |
| [4] | “Non-GAAP
net income attributable to Jumei’s ordinary shareholders” is a non-GAAP financial measure defined as net income attributable
to Jumei’s ordinary shareholders excluding share-based compensation expenses. See “Use of Non-GAAP Financial Measures”
and “Unaudited Reconciliation of GAAP and Non-GAAP Results”. |
| [5] | “Non-GAAP
net margin attributable to Jumei’s ordinary shareholders” is a non-GAAP financial measure defined as Non-GAAP net
income attributable to Jumei’s ordinary shareholders divided by net revenues. See “Use of Non-GAAP Financial Measures”. |
| [6] | “Non-GAAP
net income” is a non-GAAP financial measure defined as net income excluding share-based compensation expenses. See “Use
of Non-GAAP Financial Measures”. |
Mr. Leo Chen, founder and CEO of Jumei, stated, “We are
pleased to report a solid recovery of our business as we record our eleventh consecutive quarter of profitability on a non-GAAP
basis. While fourth quarter 2014 was a full transitional quarter during which we no longer had beauty product marketplace business,
we are very encouraged by the strong first quarter 2015 outlook that we are able to share with you today. The particularly strong
sequential and year-on-year net revenue guidance indicates a strong recovery driven by Jumei Global which witnessed rapid growth
from late December 2014. Not only were we able to fully replace former beauty product marketplace SKUs with Jumei Global, we were
also able to achieve what we believe is best-in-class quality control and customer satisfaction. Jumei passed every test with a
100% authenticity rating during multiple e-commerce product sampling tests performed by State Administration for Industry and Commerce
in 2014. In a report published on March 13, 2015 by the China e-Business Research Center, a well-known independent e-commerce research
firm, Jumei was among the two e-commerce companies out of 20 that achieved five star status and the highest levels of customer
satisfaction in 2014. The report was based on a large sample size of approximately 100,000 customer feedback. By offering direct
purchase from brand, competitive pricing and fast delivery speed, Jumei Global is currently the largest cross border ecommerce
platform in China and a crucial part of Jumei’s growth strategy in 2015. “
Unaudited Fourth Quarter 2014 Financial Results
Total net revenues were US$166.0 million, an increase
of 18.5% from US$140.1 million in the fourth quarter of 2013. The increase was primarily attributable to the increase in the number
of active customers and the shift from beauty product marketplace sales to merchandise sales.
Gross profit was US$50.4 million, a decrease of 15.4%
from US$59.6 million in the fourth quarter of 2013. Gross profit as a percentage of net revenues decreased to 30.4% from 42.6%
in the same period of 2013. Gross profit from merchandise sales as a percentage of net GMV of merchandise sales decreased to 25.3%
from 31.9% in the same period of 2013, and gross profit as a percentage of net GMV decreased to 21.4%
from 24.6% in the same period of 2013. The decrease was primarily due to the shift from beauty product marketplace sales
to merchandise sales.
Total operating expenses were US$46.4 million, a decrease
of 34.6% from US$70.9 million in the fourth quarter of 2013. Operating expenses as a percentage of total net GMV decreased to 19.7%
from 29.3% in the same period of 2013. The decrease was mainly due to a one-time share-based
compensation expense of US$30.2 million incurred in the fourth quarter of 2013, but none in the fourth quarter of 2014.
| · | Fulfillment expenses were US$14.8 million, a decrease
of 15.9% from US$17.6 million in the same period of 2013. Fulfillment expenses as a percentage of total net GMV decreased to 6.3%
from 7.3% in the same period of 2013. The decline was primarily due to a percentage decrease of fulfilled orders over total orders.
|
| · | Marketing expenses were US$19.9 million, an increase
of 20.8% from US$16.5 million in the same period of 2013. Marketing expenses as a percentage of total net GMV increased to 8.5%
from 6.8% in the same period of 2013. The increase was primarily a result of the higher number
of marketing campaigns and brand promotion activities that Jumei launched during the quarter, and reflects the Company’s efforts
to grow its customer base and further promotion |
| · | Technology and content expenses were US$7.1 million,
an increase of 115.3% from US$3.3 million in the same period of 2013. Technology and content expenses as a percentage of total
net GMV increased to 3.0% from 1.4% in the same period of 2013. The significant increase reflects Jumei’s continuous investments
in its information technology platform and the Company’s commitment to attract top research and development talent in order
to provide better technology-enabled services to both consumers and merchants. |
| · | General and administrative expenses were US$4.6 million,
a decrease of 86.3% from US$33.5 million in the same period of 2013. General and administrative expenses as a percentage
of total net GMV decreased to 1.9% from 13.8% in the same period of 2013. The significant decrease was mainly due to a decrease
in related share-based compensation expenses, which declined to US$0.6 million in the fourth quarter 2014 from US$30.5 million
in the same period in 2013. The fourth quarter of 2013 included a one-time share-based compensation expense of US$30.2 million.
|
Income from operations was US$4.0 million, a significant
increase from a loss from operations of US$11.3 million in the same period of 2013.
Non-GAAP income from operations, which excludes US$1.0
million in share-based compensation expenses, was US$5.0 million, a decrease of 74.8% from US$19.8 million in the same period of
2013.
Net income attributable to Jumei’s ordinary shareholders
was US$10.7 million, which compares with a net loss attributable to Jumei’s ordinary shareholders of US$15.5 million in the
same period of 2013, primarily due to the one-time share-based compensation expense of US$30.2 million in 2013, and the conversion
of the Company’s preferred shares into ordinary shares at the completion of our initial public offering in May 2014. Net margin
attributable to Jumei’s ordinary shareholders increased to 6.4% from negative 11.0% in the same period of 2013. Net income
per basic and diluted ADS attributable to Jumei’s ordinary shareholders were both US$0.07, compared with net loss per basic
and diluted ADS attributable to Jumei’s ordinary shareholders of both US$0.24 for the same period of 2013.
Non-GAAP net income attributable to Jumei’s ordinary
shareholders, which excludes share-based compensation expenses, was US$11.7 million, a decrease of 25.5% from US$15.7 million
in the same period of 2013. Non-GAAP net margin attributable to Jumei’s ordinary shareholders decreased to 7.0% from 11.2%
in the same period of 2013. Non-GAAP net income per basic and diluted ADS attributable to Jumei’s ordinary shareholders were
both US$0.08, compared with both US$0.25 in the same period of 2013.
Full Year 2014 Financial Results
Net GMV increased by 30.9% year-over-year to US$1.07 billion,
primarily due to a 26.7% increase in the number of active customers and an 18.3% increase in total orders.
Net revenues increased by 31.0% year-over-year to US$632.9 million,
primarily driven by the increases in active customers and total orders.
The number of active customers
was 13.3 million, an increase of 26.7% from 10.5 million
in 2013.
The number of total orders was 42.6 million, an increase of
18.3% from 36.0 million in 2013.
Gross profit increased by 25.3% to US$250.2 million from US$199.7
million in 2013. Gross margin decreased slightly to 39.5% from 41.3% in the prior year.
Income from operations increased to US$59.4 million from US$38.3
million in the prior year. Operating margin was 9.4% compared with 7.9% in the prior year.
Non-GAAP income from operations was US$65.7 million, compared
with US$71.1 million in the prior year. Non-GAAP operating margin was 10.4%, compared with 14.7% in the prior year.
Net income attributable to Jumei’s ordinary shareholders
was US$56.0 million, compared with US$15.8 million in the prior year. Net margin attributable to Jumei’s ordinary shareholders
was 8.8%, compared with 3.3% in the prior year.
Net income per basic and diluted ADS attributable to Jumei’s
ordinary shareholders were US$0.49 and US$0.45, compared with US$0.27 and US$0.19 in the prior year.
Non-GAAP net income was US$72.3 million, compared with US$57.8
million in the prior year. Non-GAAP net income attributable to Jumei’s ordinary shareholders was US$62.4 million, compared
with US$48.6 million in the prior year. Non-GAAP net margin attributable to Jumei’s ordinary shareholders was 9.9%, compared
with 10.1% in the prior year.
Non-GAAP net income per basic and diluted ADS attributable to
Jumei’s ordinary shareholders were US$0.54 and US$0.50, compared with US$0.82 and US$0.58 in the prior year.
Balance Sheet
As of December 31, 2014, the Company had cash and cash equivalents
of US$165.4 million, and short-term investments of US$412.6 million.
Business Outlook
For the first quarter of 2015, the Company expects total net
revenues to be between US$224.5 million and US$232.3 million, representing a year-over-year growth rate of approximately 45% to
50%.
These forecasts reflect the Company’s current and preliminary
view, which is subject to change.
Conference Call
Jumei’s management will host a conference call on Tuesday, March
17, 2015 at 8:30 a.m. U.S. Eastern Daylight Time (8:30 p.m. Beijing/Hong Kong Time on the same day) to discuss the financial results.
The dial-in details for the earnings conference call are as
follows:
| Hong Kong: |
800-908-575 (Toll Free) |
| |
3056-2688 (Toll/Mobile) |
| |
|
| China: |
800-803-6152 (Toll Free) |
| |
400-603-9021 (Toll/Mobile) |
| |
|
| USA: |
1-877-679-2987 (Toll Free) |
| |
646-502-5131 (Toll/Mobile) |
| |
|
| UK: |
0800-376-2927 (Toll Free) |
| |
020-7660-2114 (Toll/Mobile) |
| |
|
| Participant PIN Code: |
887327# |
Please dial in 10 minutes before the call is scheduled to begin
and provide the passcode to join the call.
A telephone replay of the call will be available after the conclusion
of the conference call through 12:00 a.m. U.S. Eastern Standard Time, April 14, 2015. The dial-in details for the replay are as
follows:
| Hong Kong and International: |
852-3060-0238 |
| USA: |
1-866-345-5132 |
| Passcode: |
214732# |
A live and archived webcast of the conference call will be
available on the Investor Relations section of Jumei’s website at http://jumei.investorroom.com/.
Use of Non-GAAP Financial Measures
To
supplement the consolidated financial statements presented in accordance with the United States Generally Accepted Accounting Principles
(“GAAP”), Jumei uses non-GAAP income from operations, non-GAAP net income, non-GAAP net income attributable to Jumei’s
ordinary shareholders, non-GAAP operating margin, non-GAAP net margin attributable to Jumei’s ordinary shareholders, and
non-GAAP net income per ADS attributable to Jumei’s ordinary
shareholders, by excluding share-based compensation expenses from operating profit, net income and net income attributable to the
Company’s shareholders, respectively. The Company believes these non-GAAP financial measures are important to help investors understand
Jumei’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and
assess Jumei’s core operating results, as they exclude certain expenses that are not expected to result in cash payments. The use
of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue
to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered
in the overall evaluation of Jumei’s results. The Company compensates for these limitations by providing the relevant disclosure
of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which
should be considered when evaluating Jumei’s performance. These non-GAAP financial measures should be considered in addition to
financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures
prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP
financial measure is set forth at the end of this release.
About Jumei International Holding Limited
Jumei (NYSE: JMEI) is China’s No. 1 online retailer of beauty
products as measured by gross merchandise volume, with a market share of 22.1% in 2013, according to a commissioned research report
by Frost & Sullivan. Jumei’s internet platform is a trusted destination for consumers to discover and purchase branded beauty
products, fashionable apparel and other lifestyle products through the Company’s jumei.com website and mobile application.
Leveraging its deep understanding of customer needs and preferences, as well as its strong merchandizing capabilities, Jumei has
adopted multiple effective sales formats to encourage product purchases on its platform, including curated sales, online shopping
mall and flash sales.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of 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” and similar statements.
Among other things, the business outlook and quotations from management in this announcement, as well as Jumei’s strategic and
operational plans, contain forward-looking statements. Jumei may also make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders,
in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about Jumei’s beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially
from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies;
the Company’s future business development, results of operations and financial condition; the expected growth of the Company’s
curated sales, online shopping mall and flash sales in China; the expected growth of Jumei Global, the Company’s ability to attract
and retain new customers and to increase revenues generated from repeat customers; its ability to obtain the authorization of more
exclusive products; its expectations regarding demand for and market acceptance of its products and services; trends and competition
in China’s online retailers of beauty products; fluctuations in general economic and business conditions in China and assumptions
underlying or related to any of the foregoing. Further information regarding these and other risks is included in Jumei’s filings
with the SEC, including its registration statement on Form F-1, as amended. All information provided in this press release and
in the attachments is as of the date of this press release, and Jumei does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please contact:
Jumei International Holding Limited
Mr. Sterling Song
Investor Relations Director
Phone: +86-10-5676-6983
kans@jumei.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
JUMEI INTERNATIONAL HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands, except share
data and per share data)
| | |
December 31, 2013 | | |
December 31, 2014 | |
| | |
US$ | | |
US$ | |
| | |
| | |
| |
| ASSETS | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
| 111,402 | | |
| 165,407 | |
| Short-term investments | |
| 4,100 | | |
| 412,555 | |
| Loan receivables | |
| - | | |
| 2,533 | |
| Accounts receivable, net | |
| 2,807 | | |
| 4,403 | |
| Inventories | |
| 32,653 | | |
| 101,613 | |
| Advances to suppliers | |
| 22,343 | | |
| 8,759 | |
| Prepayments and other current assets | |
| 9,289 | | |
| 32,852 | |
| Deferred tax assets | |
| 292 | | |
| 424 | |
| Total current assets | |
| 182,886 | | |
| 728,546 | |
| Non-current assets: | |
| | | |
| | |
| Property, equipment and software, net | |
| 5,394 | | |
| 8,289 | |
| Intangible assets, net | |
| 36 | | |
| 18 | |
| Goodwill | |
| 2,320 | | |
| 2,320 | |
| Deferred tax assets | |
| 2,706 | | |
| 1,497 | |
| Other non-current assets | |
| 1,969 | | |
| 2,645 | |
| Total non-current assets | |
| 12,425 | | |
| 14,769 | |
| Total assets | |
| 195,311 | | |
| 743,315 | |
| | |
| | | |
| | |
| Current liabilities | |
| | | |
| | |
| Accounts payable | |
| 88,766 | | |
| 145,442 | |
| Amount due to related parties | |
| 280 | | |
| - | |
| Advances from customers | |
| 4,506 | | |
| 11,070 | |
| Short-term loan | |
| - | | |
| 1,611 | |
| Tax payable | |
| 16,264 | | |
| 13,661 | |
| Accrued expenses and other current liabilities | |
| 9,835 | | |
| 20,169 | |
| Total current liabilities | |
| 119,651 | | |
| 191,953 | |
| Non-current liabilities | |
| | | |
| | |
| Other non-current liabilities | |
| - | | |
| 843 | |
| Total non-current liabilities | |
| - | | |
| 843 | |
| Total liabilities | |
| 119,651 | | |
| 192,796 | |
| Mezzanine Equity | |
| | | |
| | |
| Series A-1 Redeemable Preferred Shares | |
| 647 | | |
| - | |
| Series A-2 Redeemable Preferred Shares | |
| 8,854 | | |
| - | |
| Series B Redeemable Preferred Shares | |
| 7,683 | | |
| - | |
| Total mezzanine equity | |
| 17,184 | | |
| - | |
| | |
| | | |
| | |
| Shareholders’ equity: | |
| | | |
| | |
| Ordinary shares | |
| 20 | | |
| 36 | |
| Additional paid-in capital | |
| 32,652 | | |
| 459,108 | |
| Statutory reserves | |
| 449 | | |
| 451 | |
| Retained earnings | |
| 24,238 | | |
| 89,404 | |
| Accumulated other comprehensive income | |
| 1,117 | | |
| 1,260 | |
| Jumei’s shareholders’ equity | |
| 58,476 | | |
| 550,259 | |
| Noncontrolling interests | |
| - | | |
| 260 | |
| Total shareholders’ equity | |
| 58,476 | | |
| 550,519 | |
| Total liabilities, mezzanine equity and shareholders’ equity | |
| 195,311 | | |
| 743,315 | |
| | |
| | | |
| | |
JUMEI INTERNATIONAL HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME/ (LOSS)
(U.S. dollars in thousands, except share
data and per share data)
| | |
For the three
months ended | | |
For the twelve
months ended | |
| | |
December 31,
2013 | | |
September 30,
2014 | | |
December 31,
2014 | | |
December 31,
2013 | | |
December 31,
2014 | |
| | |
US$ | | |
US$ | | |
US$ | | |
US$ | | |
US$ | |
| Net revenues: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Merchandise sales | |
| 118,220 | | |
| 138,559 | | |
| 154,676 | | |
| 413,050 | | |
| 546,384 | |
| Marketplace services | |
| 21,848 | | |
| 19,187 | | |
| 11,279 | | |
| 69,946 | | |
| 86,535 | |
| Total net revenues | |
| 140,068 | | |
| 157,746 | | |
| 165,955 | | |
| 482,996 | | |
| 632,919 | |
| Cost of revenues | |
| (80,463 | ) | |
| (97,824 | ) | |
| (115,535 | ) | |
| (283,317 | ) | |
| (382,719 | ) |
| Gross profit | |
| 59,605 | | |
| 59,922 | | |
| 50,420 | | |
| 199,679 | | |
| 250,200 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Fulfillment expenses | |
| (17,615 | ) | |
| (16,556 | ) | |
| (14,809 | ) | |
| (59,228 | ) | |
| (70,775 | ) |
| Marketing expenses | |
| (16,493 | ) | |
| (15,990 | ) | |
| (19,922 | ) | |
| (52,151 | ) | |
| (81,277 | ) |
| Technology and content expenses | |
| (3,302 | ) | |
| (6,043 | ) | |
| (7,110 | ) | |
| (10,023 | ) | |
| (22,090 | ) |
| General and administrative expenses | |
| (33,525 | ) | |
| (4,149 | ) | |
| (4,578 | ) | |
| (40,013 | ) | |
| (16,690 | ) |
| Total operating expenses | |
| (70,935 | ) | |
| (42,738 | ) | |
| (46,419 | ) | |
| (161,415 | ) | |
| (190,832 | ) |
| Income/(loss) from operations | |
| (11,330 | ) | |
| 17,184 | | |
| 4,001 | | |
| 38,264 | | |
| 59,368 | |
| Other income/(expenses): | |
| | | |
| | | |
| | | |
| | | |
| | |
| Interest income | |
| 254 | | |
| 5,320 | | |
| 4,971 | | |
| 916 | | |
| 13,381 | |
| Others, net | |
| (17 | ) | |
| 1,866 | | |
| 3,137 | | |
| 127 | | |
| 9,184 | |
| Income/(loss) before tax | |
| (11,093 | ) | |
| 24,370 | | |
| 12,109 | | |
| 39,307 | | |
| 81,933 | |
| Income tax expenses | |
| (3,909 | ) | |
| (4,874 | ) | |
| (1,374 | ) | |
| (14,303 | ) | |
| (15,973 | ) |
| Net income/(loss) | |
| (15,002 | ) | |
| 19,496 | | |
| 10,735 | | |
| 25,004 | | |
| 65,960 | |
| Net income attributable to noncontrolling interests | |
| - | | |
| - | | |
| (36 | ) | |
| - | | |
| (36 | ) |
| Net income/(loss) attributable to Jumei International Holding Limited | |
| (15,002 | ) | |
| 19,496 | | |
| 10,699 | | |
| 25,004 | | |
| 65,924 | |
| Accretion to preferred share redemption value | |
| (448 | ) | |
| - | | |
| - | | |
| (1,795 | ) | |
| (755 | ) |
| Income allocation to participating Redeemable Preferred Shares | |
| - | | |
| - | | |
| - | | |
| (7,403 | ) | |
| (9,127 | ) |
| Net income/(loss) attributable to Jumei’s ordinary shareholders | |
| (15,450 | ) | |
| 19,496 | | |
| 10,699 | | |
| 15,806 | | |
| 56,042 | |
| Net income/(loss) | |
| (15,002 | ) | |
| 19,496 | | |
| 10,735 | | |
| 25,004 | | |
| 65,960 | |
| Foreign currency translation adjustment, net of nil tax | |
| 292 | | |
| 122 | | |
| 750 | | |
| 1,101 | | |
| 143 | |
| Total comprehensive income/(loss) | |
| (14,710 | ) | |
| 19,618 | | |
| 11,485 | | |
| 26,105 | | |
| 66,103 | |
| Comprehensive income attributable to noncontrolling interests | |
| - | | |
| - | | |
| (35 | ) | |
| - | | |
| (35 | ) |
| Comprehensive income/(loss) attributable to Jumei International Holding Limited | |
| (14,710 | ) | |
| 19,618 | | |
| 11,450 | | |
| 26,105 | | |
| 66,068 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income per share attributable to Jumei’s ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
- Diluted |
|
|
(0.24)
(0.24) |
|
|
|
0.13
0.13 |
|
|
|
0.07
0.07 |
|
|
|
0.27
0.19 |
|
|
|
0.49
0.45 |
|
| Net income per ADS attributable to Jumei’s ordinary shareholders (1 ordinary share equals to 1 ADS) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
- Diluted |
|
|
(0.24)
(0.24) |
|
|
|
0.13
0.13 |
|
|
|
0.07
0.07 |
|
|
|
0.27
0.19 |
|
|
|
0.49
0.45 |
|
| Weighted average shares outstanding used in computing net income per share attributable to Jumei’s ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - Basic |
|
|
63,987,598 |
|
|
|
144,712,235 |
|
|
|
144,781,590 |
|
|
|
59,475,739 |
|
|
|
115,090,686 |
|
| - Diluted |
|
|
63,987,598 |
|
|
|
150,594,342 |
|
|
|
150,120,447 |
|
|
|
83,196,788 |
|
|
|
125,217,054 |
|
| | |
For the three months ended | | |
For the twelve months ended | |
| | |
December 31,
2013 | | |
September 30,
2014 | | |
December 31,
2014 | | |
December 31,
2013 | | |
December 31,
2014 | |
| | |
US$ | | |
US$ | | |
US$ | | |
US$ | | |
US$ | |
| | |
| | |
| | |
| | |
| | |
| |
| Share-based compensation expenses included are follows: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Fulfillment expenses | |
| 231 | | |
| 243 | | |
| 243 | | |
| 382 | | |
| 955 | |
| Marketing expenses | |
| 184 | | |
| 278 | | |
| (172 | ) | |
| 481 | | |
| 1,629 | |
| Technology and content expenses | |
| 269 | | |
| 369 | | |
| 329 | | |
| 785 | | |
| 1,358 | |
| General and administrative expenses | |
| 30,474 | | |
| 618 | | |
| 599 | | |
| 31,144 | | |
| 2,423 | |
| Total | |
| 31,158 | | |
| 1,508 | | |
| 999 | | |
| 32,792 | | |
| 6,365 | |
JUMEI INTERNATIONAL HOLDING LIMITED
UNAUDITED RECONCILIATION OF GAAP AND
NON-GAAP RESULTS
(U.S. dollars in thousands, except share
data and per share data)
| | |
For the three months ended | | |
For the twelve months ended | |
| | |
December 31, 2013 | | |
September 30, 2014 | | |
December 31, 2014 | | |
December 31, 2013 | | |
December 31, 2014 | |
| | |
US$ | | |
US$ | | |
US$ | | |
US$ | | |
US$ | |
| | |
| | |
| | |
| | |
| | |
| |
| Income/(loss) from operations | |
| (11,330 | ) | |
| 17,184 | | |
| 4,001 | | |
| 38,264 | | |
| 59,368 | |
| Share-based compensation expenses | |
| 31,158 | | |
| 1,508 | | |
| 999 | | |
| 32,792 | | |
| 6,365 | |
| Non-GAAP income from operations | |
| 19,828 | | |
| 18,692 | | |
| 5,000 | | |
| 71,056 | | |
| 65,733 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income/(loss) attributable to Jumei’s ordinary shareholders | |
| (15,450 | ) | |
| 19,496 | | |
| 10,699 | | |
| 15,806 | | |
| 56,042 | |
| Share-based compensation expenses | |
| 31,158 | | |
| 1,508 | | |
| 999 | | |
| 32,792 | | |
| 6,365 | |
| Non-GAAP net income attributable to Jumei’s ordinary shareholders | |
| 15,708 | | |
| 21,004 | | |
| 11,698 | | |
| 48,598 | | |
| 62,407 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP net income per share attributable to Jumei’s ordinary shareholders | |
| | | |
| | | |
| | | |
| | | |
| | |
| - Basic | |
| 0.25 | | |
| 0.15 | | |
| 0.08 | | |
| 0.82 | | |
| 0.54 | |
| - Diluted | |
| 0.25 | | |
| 0.14 | | |
| 0.08 | | |
| 0.58 | | |
| 0.50 | |
| Non-GAAP net income per ADS attributable to Jumei’s ordinary shareholders (1 ordinary share equals to 1 ADS) | |
| | | |
| | | |
| | | |
| | | |
| | |
| - Basic | |
| 0.25 | | |
| 0.15 | | |
| 0.08 | | |
| 0.82 | | |
| 0.54 | |
| - Diluted | |
| 0.25 | | |
| 0.14 | | |
| 0.08 | | |
| 0.58 | | |
| 0.50 | |
| Non-GAAP weighted average shares outstanding used in computing net income per share attributable to Jumei’s ordinary shareholders: | |
| | | |
| | | |
| | | |
| | | |
| | |
| - Basic | |
| 63,987,598 | | |
| 144,712,235 | | |
| 144,781,590 | | |
| 59,475,739 | | |
| 115,090,686 | |
| - Diluted | |
| 63,987,598 | | |
| 150,594,342 | | |
| 150,120,447 | | |
| 83,196,788 | | |
| 125,217,054 | |
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