SHENZHEN, China, Nov. 14, 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 third
quarter ended September 30, 2017.
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
revenue from sports lottery sales in the third quarter of 2017.
Investment in The Multi Group Ltd
On July 17, 2017, the Company
purchased 93.0% of the equity interest of The Multi Group Ltd ("The
Multi Group") through 500.com limited for a total consideration of
approximately EUR49.8 million and
consolidated it in the third quarter of 2017. The Multi Group
engages in operating Multilotto.com ("Multilotto") which is
considered one of the top online lottery betting and online casino
platforms in the Nordic countries where it holds substantial market
share. Operating under a Curacao
e-Gaming license, Multilotto has a strong and balanced customer
portfolio that has created a solid foundation for its expansion
across Europe. The Multi Group was
also granted remote gambling licenses from Malta, remote operating licenses from the UK
and a remote bookmaker's license from Ireland, which will further strengthen its
market position and ability to rapidly expand into new geographic
regions.
Third Quarter 2017 Highlights
- Net revenues were RMB43.2 million
(US$6.5 million), compared with
RMB19.3 million for the second
quarter of 2017, and nil for the third quarter of 2016.
- Operating loss was RMB74.4
million (US$11.2 million),
compared with operating loss of RMB69.5
million for the second quarter of 2017, and operating loss
of RMB81.6 million for the third
quarter of 2016.
- Non-GAAP1 operating loss was RMB61.0 million (US$9.2
million), compared with non-GAAP operating loss of
RMB43.7 million for the second
quarter of 2017, and non-GAAP operating loss of RMB48.3 million for the third quarter of
2016.
- Net loss attributable to 500.com was RMB72.2 million (US$10.9
million), compared with net loss attributable to 500.com of
RMB52.6 million for the second
quarter of 2017, and net loss attributable to 500.com of
RMB75.3 million for the third quarter
of 2016.
- Non-GAAP net loss attributable to 500.com was RMB58.8 million (US$8.8
million), compared with non-GAAP net loss attributable to
500.com of RMB26.8 million for the
second quarter of 2017, and non-GAAP net loss attributable to
500.com of RMB41.9 million for the
third quarter of 2016.
- Basic and diluted losses per ADS were RMB1.77 and RMB1.77, respectively.
- Non-GAAP basic and diluted losses per ADS were RMB1.44 and RMB1.44, respectively.
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 results for the
third quarter of 2017. 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 that 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."
"As part of our efforts to expand the scope of our business and
diversify our revenue streams, we launched a sports information and
mobile gaming business during the fourth quarter of 2016, which has
generated steady revenue growth. We also acquired approximately
40.65% of the issued share capital of Loto Interactive Limited
(formerly known as "Melcolot Limited") in the second quarter of
2017 and 93.0% of the equity shares of The Multi Group Ltd in the
third quarter of 2017. We believe that these new businesses and
strategic acquisitions will create strong synergies with our
existing operation platform."
Third Quarter 2017 Financial
Results
Net Revenues
Net revenues were RMB43.2 million
(US$6.5 million), representing a
significant increase from nil for the third quarter of 2016 and a
significant increase of 123.8% from RMB19.3
million for the second quarter of 2017. Net revenues
generated from mobile gaming and sports information services were
RMB20.7 million, accounting for 47.9%
of net revenues during the third quarter of 2017. Net revenues
generated from online lottery betting and online casino platforms
in the Nordic countries through The Multi Group from July 17 to November 30, 2017 were RMB22.5 million (EUR3.0
million), accounting for 52.1% of net revenues during the
third quarter of 2017.
Operating Expenses
Operating expenses were RMB117.5
million (US$17.7 million),
representing a 42.6% increase from RMB82.4
million during the third quarter of 2016, and a 31.0%
increase from RMB89.7 million during
the second quarter of 2017. The year-over-year increase was mainly
due to the consolidation of The Multi Group's operating expenses of
RMB20.7 million (EUR2.7
million) from July 17 to September
30, 2017, Qufan's operating expenses of RMB6.5 million for the third quarter of 2017,
increases in depreciation and amortization associated with acquired
intangible assets of RMB9.5 million,
consulting expenses of RMB8.9 million
associated with the acquisitions, salary expenses of RMB5.0 million and marketing expenses of
RMB3.5 million relating to our mobile
gaming business and sports information services, which were
partially offset by a decrease in share-based compensation expenses
associated with share options granted to the Company's employees of
RMB19.9 million. The sequential
increase was mainly due to the consolidation of The Multi Group's
operating expenses of RMB20.7
million (EUR2.7 million) from July
17 to September 30, 2017, increases in consulting expenses
of RMB14.6 million associated with
the acquisitions and depreciation and amortization associated with
acquired intangible assets of RMB6.2
million, which were partially offset by a decrease in
share-based compensation expenses associated with share
options granted to the Company's employees of RMB12.4 million.
Cost of services was RMB19.9
million (US$3.0 million),
representing a 610.7% increase from RMB2.8
million during the third quarter of 2016, and a 249.1%
increase from RMB5.7 million during
the second quarter of 2017. The year-over-year increase was mainly
attributable to increases in amortization associated with acquired
intangible assets of RMB9.5 million,
insurance costs associated with online lottery betting from newly
acquired business of RMB3.3 million,
platform service fees of RMB2.6
million and account handling expenses related to the
Company's mobile distribution channels of RMB1.5 million. The sequential increase was
mainly attributable to increases in amortization associated with
acquired intangible assets of RMB6.2
million, insurance costs associated with online lottery
betting from newly acquired business of RMB3.3 million, platform service fees of
RMB2.2 million and account handling
expenses related to the Company's mobile distribution channels of
RMB1.2 million.
Sales and marketing expenses were RMB21.3
million (US$3.2 million),
representing a 166.3% increase from RMB8.0
million during the third quarter of 2016, and a 41.1%
increase from RMB15.1 million during
the second quarter of 2017. The year-over-year increase was mainly
attributable to increases in marketing and promotional expenses
relating to mobile gaming, sports information services and online
lottery betting of RMB12.9 million
and salary expenses of RMB1.4
million, which were partially offset by a decrease in
share-based compensation expenses associated with share options
granted to the Company's employees of RMB1.1
million. The sequential increase was mainly attributable to
an increase in marketing and promotional expenses relating to
online lottery betting of RMB6.8
million, which was partially offset by a decrease in
share-based compensation expenses associated with share options
granted to the Company's employees of RMB0.6
million.
General and administrative expenses were RMB60.9 million (US$9.2
million), representing a 7.4% increase from RMB56.7 million during the third quarter of 2016,
and a 14.3% increase from RMB53.3
million during the second quarter of 2017. The
year-over-year increase was mainly attributable to increases in
consulting expenses of RMB10.2
million associated with the acquisitions including the
consolidation of The Multi Group of RMB1.3
million (EUR0.2 million),
salary expenses of RMB6.3 million for
those acquisitions and rental expenses of RMB3.3 million for the Company's new office,
which were partially offset by a decrease in share-based
compensation expenses associated with share options granted to the
Company's employees of RMB16.3
million. The sequential increase was mainly attributable to
increases in consulting expenses of RMB16.0
million associated with the acquisitions including the
consolidation of The Multi Group of RMB1.3
million (EUR0.2 million),
salary expenses of RMB4.2 million for
the new acquisition and conference expenses of RMB0.6 million, which were partially offset by a
decrease in share-based compensation expenses associated with share
options granted to the Company's employees of RMB11.5 million. In addition, a bad debt
provision of RMB2.3 million provided
for other receivables during the second quarter of 2017 was made,
while no such provision was recorded during the third quarter of
2017.
Service development expenses were RMB15.5
million (US$2.3 million),
representing a 3.3% increase from RMB15.0
million during the third quarter of 2016, and a 0.6%
decrease from RMB15.6 million during
the second quarter of 2017.
Operating Loss
Operating loss was RMB74.4 million
(US$11.2 million), compared with
operating loss of RMB81.6 million
during the third quarter of 2016, and operating loss of
RMB69.5 million during the second
quarter of 2017, respectively.
Non-GAAP operating loss was RMB61.0
million (US$9.2 million),
compared with non-GAAP operating loss of RMB48.3 million during the third quarter of 2016,
and non-GAAP operating loss of RMB43.7
million during the second quarter of 2017, respectively.
Net Loss Attributable to 500.com
Net loss attributable to 500.com was RMB72.2 million (US$10.9 million), compared with net loss
attributable to 500.com of RMB75.3
million during the third quarter of 2016, and net loss
attributable to 500.com of RMB52.6
million during the second quarter of 2017, respectively. The
sequential increase was mainly due to an increase in operating
expenses of RMB27.8 million and a
reversal of uncertain tax liabilities of RMB18.6 million during the second quarter of
2017, while there was no such uncertain tax liabilities reversal
during the third quarter of 2017. These increases were partially
offset by an increase in revenues of RMB23.9
million including revenues generated from online lottery
betting and online casino platforms of RMB22.5 million (EUR3.0
million) during the third quarter of 2017.
Non-GAAP net loss attributable to 500.com was RMB58.8 million (US$8.8
million), compared with non-GAAP net loss attributable to
500.com of RMB41.9 million during the
third quarter of 2016, and non-GAAP net loss attributable to
500.com of RMB26.8 million during the
second quarter of 2017, respectively.
Cash and Cash Equivalents, Restricted Cash, Time
Deposits and Short-term Investments
As of September 30, 2017, the
Company had cash and cash equivalents of RMB608.8 million (US$91.5
million), restricted cash1 of RMB2.2 million (US$0.3
million) and short-term investments of RMB115.0 million (US$17.3
million), compared with cash and cash equivalents of
RMB606.1 million, restricted cash of
RMB439.0 million, and short-term
investments of RMB115.0 million as of
June 30, 2017.
Prepayments and Other Current Assets
As of September 30, 2017, the
balance of prepayment and other current assets was RMB69.5 million (US$10.4
million), compared with RMB45.8
million as of June 30, 2017.
The balance as of September 30, 2017
mainly included: (i) the current portion of deferred expenses of
RMB30.7 million (US$4.6 million); (ii) receivables of deposits of
RMB17.5 million (US$2.6 million); (iii) receivables from third
party payment service providers of RMB4.5
million (US$0.7 million); and
(iv) other receivables of RMB16.8
million (US$2.5 million).
1
Restricted cash represents government grants received but pending
for final clearance.
|
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
RMB6.6533 to US$1.00, as set forth in the H.10 statistical
release of the Federal Reserve Board on September 29, 2017 and all translations from
Renminbi to EUR were made at the exchange rate of RMB7.6148 to EUR1.00, as set forth in the statistical release
of State Administration of Foreign Exchange with the average
exchange rate at the end of each month from January 2017 to September
2017.
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,
2016
|
|
September 30,
2017
|
|
September 30,
2017
|
|
RMB
|
|
RMB
|
|
US$
|
|
Audited
|
|
Unaudited
|
|
Unaudited
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
673,102
|
|
608,756
|
|
91,497
|
Restricted
cash
|
3,704
|
|
2,234
|
|
336
|
Time
deposits
|
804,692
|
|
-
|
|
-
|
Short-term
investments
|
100,000
|
|
115,000
|
|
17,285
|
Prepayments and other
current assets
|
125,534
|
|
69,539
|
|
10,451
|
Total current
assets
|
1,707,032
|
|
795,529
|
|
119,569
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property and
equipment, net
|
53,935
|
|
92,226
|
|
13,862
|
Intangible assets,
net
|
61,547
|
|
300,493
|
|
45,165
|
Deposits
|
5,810
|
|
5,824
|
|
875
|
Long-term
investments
|
85,459
|
|
381,243
|
|
57,301
|
Other non-current
assets
|
2,671
|
|
5,576
|
|
838
|
Goodwill
|
160,438
|
|
262,710
|
|
39,486
|
Total non-current
assets
|
369,860
|
|
1,048,072
|
|
157,527
|
|
|
|
|
|
|
TOTAL
ASSETS
|
2,076,892
|
|
1,843,601
|
|
277,096
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accrued payroll
and welfare payable
|
16,270
|
|
4,449
|
|
669
|
Accrued
expenses and other current liabilities
|
184,155
|
|
132,432
|
|
19,905
|
Income tax
payable
|
9,050
|
|
3,142
|
|
472
|
Total current
liabilities
|
209,475
|
|
140,023
|
|
21,046
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Long-term
payables
|
44,472
|
|
27,859
|
|
4,187
|
Deferred tax
liabilities
|
14,902
|
|
20,353
|
|
3,059
|
Total non-current
liabilities
|
59,374
|
|
48,212
|
|
7,246
|
|
|
|
|
|
|
Total
liabilities
|
268,849
|
|
188,235
|
|
28,292
|
|
|
|
|
|
|
Redeemable noncontrolling
interest
|
-
|
|
22,389
|
|
3,365
|
|
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
|
|
Class A ordinary
shares, par value
US$0.00005 per share, 700,000,000
shares authorized as of December 31,
2016 and September 30, 2017;
335,494,792 and 333,651,882 shares
issued and outstanding as of December
31, 2016 and September 30, 2017,
respectively
|
115
|
|
115
|
|
17
|
Class B ordinary
shares, par value
US$0.00005 per share; 300,000,000
shares authorized as of December 31,
2016 and September 30, 2017;
74,400,299 and 74,400,299 shares
issued and outstanding as of December
31, 2016 and September 30, 2017,
respectively
|
28
|
|
28
|
|
4
|
Additional paid-in
capital
|
2,198,385
|
|
2,271,304
|
|
341,380
|
Treasury
shares
|
(123,258)
|
|
(143,780)
|
|
(21,610)
|
Accumulated
deficit
|
(538,328)
|
|
(725,504)
|
|
(109,044)
|
Accumulated other
comprehensive
income
|
172,589
|
|
126,610
|
|
19,030
|
Total 500.com
Limited shareholders'
equity
|
1,709,531
|
|
1,528,773
|
|
229,777
|
Noncontrolling
interests
|
98,512
|
|
104,204
|
|
15,662
|
Total
shareholders' equity
|
1,808,043
|
|
1,632,977
|
|
245,439
|
|
TOTAL LIABILITIES
AND
SHAREHOLDERS' EQUITY
|
2,076,892
|
|
1,843,601
|
|
277,096
|
500.com
Limited
Condensed Consolidated Statements of Comprehensive Income
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$"),
except for number of shares, per share (or ADS)
data)
|
|
|
|
September 30,
2016
|
|
June 30,
2017
|
|
September 30,
2017
|
|
September 30,
2017
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
Net
Revenues
|
-
|
|
19,315
|
|
43,175
|
|
6,489
|
|
|
|
|
|
|
|
|
Operating costs
and expenses:
|
|
|
|
|
|
|
|
Cost of services
|
(2,752)
|
|
(5,691)
|
|
(19,870)
|
|
(2,986)
|
Sales and marketing
|
(7,971)
|
|
(15,057)
|
|
(21,298)
|
|
(3,201)
|
General and administrative
|
(56,699)
|
|
(53,344)
|
|
(60,884)
|
|
(9,151)
|
Service development expenses
|
(14,995)
|
|
(15,565)
|
|
(15,490)
|
|
(2,328)
|
Total operating
expenses
|
(82,417)
|
|
(89,657)
|
|
(117,542)
|
|
(17,666)
|
Other operating
income
|
352
|
|
35
|
|
523
|
|
79
|
Government
grant
|
717
|
|
3,893
|
|
397
|
|
60
|
Other operating
expense
|
(297)
|
|
(3,093)
|
|
(969)
|
|
(146)
|
Operating
loss
|
(81,645)
|
|
(69,507)
|
|
(74,416)
|
|
(11,184)
|
Others,net
|
-
|
|
(4,751)
|
|
8
|
|
1
|
Interest
income
|
7,986
|
|
5,039
|
|
4,444
|
|
668
|
Loss from equity
method investments
|
(63)
|
|
(591)
|
|
(119)
|
|
(18)
|
Changes in fair value
of contingent considerations
|
-
|
|
(622)
|
|
(640)
|
|
(96)
|
Loss before income
tax
|
(73,722)
|
|
(70,432)
|
|
(70,723)
|
|
(10,629)
|
Income tax (expense)
benefit
|
(1,545)
|
|
20,706
|
|
(1,233)
|
|
(185)
|
Net
loss
|
(75,267)
|
|
(49,726)
|
|
(71,956)
|
|
(10,814)
|
Less: Net income attributable to the non-controlling
interests
|
-
|
|
2,899
|
|
276
|
|
41
|
Net loss
attributable to 500.com Limited
|
(75,267)
|
|
(52,625)
|
|
(72,232)
|
|
(10,855)
|
Other comprehensive
income (loss)
|
|
|
|
|
|
|
|
Foreign currency translation gain (loss)
|
8,655
|
|
(21,448)
|
|
(16,669)
|
|
(2,505)
|
Change in fair value of available for sale securities
|
1,207
|
|
(2,700)
|
|
-
|
|
-
|
Other
comprehensive income (loss), net of tax
|
9,862
|
|
(24,148)
|
|
(16,669)
|
|
(2,505)
|
Comprehensive
loss
|
(65,405)
|
|
(73,874)
|
|
(88,625)
|
|
(13,319)
|
Less:
Comprehensive income attributable to noncontrolling
interests
|
-
|
|
2,899
|
|
460
|
|
69
|
Comprehensive loss
attributable to 500.com Limited
|
(65,405)
|
|
(76,773)
|
|
(89,085)
|
|
(13,388)
|
|
|
|
|
|
|
|
|
Losses per share
attributable to 500.com Limited
|
|
|
|
|
|
|
|
Basic
|
(0.18)
|
|
(0.13)
|
|
(0.18)
|
|
(0.03)
|
Diluted
|
(0.18)
|
|
(0.13)
|
|
(0.18)
|
|
(0.03)
|
Losses per
ADS* attributable to 500.com Limited
|
|
|
|
|
|
|
|
Basic
|
(1.82)
|
|
(1.29)
|
|
(1.77)
|
|
(0.27)
|
Diluted
|
(1.82)
|
|
(1.29)
|
|
(1.77)
|
|
(0.27)
|
Weighted average
number of Class A and Class B
ordinary shares outstanding:
|
|
|
|
|
|
|
|
Basic
|
414,412,535
|
|
408,079,914
|
|
407,742,917
|
|
407,742,917
|
Diluted
|
414,412,535
|
|
408,079,914
|
|
407,742,917
|
|
407,742,917
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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$"),
except for number of shares, per share (or ADS)
data)
|
|
|
|
September 30,
2016
|
|
June 30,
2017
|
|
September 30,
2017
|
|
September 30,
2017
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
Operating
loss
|
(81,645)
|
|
(69,507)
|
|
(74,416)
|
|
(11,184)
|
Adjustment for share-based compensation
expenses
|
33,325
|
|
25,842
|
|
13,404
|
|
2,015
|
Adjusted operating
loss (non-GAAP)
|
(48,320)
|
|
(43,665)
|
|
(61,012)
|
|
(9,169)
|
|
|
|
|
|
|
|
|
Net loss
attributable to 500.com Limited
|
(75,267)
|
|
(52,625)
|
|
(72,232)
|
|
(10,855)
|
Adjustment for share-based compensation
expenses
|
33,325
|
|
25,842
|
|
13,404
|
|
2,015
|
Adjusted net loss
attributable to 500.com
Limited (non-GAAP)
|
(41,942)
|
|
(26,783)
|
|
(58,828)
|
|
(8,840)
|
|
|
|
|
|
|
|
|
Losses per share
attributable to 500.com
Limited (non-GAAP)
|
|
|
|
|
|
|
|
Basic
|
(0.10)
|
|
(0.07)
|
|
(0.14)
|
|
(0.02)
|
Diluted
|
(0.10)
|
|
(0.07)
|
|
(0.14)
|
|
(0.02)
|
Losses per ADS*
attributable to 500.com
Limited (non-GAAP)
|
|
|
|
|
|
|
|
Basic
|
(1.01)
|
|
(0.66)
|
|
(1.44)
|
|
(0.22)
|
Diluted
|
(1.01)
|
|
(0.66)
|
|
(1.44)
|
|
(0.22)
|
Weighted average
number of Class A and
Class B ordinary shares outstanding:
|
|
|
|
|
|
|
|
Basic
|
414,412,535
|
|
408,079,914
|
|
407,742,917
|
|
407,742,917
|
Diluted
|
414,412,535
|
|
408,079,914
|
|
407,742,917
|
|
407,742,917
|
|
|
|
|
|
|
|
|
* American Depositary
Shares, which are traded on the NYSE. Each ADS represents ten Class
A ordinary shares of the Company.
|
View original
content:http://www.prnewswire.com/news-releases/500com-limited-announces-unaudited-financial-results-for-the-third-quarter-of-2017-300555419.html
SOURCE 500.com Limited