Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a
leading mobile application store and mobile social network
community operator in China, announced today its preliminary
unaudited financial results for the
fiscal
fourth quarter ("fourth quarter 2011") and fiscal year
ended March 31, 2011 ("fiscal year 2011"). The preliminary
unaudited financial data and operating data presented below are
subject to change and the changes may be material.
Preliminary Fourth Quarter 2011 Highlights
- Total revenues increased 20.8% to RMB177.5 million (US$27.1
million) in fourth quarter 2011, compared to the fiscal fourth
quarter ended March 31, 2010 ("fourth quarter 2010"). Maopao
Community revenues through K Currency, i.e., revenues not collected
through mobile network operators represented 12.1% of total
revenues, compared to 1.6% in fourth quarter 2010
- Profit from operations was RMB14.4 million (US$2.2 million) in
fourth quarter 2011, down 35.2% from fourth quarter 2010
- Non-IFRS profit from operations was RMB27.5 million (US$4.2
million) in fourth quarter 2011, up 13.9% from fourth quarter
2010
- Net profit was RMB4.4 million (US$0.7 million) in fourth
quarter 2011, compared to net loss of RMB109.9 million in fourth
quarter 2010
- Non-IFRS net profit was RMB17.5 million (US$2.7 million) in
fourth quarter 2011, up 48.4% from fourth quarter 2010
- Basic and diluted earnings per common share were RMB0.02
(US$0.00) and RMB0.02 (US$0.00), respectively. Non-IFRS basic and
diluted earnings per common share were RMB0.07 (US$0.01) and
RMB0.07 (US$0.01), respectively
- Application store revenue increased 5.7% to RMB149.4 million
(US$22.8 million) in fourth quarter 2011 from fourth quarter 2010.
Sky-mobi's application store experienced 5.0 billion user visits
with 847.7 million downloads in fourth quarter 2011
- Maopao Community revenue through K Currency increased 798.3% to
RMB21.4 million (US$3.3 million) in fourth quarter 2011 from fourth
quarter 2010. Sky-mobi had 11.0 million active members of the
Maopao Community with 884.1 million member log-ins in fourth
quarter 2011
Preliminary Fiscal Year 2011 Highlights
- Total revenues increased 24.1% year-on-year to RMB675.3 million
(US$103.1 million) in fiscal year 2011. Maopao Community revenues
through K Currency, i.e., revenues not collected through mobile
network operators represented 8.9% of total revenues in fiscal year
2011 compared to 0.1% for the fiscal year ended March 31, 2010
- Profit from operations decreased 83.0% year-on-year to RMB21.1
million (US$3.2 million) in fiscal year 2011
- Non-IFRS profit from operations decreased 41.2% year-on-year to
RMB75.0 million (US$11.5 million) in fiscal year 2011
- Net profit was RMB135.6 million (US$20.7 million) in fiscal
year 2011 compared to net loss of RMB229.8 million in the fiscal
year ended March 31, 2010
- Non-IFRS net profit decreased 52.5% year-on-year to RMB54.9
million (US$8.4 million) in fiscal year 2011
- Basic and diluted earnings per common share were RMB0.74
(US$0.11) and RMB0.06 (US$0.01), respectively. Non-IFRS basic and
diluted earnings per common share were RMB0.30 (US$0.05) and
RMB0.25 (US$0.04), respectively, in fiscal year 2011
- Application store revenue increased 16.1% to RMB598.8 million
(US$91.4 million). Sky-mobi's application store experienced 14.1
billion user visits with 3.2 billion downloads in fiscal year
2011
- Maopao Community revenue through K Currency increased 1,578.3%
to RMB60.0 million (US$9.2 million). Sky-mobi had 30.1 million
active members of the Maopao Community with 2.7 billion member
log-ins in fiscal year 2011
Non-IFRS figures exclude share-based compensation expenses and
other non-operating one-time items. Please see "About Non-IFRS
Financial Measures" in this release for more information.
"We are pleased with our fiscal fourth quarter 2011 performance.
Our application store had a record 5 billion user visits and 847.7
million downloads and our Maopao Community grew to a record 11
million active members and 884.1 million member log-ins," stated
Mr. Michael Tao Song, Chairman and Chief Executive Officer of
Sky-mobi. "We entered into important partnerships during the fiscal
fourth quarter 2011. We signed a strategic partnership with Tencent
in January and a mobile advertising contract with Sohu in March.
More recently, in conjunction with the launch of OPENSKY, we
announced SINA Mobile, SNS Game (the promoter of the Chinese
version of a hit game, Zombie Farm) and other major Internet and
videogame companies became the first international players to join
the Maopao Community. We look forward to more exciting partnerships
as Maopao becomes the platform of choice to access the hundreds of
millions of mobile users in China. In addition, OPENSKY will offer
our users an unprecedented experience in enjoying applications with
other users, increasing our user stickiness and monetization."
"In addition to our better than expected revenue performance, we
also achieved stronger profitability on a non-IFRS basis, driven by
a slowdown in our operating expense growth and an improvement in
our gross margin in fourth quarter 2011 compared to the previous
quarter as well as compared to the fourth quarter 2010. Our fiscal
fourth quarter 2011 non-IFRS gross margin increased 440 basis
points sequentially and 150 basis points year-over-year, stated Mr.
Carl Yeung, Chief Financial Officer of Sky-mobi. "As we look
forward to fiscal 2012, we plan to continue to increase user
activities and monetize our large user base through more diverse
application and content offerings and making further improvements
to the Maopao Community. We expect robust growth from the new games
we plan to launch on the Maopao Community and an increase in
monetization following the launch of our OPENSKY platform with our
initial key partners."
Preliminary Financial Results for Fourth Quarter
2011
Total Revenues
|
For the three months ended |
|
March 31, |
|
2010 |
2011 |
2011 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
(unaudited) |
Revenues: |
|
|
|
Application store revenues |
141,348 |
149,396 |
22,814 |
Maopao Community revenues |
|
|
|
through K Currency |
2,382 |
21,398 |
3,268 |
Other revenues |
3,221 |
6,664 |
1,018 |
Total revenues |
146,951 |
177,458 |
27,100 |
|
|
|
|
Total revenues for fourth quarter 2011 increased 20.8% to
RMB177.5 million (US$27.1 million) compared to RMB147.0 million for
fourth quarter 2010.
Application store revenues of RMB149.4 million (US$22.8 million)
in fourth quarter 2011 representing 84.2% of total revenues,
increased 5.7% from fourth quarter 2010. Sky-mobi had 5.0 billion
user visits and 847.7 million downloads of applications and content
from the Maopao application store in fourth quarter 2011, an
increase of 192.1% and 47.0%, respectively, compared to 1.7 billion
user visits and 576.8 million downloads in fourth quarter 2010. The
fast growth in application store user activity was offset by lower
store activity monetization as a result of policies introduced by
mobile network operators requiring multiple confirmations on
SMS-based purchases of mobile applications and content, including
triple-confirmation introduced in September 2010. The negative
impact of the changes in carrier policy continued into fourth
quarter 2011, although such impact was reduced compared to the
quarter ended December 31, 2010.
Maopao Community revenues through K Currency were RMB21.4
million (US$3.3 million), up 798.3% from fourth quarter 2010 and
contributing 12.1% of total revenue in fourth quarter 2011.
Sky-mobi's Maopao Community had 11.0 million active members and
884.1 million member log-ins in fourth quarter 2011, an increase of
100.0% and 132.3%, respectively, compared to 5.5 million active
members and 380.6 million member log-ins in fourth quarter 2010.
Revenues from the Maopao Community increased due to fast growth in
the number of active members as well as increased spending per
active member resulting from the success of "Fantasy of Three
Kingdoms," a mobile social game. However, the Company believes that
the growth of Maopao Community revenues through K Currency in
fourth quarter 2011 compared to the previous quarter was partially
offset by the fact that many of our registered members traveled on
extended trips during the Chinese New Year Holiday and had
difficulties purchasing prepaid cards. The Company expects that
Maopao Community revenues through K Currency will contribute an
increasing percentage of total revenues in the quarters ahead as
Sky-mobi continues to focus on growing its active mobile community
member base and on diversifying revenue collection away from
carrier-based payment channels.
Cost of Revenues and Gross
Profit
Total cost of revenues for fourth quarter 2011 increased 19.2%
to RMB116.5 million (US$17.8 million) compared to RMB97.7 million
in fourth quarter 2010. Our gross profit for fourth quarter 2011
increased 23.8% to RMB61.0 million (US$9.3 million) from RMB49.2
million in fourth quarter 2010.
Total non-IFRS cost of revenues for fourth quarter 2011
increased 18.1% to RMB115.2 million (US$17.6 million) compared to
RMB97.6 million in fourth quarter 2010.
|
For the three months ended |
|
March 31, |
|
2010 |
2011 |
2011 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
(unaudited) |
Non-IFRS cost of revenues: |
|
|
|
Costs associated with payments |
|
|
|
to industry participants |
92,655 |
105,756 |
16,151 |
Direct costs |
4,925 |
9,466 |
1,445 |
Total non-IFRS cost of revenues: |
97,580 |
115,222 |
17,596 |
|
|
|
|
Non-IFRS Gross Margin |
33.6% |
35.1% |
|
|
|
|
|
Costs associated with payments to industry participants
increased 14.1% to RMB105.8 million (US$16.2 million) in fourth
quarter 2011 compared to RMB92.7 million in fourth quarter 2010.
The increase was slower than growth in revenues primarily because
of lower payments to service providers and mobile network operators
due to lower application store activity monetization as well as
more contribution from Maopao Community revenue through K Currency
as a result of increased use of third-party payment agents,
partially offset by increased payment to content providers that
provide mobile social games on Maopao Community.
Direct costs including salaries and benefits, depreciation,
office expenses and utilities directly related to the operation of
Maopao application store, on a non-IFRS basis, increased 92.2% to
RMB9.5 million (US$1.4 million) in fourth quarter 2011 compared to
RMB4.9 million in fourth quarter 2010. This increase was largely
due to the significant increase in headcount and depreciation
related to the higher number of servers deployed since fourth
quarter of 2010 to support the growth of the Maopao Community.
Our gross profit for fourth quarter 2011 increased 23.8% to
RMB61.0 million (US$9.3 million) compared to RMB49.2 million in
fourth quarter 2010. Non-IFRS gross margin in fourth quarter 2011
was 35.1%, up from 33.6% in fourth quarter 2010, mainly due to
lower costs associated with payments to industry participants as a
percentage of revenue.
Operating Expenses (representing the total amount of
research and development expenses, sales and marketing expenses,
general and administration expenses)
Total operating expenses primarily consisting of employee
salaries and benefits, training expenses, travelling, entertainment
and office related expenses increased 72.1% in fourth quarter 2011
to RMB46.6 million (US$7.1 million) from RMB27.1 million in fourth
quarter 2010.
Total non-IFRS operating expenses increased 37.6% in fourth
quarter 2011 to RMB34.8 million (US$5.3 million) from RMB25.3
million in fourth quarter 2010.
|
For the three months ended |
|
March 31, |
|
2010 |
2011 |
2011 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
(unaudited) |
Non-IFRS operating expenses: |
|
|
|
Research and development expenses |
8,418 |
11,333 |
1,731 |
Sales and marketing expenses |
8,859 |
5,137 |
785 |
General and administration expenses |
7,990 |
18,308 |
2,797 |
Total non-IFRS operating expenses |
25,267 |
34,778 |
5,313 |
|
|
|
|
The increase in operating expenses was primarily due to the
increase in headcount, as described below,
|
As of 'March 31, |
|
|
2010 |
2011 |
% change |
|
|
|
|
Headcount |
|
|
|
Operations |
63 |
155 |
146.0% |
Research and development |
175 |
204 |
16.6% |
Sales and marketing |
49 |
100 |
104.1% |
General and administration |
44 |
75 |
70.5% |
|
|
|
|
Total Headcount |
331 |
534 |
61.3% |
The Company's employee headcount increased 61.3% to 534 as of
March 31, 2011 from 331 as of March 31, 2010. The increase in
headcount was necessary to support the growing operation and active
promotion of the Maopao Community and carrier independent
third-party payment channels.
Non-IFRS research and development expenses for the fourth
quarter increased 34.6% to RMB11.3 million (US$1.7 million)
compared to RMB8.4 million in fourth quarter 2010. The increase was
primarily due to increase in salaries and bonus from increased
headcount.
Non-IFRS sales and marketing expenses for the fourth quarter
decreased 42.7% to RMB5.1 million (US$0.8 million) compared to
RMB8.9 million in fourth quarter 2010. The decrease was due to a
shift in compensation structure to long term stock based incentive
for sales and marketing staff, lowering the cash salaries and bonus
per staff and a reclassification of additional cost paid to content
provider in fiscal third quarter 2011 to cost of revenues.
Non-IFRS general and administrative expenses for the fourth
quarter increased 129.1% to RMB18.3 million (US$2.8 million)
compared to RMB8.0 million in fourth quarter 2010. This was
primarily due to increase in salaries and bonus from increased
headcount.
Net profit and
EPS
Net profit in fourth quarter 2011 was RMB4.4 million (US$0.7
million) compared to a loss of RMB109.9 million in fourth quarter
2010.
Non-IFRS net profit in fourth quarter 2011 increased 48.4% to
RMB17.5 million (US$2.7 million) from RMB11.8 million in fourth
quarter 2010.
Basic and diluted earnings per common share in fourth quarter
2011 were RMB0.02 (US$0.00) and RMB0.02 (US$0.00) respectively, and
basic and diluted earnings per ADS were RMB0.16 (US$0.02) and RMB
0.16 (US$0.02) respectively.
Non-IFRS basic and diluted earnings per common share in fourth
quarter 2011 were RMB0.07 (US$0.01) and RMB0.07 (US$0.01)
respectively, and non-IFRS basic and diluted earnings per ADS were
RMB0.56 (US$0.09) and RMB0.56 (US$0.09) respectively.
The weighted average number of ADSs used to calculate basic and
diluted earnings per ADS for fourth quarter 2011 were 32,173,725
and 32, 255,178 respectively.
Each ADS represents eight common shares.
Other Operating Data
The following table sets forth total user downloads of our
single-user applications and content titles for the period
indicated:
|
For the three months
ended |
|
|
March 31, |
|
In millions |
2010 |
2011 |
% change |
|
|
|
|
Application Store |
|
|
|
User visits |
1,721.9 |
5,029.8 |
192.1% |
|
|
|
|
Single-user application and content
downloads |
|
|
Single-player games |
310.2 |
322.4 |
3.9% |
Multimedia applications and content
titles |
128.4 |
129.2 |
0.6% |
Other single-user applications |
138.2 |
396.1 |
186.6% |
Total Single-user application and content
downloads |
576.8 |
847.7 |
47.0% |
|
|
|
|
The following table sets forth the number of registered, active
members and member log-ins in our Maopao Community as of the date
indicated:
|
As of |
|
In millions |
March 31, 2010 |
March 31,2011 |
% change |
|
|
|
|
Number of registered members |
20.4 |
72.7 |
256.4% |
|
|
|
|
Maopao Community |
|
|
|
Number of active members |
5.5 |
11.0 |
100.0% |
Number of member log-ins |
380.6 |
884.1 |
132.3% |
|
|
|
|
Sky-mobi had 257,389,800 common shares outstanding as of March
31, 2011 and 257,389,800 common shares outstanding as of December
31, 2010.
Business Outlook
For the fiscal first quarter 2012 ending June 30, 2011, Sky-mobi
expects total revenues to be in the range of RMB180 million to
RMB190 million.
These are Sky-mobi's current projections, which are subject to
change. You are cautioned that operating results in fourth quarter
2011 and fiscal year 2011 are not necessarily indicative of
operating results for any future periods.
Other Announcements
Hu Xinyong, Vice President of Marketing has resigned from the
Company. Mr. Hu was responsible for the marketing of our Maopao
brand and decided to pursue his own interest to start a venture
focused on the Android mobile technology platform. Sky-mobi is
supportive of Mr. Hu's new venture and will maintain a close
working relationship to explore new applications for the Android
platform.
Conference Call and Webcast
Sky-mobi's management team will host a conference call 8:00 a.m.
ET on Monday, May 9, 2011, to discuss results for its fiscal fourth
quarter and full year ended March 31, 2011.
A live audio webcast of the conference call will be available on
Sky-mobi's website at http://ir.sky-mobi.com/events.cfm.
To participate in the live conference call, please dial the
following number five to ten minutes prior to the scheduled
conference call time: +1 (877) 275-8968. International callers
should dial +1 (706) 643-1666. When prompted by the operator,
mention conference pass code 63639619.
If you are unable to participate in the call at this time, a
replay will be available for 14 days starting on Monday, May 9,
2011, at 10:00 a.m. ET. To access the replay, please dial +1 (800)
642-1687, international callers dial +1 (706) 645-9291, and enter
the pass code 63639619.
About Non-IFRS Financial Measures
To supplement its consolidated financial statements presented in
accordance with International Financial Reporting Standards, or
IFRS, Sky-mobi uses several non-IFRS financial measures defined
below. The Company believes both management and investors
benefit from referring to non-IFRS financial measures in assessing
the Company's performance and prospects for the future.
Specifically, the Company believes that non-IFRS financial measures
provide meaningful supplemental information regarding its
performance by excluding certain items that may not be indicative
of the Company's operating performance.
The presentation of this additional information is not meant to
be considered superior to, in isolation from or as a substitute for
results prepared in accordance with IFRS. A limitation of using
non-IFRS cost of revenues, gross profit, operating expenses, profit
from operation, net profit and net profit per share is that these
non-IFRS measures exclude the share-based compensation expenses
that have been and will continue to be for the foreseeable future a
significant recurring expense in the business. Management
compensates for these limitations by providing specific information
regarding the IFRS amounts excluded from each non-IFRS measure. For
more information on these non-IFRS financial measures, please see
the tables captioned "Reconciliations of non-IFRS financial
measures to comparable IFRS financial measures" contained elsewhere
in this release.
Definitions of Non-IFRS Measures
Non-IFRS cost of
revenues is defined as cost of revenue
excluding share-based compensation expenses.
Non-IFRS gross profit is
defined as Revenue less non-IFRS cost of Revenues.
Non-IFRS operating expenses is
defined as operating expenses excluding share-based compensation
expenses, and one-time items such as IPO marketing expenses.
Non-IFRS profit from operations is defined as
Non-IFRS gross profit less non-IFRS operating expenses.
Non-IFRS net
profit is defined as non-IFRS profit from
operations plus/minus other income/(expenses), less income
taxes. Such amount excludes non-cash expenses from changes of fair
value of preferred shares and warrant, and one-time
items.
Non-IFRS basic and diluted
earnings per common share/ADS are defined as non-IFRS net
profit divided by weighted average outstanding shares/ADSs during
the period/year.
Explanatory Notes
This announcement contains translations of certain Renminbi
(RMB) amounts into U.S. dollars (US$) at a specified rate solely
for the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of
RMB6.5483 to US$1.00, the exchange rate at March 31, 2011 as set
forth in the H.10 statistical release of the Federal Reserve
Board.
When calculating number of users of Maopao application store,
Sky-mobi counts an individual who uses a particular handset with a
particular SIM card to access Maopao as one user. Therefore, an
individual who accesses Maopao through one handset with two SIM
cards separately will be counted as two users, while an individual
who accesses Maopao through two handsets using the same SIM card
will also be counted as two users.
The number of downloads of application and content titles on
Maopao refers to the number of requests made by mobile users for
downloading a particular application or a content title, or for
authorization to access a specified feature of a particular
application or a content title from Maopao. There may be multiple
download requests made by a user for an application depending on
the complexity of the application and whether interruptions
occurred during the downloading process.
The number of active members of the Maopao Community refers to
the number of registered members who logged on to the Maopao
Community at least twice during a month for the relevant
quarter.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as ''believes,''
''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' the
negative of these terms, or other comparable terminology. Such
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those projected. Potential
risks and uncertainties include the effectiveness, profitability,
and marketability of the Company's solutions; the Company's limited
operating history; measures introduced by the PRC government and
mobile network operators aimed at the telecommunications industry
and mobile applications-related services; the Company's
ability to maintain cooperation relationships with handset
companies, content providers and payment service providers; its
dependence on mobile service providers, and ultimately mobile
network operators, for the collection of a substantial majority of
its revenues; billing and transmission failures, which are often
beyond the Company's control; its ability to compete effectively;
its ability to capture opportunities in the expected growth of the
smart phone market; its ability to obtain and maintain all
applicable permits and approvals; general economic and business
conditions; the volatility of the Company's operating results and
financial condition; the Company's ability to attract or retain
qualified senior management personnel and research and development
staff; and other risks detailed in the Company's filings with the
Securities and Exchange Commission. These forward-looking
statements are based on current expectations, assumptions,
estimates and projections about the Company and the industry. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by
law.
About Sky-mobi Limited
Sky-mobi Limited operates the leading mobile application store
in China as measured by revenues in 2009, according to Analysys
International. The Company works with handset companies to
pre-install its Maopao mobile application store on handsets and
with content providers to provide users with applications and
content titles. Users of its Maopao store can browse, download, and
enjoy a range of applications and content, such as single-player
games, mobile music, and books. The Company's Maopao store enables
mobile applications and content to be downloaded and run on various
mobile handsets with different hardware and operating system
configurations. The Company also operates a mobile social network
community in China, the Maopao Community, where it offers mobile
social games, as well as applications and content with social
network functions to its registered members. The Company is based
in Hangzhou, the People's Republic of China. For more information,
please visit: www.sky-mobi.com.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
FINANCIAL TABLES
FOLLOW
|
|
|
|
Sky-mobi
Limited Preliminary Consolidated Statements of
Comprehensive Income Data (IFRS) |
|
|
For the three months ended |
For the year ended |
|
|
March 31, |
March 31, |
|
|
2010 |
2011 |
2011 |
2010 |
2011 |
2011 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
(unaudited) |
(unaudited) |
|
|
|
|
|
|
|
|
Revenues |
146,951 |
177,458 |
27,100 |
544,258 |
675,294 |
103,126 |
Cost of revenues |
(97,723) |
(116,503) |
(17,792) |
(354,351) |
(464,837) |
(70,986) |
Gross profit |
49,228 |
60,955 |
9,308 |
189,907 |
210,457 |
32,140 |
|
|
|
|
|
|
|
Research and development expenses |
(8,957) |
(14,545) |
(2,222) |
(26,900) |
(52,260) |
(7,981) |
Sales and marketing expenses |
(9,435) |
(6,742) |
(1,030) |
(21,511) |
(38,200) |
(5,834) |
General and administration expenses |
(8,679) |
(25,312) |
(3,866) |
(17,507) |
(98,935) |
(15,109) |
Total operating expenses |
(27,071) |
(46,599) |
(7,118) |
(65,918) |
(189,395) |
(28,924) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit from operations |
22,157 |
14,356 |
2,190 |
123,989 |
21,062 |
3,216 |
|
|
|
|
|
|
|
Other gains (loss) |
584 |
(1,787) |
(273) |
3,531 |
11,179 |
1,708 |
Impairment of investments in associates |
-- |
(5,760) |
(880) |
-- |
(5,760) |
(880) |
Finance costs |
-- |
-- |
-- |
(5,417) |
(4,333) |
(662) |
Share of results of associates |
(1,255) |
(2,447) |
(374) |
(1,255) |
(6,011) |
(918) |
Gain (loss) on changes in fair value of
convertible redeemable preferred shares |
(70,652) |
-- |
-- |
(290,135) |
106,684 |
16,292 |
Gain (loss) on changes in fair value of
warrants |
(4,781) |
-- |
-- |
(7,548) |
7,377 |
1,127 |
Loss on modification of convertible
redeemable preferred shares |
(44,439) |
-- |
-- |
(44,439) |
-- |
-- |
|
|
|
|
|
|
|
Profit (loss) before tax |
(98,386) |
4,362 |
663 |
(221,274) |
130,198 |
19,883 |
Income tax benefit (expenses) |
(11,534) |
65 |
10 |
(8,528) |
5,367 |
820 |
Profit (loss) for the period |
(109,920) |
4,427 |
673 |
(229,802) |
135,565 |
20,703 |
|
|
|
|
|
|
|
Total comprehensive profit (loss) for the
period |
(109,920) |
4,427 |
673 |
(229,802) |
135,565 |
20,703 |
|
|
|
|
|
|
|
Total comprehensive profit (loss)
attributable to owners of the company |
(109,920) |
4,632 |
704 |
(229,802) |
136,313 |
20,818 |
Non-controlling interests |
-- |
(205) |
(31) |
-- |
(748) |
(115) |
|
(109,920) |
4,427 |
673 |
(229,802) |
135,565 |
20,703 |
|
-- |
-- |
|
-- |
-- |
|
Earnings (loss) per common share |
|
|
|
|
|
|
Basic |
(0.73) |
0.02 |
0.00 |
(1.53) |
0.74 |
0.11 |
Diluted |
(0.73) |
0.02 |
0.00 |
(1.53) |
0.06 |
0.01 |
|
|
|
|
|
|
|
Weight average number of shares |
|
|
|
|
|
|
Basic |
138,541,767 |
257,389,800 |
|
129,166,600 |
182,010,313 |
|
Diluted |
138,541,767 |
258,041,427 |
|
129,166,600 |
219,772,671 |
|
|
|
|
|
|
|
|
|
Reconciliations of
non-IFRS financial measures to comparable
IFRS financial measures |
|
|
|
|
|
For the three months ended |
For the year ended |
|
|
March 31, |
March 31, |
|
|
2010 |
2011 |
2011 |
2010 |
2011 |
2011 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
(unaudited) |
(unaudited) |
|
|
|
|
|
|
|
IFRS cost of revenues |
(97,723) |
(116,503) |
(17,792) |
(354,351) |
(464,837) |
(70,986) |
Less: Share-based compensation expenses |
143 |
1,281 |
196 |
143 |
2,658 |
406 |
Non-IFRS cost of revenues |
(97,580) |
(115,222) |
(17,596) |
(354,208) |
(462,179) |
(70,580) |
|
|
|
|
|
|
|
IFRS gross profit |
49,228 |
60,955 |
9,308 |
189,907 |
210,457 |
32,140 |
Add: Share-based compensation expenses |
143 |
1,281 |
196 |
143 |
2,658 |
406 |
Non-IFRS gross profit |
49,371 |
62,236 |
9,504 |
190,050 |
213,115 |
32,546 |
|
|
|
|
|
|
|
Total IFRS operating expenses |
(27,071) |
(46,599) |
(7,118) |
(65,918) |
(189,395) |
(28,924) |
Less: Share-based compensation expenses |
1,804 |
11,821 |
1,805 |
3,463 |
47,634 |
7,274 |
Less: IPO expenses charged into current
expenses |
-- |
-- |
-- |
-- |
3,659 |
559 |
Total non-IFRS operating expenses |
(25,267) |
(34,778) |
(5,313) |
(62,455) |
(138,102) |
(21,091) |
|
|
|
|
|
|
|
IFRS profit from operations |
22,157 |
14,356 |
2,190 |
123,989 |
21,062 |
3,216 |
Add: Share-based compensation expenses |
1,947 |
13,102 |
2,001 |
3,606 |
50,292 |
7,680 |
Add: IPO expenses charged into current
expenses |
-- |
-- |
-- |
-- |
3,659 |
559 |
Non-IFRS Profit from operations |
24,104 |
27,458 |
4,191 |
127,595 |
75,013 |
11,455 |
|
|
|
|
|
|
|
IFRS Profit (loss) for the period |
(109,920) |
4,427 |
673 |
(229,802) |
135,565 |
20,703 |
Add: Share-based compensation expenses |
1,947 |
13,102 |
2,001 |
3,606 |
50,292 |
7,680 |
Add: IPO expenses charged into current
expenses |
-- |
-- |
-- |
-- |
3,659 |
559 |
Add: Loss(Gain) on changes in fair value of
warrants |
4,781 |
-- |
-- |
7,548 |
(7,377) |
(1,127) |
Add: Loss(Gain) on changes in fair value of
convertible redeemable preferred shares |
70,652 |
-- |
-- |
290,135 |
(106,684) |
(16,292) |
Add: Loss on modification of convertible
redeemable preferred shares |
44,439 |
-- |
-- |
44,439 |
-- |
-- |
Less: Exchange gain relating to change in
fair value of warrants |
(89) |
-- |
-- |
(256) |
(12,240) |
(1,869) |
Less: Reversal withholding tax of
shareholding's dividend |
-- |
-- |
|
-- |
(8,305) |
(1,268) |
Non-IFRS net profit for the period |
11,810 |
17,529 |
2,674 |
115,670 |
54,910 |
8,386 |
|
|
|
|
|
|
|
Non-IFRS earnings per common share |
|
|
|
|
|
|
Basic |
0.09 |
0.07 |
0.01 |
0.90 |
0.30 |
0.05 |
Diluted |
0.09 |
0.07 |
0.01 |
0.90 |
0.25 |
0.04 |
|
|
|
|
|
|
|
Weight average number of shares |
|
|
|
|
|
|
Basic |
138,541,767 |
257,389,800 |
|
129,166,600 |
182,010,313 |
|
Diluted |
138,541,767 |
258,041,427 |
|
129,166,600 |
219,772,671 |
|
|
|
|
|
|
|
|
Sky-mobi
Limited Consolidated Statements of Financial
Position (IFRS) |
|
|
|
|
As of |
As of |
|
December 31, |
March 31, |
March 31, |
|
2010 |
2011 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
(unaudited) |
(unaudited) |
ASSETS |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
463,820 |
367,214 |
56,078 |
Term deposits |
50,000 |
152,718 |
23,322 |
Trade and other receivables |
76,263 |
86,181 |
13,161 |
Amounts due from related parties |
650 |
489 |
75 |
Total current assets |
590,733 |
606,602 |
92,636 |
|
|
|
|
Non-current assets |
|
|
|
Property and equipment |
47,784 |
43,285 |
6,610 |
Investments in associates |
8,207 |
-- |
-- |
Deferred tax assets |
4,012 |
6,656 |
1,016 |
Total non-current assets |
60,003 |
49,941 |
7,626 |
|
|
|
|
Total assets |
650,736 |
656,543 |
100,262 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Current liabilities |
|
|
|
Trade and other payables |
154,298 |
135,779 |
20,734 |
Income tax liabilities |
5,777 |
11,797 |
1,802 |
Amounts due to related parties |
581 |
895 |
137 |
Deferred revenue |
6,066 |
6,532 |
998 |
Total current liabilities |
166,722 |
155,003 |
23,671 |
|
|
|
|
Total liabilities |
166,722 |
155,003 |
23,671 |
|
|
|
|
Equity |
|
|
|
Share capital |
92 |
92 |
14 |
Share premium |
679,771 |
679,772 |
103,809 |
Reserves |
56,181 |
69,282 |
10,580 |
Deficit |
(252,537) |
(247,908) |
(37,858) |
Equity attributable to owners of the
Company |
483,507 |
501,238 |
76,545 |
Non-controlling interests |
507 |
302 |
46 |
Total equity |
484,014 |
501,540 |
76,591 |
Total equity and liabilities |
650,736 |
656,543 |
100,262 |
|
|
|
|
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: + (86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Mr. Athan Dounis
Phone: +1-646-213-1916
Email: athan.dounis@ccgir.com
Mobius Management (NASDAQ:MOBI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mobius Management (NASDAQ:MOBI)
Historical Stock Chart
From Jul 2023 to Jul 2024