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 unaudited
financial results for the fiscal first quarter ended June 30, 2012
("first quarter 2013").
First Quarter 2013
Highlights
- Total revenues decreased 7.6% to RMB153.4 million (US$24.1
million) in first quarter 2013 compared to the fiscal first quarter
ended June 30, 2011 ("first quarter 2012"). Revenues collected from
third party channels (i.e., revenues not collected through mobile
network operators) represented 21.8% of total revenues
- Loss from operations was RMB9.2 million (US$1.4 million) in
first quarter 2013, compared to profit from operations of RMB8.1
million in first quarter 2012
- Non-IFRS1 loss from operations was RMB0.9 million (US$0.1
million) in first quarter 2013, compared to Non-IFRS profit from
operations of RMB20.5 million in first quarter 2012
- Net loss was RMB5.1 million (US$0.8 million) in first quarter
2013, compared to net profit of RMB7.5 million in first quarter
2012
- Non-IFRS net profit was RMB3.1 million (US$0.5 million) in
first quarter 2013, down 84.3% from first quarter 2012
- Basic and diluted loss per common share were RMB0.02 (US$0.00).
Non-IFRS basic and diluted earnings per common share ("EPS") were
RMB0.01 (US$0.00)
- Basic and diluted loss per ADS2 were RMB0.16 (US$0.02).
Non-IFRS basic and diluted earnings per ADS were RMB0.10 (US$0.02)
- Revenues collected from carrier channels decreased 17.4% to
RMB112.5 million (US$17.7 million) in first quarter 2013 from first
quarter 2012. Sky-mobi's application store experienced 4.2 billion
user visits with 764.0 million downloads in first quarter 2013
- Revenues collected from third party channels increased 38.8% to
RMB33.5 million (US$5.3 million) in first quarter 2013 from first
quarter 2012. Sky-mobi had 15.9 million active members of the
Maopao Community with 810.3 million member log-ins in first quarter
2013
1Non-IFRS figures exclude share-based compensation
expenses. Please see "About Non-IFRS Financial Measures" in
this release for more information.
2American Depositary Shares, which are traded on the NASDAQ,
each represents eight common shares of the Company.
Commenting on the Company's results, Michael Tao Song, Chairman
and Chief Executive Officer of Sky-mobi, remarked: "We made
significant progress in the smart phone market while maintaining
strong cash flow from the declining Chinese feature phone industry
in the June quarter. Since the launch of our smart phone series of
products at the Global Mobile Internet Conference in May, we have
entered into partnership agreements with 50 handset manufacturers
to pre-install our smart phone application store platform,
application store assistant, browser, mobile game competition
platform or game content.
"The quick pace of adoption by industry players since the recent
launch of our platform is proof of the commercial competitiveness
of our products as well as our monetization capabilities in China.
We expect to continue our rapid development by adding more
manufacturers to work with our smart phone products. Once these
manufacturers begin shipments over the next few quarters, we are
confident we will become one of the top smart phone players in
China by the end of the year," Mr. Song continued.
"We remain the market leader in the feature phone segment,
experiencing a year-on-year revenue decline of only 7.6% compared
to the overall industry estimate of about 25%. This is the result
of the increased revenue contribution from our game-based mobile
community and improvement in Average Revenue per User (ARPU) as we
launched new games for users. The feature phone market is expected
to continue to decline for the rest of the year but we will
continue to optimize our products so that our feature phone
business continues to provide a strong source of cash flow to
support our smart phone growth," Mr. Song concluded.
Commenting on the Company's results, Carl Yeung, Chief Financial
Officer of Sky-mobi, said: "Our revenue for the quarter came in
behind the low end of our most recent guidance by 1% but we
maintain our most recent full year guidance. As we entered our new
fiscal year, the use of carrier based payments has become a
material portion of our community revenue and we began to defer a
portion of our carrier based revenue similar to our revenue
deferral policy for revenues collected from third parties. In
addition, we did not book a small component of revenue from a
partner that demonstrated an unproven collection track record in
accordance with the IFRS accounting policy.
"Our non-IFRS gross margin and operating margin were lower due
to a smaller top line compared to historical quarters while the
relative number of employees was higher due to our investment in
developing products for low cost smart phones. Our financial
strategy is to continue to generate strong cash flow from feature
phones to support our growth and penetration into the smart phone
market while maintaining a reasonable cost base to complete the
transition from feature phones to smart phones without seeking
additional capital.
"With 60 percent of all staff now dedicated to smart phones,
recent rapid client wins, a strong financial base and a prudent
financial strategy, we are one of the best positioned dedicated
mobile internet companies in China today," concluded Mr. Yeung.
Financial Results for First Quarter
2013
Total Revenues
Sky-mobi analyzes revenue from two perspectives: by business
unit and by source. Revenues by business unit are broken down into:
"Application store revenues," "Maopao Community revenues" and
"Other revenues."
Revenues by source are broken down into three categories:
"Revenues collected from carrier channels," "Revenues collected
from third party channels," and "Other revenues." "Other revenues"
comprises commissions charged from mobile service providers, mobile
network operators' selling applications to users through the Maopao
Platform and Sky-mobi's overseas revenues collected via its
overseas mobile service providers. Since "Other Revenues" are only
minimal portion of Sky-mobi's total revenues, the discussions and
analysis will exclude "other revenues" from perspective of
"revenues by source."
|
For the three months ended |
|
June 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Revenues by source: |
|
|
|
Revenues collected from carrier
channels |
136,167 |
112,509 |
17,709 |
Revenues collected from third
party channels |
24,141 |
33,504 |
5,274 |
Other revenues |
5,723 |
7,342 |
1,156 |
Total revenues |
166,031 |
153,355 |
24,139 |
|
|
|
|
|
|
|
|
|
For the three months ended |
|
June 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Revenues by business unit: |
|
|
|
Application store revenues |
133,638 |
103,677 |
16,319 |
Maopao Community revenues |
26,670 |
42,336 |
6,664 |
Other revenues |
5,723 |
7,342 |
1,156 |
Total revenues |
166,031 |
153,355 |
24,139 |
The discussion and analysis below focus on revenues by source,
as the Company believes this metric is more useful to investors in
analyzing and understanding its business model.
Total revenues for first quarter 2013 decreased 7.6% to RMB153.4
million (US$24.1 million) from RMB166.0 million in first quarter
2012.
Revenues collected from carrier channels of RMB112.5 million
(US$17.7 million) in first quarter 2013, representing 73.4% of
total revenues, decreased 17.4% from first quarter 2012. Sky-mobi
had 4.2 billion user visits and 764.0 million downloads of
applications and content from the Maopao application store in first
quarter 2013, a decrease of 28.0% and 2.9%, respectively, compared
to 5.8 billion user visits and 787.2 million downloads in first
quarter 2012. The decrease in application store user activity and
downloads was primarily due to the shrinking market share of
feature phones as a percentage of overall mobile device shipments
in China.
Revenues collected from third party channels were RMB33.5
million (US$ 5.3 million), up 38.8% from first quarter 2012 and
contributing 21.8% of total revenues in first quarter 2013.
Sky-mobi's Maopao Community had 15.9 million active members and
810.3 million member log-ins in first quarter 2013, representing an
increase of 8.2% and a decrease of 40.4%, respectively, compared to
14.7 million active members and 1.4 billion member log-ins in first
quarter 2012. Revenues from the Maopao Community increased due to
growth in the number of active members as well as increased
spending per active member resulting from the Company's two most
popular mobile social games, "Fantasy of Three Kingdoms" and "Fairy
Magic World." The Company expects that revenues collected from
third party channels will contribute an increasing percentage of
total revenues in future quarters as Sky-mobi focuses on growing
its active mobile community member base and on diversifying revenue
collection methods away from traditional carrier-based payment
channels.
Cost of Revenues and Gross
Profit
Total cost of revenues for first quarter 2013 decreased 2.1% to
RMB116.3 million (US$18.3 million) compared to RMB118.8 million in
first quarter 2012.
Total non-IFRS cost of revenues for first quarter 2013 decreased
2.3% to RMB115.3 million (US$18.2 million) compared to RMB118.0
million in first quarter 2012.
|
For the three months
ended |
|
June 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Cost of revenues: |
|
|
|
Costs associated with payments
to industry participants |
107,795 |
103,286 |
16,258 |
Direct costs |
11,024 |
13,010 |
2,048 |
Total cost of revenues: |
118,819 |
116,296 |
18,306 |
|
|
|
|
Gross Margin |
28.4% |
24.2% |
|
|
|
|
|
Non-IFRS cost of revenues: |
|
|
|
Costs associated with payments
to industry participants |
107,795 |
103,286 |
16,258 |
Direct costs |
10,182 |
12,020 |
1,892 |
Total non-IFRS cost of revenues: |
117,977 |
115,306 |
18,150 |
|
|
|
|
Non-IFRS Gross Margin |
28.9% |
24.8% |
|
Non-IFRS cost of revenues is defined as cost of revenues
excluding share-based compensation expenses. The discussion and
analysis below focus on non-IFRS cost of revenue, which the Company
believes more accurately reflects the Company's operating
performance than IFRS cost of revenues.
Costs associated with payments to industry participants
decreased 4.2% to RMB103.3 million (US$16.3 million) in first
quarter 2013 compared to RMB107.8 million in first quarter 2012,
primarily due to the decreased channel costs in line with the
decline in revenues collected from carrier channels, partially
offset by increased revenue share percentage with mobile service
providers and handset manufacturers and increased spending on
better quality mobile content to realize improved customer
retention of the Maopao Community. Approximately RMB6.2 million of
accrued costs payable for content and handset software designs were
reversed into cost of sales in first quarter 2012 while no such
reversal occurred in first quarter 2013. Such accrued costs are not
expected to recur in the current fiscal year.
Non-IFRS direct costs including salaries and benefits,
depreciation, office expenses and utilities directly related to the
operation of Maopao application store and Maopao Community
increased 18.1% to RMB12.0 million (US$1.9 million) in first
quarter 2013 compared to RMB10.2 million in first quarter 2012. The
increase was primarily due to increased costs in connection with
more efforts on developing overseas markets and other revenues.
Gross profit for first quarter 2013 decreased 21.5% to RMB37.1
million (US$5.8 million) compared to RMB47.2 million in first
quarter 2012. Non-IFRS gross margin in first quarter 2013 was
24.8%, down from 28.9% in first quarter 2012, mainly due to the
increased revenue share percentage with mobile service providers
and handset manufacturers, higher costs of better quality mobile
content and the reversal of the previously mentioned accrued costs
in the year ago period.
Operating Expenses (representing research and
development expenses, sales and
marketing expenses, general and
administrative expenses and other
income)
Total operating expenses, primarily consisting of employee
salaries and benefits, training expenses, travelling, entertainment
and office related expenses, increased 18.2% in first quarter 2013
to RMB46.2million (US$7.3 million) from RMB39.1 million in first
quarter 2012.
Total non-IFRS operating expenses were RMB39.0 million (US$6.1
million) in first quarter 2013, increased 41.5% from RMB27.5
million in first quarter 2012.
|
For the three months
ended |
|
June 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
|
|
Operating expenses: |
|
|
|
Research and development
expenses |
13,694 |
20,075 |
3,160 |
Sales and marketing
expenses |
7,814 |
8,930 |
1,406 |
General and administrative
expenses |
20,285 |
17,270 |
2,719 |
Other income |
(2,703) |
(60) |
(10) |
Total operating expenses |
39,090 |
46,215 |
7,275 |
|
|
|
|
Non-IFRS operating expenses: |
|
|
|
Research and development
expenses |
11,363 |
17,758 |
2,795 |
Sales and marketing
expenses |
6,661 |
8,068 |
1,270 |
General and administrative
expenses |
12,209 |
13,202 |
2,079 |
Other income |
(2,703) |
(60) |
(10) |
Total non-IFRS operating expenses |
27,530 |
38,968 |
6,134 |
Non-IFRS operating expenses are defined as operating expenses
excluding share-based compensation expenses. The discussion and
analysis below focus on non-IFRS operating expenses, which the
Company believes is more useful to investors to understand the
Company's operating activities than IFRS operating expenses.
The increase in operating expenses was primarily due to the
increase in headcount, as described below, and the Company's focus
on Android platform/Android product development to participate in
the competitive smart phone market, and business development on
Maopao Community, as well as efforts relating to internal controls
over financial reporting.
|
As of June 30, |
|
2011 |
2012 |
% change |
|
|
|
|
Headcount |
|
|
|
Operations |
151 |
117 |
-22.5% |
Research and development |
225 |
299 |
32.9% |
Sales and marketing |
101 |
84 |
-16.8% |
General and administrative |
79 |
97 |
22.8% |
Total Headcount |
556 |
597 |
7.4% |
The Company's employee headcount increased 7.4% to 597 as of
June 30, 2012 from 556 as of June 30, 2011. The increase in
headcount was mainly due to our business strategies in connection
with Android platform/Android product development and Maopao
community expansion.
Net profit and
EPS
Net loss in first quarter 2013 was RMB5.1 million (US$0.8
million), compared to net profit of RMB7.5 million in first quarter
2012.
Non-IFRS net profit in first quarter 2013 decreased 84.3% to
RMB3.1 million (US$0.5 million) from RMB19.9 million in first
quarter 2012.
Basic and diluted loss per share in first quarter 2013 were
RMB0.02 (US$0.00) and basic and diluted loss per ADS were RMB0.16
(US$0.02).
Non-IFRS basic and diluted EPS in first quarter 2013 were
RMB0.01 (US$0.00), and non-IFRS basic and diluted earnings per ADS
were RMB0.10 (US$0.02).
The weighted average number of ADSs used to calculate basic and
diluted earnings per ADS for first quarter 2013 were
32,273,852.
Each ADS represents eight common shares.
Common Shares
Sky-mobi had 258,191,000 common shares outstanding as of June
30, 2012 and 258,174,600 common shares outstanding as of March 31,
2012.
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 |
|
|
June 30, |
|
In millions |
2011 |
2012 |
% change |
|
|
|
|
Application Store |
|
|
|
User visits |
5,773.3 |
4,156.9 |
-28.0% |
|
|
|
|
Single-user applications and content
downloads |
|
|
|
Single-player games |
285.4 |
263.1 |
-7.8% |
Multimedia applications and
content titles |
110.1 |
118.9 |
8.0% |
Other single-user
applications |
391.7 |
382.0 |
-2.5% |
Total Single-user applications and content
downloads |
787.2 |
764.0 |
-2.9% |
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 June 30, |
|
In millions |
2011 |
2012 |
% change |
|
|
|
|
Number of registered members |
94.1 |
193.4 |
105.5% |
|
|
|
|
|
For the three months
ended |
|
|
June 30, |
|
In millions |
2011 |
2012 |
% change |
|
|
|
|
Maopao Community |
|
|
|
Number of active members |
14.7 |
15.9 |
8.2% |
Number of member log-ins |
1,360.6 |
810.3 |
-40.4% |
Business Outlook
For the fiscal second quarter 2013 ending September 30, 2012,
Sky-mobi expects total revenues to be in the range of RMB135
million to RMB145 million.
Revenues for the fiscal year ending March 31, 2013 are expected
to be in the range of RMB545 million to RMB560 million.
These are Sky-mobi's current projections, which are subject to
change. You are cautioned that operating results in first quarter
2013 are not necessarily indicative of operating results for any
future periods.
Other Announcement
The board has approved a program that authorizes the Company to
repurchase up to US$10 million of its own American Depositary
Shares ("ADSs") during the period from August 13, 2012 to August
12, 2013.
Conference Call and Webcast
Sky-mobi's management team will host a conference call on
August 13, 2012 at 8:00 AM ET, (or 5:00 AM U.S. Pacific Time and
8:00 PM, August 13, 2012 Beijing/Hong Kong time). 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 listen to the
conference call, please use the dial in numbers below:
USA Toll Number: 1-877-275-8968 |
International: +1-706-643-1666 |
Passcode: 15972587 |
A replay of the call will be available for two weeks following
the call and can be accessed on the Company website or by dialing
the numbers below:
USA Toll Number: 1-855-859-2056 |
International: +1-404-537-3406 |
Passcode: 15972587 |
About Non-IFRS Financial Measures
To supplement its consolidated financial statements prepared in
accordance with International Financial Reporting Standards, or
IFRS, Sky-mobi uses several non-IFRS financial measures defined
below. The Company believes management and investors benefit
from non-IFRS financial measures in assessing the Company's
performance and prospects. 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 operations, net profit and net profit per share is that these
non-IFRS measures exclude share-based compensation expenses that
have been and will continue to be for the foreseeable future a
significant recurring expense. Management provides 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 containing reconciliations of non-IFRS
financial measures to comparable IFRS measures in this release.
Definitions of Non-IFRS Measures
Non-IFRS cost of
revenues is defined as cost of revenues
excluding share-based compensation expenses.
Non-IFRS gross profit is
defined as revenues less non-IFRS cost of revenues.
Non-IFRS operating expenses
are defined as operating expenses excluding share-based
compensation 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 gains or losses, less share of
results of associates and income tax.
Non-IFRS basic and diluted
earnings per common share/ADS are defined
as non-IFRS net profit attributable to owners of the Company
divided by weighted average outstanding shares/ADSs during the
period.
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
RMB6.3530 to US$1.00, the exchange rate at June 30, 2012 as set
forth in the H.10 statistical release of the Federal Reserve
Board.
When calculating the number of Maopao users, 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 to a specified feature of a particular
application or a content title from Maopao. A user may make
multiple download requests 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 "may," "will,"
''believes,'' ''expects,'' ''anticipates,'' ''intends,''
''estimates,'' "plans," "continues" or other similar expressions,
the negative of these terms, or other comparable terminology.
Such statements, including the statements relating to the Company's
business outlook, 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 mobile
applications-related services; the Company's ability to
maintain relationships with handset companies, content providers
and payment service providers; its dependence on mobile service
providers and 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
growing smart phone market; its ability to obtain and maintain
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 described in the Company's filings with the
Securities and Exchange Commission, including its annual report on
Form 20-F filed on June 29, 2012. These forward-looking statements
are based on current expectations, assumptions, estimates and
projections about the Company and its 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, measured by revenues in 2010, according to a report
commissioned by the Company and prepared by Analysys International
in July 2011, an independent research and advisory firm. 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.
FINANCIAL TABLES FOLLOW
|
Sky-mobi
Limited |
Unaudited
Consolidated Statements of Comprehensive Income Data
(IFRS) |
|
|
For the three months ended |
|
June 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
|
|
|
|
|
Revenues |
166,031 |
153,355 |
24,139 |
Cost of revenues |
(118,819) |
(116,296) |
(18,306) |
Gross profit |
47,212 |
37,059 |
5,833 |
|
|
|
|
Research and development expenses |
(13,694) |
(20,075) |
(3,160) |
Sales and marketing expenses |
(7,814) |
(8,930) |
(1,406) |
General and administrative expenses |
(20,285) |
(17,270) |
(2,719) |
Other income |
2,703 |
60 |
10 |
Total operating expenses |
(39,090) |
(46,215) |
(7,275) |
Profit (loss) from operations |
8,122 |
(9,156) |
(1,442) |
|
|
|
|
Other gains and losses |
981 |
4,496 |
708 |
Share of results of associates |
(272) |
(281) |
(45) |
Profit (loss) before tax |
8,831 |
(4,941) |
(779) |
Income tax expenses |
(1,333) |
(167) |
(27) |
Profit (loss) for the period |
7,498 |
(5,108) |
(806) |
|
|
|
|
Total comprehensive profit (loss) for the
period |
7,498 |
(5,108) |
(806) |
|
|
|
|
Total comprehensive profit (loss)
attributable to owners of the company |
7,498 |
(5,099) |
(805) |
Non-controlling interests |
-- |
(9) |
(1) |
|
7,498 |
(5,108) |
(806) |
|
|
|
|
Earnings (loss) per common share |
|
|
|
Basic |
0.03 |
(0.02) |
(0.00) |
Diluted |
0.03 |
(0.02) |
(0.00) |
|
|
|
|
Weight average number of ADS |
|
|
|
Basic |
32,173,725 |
32,273,852 |
|
Diluted |
32,541,092 |
32,273,852 |
|
|
|
|
|
Weight average number of shares |
|
|
|
Basic |
257,389,800 |
258,190,818 |
|
Diluted |
260,328,739 |
258,190,818 |
|
|
|
Unaudited
Reconciliations of non-IFRS financial
measures |
to comparable
IFRS financial measures |
|
|
For the three months ended |
|
June 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
|
|
|
|
|
IFRS cost of revenues |
(118,819) |
(116,296) |
(18,306) |
Less: share-based compensation expenses |
842 |
990 |
156 |
Non-IFRS cost of revenues |
(117,977) |
(115,306) |
(18,150) |
|
|
|
|
IFRS gross profit |
47,212 |
37,059 |
5,833 |
Add: share-based compensation expenses |
842 |
990 |
156 |
Non-IFRS gross profit |
48,054 |
38,049 |
5,989 |
|
|
|
|
Total IFRS operating expenses |
(39,090) |
(46,215) |
(7,275) |
Less: share-based compensation expenses |
11,560 |
7,247 |
1,141 |
Total non-IFRS operating expenses |
(27,530) |
(38,968) |
(6,134) |
|
|
|
|
IFRS profit (loss) from operations |
8,122 |
(9,156) |
(1,442) |
Add: share-based compensation expenses |
12,402 |
8,237 |
1,297 |
|
|
|
|
Non-IFRS Profit (loss) from operations |
20,524 |
(919) |
(145) |
|
|
|
|
IFRS Profit (loss) for the period |
7,498 |
(5,108) |
(806) |
Add: share-based compensation expenses |
12,402 |
8,237 |
1,297 |
Non-IFRS net profit for the period |
19,900 |
3,129 |
491 |
|
|
|
|
Non-IFRS earnings per common
share |
|
|
Basic |
0.08 |
0.01 |
0.00 |
Diluted |
0.08 |
0.01 |
0.00 |
|
|
|
|
Weight average number of shares |
|
|
|
Basic |
257,389,800 |
258,190,818 |
|
Diluted |
260,328,739 |
258,190,818 |
|
|
|
Sky-mobi
Limited |
Unaudited
Consolidated Statements of Financial Position
(IFRS) |
|
|
As of |
As of |
|
March 31, |
June 30, |
June 30, |
|
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
|
ASSETS |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
137,538 |
233,184 |
36,705 |
Term deposits |
438,393 |
368,249 |
57,965 |
Trade and other receivables |
103,372 |
89,661 |
14,113 |
Amounts due from related parties |
126 |
127 |
20 |
Total current assets |
679,429 |
691,221 |
108,803 |
|
|
|
|
Non-current assets |
|
|
|
Property and equipment |
32,856 |
28,496 |
4,485 |
Investments in associates |
714 |
3,632 |
572 |
Available-for-sale investments |
900 |
900 |
142 |
Prepayment for investment |
1,100 |
1,500 |
236 |
Other non-current assets |
1,542 |
2,235 |
352 |
Deferred tax assets |
2,210 |
2,210 |
348 |
Total non-current assets |
39,322 |
38,973 |
6,135 |
|
|
|
|
Total assets |
718,751 |
730,194 |
114,938 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Current liabilities |
|
|
|
Trade and other payables |
121,932 |
127,696 |
20,100 |
Income tax liabilities |
5,675 |
2,878 |
453 |
Amounts due to related parties |
871 |
1,232 |
194 |
Deferred revenue |
10,038 |
11,712 |
1,844 |
Total current liabilities |
138,516 |
143,518 |
22,591 |
|
|
|
|
Total liabilities |
138,516 |
143,518 |
22,591 |
|
|
|
|
Equity |
|
|
|
Share capital |
92 |
92 |
14 |
Share premium |
642,495 |
642,635 |
101,155 |
Reserves |
153,526 |
163,651 |
25,760 |
Subscription receivable |
(1,284) |
-- |
-- |
Deficit |
(214,938) |
(220,037) |
(34,635) |
Equity attributable to owners of the
Company |
579,891 |
586,341 |
92,294 |
Non-controlling interests |
344 |
335 |
53 |
Total equity |
580,235 |
586,676 |
92,347 |
Total equity and liabilities |
718,751 |
730,194 |
114,938 |
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: + (86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Elaine Ketchmere, Partner and VP
Phone: +(1) 310-954-1345 (Los Angeles)
Email: elaine.ketchmere@ccgir.com
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