Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a
leading mobile application store and mobile social network
community operator in China, today announced unaudited financial
results for the fiscal second quarter ended September 30, 2012
("second quarter 2013").
Second Quarter 2013
Highlights
- Total revenues decreased 19.3% to RMB139.8 million (US$22.3
million) in second quarter 2013 compared to the fiscal second
quarter ended September 30, 2011 ("second quarter 2012"). Revenues
collected from third party channels (i.e., revenues not collected
through mobile network operators) represented 26.3% of total
revenues
- Loss from operations was RMB15.3 million (US$2.4 million) in
second quarter 2013, compared to profit from operations of RMB6.2
million in second quarter 2012
- Non-IFRS1 loss from operations was RMB7.3 million (US$1.2
million) in second quarter 2013, compared to non-IFRS profit from
operations of RMB18.9 million in second quarter 2012
- Net loss was RMB11.7 million (US$1.9 million) in second quarter
2013, compared to a net profit of RMB7.1 million in second quarter
2012
- Non-IFRS net loss was RMB3.6 million (US$0.6 million) in second
quarter 2013, compared to non-IFRS net profit of RMB19.8 million in
second quarter 2012
- Basic and diluted loss per common share were RMB0.04 (US$0.01).
Non-IFRS basic and diluted loss per common share ("EPS") were
RMB0.01 (US$0.00)
- Basic and diluted loss per ADS2 were RMB0.36 (US$0.06).
Non-IFRS basic and diluted loss per ADS were RMB0.11 (US$0.02)
- Revenues collected from carrier channels decreased 30.9% to
RMB99.4 million (US$15.8 million) in second quarter 2013 from
second quarter 2012. Sky-mobi's application store experienced 3.1
billion user visits with 657.2 million downloads in second quarter
2013
- Revenues collected from third party channels increased 39.8% to
RMB36.8 million (US$5.9 million) in second quarter 2013 from second
quarter 2012. Sky-mobi had 15.0 million active members of the
Maopao Community with 778.4 million member log-ins in second
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, stated, "We are pleased
that the quarter's results came within guidance due to more
effective monetization of user traffic despite unfavorable industry
trends. The feature phone market which traditionally constitutes
our main source of revenues, continues to be succeeded by smart
phones at an accelerating pace. While we cannot reverse this macro
trend, we will continue our efforts to maximize revenue and
cash-flow generation from the feature phone market. At the same
time, we have made rapid progress in the smart phone market in
terms of user adoption and customer wins. As of the date of this
release, three million smart phone users have begun using our
products during the five-month period since launch. Our strategy to
pre-install for manufacturers of smart phones has made excellent
progress with currently 78 partners. Our offline strategy, such as
installing our platform for free into end users' phones at the
point of sale in physical locations such as in mobile phone retail
stores and computer marts, has also shown good progress and we
expect to close several significant partnerships shortly. These
partnerships will provide Sky-mobi with strategic physical store
locations to cost effectively deploy our services to the large
population of Chinese smart phone users in order to access
applications," concluded Mr. Song.
Commenting on the Company's results, Carl Yeung, Chief Financial
Officer of Sky-mobi, said, "Despite the unfavorable macro decline
in the feature phone market, our strategy to increase our focus on
third-party, non-carrier payments and direct traffic towards
community game spending, where the average revenue per user (ARPU)
is higher, has been successful and driven higher monetization
of user traffic. Continuing last quarter's trend, we have made
further efforts to shift internal resources towards the smart-phone
market, although we did not generate material revenue from smart
phones during the quarter. As of the end of September, 80% of our
employees were pursuing smart-phone opportunities, up from 60% in
the June quarter. As the general market for smart-phone products
and services remains at an early stage of development in China, our
financial strategy is to invest responsibility in smart phones. Our
aim is to remain cash flow neutral to positive by using cash
proceeds generated from our feature phone business to support the
growth and development of smart phones," concluded Mr. Yeung.
Financial Results for Second 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"
consist of commissions charged from mobile service providers and
mobile network operators' for using Maopao Platform to promote and
sell applications, and Sky-mobi's overseas revenues collected via
its overseas mobile service providers. Since "Other Revenues" are
only a minimal portion of Sky-mobi's total revenues, the discussion
and analysis of "Revenue by Source" below does not analyze "Other
revenues".
|
|
|
For the three months ended |
|
September 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
|
|
Revenues by source: |
|
|
|
Revenues collected from carrier
channels |
143,735 |
99,360 |
15,810 |
Revenues collected from third
party channels |
26,341 |
36,826 |
5,860 |
Other revenues |
3,107 |
3,645 |
580 |
Total revenues |
173,183 |
139,831 |
22,250 |
|
|
|
For the three months ended |
|
September 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Revenues by business unit: |
|
|
|
Application store revenues |
138,927 |
98,418 |
15,660 |
Maopao Community revenues |
31,149 |
37,768 |
6,010 |
Other revenues |
3,107 |
3,645 |
580 |
Total revenues |
173,183 |
139,831 |
22,250 |
The discussion and analysis below focuses 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 second quarter 2013 decreased 19.3% to
RMB139.8million (US$22.3million) from RMB173.2 million in second
quarter 2012.
Revenues collected from carrier channels of RMB99.4 million
(US$15.8 million) in second quarter 2013, representing 71.1% of
total revenues, decreased 30.9% from second quarter 2012. Sky-mobi
had 3.1 billion user visits and 657.2 million downloads of
applications and content from the Maopao application store in
second quarter 2013, decreases of 37.8% and 22.2%, respectively,
compared to 4.9 billion user visits and 845.2 million downloads in
second quarter 2012. The decreases in application store user
activity and downloads was primarily due to the continued decline
of feature phone market share as a percentage of overall mobile
device shipments in China.
Revenues collected from third party channels were RMB36.8
million (US$ 5.9 million), up 39.8% from second quarter 2012 and
contributing 26.3% of total revenues in second quarter 2013.
Sky-mobi's Maopao Community had 15.0 million active members and
778.4 million member log-ins in second quarter 2013, representing
decreases of 10.3% and 46.0%, respectively, compared to 16.7
million active members and 1.4 billion member log-ins in second
quarter 2012. Revenues from the Maopao Community increased due to
higher spending per active member deriving 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 a steady and 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 second quarter 2013 decreased 8.5% to
RMB105.5 million (US$16.8 million) compared to RMB115.2 million in
second quarter 2012.
Total non-IFRS cost of revenues for second quarter 2013
decreased 8.6% to RMB104.5 million (US$16.6 million) compared to
RMB114.3million in second quarter 2012.
|
|
|
For the three months ended |
|
September 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Cost of revenues: |
|
|
|
Costs associated with payments
to industry participants |
105,169 |
93,909 |
14,942 |
Direct costs |
10,015 |
11,542 |
1,837 |
Total cost of revenues: |
115,184 |
105,451 |
16,779 |
Gross Margin |
33.5% |
24.6% |
|
|
|
Non-IFRS cost of revenues: |
|
|
|
Costs associated with payments
to industry participants |
105,169 |
93,909 |
14,942 |
Direct costs |
9,174 |
10,586 |
1,685 |
Total non-IFRS cost of revenues: |
114,343 |
104,495 |
16,627 |
|
|
|
|
Non-IFRS Gross Margin |
34.0% |
25.3% |
|
Non-IFRS cost of revenues is defined as cost of revenues
excluding share-based compensation expenses. The discussion and
analysis below focuses 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 10.7% to RMB93.9 million (US$14.9 million) in second
quarter 2013 compared to RMB105.2 million in second quarter 2012,
primarily due to 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 higher quality
mobile content to realize improved customer retention in the Maopao
Community. Approximately RMB9.0 million of accrued costs payable
were reversed into cost of sales in second quarter 2012 while no
such reversal occurred in second 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 the Maopao application store and the Maopao Community
increased 15.4% to RMB10.6 million (US$1.7 million) in second
quarter 2013 compared to RMB9.2 million in second quarter 2012. The
increase was primarily due to increased costs in connection with
greater efforts to maintain proactive operations in the feature
phone business, as well as developing overseas markets and other
revenues.
Gross profit for second quarter 2013 decreased 40.7% to RMB34.4
million (US$5.5 million) compared to RMB58.0 million in second
quarter 2012. Non-IFRS gross margin in second quarter 2013 was
25.3%, down from 34.0% in second quarter 2012, mainly due to the
increased revenue share percentage with mobile service providers
and handset manufacturers, higher costs involved in obtaining
better quality mobile contents.
Operating Expenses (representing research and
development expenses, sales and
marketing expenses, general and
administrative expenses and other income and
expense)
Total operating expenses, primarily consisting of employee
salaries and benefits, training expenses, travelling, entertainment
and office related expenses, decreased 4.2% in second quarter 2013
to RMB49.7 million (US$7.9 million) from RMB51.8 million in second
quarter 2012.
Total non-IFRS operating expenses were RMB42.6 million (US$6.8
million) in second quarter 2013, an increase of 6.6% from RMB40.0
million in second quarter 2012.
|
|
|
For the three months
ended |
|
September 30, |
|
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Operating expenses: |
|
|
|
Research and development
expenses |
18,007 |
23,008 |
3,661 |
Sales and marketing
expenses |
11,199 |
8,342 |
1,327 |
General and administrative
expenses |
22,197 |
18,263 |
2,906 |
Other income and expense |
433 |
43 |
7 |
Total operating expenses |
51,836 |
49,656 |
7,901 |
|
|
|
|
Non-IFRS operating expenses: |
|
|
|
Research and development
expenses |
15,348 |
20,769 |
3,305 |
Sales and marketing
expenses |
10,195 |
7,518 |
1,196 |
General and administrative
expenses |
13,991 |
14,256 |
2,268 |
Other income and expense |
433 |
43 |
7 |
Total non-IFRS operating expenses |
39,967 |
42,586 |
6,776 |
Non-IFRS operating expenses are defined as operating expenses
excluding share-based compensation expense. The discussion and
analysis below focuses on non-IFRS operating expenses, which the
Company believes are more useful to investors to understand the
Company's operating activities than IFRS operating expenses.
The increase in operating expenses was primarily due to an
increase in headcount, as described below, the Company's focus on
research and development of the Android platform/Android products
to participate in the competitive smart phone market, and the
sustainable business development of the Maopao Community.
|
|
|
As of September 30, |
|
2011 |
2012 |
% change |
|
|
|
|
Headcount |
|
|
|
Operations |
148 |
122 |
-17.6% |
Research and development |
330 |
369 |
11.8% |
Sales and marketing |
111 |
96 |
-13.5% |
General and administrative |
82 |
98 |
19.5% |
|
|
|
|
Total Headcount |
671 |
685 |
2.1% |
The Company's employee headcount increased 2.1% to 685 as of
September 30, 2012 from 671 as of September 30, 2011. The increase
in headcount was mainly due to our business strategy to expand the
Maopao Community, as well as higher staffing levels in connection
with Android platform/Android product development.
Net profit and
EPS
Net loss in second quarter 2013 was RMB11.7 million (US$1.9
million), compared to net profit of RMB7.1 million in second
quarter 2012.
Non-IFRS net loss in second quarter 2013 was RMB3.6 million
(US$0.6 million), compared to non- IFRS net profit of RMB19.8
million in second quarter 2012.
Basic and diluted loss per share in second quarter 2013 were
RMB0.04 (US$0.01) and basic and diluted loss per ADS were RMB0.36
(US$0.06).
Non-IFRS basic and diluted loss per share in second quarter 2013
were RMB0.01 (US$0.00), and non-IFRS basic and diluted loss per ADS
were RMB0.11 (US$0.02).
The weighted average number of ADSs used to calculate basic and
diluted earnings per ADS for second quarter 2013 were
32,273,875.
Each ADS represents eight common shares.
Common Shares
Sky-mobi had 258,191,000 common shares outstanding as of
September 30, 2012 and 257,389,800 common shares outstanding as of
September 30, 2011.
Other Operating Data
The following table sets forth total user downloads of our
single-user applications and content titles for the periods
indicated:
|
|
|
|
For the three months
ended |
|
|
September 30 |
|
In millions |
2011 |
2012 |
% change |
|
|
|
|
Application Store |
|
|
|
User visits |
4,930.1 |
3,066.3 |
-37.8% |
|
|
|
|
Single-user application and
content downloads |
|
|
Single-player games |
323.2 |
245.3 |
-24.1% |
Multimedia applications and
content titles |
132.4 |
91.6 |
-30.8% |
Other single-user
applications |
389.6 |
320.3 |
-17.8% |
Total Single-user application and content
downloads |
845.2 |
657.2 |
-22.2% |
The following table sets forth the number of registered, active
members and member log-ins in our Maopao Community as of the dates
indicated:
|
|
|
|
As of September 30, |
|
In millions |
2011 |
2012 |
% change |
|
|
|
|
Number of registered members |
118.9 |
215.3 |
81.1% |
|
|
|
|
|
For the three months ended |
|
|
September 30, |
|
In millions |
2011 |
2012 |
% change |
|
|
|
|
Maopao Community |
|
|
|
Number of active members |
16.7 |
15.0 |
-10.3% |
Number of member log-ins |
1440.4 |
778.4 |
-46.0% |
Business Outlook
For the fiscal third quarter 2013 ending December 31, 2012,
Sky-mobi expects total revenues to be in the range of
RMB 120 million to RMB 130 million.
These are Sky-mobi's current projections, which are subject to
change. Investors are cautioned that operating results in second
quarter 2013 are not necessarily indicative of operating results
for any future periods.
Conference Call and Webcast
Sky-mobi's management team will host a conference call on
November 12, 2012 at 8:00 AM EST, (or 5:00 AM U.S. Pacific Standard
Time and 9:00 PM, 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: 58769673 |
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: 58769673 |
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 (loss) from operations is
defined as Non-IFRS gross profit (loss) less non-IFRS operating
expenses.
Non-IFRS net
profit (loss) is defined as
non-IFRS profit (loss) from operations plus/minus other gains
or losses, less share of results of associates and income tax.
Non-IFRS basic and diluted
earnings(loss) per common
share/ADS are defined as non-IFRS net profit
(loss)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
RMB6.2848 to US$1.00, the exchange rate at September 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 revenue
projections for future periods; 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.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
FINANCIAL TABLES FOLLOW
|
Sky-mobi
Limited |
Unaudited
Consolidated Statements of Comprehensive Income
(IFRS) |
|
|
For the three months ended |
For the six months ended |
|
September 30, |
September 30, |
|
2011 |
2012 |
2012 |
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
173,183 |
139,831 |
22,250 |
339,214 |
293,186 |
46,651 |
Cost of revenues |
(115,184) |
(105,451) |
(16,779) |
(234,003) |
(221,747) |
(35,284) |
Gross profit |
57,999 |
34,380 |
5,471 |
105,211 |
71,439 |
11,367 |
|
|
|
|
|
|
|
Research and development expenses |
(18,007) |
(23,008) |
(3,661) |
(31,701) |
(43,083) |
(6,856) |
Sales and marketing expenses |
(11,199) |
(8,342) |
(1,327) |
(19,013) |
(17,272) |
(2,749) |
General and administrative expenses |
(22,197) |
(18,263) |
(2,906) |
(42,482) |
(35,533) |
(5,654) |
Other income and expense |
(433) |
(43) |
(7) |
2,270 |
17 |
3 |
Total operating expenses |
(51,836) |
(49,656) |
(7,901) |
(90,926) |
(95,871) |
(15,256) |
Profit (loss) from operations |
6,163 |
(15,276) |
(2,430) |
14,285 |
(24,432) |
(3,889) |
|
|
|
|
|
|
|
Other gains and losses |
1,619 |
4,222 |
672 |
2,600 |
8,718 |
1,388 |
Share of results of associates |
(188) |
(498) |
(80) |
(460) |
(779) |
(124) |
Profit (loss) before tax |
7,594 |
(11,552) |
(1,838) |
16,425 |
(16,493) |
(2,625) |
Income tax expenses |
(518) |
(108) |
(18) |
(1,851) |
(275) |
(44) |
Profit (loss) for the period |
7,076 |
(11,660) |
(1,856) |
14,574 |
(16,768) |
(2,669) |
|
|
|
|
|
|
|
Total comprehensive profit (loss) for the
period |
7,076 |
(11,660) |
(1,856) |
14,574 |
(16,768) |
(2,669) |
|
|
|
|
|
|
|
Total comprehensive profit (loss)
attributable to owners of the company |
7,079 |
(11,768) |
(1,873) |
14,577 |
(16,867) |
(2,685) |
Non-controlling interests |
(3) |
108 |
17 |
(3) |
99 |
16 |
|
7,076 |
(11,660) |
(1,856) |
14,574 |
(16,768) |
(2,669) |
|
|
|
|
|
|
|
Earnings (loss) per common share |
|
|
|
|
|
|
Basic |
0.03 |
(0.04) |
(0.01) |
0.06 |
(0.06) |
(0.01) |
Diluted |
0.03 |
(0.04) |
(0.01) |
0.06 |
(0.06) |
(0.01) |
|
|
|
|
|
|
|
Weighted average number of ADS |
|
|
|
|
|
|
Basic |
32,173,725 |
32,273,875 |
|
32,173,725 |
32,273,853 |
|
Diluted |
32,212,057 |
32,273,875 |
|
32,395,929 |
32,273,853 |
|
|
|
|
|
|
|
|
Weighted average number of shares |
|
|
|
|
|
|
Basic |
257,389,800 |
258,191,000 |
|
257,389,800 |
258,190,821 |
|
Diluted |
257,696,452 |
258,191,000 |
|
259,167,431 |
258,190,821 |
|
|
|
Unaudited
Reconciliations of non-IFRS financial measures |
to comparable IFRS
financial measures |
|
|
|
|
|
|
|
|
For the three months ended |
For the six months ended |
|
September 30, |
September 30, |
|
2011 |
2012 |
2012 |
2011 |
2012 |
2012 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
IFRS cost of revenues |
(115,184) |
(105,451) |
(16,779) |
(234,003) |
(221,747) |
(35,284) |
Less: share-based compensation expenses |
841 |
956 |
152 |
1,683 |
1,946 |
310 |
Non-IFRS cost of revenues |
(114,343) |
(104,495) |
(16,627) |
(232,320) |
(219,801) |
(34,974) |
|
|
|
|
|
|
|
IFRS gross profit |
57,999 |
34,380 |
5,471 |
105,211 |
71,439 |
11,367 |
Add: share-based compensation expenses |
841 |
956 |
152 |
1,683 |
1,946 |
310 |
Non-IFRS gross profit |
58,840 |
35,336 |
5,623 |
106,894 |
73,385 |
11,677 |
|
|
|
|
|
|
|
Total IFRS operating expenses |
(51,836) |
(49,656) |
(7,901) |
(90,926) |
(95,871) |
(15,256) |
Less: share-based compensation expenses |
11,869 |
7,070 |
1,125 |
23,429 |
14,317 |
2,278 |
Total non-IFRS operating expenses |
(39,967) |
(42,586) |
(6,776) |
(67,497) |
(81,554) |
(12,978) |
|
|
|
|
|
|
|
IFRS profit (loss) from operations |
6,163 |
(15,276) |
(2,430) |
14,285 |
(24,432) |
(3,889) |
Add: share-based compensation expenses |
12,710 |
8,026 |
1,277 |
25,112 |
16,263 |
2,588 |
|
|
|
|
|
|
|
Non-IFRS profit (loss) from operations |
18,873 |
(7,250) |
(1,153) |
39,397 |
(8,169) |
(1,301) |
|
|
|
|
|
|
|
IFRS profit (loss) for the period |
7,076 |
(11,660) |
(1,856) |
14,574 |
(16,768) |
(2,669) |
Add: share-based compensation expenses |
12,710 |
8,026 |
1,277 |
25,112 |
16,263 |
2,588 |
Non-IFRS net profit (loss) for the
period |
19,786 |
(3,634) |
(579) |
39,686 |
(505) |
(81) |
|
|
|
|
|
|
|
Non-IFRS earnings (loss) per common
share |
|
|
|
|
|
|
Basic |
0.08 |
(0.01) |
(0.00) |
0.15 |
(0.00) |
(0.00) |
Diluted |
0.08 |
(0.01) |
(0.00) |
0.15 |
(0.00) |
(0.00) |
|
|
|
|
|
|
|
Weighted average number of shares |
|
|
|
|
|
|
Basic |
257,389,800 |
258,191,000 |
|
257,389,800 |
258,190,821 |
|
Diluted |
257,696,452 |
258,191,000 |
|
259,167,431 |
258,190,821 |
|
|
|
Sky-mobi
Limited |
Unaudited Consolidated
Statements of Financial Position (IFRS) |
|
|
|
|
|
As of |
As of |
|
June 30, |
September 30, |
September 30, |
|
2012 |
2012 |
|
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
|
|
ASSETS |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
233,184 |
75,549 |
12,021 |
Term deposits |
368,249 |
521,410 |
82,964 |
Trade and other receivables |
89,661 |
81,356 |
12,945 |
Amounts due from related parties |
127 |
4,127 |
657 |
Total current assets |
691,221 |
682,442 |
108,587 |
|
|
|
|
Non-current assets |
|
|
|
Property and equipment |
28,496 |
23,769 |
3,782 |
Investments in associates |
3,632 |
7,135 |
1,135 |
Available-for-sale investments |
900 |
900 |
143 |
Prepayment for investment |
1,500 |
1,125 |
179 |
Other non-current assets |
2,235 |
2,444 |
389 |
Deferred tax assets |
2,210 |
2,210 |
352 |
Total non-current assets |
38,973 |
37,583 |
5,980 |
|
|
|
|
Total assets |
730,194 |
720,025 |
114,567 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Current liabilities |
|
|
|
Trade and other payables |
127,696 |
126,375 |
20,108 |
Income tax liabilities |
2,878 |
2,688 |
428 |
Amounts due to related parties |
1,232 |
1,113 |
177 |
Deferred revenue |
11,712 |
12,353 |
1,966 |
Total current liabilities |
143,518 |
142,529 |
22,679 |
|
|
|
|
Total liabilities |
143,518 |
142,529 |
22,679 |
|
|
|
|
Equity |
|
|
|
Share capital |
92 |
92 |
15 |
Share premium |
642,635 |
637,090 |
101,370 |
Reserves |
163,651 |
171,677 |
27,316 |
Treasury stock |
-- |
(1) |
-- |
Deficit |
(220,037) |
(231,805) |
(36,883) |
Equity attributable to owners of the
Company |
586,341 |
577,053 |
91,818 |
Non-controlling interests |
335 |
443 |
70 |
Total equity |
586,676 |
577,496 |
91,888 |
Total equity and liabilities |
730,194 |
720,025 |
114,567 |
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: + (86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Crocker Coulson, President
Phone: + (1) (646) 213-1915 (New York)
Email: crocker.coulson@ccgir.com
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