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 third quarter ended December 31, 2012
("third quarter 2013").
Third Quarter 2013
Highlights
- Total revenues decreased 12.2% to RMB146.9 million (US$23.6
million) in third quarter 2013 compared to the fiscal third quarter
ended December 31, 2011 ("third quarter 2012"). Revenues collected
from third party channels (i.e., revenues not collected through
mobile network operators) represented 24.3% of total revenues
- Gross margin was 34.4% in third quarter 2013, up from 31.5% in
third quarter 2012
- Non-IFRS1 gross margin was 34.6% in third quarter 2013, up from
32.0% in third quarter 2012
- Profit from operations was RMB1.5 million (US$0.2 million) in
third quarter 2013, down 40.6% from third quarter 2012
- Non-IFRS profit from operations was RMB6.0 million (US$1.0
million) in third quarter 2013, down 60.2% from third quarter 2012
- Net profit was RMB3.8 million (US$0.6 million) in third quarter
2013, down 39.8% from third quarter 2012
- Non-IFRS net profit was RMB8.3 million (US$1.3 million) in
third quarter 2013, down 55.9% from third quarter 2012
- Basic and diluted earnings per common share ("EPS") were
RMB0.01 (US$0.00). Non-IFRS basic and diluted EPS were RMB0.03
(US$0.01)
- Basic and diluted earnings per ADS2 were RMB0.11 (US$0.02).
Non-IFRS basic and diluted earnings per ADS were RMB0.25
(US$0.04)
1Non-IFRS figures exclude share-based compensation
expenses. Please see "About Non-IFRS Financial Measures" in
this release for more information.
2American Depositary Shares ("ADSs") are traded on the
NASDAQ Global Market, each of which represents eight common shares
of the Company.
Michael Tao Song, Chairman and Chief Executive Officer of
Sky-mobi, stated, "We were pleased that our fiscal third quarter
2013 revenues exceeded the high end of our prior guidance by
approximately 13% and achieved 5.1% sequential growth. Even though
the feature phone market continued to decline as anticipated, we
were encouraged to see the rate of decline stabilizing as well as
strong progress in our efforts to improve the contribution of
revenue from our Maopao Community.
"For the smartphone market, we have made some truly exciting
progress in the past eight months since the launch of our
smartphone product platform. During this time, we have
accumulated over 10 million smartphone users who are utilizing our
smartphone application store, browser, games, game center and PC
assistant on a regular basis. Over the coming quarters we
anticipate this strong growth to continue as we see greater
adoption of low-cost smartphones begin to take hold. Moreover, we
have cemented strategic partnerships with over 160 smartphone
handset partners. These partners are preinstalling our
products, which we expect will further expand our user base and
content offerings. We also anticipate additional growth
through the offline store front from strategic partnership wins
with Suning as well as forming other similar strategic partnerships
covering important distribution points for low cost smartphones.
Given our recent success, we are increasingly confident that we are
implementing the correct strategy for successfully targeting the
Chinese smartphone market."
Carl Yeung, Chief Financial Officer of Sky-mobi, commented, "We
were encouraged by exceeding our revenue guidance, along with our
operating profit, net income and cash flow all being positive.
Despite the year over year decline in revenues, we believe that the
5.1% sequential revenue growth, the improvement in non-IRFS gross
margin and a turnaround in non-IFRS profitability from a net loss
last quarter are trending in the right direction. These sequential
improvements are clearly a testament to our ability to adapt
quickly to the changing mobile Internet market with effective
operating strategies. Moreover, we are very excited that our
revenue composition continues to improve with a new high of 30% of
revenues coming from higher ARPU associated with our Maopao
community, giving us a strong foundation for future expansion in
revenue and margin over the long run. Overall, this quarter's
results demonstrate management's commitment to maintaining a
healthy financial profile while evolving with new initiatives to
stay in front of China's dynamic mobile marketplace."
Financial Results for Third 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".
| |
For the three months ended
December 31, |
| |
2011 |
2012 |
2012 |
| In thousands |
(RMB) |
(RMB) |
(US$) |
| |
|
| Revenues by source: |
|
|
|
| Revenues collected from carrier
channels |
128,401 |
92,088 |
14,782 |
| Revenues collected from third
party channels |
29,509 |
35,741 |
5,737 |
| Other revenues |
9,403 |
19,087 |
3,063 |
| Total revenues |
167,313 |
146,916 |
23,582 |
| |
|
| |
For the three months ended
December 31, |
| |
2011 |
2012 |
2012 |
| In thousands |
(RMB) |
(RMB) |
(US$) |
| |
|
| Revenues by business unit: |
|
|
|
| Application store revenues |
122,429 |
83,448 |
13,395 |
| Maopao Community revenues |
35,481 |
44,381 |
7,124 |
| Other revenues |
9,403 |
19,087 |
3,063 |
| Total revenues |
167,313 |
146,916 |
23,582 |
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 third quarter 2013 decreased 12.2% to
RMB146.9 million (US$23.6 million) from RMB167.3 million in third
quarter 2012.
Revenues collected from carrier channels were RMB92.1 million
(US$14.8 million) in third quarter 2013, representing 62.7% of
total revenues, a decrease of 28.3% from third quarter 2012.
Sky-mobi had 2.2 billion user visits and 599.3 million downloads of
applications and content from the Maopao application store in third
quarter 2013, which was a decrease from 3.6 billion user visits and
718.4 million downloads in third quarter 2012. The decreases in
application store user activity and downloads was primarily due to
the continued decline in the feature phone market as a percentage
of overall mobile device shipments in China.
Revenues collected from third party channels were RMB35.7
million (US$ 5.7 million), up 21.1% from third quarter 2012 and
contributing 24.3% of total revenues in third quarter 2013.
Sky-mobi's Maopao Community had 13.0 million active members and
726.2 million member log-ins during the third quarter 2013,
representing a decrease from 16.9 million active members and 1.1
billion member log-ins in the third quarter 2012. Revenues from the
Maopao Community increased due to higher ARPU on 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.
Other revenues consist of commissions charged from companies for
using Maopao Platform to promote and sell applications ("promotion
income"), and Sky-mobi's overseas revenues collected via its
overseas mobile service providers. Other revenues were RMB19.1
million (US$3.1 million) in third quarter 2013, up from RMB9.4
million in third quarter 2012, primarily due to the Company's
strengthened efforts in developing its promotion service on Maopao
Platform and overseas markets to maintain revenues in feature phone
business.
Cost of Revenues and Gross
Profit
Total cost of revenues for third quarter 2013 decreased 15.8% to
RMB96.4 million (US$15.5 million) compared to RMB114.5 million in
third quarter 2012.
Total non-IFRS cost of revenues for third quarter 2013 decreased
15.5% to RMB96.1 million (US$15.4 million) compared to RMB113.7
million in third quarter 2012.
| |
For the three months ended
December 31, |
| |
2011 |
2012 |
2012 |
| In thousands |
(RMB) |
(RMB) |
(US$) |
| |
|
| Cost of revenues: |
|
|
|
| Costs associated with
payments to industry participants |
104,408 |
85,408 |
13,709 |
| Direct costs |
10,140 |
11,007 |
1,767 |
| Total cost of revenues: |
114,548 |
96,415 |
15,476 |
| Gross Margin |
31.5% |
34.4% |
|
| |
|
| Non-IFRS cost of revenues: |
|
|
|
| Costs associated with payments
to industry participants |
104,408 |
85,408 |
13,709 |
| Direct costs |
9,313 |
10,692 |
1,716 |
| Total non-IFRS cost of revenues: |
113,721 |
96,100 |
15,425 |
| |
|
|
|
| Non-IFRS Gross Margin |
32.0% |
34.6% |
|
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.
Non-IFRS costs associated with payments to industry participants
decreased 18.2% to RMB85.4 million (US$13.7 million) in third
quarter 2013 compared to RMB104.4 million in third quarter 2012,
primarily due to decreased channel costs, which was in line with
the decline in revenues collected from carrier channels, costs
savings on lower revenue sharing percentage from more direct
cooperation with mobile operators and cost controls on purchasing
feature phone mobile content for the Maopao Community.
Approximately RMB10.1 million of accrued costs payable were
reversed into cost of sales in third quarter 2012 while no such
reversal occurred in third 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 14.8% to RMB10.7 million (US$1.7 million) in third
quarter 2013 compared to RMB9.3 million in third quarter 2012. The
increase was primarily due to increased costs in connection with
the Company's strengthened efforts in maintaining revenues in the
feature phone business, as well as developing overseas markets and
other revenues.
Non-IFRS gross profit for third quarter 2013 decreased 5.2% to
RMB50.8 million (US$8.2 million) compared to RMB53.6 million in
third quarter 2012. Non-IFRS gross margin in third quarter 2013 was
34.6%, up from 32.0% in third quarter 2012, mainly due to the
higher contribution of promotion income, which has a higher profit
margin, as well as improved monetization efficiency on channel
payments from mobile operators, and reduced spending on feature
phone mobile contents.
Operating Expenses
Total operating expenses, primarily consisting of employee
salaries and benefits, training expenses, travelling, entertainment
and office related expenses, decreased 2.5% in third quarter 2013
to RMB49.0 million (US$7.9 million) from RMB50.3 million in third
quarter 2012.
Total non-IFRS operating expenses were RMB44.8 million (US$7.2
million) in third quarter 2013, an increase of 16.3% from RMB38.5
million in third quarter 2012.
| |
For the three months ended
December 31, |
| |
2011 |
2012 |
2012 |
| In thousands |
(RMB) |
(RMB) |
(US$) |
| |
|
| Operating expenses: |
|
|
|
| Research and development
expenses |
19,184 |
23,895 |
3,836 |
| Sales and marketing
expenses |
10,433 |
8,913 |
1,431 |
| General and administrative
expenses |
22,237 |
16,691 |
2,680 |
| Other income and expense |
(1,584) |
(480) |
(78) |
| Total operating expenses |
50,270 |
49,019 |
7,869 |
| |
|
|
|
| Non-IFRS operating expenses: |
|
|
|
| Research and development
expenses |
16,584 |
23,068 |
3,703 |
| Sales and marketing
expenses |
9,446 |
8,678 |
1,393 |
| General and administrative
expenses |
14,101 |
13,567 |
2,179 |
| Other income and expense |
(1,584) |
(480) |
(78) |
| Total non-IFRS operating expenses |
38,547 |
44,833 |
7,197 |
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 the
compensation payments related to the Company's organization
restructuring, as well as the Company's increased spending on
research and development for the Android platform/Android
products.
| |
As of December 31, 2011 |
As of September 30, 2012 |
As of December 31, 2012 |
| |
|
|
|
| Headcount |
|
|
|
| Operations |
162 |
122 |
97 |
| Research and development |
355 |
369 |
248 |
| Sales and marketing |
119 |
96 |
85 |
| General and administrative |
87 |
98 |
91 |
| |
|
|
|
| Total Headcount |
723 |
685 |
521 |
The Company's employee headcount decreased 27.9% to 521 as of
December 31, 2012 from 723 as of December 31, 2011. The decrease in
headcount mainly resulted from the Company's organization
restructuring, which rebalanced headcount between our smart phone
and feature phone businesses and reduced resources in the feature
phone sector due to the shrinking feature phone market.
Net profit and
EPS
Net profit in third quarter 2013 was RMB3.8 million (US$0.6
million), down 39.8% compared to third quarter 2012.
Non-IFRS net profit in third quarter 2013 was RMB8.3 million
(US$1.3 million), down 55.9% from RMB18.9 million in third quarter
2012.
Basic and diluted EPS in third quarter 2013 were RMB0.01
(US$0.00), which represents the equivalent of RMB0.11 (US$0.02) per
ADS.
Non-IFRS basic and diluted EPS in third quarter 2013 were
RMB0.03 (US$0.01), which represents the equivalent of RMB0.25
(US$0.04) per ADS.
The weighted average number of ADSs used to calculate basic and
diluted earnings per ADS for third quarter 2013 were
32,273,875.
Common Shares
Sky-mobi had 258.2 million common shares outstanding as of
December 31, 2012, or the equivalents of 32.3 million ADSs
outstanding.
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
December 31, |
|
| In millions |
2011 |
2012 |
% change |
| |
|
|
|
| Application Store |
|
|
|
| User visits |
3,583.3 |
2,243.5 |
-37.4% |
| |
|
|
|
| Single-user application and
content downloads |
|
|
| Single-player games |
304.2 |
252.2 |
-17.1% |
| Multimedia applications and
content titles |
121.7 |
74.0 |
-39.2% |
| Other single-user
applications |
292.5 |
273.1 |
-6.6% |
| Total Single-user application and content
downloads |
718.4 |
599.3 |
16.6% |
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 December
31, |
| In millions |
2011 |
2012 |
% change |
| |
|
|
|
| Number of registered members |
144.1 |
233.9 |
62.3% |
| |
|
|
|
| |
For the three months ended
December 31, |
|
| In millions |
2011 |
2012 |
% change |
| |
|
|
|
| Maopao Community |
|
|
|
| Number of active members |
16.9 |
13.0 |
-23.1% |
| Number of member log-ins |
1,101.5 |
726.2 |
-34.1% |
Business Outlook
For the fiscal fourth quarter 2013 ending March 31, 2013,
Sky-mobi expects total revenues to be in the range of RMB115
million to RMB125 million.
Revenues for the fiscal year ending March 31, 2013 are expected
to be in the range of RMB555 million to RMB565 million, revised
upward from previous outlook of RMB540 million to RMB 560
million.
These are Sky-mobi's current projections, which are subject to
change.
Other Announcements
The Company announced today the promotion of Mr. Wayne Wei Luan
to the position of Vice President, effective immediately. In
his new position, Mr. Luan will be responsible for directing the
Company's strategic investments.
Mr. Luan served as the Company's general manager of investment
and strategy and operations director and products operations
general manager since 2009. Prior to joining the Company, Mr. Luan
served successively as the director of the SK China Internet
business unit, the vice president of InfoMax, Inc., the vice
president of Fone network Info Tech Ltd and a member of the mobile
internet product design and development team at Sohu Inc. Mr.
Luan received his bachelor's degree from Beijing Union University
and is currently an EMBA candidate at Cheung Kong Graduate School
of Business.
The Company also announced the departure of Mr. Walker Yuangang
Wu, Vice President in charge of the Company's channel management,
effective immediately. Mr. Wu is leaving the Company to
establish a mobile internet technology company that focuses on
mobile games, a joint venture formed by the Company and Mr. Wu.
The Company announced today that one of its independent
directors, Mr. Fan Bao, will be stepping down from his role to
focus on his core business. The Company's board of directors
has initiated a search process for a new independent director with
the requisite experience and qualifications to replace Mr. Fan
Bao. The search process will be overseen for the Company by a
newly formed search committee of the board.
Conference Call and Webcast
The Company will hold a conference call on Monday, February 4,
2013 at 8:00 am Eastern Time, or 9:00 pm Beijing Time to discuss
the financial results. Listeners may access the call by dialing the
following numbers:
| United States: |
+1-646-254-3515 |
| International Toll Free: |
+1-855-500-8701 |
| China Domestic: |
400-1200654 |
| Hong Kong: |
+852-3051-2745 |
| Conference ID: |
# 92236425 |
The replay will be accessible through February 11, 2013 by
dialing the following numbers:
| United States Toll Free: |
+1-855-452-5696 |
| International: |
+61-2-8199-0299 |
| Conference ID: |
# 92236425 |
A webcast of the conference call will be available on the
Company's investor relation website at http://ir.sky-mobi.com.
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
RMB6.2301 to US$1.00, the exchange rate at December 31, 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
December 31, |
For the nine months ended
December 31, |
| |
2011 |
2012 |
2012 |
2011 |
2012 |
2012 |
| In thousands |
(RMB) |
(RMB) |
(US$) |
(RMB) |
(RMB) |
(US$) |
| (Except for share and per share data) |
|
|
|
|
|
|
| Revenues |
167,313 |
146,916 |
23,582 |
506,527 |
440,102 |
70,642 |
| Cost of revenues |
(114,548) |
(96,415) |
(15,476) |
(348,551) |
(318,162) |
(51,069) |
| Gross profit |
52,765 |
50,501 |
8,106 |
157,976 |
121,940 |
19,573 |
| |
|
|
|
|
|
|
| Research and development expenses |
(19,184) |
(23,895) |
(3,836) |
(50,885) |
(66,978) |
(10,751) |
| Sales and marketing expenses |
(10,433) |
(8,913) |
(1,431) |
(29,446) |
(26,185) |
(4,203) |
| General and administrative expenses |
(22,237) |
(16,691) |
(2,680) |
(64,719) |
(52,224) |
(8,383) |
| Other income and expense |
1,584 |
480 |
78 |
3,854 |
497 |
80 |
| Total operating expenses |
(50,270) |
(49,019) |
(7,869) |
(141,196) |
(144,890) |
(23,257) |
| Profit (loss) from operations |
2,495 |
1,482 |
237 |
16,780 |
(22,950) |
(3,684) |
| |
|
|
|
|
|
|
| Other gains and losses |
5,066 |
3,117 |
501 |
7,666 |
11,835 |
1,900 |
| Share of results of associates |
(275) |
(650) |
(105) |
(735) |
(1,429) |
(230) |
| Profit (loss) before tax |
7,286 |
3,949 |
633 |
23,711 |
(12,544) |
(2,014) |
| Income tax expenses |
(924) |
(116) |
(19) |
(2,775) |
(391) |
(63) |
| Profit (loss) for the period |
6,362 |
3,833 |
614 |
20,936 |
(12,935) |
(2,077) |
| |
|
|
|
|
|
|
| Total comprehensive profit (loss) for the
period |
6,362 |
3,833 |
614 |
20,936 |
(12,935) |
(2,077) |
| |
|
|
|
|
|
|
| Profit (loss) and total comprehensive income
(expense) attributable to: - Owners of the
Company |
6,389 |
3,747 |
600 |
20,966 |
(13,120) |
(2,107) |
| - Non-controlling interests |
(27) |
86 |
14 |
(30) |
185 |
30 |
| |
6,362 |
3,833 |
614 |
20,936 |
(12,935) |
(2,077) |
| |
|
|
|
|
|
|
| Earnings (loss) per common share |
|
|
|
|
|
|
| Basic |
0.02 |
0.01 |
0.00 |
0.08 |
(0.05) |
(0.01) |
| Diluted |
0.02 |
0.01 |
0.00 |
0.08 |
(0.05) |
(0.01) |
| |
|
|
|
|
|
|
| Weight average number of ADS |
|
|
|
|
|
|
| Basic |
32,173,725 |
32,273,875 |
|
32,173,725 |
32,273,860 |
|
| Diluted |
32,173,725 |
32,273,875 |
|
32,329,210 |
32,273,860 |
|
| |
|
|
|
|
|
|
| Weight average number of shares |
|
|
|
|
|
|
| Basic |
257,389,800 |
258,191,000 |
|
257,389,800 |
258,190,881 |
|
| Diluted |
257,389,800 |
258,191,000 |
|
258,633,677 |
258,190,881 |
|
| |
| Unaudited
Reconciliations of non-IFRS financial
measures |
| to comparable
IFRS financial measures |
| |
| |
For the three months ended
December 31, |
For the nine months ended
December 31, |
| |
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 |
(114,548) |
(96,415) |
(15,476) |
(348,551) |
(318,162) |
(51,069) |
| Less: share-based compensation expenses |
827 |
315 |
51 |
2,510 |
2,261 |
363 |
| Non-IFRS cost of revenues |
(113,721) |
(96,100) |
(15,425) |
(346,041) |
(315,901) |
(50,706) |
| |
|
|
|
|
|
|
| IFRS gross profit |
52,765 |
50,501 |
8,106 |
157,976 |
121,940 |
19,573 |
| Add: share-based compensation expenses |
827 |
315 |
51 |
2,510 |
2,261 |
363 |
| Non-IFRS gross profit |
53,592 |
50,816 |
8,157 |
160,486 |
124,201 |
19,936 |
| |
|
|
|
|
|
|
| Total IFRS operating expenses |
(50,270) |
(49,019) |
(7,869) |
(141,196) |
(144,890) |
(23,257) |
| Less: share-based compensation expenses |
11,723 |
4,186 |
672 |
35,152 |
18,503 |
2,970 |
| Total non-IFRS operating expenses |
(38,547) |
(44,833) |
(7,197) |
(106,044) |
(126,387) |
(20,287) |
| |
|
|
|
|
|
|
| IFRS profit (loss) from operations |
2,495 |
1,482 |
237 |
16,780 |
(22,950) |
(3,684) |
| Add: share-based compensation expenses |
12,550 |
4,501 |
723 |
37,662 |
20,764 |
3,333 |
| |
|
|
|
|
|
|
| Non-IFRS profit (loss) from operations |
15,045 |
5,983 |
960 |
54,442 |
(2,186) |
(351) |
| |
|
|
|
|
|
|
| IFRS profit (loss) for the period |
6,362 |
3,833 |
614 |
20,936 |
(12,935) |
(2,077) |
| Add: share-based compensation expenses |
12,550 |
4,501 |
723 |
37,662 |
20,764 |
3,333 |
| Non-IFRS net profit for the period |
18,912 |
8,334 |
1,337 |
58,598 |
7,829 |
1,256 |
| |
|
|
|
|
|
|
| Non-IFRS earnings per common share |
|
|
|
|
|
|
| Basic |
0.07 |
0.03 |
0.01 |
0.23 |
0.03 |
0.00 |
| Diluted |
0.07 |
0.03 |
0.01 |
0.23 |
0.03 |
0.00 |
| |
|
|
|
|
|
|
| Weight average number of shares |
|
|
|
|
|
|
| Basic |
257,389,800 |
258,191,000 |
|
257,389,800 |
258,190,881 |
|
| Diluted |
257,389,800 |
258,191,000 |
|
258,633,677 |
258,190,881 |
|
| |
|
|
|
| Sky-mobi
Limited |
| Unaudited Consolidated
Statements of Financial Position (IFRS) |
| |
|
|
|
| |
As of |
As of |
| |
September 30, |
December 31, |
December 31, |
| |
2012 |
2012 |
| In thousands |
(RMB) |
(RMB) |
(US$) |
| |
|
|
|
| ASSETS |
|
|
|
| Current assets |
|
|
|
| Cash and cash equivalents |
75,549 |
40,952 |
6,516 |
| Term deposits |
521,410 |
563,482 |
89,658 |
| Trade and other receivables |
81,356 |
75,929 |
12,081 |
| Amounts due from related parties |
4,127 |
1,126 |
179 |
| Total current assets |
682,442 |
681,489 |
108,434 |
| |
|
|
|
| Non-current assets |
|
|
|
| Property and equipment |
23,769 |
20,116 |
3,201 |
| Investments in associates |
7,135 |
13,609 |
2,165 |
| Available-for-sale investments |
900 |
7,195 |
1,145 |
| Prepayment for investment |
1,125 |
-- |
-- |
| Other non-current assets |
2,444 |
3,490 |
555 |
| Deferred tax assets |
2,210 |
2,210 |
352 |
| Total non-current assets |
37,583 |
46,620 |
7,418 |
| |
|
|
|
| Total assets |
720,025 |
728,109 |
115,852 |
| |
|
|
|
| EQUITY AND LIABILITIES |
|
|
|
| Current liabilities |
|
|
|
| Trade and other payables |
126,375 |
137,431 |
21,867 |
| Income tax liabilities |
2,688 |
2,889 |
460 |
| Amounts due to related parties |
1,113 |
956 |
152 |
| Deferred revenue |
12,353 |
10,127 |
1,611 |
| Total current liabilities |
142,529 |
151,403 |
24,090 |
| |
|
|
|
| Total liabilities |
142,529 |
151,403 |
24,090 |
| |
|
|
|
| Equity |
|
|
|
| Share capital |
92 |
92 |
15 |
| Share premium |
637,090 |
626,498 |
99,685 |
| Reserves |
171,677 |
176,178 |
28,032 |
| Treasury stock |
(1) |
(3) |
(0) |
| Deficit |
(231,805) |
(228,058) |
(36,287) |
| Equity attributable to owners of the
Company |
577,053 |
574,707 |
91,445 |
| Non-controlling interests |
443 |
1,999 |
317 |
| Total equity |
577,496 |
576,706 |
91,762 |
| Total equity and liabilities |
720,025 |
728,109 |
115,852 |
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: + (86) 571-87770978 (China)
Email: investor.relations@sky-mobi.com
ICR Inc
Jeremy Peruski, Senior Vice President
Phone: + (1) (646) -915-1615 (US)
Email: investor.relations@sky-mobi.com
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