Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a
leading mobile application store in China, today announced
unaudited financial results for the fiscal first quarter ended June
30, 2013 ("first quarter 2014").
First Quarter 2014
Highlights
- Total revenues decreased 18.3% to RMB125.2 million (US$20.4
million) compared to RMB153.4 million in the fiscal first quarter
ended June 30, 2012 ("first quarter 2013"). Revenues from
smartphones represented 14.7% of total revenues
- Gross margin increased to 27.4%, up from 24.2% in first quarter
2013
- Non-IFRS1 gross margin increased to 27.4%, up from 24.8% in
first quarter 2013
- Loss from operations decreased to RMB3.8 million (US$0.6
million), compared to loss from operations of RMB9.2 million in
first quarter 2013
- Non-IFRS profit from operations increased to RMB3.3 million
(US$0.5 million), compared to non-IFRS loss from operations of
RMB0.9 million in first quarter 2013
- Net loss decreased to RMB0.3 million (US$0.1 million), compared
to net loss of RMB5.1 million in first quarter 2013
- Non-IFRS net profit increased 116.0% to RMB6.8 million (US$1.1
million) from RMB3.1 million in first quarter 2013
- Basic and diluted loss per common share was RMB0.00 (US$0.00),
which represents the equivalent of RMB0.01 (US$0.00) per ADS2
- Non-IFRS basic and diluted earnings per common share ("EPS")
were RMB0.02 (US$0.00), which represents the equivalent of RMB0.12
(US$0.02) per ADS
Michael Tao Song, Chairman and Chief Executive Officer of
Sky-mobi, stated, "We were pleased that our fiscal first quarter
2014 revenues exceeded consensus estimates and the high end of our
prior guidance by approximately 8.9% due to stronger than expected
growth in our smartphone business. In the first quarter of
monetizing our smartphone business, we have already generated over
RMB18.5 million in revenues from our smartphone business, or 14.7%
of total revenues, demonstrating the strong monetization potential
of our large installed user base and utilizing our application
store on more economically priced
smartphones."
"This initial success in smartphone monetization was driven by
expanding our smartphones penetration through pre-installations
with manufacturers, as well as increasing in the number of physical
stores where we service phones directly. As a result, our channels
are currently contributing 300,000 new users per day, up from
140,000 per day three months ago. We now have over 40 million
users of our application store, more than double from last
quarter. Our pre-installation channels have become one of our
key competitive advantages in growing our smartphone business,
which not only provides immediate access to new users through
pre-installations, but also continues to serve as a significant
barrier-to-entry for our competitors in the low end smartphone
segment. We expect continued strong growth in the adoption of
low-end smartphones throughout China as users stand to benefit from
the transformational capabilities these devices can bring
to users."
Carl Yeung, Chief Financial Officer of Sky-mobi, commented, "We
were pleased with our strong top line and bottom line performance
as we continue to penetrate the smartphone market. Due to
conservative financial controls in addressing the declining feature
phone market and prudent resource allocation in developing our
smartphone platform, we continued to maintain positive cashflow,
growing our cash and deposits for the sixth consecutive quarter to
RMB614 million."
"Although gross margin and Non-IFRS gross margin decreased from
previous quarters due to current revenue sharing agreements with
our smartphone handset partners, we expect it to recover as we
begin to monetize our light game platform and mobile online games
in future. Our strategic investments in the smartphone
business have progressed solidly and based on our strong initial
success, we aim to generate an increasing percentage of revenues
from our smartphone platform going forward."
Financial Results for First Quarter
2014
Total Revenues
Beginning this quarter, Sky-mobi will provide revenue breakdown
in two forms: by handset type and by source. The Company will
disclose smartphone revenues in order to better present Sky-mobi's
progress in the smartphone business.
Revenues by handset type are broken down into: "Feature phone
revenues" and "Smartphone revenues".
Revenues by source are broken down into: "Revenues collected
from carrier channels", "Revenues collected from third party
channels" and "Other revenues".
|
For the three months ended |
|
June 30, |
|
2012 |
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Revenues by handset type: |
|
Feature phone revenues |
153,355 |
106,763 |
17,396 |
Smartphone revenues |
-- |
18,454 |
3,007 |
Total revenues |
153,355 |
125,217 |
20,403 |
|
|
|
|
|
For the three months ended |
|
June 30, |
|
2012 |
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
Revenues by source: |
|
Revenues collected from carrier
channels |
112,509 |
80,655 |
13,142 |
Revenues collected from third
party channels |
33,504 |
32,469 |
5,290 |
Other revenues |
7,342 |
12,093 |
1,971 |
Total revenues |
153,355 |
125,217 |
20,403 |
Total revenues for first quarter 2014 decreased 18.3% to
RMB125.2 million (US$20.4 million) from RMB153.4 million in first
quarter 2013. The Company generated RMB18.5 million (US$3.0
million) from its smartphone business, representing 14.7% of the
Company's total revenues in first quarter 2014. The Company expects
revenues from its smartphone business to increase in future
quarters.
Revenues collected from carrier channels (which principally
consist of application store revenues) were RMB80.7 million
(US$13.1 million) in first quarter 2014, representing 64.4% of
total revenues, decreasing 28.3% from RMB112.5 million in first
quarter 2013. The decrease in revenues collected from carrier
channels was primarily due to fewer user visits and downloads from
the feature phone Maopao application store as a result of the
ongoing decline in the feature phone market, partially offset by
increased revenue from the Company's smartphone Maopao application
store and a higher monetization rate as a result of direct
cooperation with mobile operators. Due to increased user visits and
downloads on the Company's smartphone Maopao application store, in
first quarter 2014, the Company's smartphone Maopao application
store contributed approximately RMB17.5 million (US$2.9 million),
representing 21.7% of total revenues collected from carrier
channels. The Company believes that its smartphone user visits and
downloads will increase in future quarters as it continues to
expand its user base.
Revenues collected from third party channels, which principally
consist of Maopao community revenues, were RMB32.5 million (US$5.3
million), down 3.1% from first quarter 2013 and contributing 25.9%
of total revenues in first quarter 2014. Sky-mobi had 7.6 million
active members and 479.3 million member log-ins on the Maopao
Community during the first quarter 2014, decreasing from 15.9
million active members and 810.3 million member log-ins in the
first quarter 2013. Revenues from the Maopao Community slightly
decreased due to the decline in the number of active members and
log-ins as a result of the shrinking feature phone market,
partially offset by higher average revenue per year on the
Company's two most popular mobile social games, "Fantasy of Three
Kingdoms" and "Fairy Magic World". The Company expects revenue
collected from third party channels to contribute a steady
percentage of total revenues in future quarters.
Other revenues were RMB12.1 million (US$2.0 million) in first
quarter 2014, up from RMB7.3 million in first quarter
2013. The increase was primarily due to the Company's efforts
in developing its promotional services on its Maopao Platforms as
well as growth of its application store and related services
outside of China. Other revenues consist of commissions from
companies for using feature phone and smartphone Maopao Platforms
to promote and sell applications ("promotional income") as well as
overseas revenues generated by the Company's international mobile
service providers.
Cost of Revenues and Gross
Profit
Total cost of revenues for first quarter 2014 decreased 21.8% to
RMB91.0 million (US$14.8 million) compared to RMB116.3 million in
first quarter 2013.
Total non-IFRS cost of revenues for first quarter 2014 decreased
21.1% to RMB90.9 million (US$14.8 million) compared to RMB115.3
million in first quarter 2013.
|
For the three months ended |
|
June 30, |
|
2012 |
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
Cost of revenues: |
|
Costs associated with payments
to industry participants |
103,286 |
83,290 |
13,571 |
Direct costs |
13,010 |
7,680 |
1,252 |
Total cost of revenues: |
116,296 |
90,970 |
14,823 |
Gross Margin |
24.2% |
27.4% |
|
|
Non-IFRS cost of revenues: |
|
Costs associated with payments
to industry participants |
103,286 |
83,290 |
13,571 |
Direct costs |
12,020 |
7,637 |
1,245 |
Total non-IFRS cost of revenues: |
115,306 |
90,927 |
14,816 |
Non-IFRS Gross Margin |
24.8% |
27.4% |
|
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 revenues, 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 19.4% to RMB83.3 million (US$13.6 million) in first
quarter 2014 compared to RMB103.3 million in first quarter 2013.
This decrease was primarily due to reduced channel costs, which
were in-line with the decline in revenues collected from those
channels, as well as cost savings from dealing directly with the
mobile operators.
Non-IFRS direct costs decreased 36.5% to RMB7.6 million (US$1.2
million) in first quarter 2014 compared to RMB12.0 million in first
quarter 2013. Non-IFRS direct costs include salaries and benefits,
depreciation, office expenses and utilities directly related to the
operation of Maopao application stores on feature phones and
smartphones. The decrease was primarily due to a reduction in
overall headcount in the Company's feature phone market business,
consistent with the Company's strategy to focus on the smartphone
market.
Non-IFRS gross profit for first quarter 2014 decreased 9.9% to
RMB34.3 million (US$5.6 million) compared to RMB38.0 million in
first quarter 2013. Non-IFRS gross margin in first quarter 2014 was
27.4%, up from 24.8% in first quarter 2013, mainly due to the
higher contribution of promotional income from the Company's
feature phone and smartphone Maopao platforms, which has a higher
profit margin, as well as lower billing and transmission failure
rates and cost savings from direct cooperation with China Mobile on
the Company's game platform.
Operating Expenses
Total operating expenses, primarily consisting of employee
salaries and benefits, training expenses, traveling, entertainment
and office related expenses, decreased 17.7% in first quarter 2014
to RMB38.1 million (US$6.2 million) from RMB46.2 million in first
quarter 2013, primarily due to the decrease in headcount.
Total non-IFRS operating expenses were RMB31.0 million (US$5.1
million) in first quarter 2014, a decrease of 20.4% from RMB39.0
million in first quarter 2013.
|
For the three months ended |
|
June 30, |
|
2012 |
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
Operating expenses: |
|
Research and development
expenses |
20,075 |
11,788 |
1,921 |
Sales and marketing
expenses |
8,930 |
10,764 |
1,754 |
General and administrative
expenses |
17,270 |
15,464 |
2,520 |
Other income and expense |
(60) |
39 |
7 |
Total operating expenses |
46,215 |
38,055 |
6,202 |
|
Non-IFRS operating expenses: |
|
Research and development
expenses |
17,758 |
9,364 |
1,526 |
Sales and marketing
expenses |
8,068 |
7,815 |
1,274 |
General and administrative
expenses |
13,202 |
13,789 |
2,247 |
Other income and expense |
(60) |
39 |
7 |
Total non-IFRS operating expenses |
38,968 |
31,007 |
5,054 |
Non-IFRS operating expenses are defined as operating expenses
excluding share-based compensation expenses.
The decrease in operating expenses was primarily due to the
reduced overall headcount in connection with the Company's
reorganization which rebalanced headcount between its smart phone
and feature phone businesses and reduced resources for the feature
phone business due to the shrinking feature phone market. The
Company's employee headcount decreased to 395 as of June 30, 2013
from 597 as of June 30, 2012 as described in the table below.
|
As of |
As of |
As of |
|
June 30, |
March 31, |
June 30, |
|
2012 |
2013 |
2013 |
|
|
|
|
Headcount |
|
Operations |
117 |
78 |
77 |
Research and development |
299 |
218 |
139 |
Sales and marketing |
84 |
111 |
100 |
General and administrative |
97 |
82 |
79 |
|
|
Total Headcount |
597 |
489 |
395 |
Net profit and
EPS
Net loss in first quarter 2014 decreased to RMB0.3 million
(US$0.1 million), compared to net loss of RMB5.1 million in first
quarter 2013.
Non-IFRS net profit in first quarter 2014 increased 116.0% to
RMB6.8 million (US$1.1 million) from RMB3.1 million in first
quarter 2013.
Basic and diluted loss per common share in first quarter 2014
was RMB0.00 (US$0.00), which represent the equivalent of RMB0.01
(US$0.00) per ADS.
Non-IFRS basic and diluted EPS in first quarter 2014 were
RMB0.02 (US$0.00), which represent the equivalent of RMB0.12
(US$0.02) per ADS.
The weighted average number of ADSs used to calculate basic and
diluted earnings per ADS for first quarter 2014 were
30,275,080.
Common Shares
Sky-mobi had 252.1 million common shares outstanding as of June
30, 2013, or the equivalent of 31.5 million ADSs outstanding.
Other Operating Data
The following table sets forth total feature phone application
store downloads and smart phone application store downloads for the
periods indicated:
|
For the three months ended |
|
June 30, |
|
In millions |
2012 |
2013 |
% change |
|
|
|
|
Feature Phone Application Store |
|
|
|
User visits |
4,156.9 |
1,074.7 |
(74.1)% |
|
|
|
|
Single-user application and content
downloads |
|
|
|
Single-player games |
263.1 |
113.5 |
(56.9)% |
Other Single-user applications
and content titles |
500.9 |
179.5 |
(64.2)% |
Total Single-user application and content
downloads |
764.0 |
293.0 |
(61.6)% |
|
|
|
|
Multiplayer games downloads |
47.8 |
21.6 |
(54.9)% |
|
|
Total feature phone application store
downloads |
811.8 |
314.6 |
(61.2)% |
|
|
|
|
|
For the three months ended |
|
June 30, |
In millions |
2013 |
Smartphone Application Store |
|
User visits |
673.0 |
|
|
Single-user application and content
downloads |
|
Single-player games |
46.0 |
Other Single-user applications
and content titles |
68.9 |
Total Single-user application and content
downloads |
114.9 |
|
|
Multiplayer games downloads |
1.3 |
|
|
Total Smartphone application store
downloads |
116.2 |
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 June 30, |
In millions |
2012 |
2013 |
% change |
|
|
Number of registered members |
193.4 |
259.9 |
34.4% |
|
|
|
|
|
For the three months ended |
|
|
June 30, |
|
In millions |
2012 |
2013 |
% change |
|
Maopao Community |
|
Number of active members |
15.9 |
7.6 |
-51.8% |
Number of member log-ins |
810.3 |
479.3 |
-40.8% |
Business Outlook
For the fiscal second quarter 2014 ending September 30, 2013,
Sky-mobi expects total revenues to be in the range of RMB95 million
to RMB105 million.
These are Sky-mobi's current projections, which are subject to
change.
Change of Management
The Company announced today that the Company's chief financial
officer, Mr. Carl Yeung, will be stepping down from his role for
personal reasons. Mr. Yeung will serve as a non-executive
director of the board, effective immediately. The Company also
announced that its board of directors (the "Board") has initiated a
search process for a new chief financial officer. The Board
will oversee the search process.
In addition, the Company announced that Mr. Qing Yan will be
stepping down from his role as the Company's chief operating
officer, effective immediately. The Board has appointed Mr.
Yan as the chief executive officer of Sky Technologies
International Limited ("Sky Technologies"), a subsidiary of
Sky-mobi, in order to devote his full attention to the development
of Sky-mobi's overseas expansion efforts. Effective
immediately, Mr. Zheng Wang will be promoted to Vice President of
Operations and will be responsible for oversight of the day-to-day
operation of the Company's business. Mr. Wang has been working
at Sky-mobi since 2007. Prior to this appointment, Mr. Wang served
as the vice general manager responsible for Company's revenue
generating operations, manager of the internet operations
department, director of the portal technology center, general
manager of platform center and general manager of the applications
store business department. Prior to joining Sky-mobi, Mr. Wang
served as a research and development engineer of Hangzhou Eastern
Communications Co., Ltd. Mr. Wang received his bachelor's
degree in computer communications from Nanjing University of Posts
and Telecommunications in 2001.
"I would like to sincerely thank Carl for his expertise and
dedication to Sky-mobi and for establishing strong practice in
finance, investor relations and internal controls during his
tenure. The board welcomes the addition of Carl as a director to
continue to oversee the strong financial practices we have and to
provide guidance on Company's strategies at the board level,"
stated Mr. Michael Tao Song. "In addition, we are pleased to
promote Qing to the CEO of Sky Technologies who will assume a more
focused leadership role in managing our international business
development. We are seeing increased user growth of
China-manufactured smartphones in global emerging markets,
especially in Southeast Asia and South America where we believe our
increased focus and the depth of our executive team will strengthen
our penetration into these markets."
Mr. Carl Yeung stated, "I have truly enjoyed my time and
experience working as the CFO of Sky-mobi. I am very proud of the
substantial progress Sky-mobi has achieved in the smartphone
business in the past few quarters as a result of the relentless
effort by the entire executive team. I look forward to
continuing to serve the Company as a non-executive director and
believe its strategic positioning, growth potential and exceptional
execution capabilities will continue to build a bright future."
Conference Call and Webcast
Sky-mobi's management team will host a conference call today,
August 12, 2013, at 8:00 AM EDT, (or 5:00 AM U.S. Pacific Standard
Time and 8:00 PM, Beijing/Hong Kong time) to discuss the
Company's financial results. Participants may access the call by
dialing the following numbers:
United States: |
+1-845-675-0438 |
International Toll Free: |
+1-855-500-8701 |
China Domestic: |
400-1200654 |
Hong Kong: |
+852-3051-2745 |
Conference ID: |
#23906807 |
The replay will be accessible through August 19, 2013 by dialing
the following numbers:
United States Toll Free: |
+1- 855-452-5696 |
International: |
+61-2-8199-0299 |
Conference ID: |
#23906807 |
A live and archived webcast of the conference call will be
available on the Company's investor relations 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 (loss) 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 and share of
results of associates, less 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
RMB6.1374 to US$1.00, the exchange rate at June 28, 2013 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 28, 2013.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 in terms of the user visits to the Company's Maopao
application store. 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.
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.
FINANCIAL TABLES FOLLOW
Sky-mobi
Limited |
Unaudited Consolidated
Statements of Profit or Loss and Other Comprehensive Income
(IFRS) |
|
|
|
|
|
For the three months ended |
|
June 30, |
|
2012 |
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
|
|
|
|
|
|
|
Revenues |
153,355 |
125,217 |
20,403 |
Cost of revenues |
(116,296) |
(90,970) |
(14,823) |
Gross profit |
37,059 |
34,247 |
5,580 |
|
|
|
|
Research and development expenses |
(20,075) |
(11,788) |
(1,921) |
Sales and marketing expenses |
(8,930) |
(10,764) |
(1,754) |
General and administrative expenses |
(17,270) |
(15,464) |
(2,520) |
Other income and expense |
60 |
(39) |
(7) |
Total operating expenses |
(46,215) |
(38,055) |
(6,202) |
|
|
|
|
Loss from operations |
(9,156) |
(3,808) |
(622) |
|
|
|
|
Other gains and losses |
4,496 |
2,845 |
464 |
Share of results of associates |
(281) |
1,456 |
238 |
Profit (loss) before tax |
(4,941) |
493 |
80 |
Income tax expenses |
(167) |
(824) |
(134) |
Loss for the period |
(5,108) |
(331) |
(54) |
|
|
|
|
Total comprehensive loss for the period |
(5,108) |
(331) |
(54) |
|
|
|
|
Loss and total comprehensive
expense attributable to: |
(5,099) |
(454) |
(74) |
- Owners of the Company |
|
|
|
- Non-controlling interests |
(9) |
123 |
20 |
|
(5,108) |
(331) |
(54) |
|
|
|
|
Loss per common share |
|
|
|
Basic |
(0.02) |
(0.00) |
(0.00) |
Diluted |
(0.02) |
(0.00) |
(0.00) |
|
|
|
|
Weight average number of ADS |
|
|
|
Basic |
32,273,852 |
30,275,080 |
|
Diluted |
32,273,852 |
30,275,080 |
|
|
|
|
|
Weight average number of shares |
|
|
|
Basic |
258,190,818 |
242,200,638 |
|
Diluted |
258,190,818 |
242,200,638 |
|
|
Unaudited
Reconciliations of non-IFRS financial measures |
to comparable IFRS
financial measures |
|
|
|
For the three months ended |
|
June 30, |
|
2012 |
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
(Except for share and per share data) |
|
|
|
|
|
|
|
IFRS cost of revenues |
(116,296) |
(90,970) |
(14,823) |
Less: share-based compensation expenses |
990 |
43 |
7 |
Non-IFRS cost of revenues |
(115,306) |
(90,927) |
(14,816) |
|
|
|
|
IFRS gross profit |
37,059 |
34,247 |
5,580 |
Add: share-based compensation expenses |
990 |
43 |
7 |
Non-IFRS gross profit |
38,049 |
34,290 |
5,587 |
|
|
|
|
Total IFRS operating expenses |
(46,215) |
(38,055) |
(6,202) |
Less: share-based compensation expenses |
7,247 |
7,048 |
1,148 |
Total non-IFRS operating expenses |
(38,968) |
(31,007) |
(5,054) |
|
|
|
|
IFRS loss from operations |
(9,156) |
(3,808) |
(622) |
Add: share-based compensation expenses |
8,237 |
7,091 |
1,155 |
Non-IFRS profit (loss) from operations |
(919) |
3,283 |
533 |
|
|
|
|
IFRS net loss for the period |
(5,108) |
(331) |
(54) |
Add: share-based compensation expenses |
8,237 |
7,091 |
1,155 |
Non-IFRS net profit for the period |
3,129 |
6,760 |
1,101 |
|
|
|
|
Non-IFRS earnings per common share |
|
|
|
Basic |
0.01 |
0.02 |
0.00 |
Diluted |
0.01 |
0.02 |
0.00 |
|
|
|
|
Weight average number of shares |
|
|
|
Basic |
258,190,818 |
242,200,638 |
|
Diluted |
258,190,818 |
242,200,638 |
|
|
Sky-mobi
Limited |
Unaudited Consolidated
Statements of Financial Position (IFRS) |
|
|
|
|
|
As of |
As of |
|
March 31, |
June 30, |
June 30, |
|
2013 |
2013 |
In thousands |
(RMB) |
(RMB) |
(US$) |
|
|
|
|
ASSETS |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
135,025 |
107,368 |
17,494 |
Term deposits |
473,277 |
507,166 |
82,635 |
Trade and other receivables |
80,274 |
81,678 |
13,308 |
Amounts due from related parties |
523 |
131 |
21 |
Total current assets |
689,099 |
696,343 |
113,458 |
|
|
|
|
Non-current assets |
|
|
|
Property and equipment |
15,170 |
12,040 |
1,962 |
Investments in associates |
22,371 |
29,326 |
4,778 |
Available-for-sale investments |
7,167 |
7,081 |
1,154 |
Prepayment for investment |
3,000 |
250 |
41 |
Other non-current assets |
2,568 |
3,098 |
505 |
Deferred tax assets |
1,765 |
1,765 |
288 |
Total non-current assets |
52,041 |
53,560 |
8,728 |
|
|
|
|
Total assets |
741,140 |
749,903 |
122,186 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Current liabilities |
|
|
|
Trade and other payables |
122,119 |
130,713 |
21,298 |
Income tax liabilities |
4,787 |
4,103 |
669 |
Amounts due to related parties |
4,054 |
7,644 |
1,245 |
Deferred revenue |
9,062 |
8,436 |
1,375 |
Total current liabilities |
140,022 |
150,896 |
24,587 |
|
|
|
|
Total liabilities |
140,022 |
150,896 |
24,587 |
|
|
|
|
Equity |
|
|
|
Share capital |
89 |
90 |
15 |
Share premium |
625,651 |
628,126 |
102,344 |
Reserves |
172,718 |
164,647 |
26,827 |
Treasury stock |
(2) |
(4) |
(1) |
Deficit |
(197,826) |
(198,280) |
(32,306) |
Equity attributable to owners of the
Company |
600,630 |
594,579 |
96,879 |
Non-controlling interests |
488 |
4,428 |
720 |
Total equity |
601,188 |
599,007 |
97,599 |
|
|
|
|
Total equity and liabilities |
741,140 |
749,903 |
122,186 |
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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