Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI),
a mobile application platform and game publisher in China,
today announced its unaudited financial results for the first
quarter ended March 31, 2016.
First Quarter 2016
Highlights
- Total revenue was RMB83.7 million (US$13.0 million) in the
first quarter of 2016, compared to RMB233.0 million during the same
period last year and RMB98.1 million in the fourth quarter of
2015.
- Revenue from the smartphone business was RMB81.7 million
(US$12.7 million) in the first quarter of 2016, or 97.6% of total
revenue, compared to RMB219.3 million, or 94.1% of total revenue
during the same period last year.
Mr. Michael Tao Song, chairman and chief executive officer of
Sky-mobi, commented, “I am pleased to report our second straight
quarter of profitability at the operating level and higher gross
margins despite the continued challenging business environment we
find ourselves in. Total revenue during the quarter continued to be
impacted by even tighter control measures on payment transactions
implemented by the mobile carriers in the weeks surrounding China’s
annual consumer rights day on March 15, 2016. These even stricter
control measures negatively impacted our topline during the quarter
and more than offset our revenue strength during the Chinese New
Year holidays. While we continued to implement cost control
measures across our business to improve operating efficiency and
flexibility in this challenging environment, we increased our cost
base this quarter to motivate, attract and retain employees. With
added focus from our employees, we continued to implement our game
publishing strategy by concentrating on publishing a fewer number
of high-quality foreign casual games in the highly competitive
mobile gaming market. With the situation expected to remain
unchanged throughout the year and possibly in the years ahead, we
will continue to manage our business in a careful, cautious and
focused manner going forward.”
Mr. Fischer Xiaodong Chen, chief financial
officer of Sky-mobi, added, “We continued to fine tune our game
publishing business towards high-quality foreign casual games in an
effort to chart a course through what we originally believed would
be a temporary tightening of policies by the three mobile carriers.
Our gross margin increased as a result of our largely feature phone
related multiplayer games and feature phone business, which
generally have higher margins, and accounted for a larger
proportion of total revenue on a sequential basis. Our near term
gross margin expansion was aided primarily by strength in feature
phone games as our feature phone business’s billing and payment
efficiency was less affected by the control measures than our
smartphone business was during the quarter. In the long term, we
will continue to be more critically dependent on the development of
our smartphone business as feature phones continue to be phased out
of the mobile phone market.”
First Quarter 2016 Financial
Results
Total Revenue
Total revenue was RMB83.7 million (US$13.0
million), compared to RMB98.1 million in the previous
quarter and RMB233.0 million during the same period last
year. The sequential decrease was primarily a result of (1) the
three mobile carriers’ continued tightening of security policies
governing payment transactions, and (2) tighter control measures on
payment transactions implemented by the three mobile carriers
during the weeks surrounding China’s annual consumer rights day on
March 15, 2016.
Revenue from the smartphone business
was RMB81.7 million (US$12.7 million), or 97.6% of total
revenue, compared to RMB96.6 million in the previous
quarter, or 98.5% of total revenue, and RMB219.3
million during the same period last year, or 94.1% of total
revenue. The decreases were primarily due to the continued
tightening of payment security policies by the three mobile
carriers.
Revenue can be further broken down into three
categories: “revenue from single-player games”, “revenue from
multiplayer games” and “other revenue”.
Revenue from single-player games
was RMB67.6 million (US$10.5 million), compared
to RMB79.1 million in the previous quarter and RMB194.9
million during the same period last year. ARPU1 for
single-player games was RMB11.3, compared
to RMB10.3 in the previous quarter as the decline in the
paying user base was faster than the reduction in revenue from
single-player games.
Revenue from multiplayer games was RMB13.0
million (US$2.0 million), compared to RMB12.7 million in
the previous quarter and RMB22.8 million during the same
period last year. ARPU for multiplayer games was RMB147.6, compared
to RMB173.6 in the previous quarter as the decline in
paying user base was slower than the reduction in revenue from
multiplayer games.
Other revenue was RMB3.2
million (US$0.5 million), compared to RMB6.4
million in the previous quarter and RMB15.3
million during the same period last year.
Cost of
Revenue and Gross
Profit
Total cost of revenue was RMB61.9
million (US$9.6 million), compared to RMB74.7
million in the previous quarter and RMB185.3
million during the same period last year.
The discussion and analysis below focuses on
non-IFRS cost of revenue, which the Company believes more
accurately reflects its operating performance than the IFRS cost of
revenue.
Total non-IFRS cost of revenue was RMB61.8
million (US$9.6 million), compared to RMB74.8
million in the previous quarter and RMB184.9 million
during the same period last year. Non-IFRS cost of revenue was
composed of non-IFRS cost associated with payments to industry
participants and non-IFRS direct cost as further discussed
below.
Non-IFRS cost associated with payments to
industry participants was RMB58.9 million (US$9.1
million), compared to RMB72.9 million in the previous
quarter and RMB178.8 million during the same period last
year. The decreases were primarily due to decreased payment channel
costs, which was in line with the decrease in the Company's total
revenue.
Non-IFRS direct cost was RMB2.8
million (US$0.4 million), compared to RMB1.9
million in the previous quarter and RMB6.1
million during the same period last year. Non-IFRS direct cost
included salaries and benefits, depreciation, office expenses and
utilities directly related to our operations. The sequential
increase in non-IFRS direct cost was due to increased costs and
salaries associated with motivating, attracting and retaining
employees.
Non-IFRS gross profit was RMB21.9
million (US$3.4 million), compared to RMB23.3
million in the previous quarter and RMB48.1
million during the same period last year. Non-IFRS gross
margin was 26.2%, compared to 23.8% in the previous quarter and
20.6% during the same period last year. The sequential increase in
non-IFRS gross margin was primarily due to the largely feature
phone related multiplayer games and feature phone business, which
generally have higher margins, accounting for a higher proportion
of total revenue.
Operating Expenses and Profit/Loss from
Operations
Total operating expenses, primarily consisting
of employee salaries and benefits, training expenses, travel,
entertainment and office related expenses, were RMB19.7
million (US$3.1 million), compared to RMB18.6
million in the previous quarter and RMB40.6
million during the same period last year. The sequential
increase in operating expenses was primarily due to increased
employee compensation in the first quarter of 2016.
Total non-IFRS operating expenses
were RMB16.9 million (US$2.6 million), compared
to RMB17.5 million in the previous quarter
and RMB35.2 million during the same period last year.
Profit from operations was RMB2.1
million (US$0.3 million), compared to RMB4.9 million in
the previous quarter and RMB7.2 million during the same period
last year. Despite decreased revenue, the Company remains
profitable at the operating level with higher gross margins.
Non-IFRS profit from operations was RMB5.0
million (US$0.8 million), compared to RMB5.8 million in
the previous quarter and RMB12.9 million during the same
period last year.
Net Profit
In the first quarter of 2016, there was no gain
from disposal of associates, compared to RMB9.0
million in the previous quarter and nil during the same period
last year. Share of results of associates was a loss of RMB0.9
million (US$0.1million), compared to profit of RMB2.2
million in the previous quarter and RMB4.7 million during the
same period last year.
Net profit was RMB3.5 million (US$0.5 million),
compared to RMB21.6 million in the previous quarter and RMB14.2
million during the same period last year. Basic and diluted
earnings per common share were RMB0.01 (US$0.002) and RMB0.01
(US$0.002), respectively, which represents the equivalent of
RMB0.12 (US$0.02) and RMB0.12 (US$0.02) per ADS, respectively.
Non-IFRS net profit was RMB6.4 million (US$1.0
million), compared to RMB22.6 million in the previous quarter and
RMB20.0 million during the same period last year. Non-IFRS basic
and diluted earnings per common share were RMB0.03 (US$0.004) and
RMB0.03 (US$0.004), respectively, which represents the equivalent
of RMB0.23 (US$0.04) and RMB0.23 (US$0.04) per ADS,
respectively.
The weighted average number of ADSs used to
calculate basic and diluted earnings per ADS for the first quarter
of 2016 was 28,188,634 and 28,188,634, respectively.
Common Shares
Sky-mobi had approximately 225.0 million common
shares outstanding as of March 31, 2016, or the equivalent of
approximately 28.1 million ADSs outstanding.
Other Operating Data |
|
|
|
|
|
|
For the three months ended |
|
|
December 31, 2015 |
March 31, 2016 |
|
|
|
|
|
Maopao
Platform |
|
|
|
Average MAU2 (in thousands) |
36,722 |
28,652 |
|
|
|
|
|
Single-player
games |
|
|
|
Average ARPU (RMB) |
10.3 |
11.3 |
|
|
|
|
|
Multiplayer
games |
|
|
|
Average ARPU (RMB) |
173.6 |
147.6 |
|
Share Repurchase
The Company entered into a share purchase
agreement to repurchase from its shareholders, Sequoia Capital
China Partners Fund II, L.P., Sequoia Capital China Principals Fund
II, L.P. and Sequoia Capital China II, L.P., an aggregate of
1,308,781 ADSs, each representing eight common shares of par value
US$0.00005 per share of the Company, at a purchase price of US$2.00
per ADS (the "Share Repurchase Transaction"). The Share Repurchase
Transaction was closed in May 2016. The Share Repurchase
Transaction is not part of the share repurchase program announced
in May 2014.
Extension of Share Repurchase
Program
The Company also announced today that its board
of directors has authorized (i) the extension of its existing
repurchase program under which the Company may repurchase up to
US$20 million (the “Aggregate Repurchase Amount”) of its ADSs to
May 25, 2017, and (ii) the reduction of the Aggregate Repurchase
Amount to US$10 million. The Company expects to purchase shares on
the open market, in privately negotiated transactions or otherwise
in compliance with all the conditions of Rule 10b-18 and Rule
10b5-1 under the Securities Exchange Act of 1934, as amended, at
times and in such amounts as the Company deems appropriate. The
share repurchase program does not obligate the Company to acquire
any particular number of ADSs and may be suspended, terminated or
extended at any time at the Company’s discretion without prior
notice.
Business Outlook
Beginning in the second quarter of 2015, China’s
three mobile carriers (China Mobile, China Unicom and China
Telecom) implemented various measures designed to enhance security
of their payment systems. These measures include suspending certain
billing and payment channels and introducing additional mandatory
payment verification steps to the payment process. These measures
continue to discourage mobile subscribers from purchasing content
from mobile application providers including Sky-mobi, resulting in
revenue loss for the Company. With these measures expected to
continue in the medium-to-long-term, the Company expects China's
overall mobile gaming industry, and in particular, its Android
casual gaming segment, to continue to be negatively impacted in the
near term and potentially in the next few years.
The Company is assessing and will continue to
assess the impact of these measures implemented by the three mobile
carriers and their implication on its business.
Conference Call and Webcast
The Company will hold a conference call on
Tuesday, May 24, 2016 at 8:00 am Eastern Time, or 8:00 pm Beijing
Time, to discuss the financial results. Participants may access the
call by dialing the following numbers:
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United States: |
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+1-845-675-0438 |
International Toll Free: |
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+1-855-500-8701 |
China
Domestic: |
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400-1200654 |
Hong
Kong: |
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+852
3018-6776 |
Conference ID: |
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#
18548107 |
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The replay will be accessible through May 31, 2016 by dialing
the following numbers:
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United States Toll Free: |
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+1-
855-452-5696 |
International: |
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+61 2
90034211 |
Conference ID: |
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# 18548107 |
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|
A live and archived webcast of the conference call will be
available on the Company's investor relation website at
http://ir.mopo.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 revenue, gross profit,
operating expenses, profit/loss from operations, net profit/loss
and net profit/loss 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
revenue is defined as cost of revenue excluding
share-based compensation expenses.
Non-IFRS gross profit is
defined as revenue less non-IFRS cost of revenue.
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, impairment loss on investments in associates, loss on
disposal of subsidiary, share of results of associates and gain on
disposal of an associate, 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.
Exchange Rate
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 RMB 6.4480 to US$1.00, the exchange rate at March 31,
2016 as set forth in the H.10 statistical release of the Federal
Reserve Board.
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 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. 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 is a mobile application
platform and game publisher in China. The Company works with
handset companies to pre-install its Maopao App Store and other
Maopao applications on handsets and with content providers to
provide users with applications and content titles. Users of Maopao
App Store can browse, download and enjoy a range of applications
and content, such as single-player games, mobile music and books on
various mobile handsets with different hardware and operating
system configurations. The Company also publishes domestic and
foreign game titles through its own Maopao App Store platform and
third party platforms. The Company's mobile social network
community in China, the Maopao Community, offers mobile social
games as well as applications and content with social networking
functions to its registered users. The Company is based in
Hangzhou, China. For more information, please visit:
www.sky-mobi.com.
1 “ARPU” stands for average revenue per paying user.
2 “MAU” stands for monthly active users. It refers to the
number of users that visit Maopao Platform in a particular month,
adjusted to eliminate double-counting of the same user. Average
MAUs for a particular period is the average of the MAUs during that
period.
FINANCIAL TABLES FOLLOW
|
Sky-mobi
Limited |
|
|
Unaudited
Consolidated Statements of Profit or Loss and Other Comprehensive
Income (IFRS) |
|
|
|
For the three months ended |
|
March 31, |
|
December 31, |
March 31, |
March 31, |
|
|
2015 |
|
|
2015 |
2016 |
|
2016 |
|
In thousands |
(RMB) |
|
(RMB) |
(RMB) |
(US$) |
(Except for share and per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
233,008 |
|
|
|
98,129 |
|
|
|
83,652 |
|
|
|
12,973 |
|
Cost of revenue |
|
(185,254 |
) |
|
|
(74,681 |
) |
|
|
(61,850 |
) |
|
|
(9,592 |
) |
Gross profit |
|
47,754 |
|
|
|
23,448 |
|
|
|
21,802 |
|
|
|
3,381 |
|
|
|
|
|
|
|
|
|
Research and development expenses |
|
(12,451 |
) |
|
|
(4,232 |
) |
|
|
(4,173 |
) |
|
|
(647 |
) |
Sales and marketing expenses |
|
(13,230 |
) |
|
|
(3,889 |
) |
|
|
(3,167 |
) |
|
|
(491 |
) |
General and administrative expenses |
|
(16,103 |
) |
|
|
(13,444 |
) |
|
|
(15,119 |
) |
|
|
(2,345 |
) |
Other income, net |
|
1,225 |
|
|
|
2,996 |
|
|
|
2,722 |
|
|
|
422 |
|
Total operating expenses |
|
(40,559 |
) |
|
|
(18,569 |
) |
|
|
(19,737 |
) |
|
|
(3,061 |
) |
Profit from operations |
|
7,195 |
|
|
|
4,879 |
|
|
|
2,065 |
|
|
|
320 |
|
|
|
|
|
|
|
|
|
Other gains, net |
|
6,523 |
|
|
|
7,424 |
|
|
|
3,356 |
|
|
|
520 |
|
Impairment loss on investments in associates |
|
(2,222 |
) |
|
|
- |
|
|
|
|
|
Share of results of associates |
|
4,690 |
|
|
|
2,184 |
|
|
|
(887 |
) |
|
|
(138 |
) |
Gain on disposal of associates |
|
- |
|
|
|
8,998 |
|
|
|
- |
|
|
|
- |
|
Loss on disposal of subsidiaries |
|
- |
|
|
|
- |
|
|
|
(11 |
) |
|
|
(2 |
) |
Profit before tax |
|
16,186 |
|
|
|
23,485 |
|
|
|
4,523 |
|
|
|
700 |
|
Income tax expenses |
|
(1,941 |
) |
|
|
(1,871 |
) |
|
|
(1,032 |
) |
|
|
(160 |
) |
Profit for the period |
|
14,245 |
|
|
|
21,614 |
|
|
|
3,491 |
|
|
|
540 |
|
|
|
|
|
|
|
|
|
Total comprehensive profit for the period |
|
14,245 |
|
|
|
21,614 |
|
|
|
3,491 |
|
|
|
540 |
|
|
|
|
|
|
|
|
|
Profit and total comprehensive income
attributable to: |
|
|
|
|
|
|
|
- Owners of the Company |
|
14,669 |
|
|
|
21,614 |
|
|
|
3,491 |
|
|
|
540 |
|
- Non-controlling interests |
|
(424 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
14,245 |
|
|
|
21,614 |
|
|
|
3,491 |
|
|
|
540 |
|
|
|
|
|
|
|
|
|
Earnings per common share |
|
|
|
|
|
|
|
Basic |
|
0.06 |
|
|
|
0.09 |
|
|
|
0.01 |
|
|
|
0.002 |
|
Diluted |
|
0.06 |
|
|
|
0.09 |
|
|
|
0.01 |
|
|
|
0.002 |
|
|
|
|
|
|
|
|
|
Weight average number of ADS |
|
|
|
|
|
|
|
Basic |
|
27,807,989 |
|
|
|
28,114,639 |
|
|
|
28,188,634 |
|
|
|
Diluted |
|
27,874,209 |
|
|
|
28,130,356 |
|
|
|
28,188,634 |
|
|
|
|
|
|
|
|
|
|
|
Weight average number of shares |
|
|
|
|
|
|
|
Basic |
|
222,463,910 |
|
|
|
224,917,110 |
|
|
|
225,509,070 |
|
|
|
Diluted |
|
222,993,672 |
|
|
|
225,042,848 |
|
|
|
225,509,070 |
|
|
|
|
Unaudited
Reconciliations of non-IFRS financial measures |
to
comparable IFRS financial measures |
|
|
|
For the three months ended |
|
March 31, |
|
December 31, |
|
March 31, |
|
March 31, |
|
|
2015 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2016 |
|
In thousands |
(RMB) |
|
(RMB) |
|
(RMB) |
|
(US$) |
(Except for share and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
IFRS cost of revenue |
|
(185,254 |
) |
|
|
(74,681 |
) |
|
|
(61,850 |
) |
|
|
(9,592 |
) |
Less: share-based compensation expenses |
|
336 |
|
|
|
(133 |
) |
|
|
98 |
|
|
|
15 |
|
Non-IFRS cost of revenue |
|
(184,918 |
) |
|
|
(74,814 |
) |
|
|
(61,752 |
) |
|
|
(9,577 |
) |
|
|
|
|
|
|
|
|
IFRS gross profit |
|
47,754 |
|
|
|
23,448 |
|
|
|
21,802 |
|
|
|
3,381 |
|
Add: share-based compensation expenses |
|
336 |
|
|
|
(133 |
) |
|
|
98 |
|
|
|
15 |
|
Non-IFRS gross profit |
|
48,090 |
|
|
|
23,315 |
|
|
|
21,900 |
|
|
|
3,396 |
|
|
|
|
|
|
|
|
|
Total IFRS operating expenses |
|
(40,559 |
) |
|
|
(18,569 |
) |
|
|
(19,737 |
) |
|
|
(3,061 |
) |
Less: share-based compensation expenses |
|
5,402 |
|
|
|
1,084 |
|
|
|
2,788 |
|
|
|
432 |
|
Total non-IFRS operating expenses |
|
(35,157 |
) |
|
|
(17,485 |
) |
|
|
(16,949 |
) |
|
|
(2,629 |
) |
|
|
|
|
|
|
|
|
IFRS profit from operations |
|
7,195 |
|
|
|
4,879 |
|
|
|
2,065 |
|
|
|
320 |
|
Add: share-based compensation expenses |
|
5,738 |
|
|
|
951 |
|
|
|
2,886 |
|
|
|
447 |
|
Non-IFRS profit from operations |
|
12,933 |
|
|
|
5,830 |
|
|
|
4,951 |
|
|
|
767 |
|
|
|
|
|
|
|
|
|
IFRS net profit for the period |
|
14,245 |
|
|
|
21,614 |
|
|
|
3,491 |
|
|
|
540 |
|
Add: share-based compensation expenses |
|
5,738 |
|
|
|
951 |
|
|
|
2,886 |
|
|
|
447 |
|
Non-IFRS net profit for the period |
|
19,983 |
|
|
|
22,565 |
|
|
|
6,377 |
|
|
|
987 |
|
|
|
|
|
|
|
|
|
Non-IFRS earnings per common share |
|
|
|
|
|
|
|
Basic |
|
0.09 |
|
|
|
0.10 |
|
|
|
0.03 |
|
|
|
0.004 |
|
Diluted |
|
0.09 |
|
|
|
0.10 |
|
|
|
0.03 |
|
|
|
0.004 |
|
|
|
|
|
|
|
|
|
Weight average number of shares |
|
|
|
|
|
|
|
Basic |
|
222,463,910 |
|
|
|
224,917,110 |
|
|
|
225,509,070 |
|
|
|
Diluted |
|
222,993,672 |
|
|
|
225,042,848 |
|
|
|
225,509,070 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sky-mobi
Limited |
|
|
|
|
|
|
|
Unaudited
Consolidated Statements of Financial Position (IFRS) |
|
|
|
|
|
|
|
|
As of |
|
As of |
|
As of |
|
December 31, |
|
March 31, |
|
March 31, |
|
|
2015 |
|
|
|
2016 |
|
|
2016 |
In thousands |
(RMB) |
|
(RMB) |
|
(US$) |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents |
|
337,952 |
|
|
|
88,439 |
|
|
|
13,716 |
|
Term deposits |
|
150,000 |
|
|
|
115,904 |
|
|
|
17,975 |
|
Investment at fair value through profit or
loss |
|
100,979 |
|
|
|
384,667 |
|
|
|
59,657 |
|
Trade and other receivables |
|
111,956 |
|
|
|
107,216 |
|
|
|
16,628 |
|
Amounts due from related parties |
|
4,304 |
|
|
|
1,130 |
|
|
|
175 |
|
Total current assets |
|
705,191 |
|
|
|
697,356 |
|
|
|
108,151 |
|
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
Property and equipment |
|
5,374 |
|
|
|
4,740 |
|
|
|
735 |
|
Investments in associates |
|
89,378 |
|
|
|
77,223 |
|
|
|
11,976 |
|
Investments in funds |
|
12,987 |
|
|
|
12,922 |
|
|
|
2,004 |
|
Available-for-sale investments |
|
22,722 |
|
|
|
22,722 |
|
|
|
3,524 |
|
Held for sale assets |
|
- |
|
|
|
10,924 |
|
|
|
1,694 |
|
Other non-current assets |
|
1,273 |
|
|
|
1,378 |
|
|
|
214 |
|
Deferred tax assets |
|
1,489 |
|
|
|
1,489 |
|
|
|
231 |
|
Total non-current assets |
|
133,223 |
|
|
|
131,398 |
|
|
|
20,378 |
|
|
|
|
|
|
|
Total assets |
|
838,414 |
|
|
|
828,754 |
|
|
|
128,529 |
|
|
|
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Trade and other payables |
|
161,397 |
|
|
|
146,718 |
|
|
|
22,754 |
|
Income tax liabilities |
|
9,874 |
|
|
|
9,904 |
|
|
|
1,536 |
|
Amounts due to related parties |
|
4,742 |
|
|
|
5,716 |
|
|
|
887 |
|
Deferred revenue |
|
3,080 |
|
|
|
2,974 |
|
|
|
461 |
|
Total current liabilities |
|
179,093 |
|
|
|
165,312 |
|
|
|
25,638 |
|
|
|
|
|
|
|
Total liabilities |
|
179,093 |
|
|
|
165,312 |
|
|
|
25,638 |
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
Share capital |
|
82 |
|
|
|
83 |
|
|
|
13 |
|
Treasury Stock |
|
- |
|
|
|
(1 |
) |
|
|
- |
|
Share premium |
|
614,563 |
|
|
|
613,289 |
|
|
|
95,113 |
|
Reserves |
|
149,617 |
|
|
|
151,523 |
|
|
|
23,499 |
|
Deficit |
|
(104,941 |
) |
|
|
(101,452 |
) |
|
|
(15,734 |
) |
Equity attributable to owners of the Company |
|
659,321 |
|
|
|
663,442 |
|
|
|
102,891 |
|
Total equity |
|
659,321 |
|
|
|
663,442 |
|
|
|
102,891 |
|
|
|
|
|
|
|
Total equity and liabilities |
|
838,414 |
|
|
|
828,754 |
|
|
|
128,529 |
|
For investor and media inquiries please contact:
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@ChristensenIR.com
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