HANGZHOU, China, Nov. 11, 2012 (GLOBE NEWSWIRE) -- 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
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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
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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)
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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)
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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 | |