HONG KONG, April 1, 2015 /PRNewswire/ — Jintian Pharmaceutical Group Limited (“Jintian Pharmaceutical” or the “Company”; stock code: 2211) announced that Mr. Jin Dongtao, chairman and executive director purchased 40,000,000 ordinary shares (the “shares”) of the Company, representing 2% of the existing entire issued share capital of the Company from AMG Holdings Limited, at HK$2.82 per share with the total amount of approximately HK$113 million. Upon the completion of the transaction, Mr. Jin Dongtao’s shareholding will increase from 45.17% to 47.17%.
Mr. Jin Dongtao, chairman and executive director and 2014 Annual Results Announcements
Mr. Jin Dongtao, with over 20 years’ experience of pharmaceutical industry, enjoying great influence in China’s pharmaceuticals industry. In addition to focus on the Company’s business development, as the leader of the Group, Mr. Jin Dongtao also pays close attention to the market and industry trend, actively promotes the industry concept of MacroHealth (Holistic wellness which includes healthcare and medical industry), develops the market of e-commerce, aiming at building up Jintian Pharmaceutical into a leader in international MacroHealth brand management.
Mr. Jin Dongtao’s explanation of the increase of shareholding will better interpret the Company’s strategic conception:
First, Mr. Jin Dongtao has great confidence in the development of China’s MacroHealth industry.
With China entering aging society, MacroHealth industry, strongly supported by the nation, enjoys huge development potential. Jintian Pharmaceutical, as the forerunner in the pharmaceutical distribution industry, takes the lead in implementing layout of MacroHealth industry with its extraordinary healthcare entity network.
Second, Mr. Jin Dongtao has great confidence in the development of cross-border trading.
By the international perspective resulted from listing in Hong Kong, on one hand, through distributing and selling international MacroHealth brands’ products, the Company achieved strategic cooperation with multiple world-renowned manufactures, expanded the market for the products, and improved profitability and competitiveness among domestic peers; on the other hand, the Company follows closely with the development of free trade zones in China and arrange its business accordingly, in the future the Company will enter the international market to cooperate with famous enterprises from Asia and even from Europe and the United States, so as to establish overseas MacroHealth brand operation and management enterprise.
Third, Mr. Jin Dongtao has great confidence in the establishment of mobile internet platforms.
The Chinese government revealed “Internet Plus” strategy recently, which brought huge development potential for the industry. During 2014, after cooperation with Ali Health, the Company introduced elite teams from the Internet field to actively develop retail and distribution network, and to establish competitive O2O platform. The Company combines with advantages of its entity network to promote fast implementation of our e-commerce strategy to best leverage our leading real economy advantage. The Golden Rules of Marketing and professional training of Jintian Institute make contribution to promoting the Company’s high-margin products. In the meantime, under the thinking mode of platform cooperation, the Company established crossover in e-commerce business in a great extent and depth with dozens of MacroHealth industry-related enterprises at home and abroad.
Mr. Jin Dongtao mentioned, “CVC Capital Partners, as one of our main pre-ipo private fund investors, their lock-up period has expired after three and a half years’ holding period. This transaction is a win-win investment decision. The Company and I maintain a good relationship with CVC. We hereby gratitude to CVC for their years of support.”
Strong FY14 Results. MS maintain their Valuation “Attractive”
In 2014, the revenue and gross profit of the Group increased by 31.1% and 35.4% respectively as compared with 2013. Over gross profit margin increased to 29.1%. Earnings per share for the Reporting Period was RMB23.77 cents.
As at 31 December 2014, the Group acquired 157 retail pharmacies and opened 2 new retail pharmacies. The Group had 953 self-operated pharmacies in total, of which 4 are located in Hong Kong. The Group has established a nationwide distribution network covering approximately 6,500 customers. Meanwhile, the Group now has a total of six logistics centres in Shijiazhuang, Harbin, Jiamusi and other places, which further strengthened our advantages of nationwide distribution network. During the Reporting Period, the Group cooperated with Alibaba Health to launch online prescription drug business in Northeast China.
The Group has high net profit margin which benefits from the focus on branded premium products portfolio, the unique direct supply model, central procurement platform and low operating costs. Jintian Training Institute provides professional training service to employees and customers representing strong abilities of execution and acquisitions integration. In this way, the product portfolio and advanced business model can be applied into the acquisition business. The Group has established a unique business model and strong core competitiveness. In addition, e-commerce and mobile Internet services and MacroHealth has been brought into the Group’s strategy.
Based on FY14 results, Morgan Stanley maintains their bear-case valuation of “Attractive”. And they expect the price target can be HK$4.50 and the stock will bullish on the Group’s accelerating sales growth through offline distribution and retail channels and online platforms.
About JINTIAN PHARMACEUTICAL GROUP LIMITED
Jintian Pharmaceutical Group Limited (“Jintian Pharmaceutical” or the “Company”, stock code: 2211) is one of the leading pharmaceutical retailers and distributors in China, and certified as the Top 10 of 2013-2014 China chain pharmacy stores by the State Food and Drug administration. As at 31 December 2014, the Company has 953 retail pharmacies in including four stores in Hong Kong and approximately 6,500 distribution customers. The Company has high net profit margin, which is attributable to the product mix with a focus on high-gross-margin products, the effective direct-supply model, the centralized procurement platform and low operation costs. The Company provides training programs to its employees and customers through Jintian Institute. The Company also has strong execution capability for acquisitions and integration which enables it to implement its product mix, advanced business model and sophisticated operation procedures in the acquired businesses. The Company has formed distinctive business model and core competitive strengths.
This press release is issued by Wonderful Sky Financial Group Holdings Limited on behalf of JINTIAN PHARMACEUTICAL GROUP LIMITED.
BEIJING, March 19, 2015 /PRNewswire/ — Renren Inc. (NYSE: RENN) (“Renren” or the “Company”), a leading real-name social networking internet platform in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2014.
Renren’s financial statements will reflect the deconsolidation of 56.com’s operating results. Retrospective adjustments to the historical statement of operations have also been made to provide a consistent basis of comparison for the financial results. Specifically, 56.com’s operational results have been excluded from the Company’s financial results from continuing operations and have been separately itemized under discontinued operations.
Fourth Quarter 2014 Highlights
Total net revenues were US$17.2 million, a 38.5% decrease from the corresponding period in 2013.
Renren net revenues were US$10.7 million, a 13.4% decrease from the corresponding period in 2013.
Games net revenues were US$6.5 million, a 58.4% decrease from the corresponding period in 2013.
Gross profit was US$4.9 million, a 65.3% decrease from the corresponding period in 2013.
Operating loss was US$32.4 million, compared to an operating loss of US$38.5 million in the corresponding period in 2013.
Net income attributable to the Company was US$35.0 million, compared to a net income of US$100.8 million in the corresponding period in 2013.
Adjusted net income (1) (non-GAAP) was US$43.2 million, compared to an adjusted net income of US$104.7 million in the corresponding period in 2013.
(1)
Adjusted net income (loss) is a non-GAAP measure, which is defined as net income (loss) excluding share-based compensation expenses, amortization of intangible assets and impairment of intangible assets and goodwill. See “About Non-GAAP Financial Measures” below.
Fiscal Year 2014 Highlights
Total net revenues were US$83.0 million, a 43.9% decrease from 2013.
Renren net revenues were US$45.9 million, a 26.6% decrease from 2013.
Games net revenues were US$37.1 million, a 56.6% decrease from 2013.
Gross profit was US$35.0 million, a 62.7 % decrease from 2013.
Operating loss was US$159.4 million, compared to an operating loss of US$99.4 million in 2013.
Net income attributable to the Company was US$60.5 million, compared to a net income of US$63.7 million in 2013.
Adjusted net income (1) (non-GAAP) was US$145.9 million, compared to an adjusted net income of US$81.6 million in 2013.
“2014 was an important year of transformation for Renren. We reallocated our resources from group-buy e-commerce, on-line video and games development to new growth areas such as internet finance, leveraging our strength with college students from our core Renren social network,” said Joseph Chen, Chairman and Chief Executive Office. “With a better cost structure in place, we believe the most challenging part of the transition is past us. Our recent initiatives in internet financial services have made an exciting start and we believe this can become a future growth engine. Meanwhile, we will continue to innovate and develop new services for our core SNS, which is the foundation of all our services including internet finance.”
Fourth Quarter 2014 Results
Total net revenues for the fourth quarter of 2014 were US$17.2 million, representing a 38.5% decrease from the corresponding period in 2013.
Renren net revenues were US$10.7 million, representing a 13.4% decrease from the corresponding period of 2013. Within Renren net revenues, online advertising revenues were US$4.2 million for the fourth quarter of 2014, a 44.1% decrease from the corresponding period of 2013. The decrease was due to increasing competition and the continuing migration of our traffic to mobile. Internet Value-Added Services (IVAS) revenues were US$6.5 million, representing a 33.6% increase from the corresponding period in 2013, primarily due to the increase in revenue from the social video platform “Woxiu”. Monthly unique log-in users increased from approximately 45 million in December 2013 to approximately 46 million in December 2014.
Games net revenues were US$6.5 million for the fourth quarter of 2014, a 58.4% decrease from the corresponding period of 2013. The decrease was due to the lack of new titles and previously launched games having reached their mature stages.
Cost of revenues was US$12.3 million, a 10.8% decrease from the corresponding period of 2013.
Operating expenses were US$37.3 million, a 29.1% decrease from the corresponding period of 2013.
Selling and marketing expenses were US$8.5 million, a 52.6% decrease from the corresponding period of 2013. The decrease was primarily due to the decrease in advertising and promotions for online games and a significant decrease in expenses incurred for Renren branding campaigns.
Research and development expenses were US$10.6 million, a 38.2% decrease from the corresponding period in 2013. The decrease was primarily due to headcount reduction and the resulting decrease in personnel related expense.
General and administrative expenses were US$14.0 million, a 0.7% increase from the corresponding period in 2013.
Restructuring costs were US$4.2 million, representing the gaming business restructuring cost that occurred during the reporting quarter.
Share-based compensation expenses, all of which were included in operating expenses, were US$8.3 million, compared to US$3.2 million in the corresponding period in 2013.
Operating loss was US$32.4 million, compared to an operating loss of US$38.5 million in the corresponding period in 2013.
Realized gain on short-term investments was US$21.6 million, compared to US$9.0 million in the corresponding period in 2013. The gain was primarily derived from sales of marketable securities.
Earnings in equity method investments were US$52.1 million. These earnings were mainly derived from earnings in Japan Macro Opportunities Offshore Partners, LP.
Net income attributable to the Company was US$35.0 million, compared to a net income of US$100.8 million in the corresponding period in 2013. In the fourth quarter of 2013 the Company recognized a US$132.7 million gain from the deconsolidation of subsidiaries whereas only US$0.5 million corresponding gain in 2014.
Adjusted net income (non-GAAP) was US$43.2 million, compared to an adjusted net income of US$104.7 million in the corresponding period in 2013.
Fiscal Year 2014 Results
Total net revenues in 2014 were US$83.0 million, a 43.9% decrease from 2013.
Renren net revenues in 2014 were US$45.9 million, representing a 26.6% decrease from 2013. Within Renren net revenues, online advertising revenues were US$26.9 million in 2014, a 35.3% decrease from 2013. The decrease in advertising revenues was due to the continuing migration of our traffic from PC to mobile coupled with increasing competition. Internet Value-Added Services (IVAS) revenues were US$19.0 million for 2014, representing a 9.3% decrease from 2013. The decrease was mainly due to decreased revenue from VIP memberships and third party application developer revenues on renren.com.
Games net revenues in 2014 were US$37.1 million, a 56.6% decrease from 2013. The decrease was due to our previously launched games having reached mature stages and the fact that the restructuring of our gaming business since late 2013 has yet to result in the launch of successful new titles.
Cost of revenues in 2014 was US$48.0 million, an 11.6% decrease from 2013.
Gross profit in 2014 was US$35.0 million, a 62.7% decrease from US$93.7 million in 2013. Gross margin in 2014 was 42.2%, compared to 63.3% in 2013.
Operating expenses in 2014 were US$194.4 million, a 0.7% increase from 2013.
Selling and marketing expenses in 2014 were US$38.3 million, a 38.4% decrease from 2013, primarily due to decreased promotional expenses for our games and Renren branding.
Research and development expenses in 2014 were US$50.7 million, a 35.0% decrease from 2013, primarily due to headcount reduction and the resulting decrease in personnel related expenses.
General and administrative expenses in 2014 were US$51.4 million, a 4.4% increase from 2013.
Impairment of intangible assets and goodwill were US$0.7 million and US$46.9 million respectively. The fair value of the goodwill of the Renren platform reporting unit, which included 56.com, were reviewed and estimated in September 2014 based on the operating results and market conditions at time of the review, and the Company determined that such impairments were required.
Restructuring costs in 2014 were US$6.4 million, compared to US$3.5 million in 2013.
Share-based compensation expenses in 2014, all of which were included in the operating expenses, were US$23.6 million, compared to US$16.1 million in 2013. The increase was mainly due to additional share-based incentive awards granted to employees and directors.
Operating loss in 2014 was US$159.4 million, compared to US$99.4 million operating loss in 2013.
Realized gain on short-term investments was US$139.3 million, compared to US$56.0 million in 2013. The gain was primarily derived from sales of marketable securities.
Earnings in equity method investments were US$49.0 million, compared to US$20.3 million in 2013. These earnings were mainly derived from earnings in Japan Macro Opportunities Offshore Partners, LP.
Gain on deconsolidation of the subsidiaries in 2014 was US$0.5 million, compared to US$132.7 million in 2013. The gain in 2014 was due to a one-time gain from the deconsolidation of 56.com.
Gain on disposal of equity method investment, net of income taxes was US$57.0 million, due to the one-time gain from the disposal of our remaining equity interest in Nuomi.
Net income attributable to the Company in 2014 was US$60.5 million, compared to a net income of US$63.7 million in 2013.
Adjusted net income (non-GAAP) in 2014 was US$145.9 million, compared to an adjusted net income of US$81.6 million in 2013.
Share Repurchase Program
On June 28, 2014, the Company announced a share repurchase program to repurchase up to US$100 million of its ADSs and shares. During the fourth quarter of 2014, Renren repurchased approximately 9.3 million ADSs in an aggregate amount of approximately US$28.9 million.
Business Outlook
The Company expects to generate revenues in an amount ranging from US$11 million to US$13 million in the first quarter of 2015, representing 44.2% to 52.8% year-over-year decline. This forecast reflects Renren’s current and preliminary view, which is subject to change.
Conference Call Information
Management will host an earnings conference call at 9:00 p.m. Eastern Time on Wednesday, March 18, 2015 (Beijing/Hong Kong Time: 9:00 a.m., Thursday, March 19, 2015).
Interested parties may participate in the conference call by dialing the numbers below and entering passcode 10-15 minutes prior to the initiation of the call.
This call will be webcast live and the replay will be available on Renren’s corporate web site at http://ir.renren-inc.com for 12 months.
About Renren Inc.
Renren Inc. (NYSE: RENN) operates a leading real name social networking internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, watch videos and enjoy a wide range of other features and services. Renren’s businesses primarily include the main social networking website renren.com and the game operating platform Renren Games. Renren.com had approximately 223 million activated users as of December 31, 2014. Renren’s American depositary shares, each of which represents three Class A ordinary shares, trade on NYSE under the symbol “RENN”.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook for the first quarter of 2015 and quotations from management in this announcement, as well as Renren’s strategic and operational plans, contain forward-looking statements. Renren may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Renren’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our goals and strategies; our future business development, financial condition and results of operations; the expected growth of the social networking site market in China; our expectations regarding demand for and market acceptance of our services; our expectations regarding the retention and strengthening of our relationships with key advertisers and customers; our plans to enhance user experience, infrastructure and service offerings; competition in our industry in China; and relevant government policies and regulations relating to our industry. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Renren does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About Non-GAAP Financial Measures
To supplement Renren’s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Renren uses “adjusted net income (loss)” which is defined as “a non-GAAP financial measure” by the SEC, in evaluating its business. We define adjusted net income (loss) as net income (loss) excluding share-based compensation expenses, amortization of intangible assets and impairment of intangible assets and goodwill. We present adjusted net income (loss) because it is used by our management to evaluate our operating performance. We also believe that this non-GAAP financial measure provide useful information to investors and others in understanding and evaluating our consolidated results of operations in the same manner as our management and in comparing financial results across accounting periods and to those of our peer companies.
The presentation of this non-GAAP financial measure is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliation of non-GAAP results of operations measures to the comparable GAAP financial measures” at the end of this release.
For more information, please contact:
Cynthia Liu Investor Relations Department Renren Inc. Tel: (86 10) 8448 1818 ext 1300 Email: ir@renren-inc.com
RENREN INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Amounts in US dollars, in thousands, except shares,
December 31,
September 30,
December 31,
per shares, ADS, and per ADS data)
2013
2014
2014
ASSETS
Current assets:
Cash and cash equivalents
$
154,308
$
169,500
$
183,025
Term deposits
492,699
570,680
494,065
Restricted Cash
————
2,060
————
Short-term investments
301,995
72,016
29,384
Accounts and notes receivable, net
15,958
16,125
18,044
Prepaid expenses and other current assets
34,080
25,433
37,638
Amounts due from related parties
62,411
405
1,047
Deferred tax assets-current
628
458
————
Equity method investment-current
60,508
————
————
Total current assets
1,122,587
856,677
763,203
Non-current assets:
Property and equipment, net
58,560
49,654
43,690
Intangible assets, net
27,397
12,935
2
Goodwill
61,407
13,700
————
Long-term investments
107,842
206,293
320,414
Deferred tax assets-non-current
1,109
1,560
————
Other non-current assets
6,784
23,707
21,844
Total non-current assets
263,099
307,849
385,950
TOTAL ASSETS
$
1,385,686
$
1,164,526
$
1,149,153
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
10,170
$
8,355
$
5,501
Accrued expenses and other payables
33,314
21,853
24,094
Amounts due to related parties
61,062
87
303
Deferred revenue and advance from customers
8,639
7,662
6,917
Derivative contract liabilities
————
2,866
————
Income tax payable
2,077
8,629
9,229
Total current liabilities
115,262
49,452
46,044
Non-current liabilities:
Other non-current liabilities
156
154
730
Total non-current liabilities
156
154
730
TOTAL LIABILITIES
115,418
49,606
46,774
Shareholders’ Equity:
Class A ordinary shares
790
744
720
Class B ordinary shares
305
305
305
Additional paid-in capital
1,285,283
1,244,690
1,224,393
Statutory reserves
6,712
6,712
6,712
Accumulated deficit
(197,726)
(172,225)
(137,266)
Accumulated other comprehensive income
174,781
34,694
7,774
Total Renren Inc. shareholders’ equity
1,270,145
1,114,920
1,102,638
Noncontrolling Interests
123
————
(259)
TOTAL EQUITY
1,270,268
1,114,920
1,102,379
TOTAL LIABILITIES AND EQUITY
$
1,385,686
$
1,164,526
$
1,149,153
RENREN INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
For the Three Months Ended
For the Twelve Months Ended
(Amounts in US dollars, in thousands, except shares,
December 31,
September 30,
December 31,
December 31,
December 31,
per shares, ADS, and per ADS data)
2013
2014
2014
2013
2014
Net revenues
Renren
$
12,368
$
11,458
$
10,713
$
62,474
$
45,853
Games
15,557
8,071
6,466
85,473
37,101
Total net revenues
27,925
19,529
17,179
147,947
82,954
Cost of revenues
(13,727)
(12,402)
(12,250)
(54,280)
(47,972)
Gross profit
14,198
7,127
4,929
93,667
34,982
Operating expenses:
Selling and marketing
(17,902)
(9,974)
(8,490)
(62,198)
(38,340)
Research and development
(17,176)
(12,147)
(10,609)
(77,956)
(50,675)
General and administrative
(13,923)
(13,246)
(14,018)
(49,275)
(51,429)
Impairment of intangible assets
(208)
(203)
————
(208)
(714)
Impairment of goodwill
————
(46,864)
————
————
(46,864)
Restructuring cost
(3,475)
(2,110)
(4,244)
(3,475)
(6,354)
Total operating expenses
(52,684)
(84,544)
(37,361)
(193,112)
(194,376)
Loss from operations
(38,486)
(77,417)
(32,432)
(99,445)
(159,394)
Other income
603
1,214
697
1,039
2,448
Other expense
————
————
(1,812)
————
(1,812)
Exchange gain (loss) on offshore bank accounts
1,036
930
(981)
1,476
(2,277)
Interest income
2,885
3,260
3,792
12,778
12,677
Realized gain on short-term investments
9,049
4,602
21,576
56,022
139,265
Impairment of short-term investments
(2,098)
————
————
(2,098)
————
Impairment of equity method investments
(23,025)
————
————
(23,025)
————
Loss before provision of income tax, earnings in equity method
investments and noncontrolling interest, net of income taxes
(50,036)
(67,411)
(9,160)
(53,253)
(9,093)
Income tax (expenses) benefit
3,773
(6)
(5,870)
3,980
(6,517)
Loss before earnings in equity method investments and noncontrolling interest, net of income taxes
(46,263)
(67,417)
(15,030)
(49,273)
(15,610)
Earnings in equity method investments, net of income taxes
17,974
47,217
52,113
20,317
49,015
Income (loss) from continuing operations
(28,289)
(20,200)
37,083
(28,956)
33,405
Discontinued operation
Loss from operations of discontinued operations, net of income taxes
(3,546)
(18,045)
(2,773)
(40,068)
(30,809)
Gain on deconsolidation of the subsidiaries
132,665
————
489
132,665
489
Gain on disposal of equity method investment, net of income tax
————
————
(99)
————
56,993
Gain (loss) from discontinued operations, net of income taxes
129,119
(18,045)
(2,383)
92,597
26,673
Net income (loss)
100,830
(38,245)
34,700
63,641
60,078
Net loss attributable to noncontrolling interests
————
122
259
92
382
Net income (loss) attributable to Renren Inc.
$
100,830
$
(38,123)
$
34,959
$
63,733
$
60,460
Net income (loss) per share from continuing operations attributable to Renren Inc.shareholders:
BEIJING, March 17, 2015 /PRNewswire/ — Jumei International Holding Limited (NYSE: JMEI) (“Jumei” or the “Company”), China’s leading online retailer of beauty products, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2014. The Company will host a conference call to discuss the results at 8:30 AM U.S. Eastern Daylight Time on March 17, 2015 (8:30 PM China time on the same day).
Fourth Quarter 2014 Highlights
Total net GMV[1] decreased by 3.0% year-over-year to US$235.2 million, primarily due to a decrease in total orders[2], partially offset by an increase in the number of active customers[3].
Net revenues increased by 18.5% year-over-year to US$166.0 million.
The number of active customers increased by 2.1% year-over-year to 4.8 million.
The number of total orders decreased by 5.9% from the same period last year to 9.6 million.
Gross profit as a percentage of net revenues decreased to 30.4% from 42.6% in the same period of 2013. Gross profit as a percentage of total net GMV decreased to 21.4% from 24.6% in the same period of 2013. The decreases were primarily due to the Company’s shift in strategy from beauty product marketplace sales to merchandise sales that started in September 2014.
Net income attributable to Jumei’s ordinary shareholders increased to US$10.7 million from a net loss attributable to Jumei’s ordinary shareholder of US$15.5 million in the same period of 2013. Net margin attributable to Jumei’s ordinary shareholders was 6.4%, compared with negative 11.0% in the same period of 2013.
Non-GAAP net income attributable to Jumei’s ordinary shareholders[4] was US$11.7 million, a decrease of 25.5% from the same period of 2013. Non-GAAP net margin attributable to Jumei’s ordinary shareholders[5] was 7.0%, compared with 11.2% in the same period of 2013.
Full Year 2014 Highlights
Total net GMV increased by 30.9% year-over-year to US$1.07 billion, primarily due to the increases in the number of active customers and total orders.
Net revenues increased by 31.0% year-over-year to US$632.9 million.
The number of active customers increased by 26.7% year-over-year to 13.3 million.
Total orders increased by 18.3% year-over-year to 42.6 million.
Gross profit as a percentage of net revenues decreased to 39.5% from 41.3% in 2013. Gross profit as a percentage of total net GMV decreased to 23.4% from 24.5% in 2013. The decreases were primarily due to the Company’s shift in strategy from beauty product marketplace sales to merchandise sales that started in September 2014.
Net income attributable to Jumei’s ordinary shareholders was US$56.0 million, compared with US$15.8 million in 2013. Net margin attributable to Jumei’s ordinary shareholders was 8.8%, compared with 3.3% in 2013.
Non-GAAP net income[6] was US$72.3 million, compared with US$57.8 million in 2013. Non-GAAP net income attributable to Jumei’s ordinary shareholders was US$62.4 million, compared with US$48.6 million in 2013. Non-GAAP net margin attributable to Jumei’s ordinary shareholders was 9.9%, compared with 10.1% in 2013.
[1]
“Net GMV” means the sum of (i) net revenues generated from merchandise sales, and (ii) net revenues generated from marketplace services plus corresponding payables to third-party merchants;
[2]
“Total orders” means the total number of orders placed during a period, excluding rejected or returned orders;
[3]
“Active customer” means a customer that made at least one purchase during a specified period;
[4]
“Non-GAAP net income attributable to Jumei’s ordinary shareholders” is a non-GAAP financial measure defined as net income attributable to Jumei’s ordinary shareholders excluding share-based compensation expenses. See “Use of Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results”.
[5]
“Non-GAAP net margin attributable to Jumei’s ordinary shareholders” is a non-GAAP financial measure defined as Non-GAAP net income attributable to Jumei’s ordinary shareholders divided by net revenues. See “Use of Non-GAAP Financial Measures.”
[6]
“Non-GAAP net income” is a non-GAAP financial measure defined as net income excluding share-based compensation expenses. See “Use of Non-GAAP Financial Measures.”
Mr. Leo Chen, founder and CEO of Jumei, stated, “We are pleased to report a solid recovery of our business as we record our eleventh consecutive quarter of profitability on a non-GAAP basis. While fourth quarter 2014 was a full transitional quarter during which we no longer had beauty product marketplace business, we are very encouraged by the strong first quarter 2015 outlook that we are able to share with you today. The particularly strong sequential and year-on-year net revenue guidance indicates a strong recovery driven by Jumei Global which witnessed rapid growth from late December 2014. Not only were we able to fully replace former beauty product marketplace SKUs with Jumei Global, we were also able to achieve what we believe is best-in-class quality control and customer satisfaction. Jumei passed every test with a 100% authenticity rating during multiple e-commerce product sampling tests performed by State Administration for Industry and Commerce in 2014. In a report published on March 13, 2015 by the China e-Business Research Center, a well-known independent e-commerce research firm, Jumei was among the two e-commerce companies out of 20 that achieved five star status and the highest levels of customer satisfaction in 2014. The report was based on a large sample size of approximately 100,000 customer feedback.
By offering direct purchase from brand, competitive pricing and fast delivery speed, Jumei Global is currently the largest cross border ecommerce platform in China and a crucial part of Jumei’s growth strategy in 2015. “
Unaudited Fourth Quarter 2014 Financial Results
Total net revenues were US$166.0 million, an increase of 18.5% from US$140.1 million in the fourth quarter of 2013. The increase was primarily attributable to the increase in the number of active customers and the shift from beauty product marketplace sales to merchandise sales.
Gross profit was US$50.4 million, a decrease of 15.4% from US$59.6 million in the fourth quarter of 2013. Gross profit as a percentage of net revenues decreased to 30.4% from 42.6% in the same period of 2013. Gross profit from merchandise sales as a percentage of net GMV of merchandise sales decreased to 25.3% from 31.9% in the same period of 2013, and gross profit as a percentage of net GMV decreased to 21.4% from 24.6% in the same period of 2013. The decrease was primarily due to the shift from beauty product marketplace sales to merchandise sales.
Total operating expenses were US$46.4 million, a decrease of 34.6% from US$70.9 million in the fourth quarter of 2013. Operating expenses as a percentage of total net GMV decreased to 19.7% from 29.3% in the same period of 2013. The decrease was mainly due to a one-time share-based compensation expense of US$30.2 million incurred in the fourth quarter of 2013, but none in the fourth quarter of 2014.
Fulfillment expenses were US$14.8 million, a decrease of 15.9% from US$17.6 million in the same period of 2013. Fulfillment expenses as a percentage of total net GMV decreased to 6.3% from 7.3% in the same period of 2013. The decline was primarily due to a percentage decrease of fulfilled orders over total orders.
Marketing expenses were US$19.9 million, an increase of 20.8% from US$16.5 million in the same period of 2013. Marketing expenses as a percentage of total net GMV increased to 8.5% from 6.8% in the same period of 2013. The increase was primarily a result of the higher number of marketing campaigns and brand promotion activities that Jumei launched during the quarter, and reflects the Company’s efforts to grow its customer base and further promotion.
Technology and content expenses were US$7.1 million, an increase of 115.3% from US$3.3 million in the same period of 2013. Technology and content expenses as a percentage of total net GMV increased to 3.0% from 1.4% in the same period of 2013. The significant increase reflects Jumei’s continuous investments in its information technology platform and the Company’s commitment to attract top research and development talent in order to provide better technology-enabled services to both consumers and merchants.
General and administrative expenses were US$4.6 million, a decrease of 86.3% from US$33.5 million in the same period of 2013. General and administrative expenses as a percentage of total net GMV decreased to 1.9% from 13.8% in the same period of 2013. The significant decrease was mainly due to a decrease in related share-based compensation expenses, which declined to US$0.6 million in the fourth quarter 2014 from US$30.5 million in the same period in 2013. The fourth quarter of 2013 included a one-time share-based compensation expense of US$30.2 million.
Income from operations was US$4.0 million, a significant increase from a loss from operations of US$11.3 million in the same period of 2013.
Non-GAAP income from operations, which excludes US$1.0 million in share-based compensation expenses, was US$5.0 million, a decrease of 74.8% from US$19.8 million in the same period of 2013.
Net income attributable to Jumei’s ordinary shareholders was US$10.7 million, which compares with a net loss attributable to Jumei’s ordinary shareholders of US$15.5 million in the same period of 2013, primarily due to the one-time share-based compensation expense of US$30.2 million in 2013, and the conversion of the Company’s preferred shares into ordinary shares at the completion of our initial public offering in May 2014. Net margin attributable to Jumei’s ordinary shareholders increased to 6.4% from negative 11.0% in the same period of 2013. Net income per basic and diluted ADS attributable to Jumei’s ordinary shareholders were both US$0.07, compared with net loss per basic and diluted ADS attributable to Jumei’s ordinary shareholders of both US$0.24 for the same period of 2013.
Non-GAAP net income attributable to Jumei’s ordinary shareholders, which excludes share-based compensation expenses, was US$11.7 million, a decrease of 25.5% from US$15.7 million in the same period of 2013. Non-GAAP net margin attributable to Jumei’s ordinary shareholders decreased to 7.0% from 11.2% in the same period of 2013. Non-GAAP net income per basic and diluted ADS attributable to Jumei’s ordinary shareholders were both US$0.08, compared with both US$0.25 in the same period of 2013.
Full Year 2014 Financial Results
Net GMV increased by 30.9% year-over-year to US$1.07 billion, primarily due to a 26.7% increase in the number of active customers and an 18.3% increase in total orders.
Net revenues increased by 31.0% year-over-year to US$632.9 million, primarily driven by the increases in active customers and total orders.
The number of active customers was 13.3 million, an increase of 26.7% from 10.5 million in 2013.
The number of total orders was 42.6 million, an increase of 18.3% from 36.0 million in 2013.
Gross profit increased by 25.3% to US$250.2 million from US$199.7 million in 2013. Gross margin decreased slightly to 39.5% from 41.3% in the prior year.
Income from operations increased to US$59.4 million from US$38.3 million in the prior year. Operating margin was 9.4% compared with 7.9% in the prior year.
Non-GAAP income from operations was US$65.7 million, compared with US$71.1 million in the prior year. Non-GAAP operating margin was 10.4%, compared with 14.7% in the prior year.
Net income attributable to Jumei’s ordinary shareholders was US$56.0 million, compared with US$15.8 million in the prior year. Net margin attributable to Jumei’s ordinary shareholders was 8.8%, compared with 3.3% in the prior year.
Net income per basic and diluted ADS attributable to Jumei’s ordinary shareholders were US$0.49 and US$0.45, compared with US$0.27 and US$0.19 in the prior year.
Non-GAAP net income was US$72.3 million, compared with US$57.8 million in the prior year. Non-GAAP net income attributable to Jumei’s ordinary shareholders was US$62.4 million, compared with US$48.6 million in the prior year. Non-GAAP net margin attributable to Jumei’s ordinary shareholders was 9.9%, compared with 10.1% in the prior year.
Non-GAAP net income per basic and diluted ADS attributable to Jumei’s ordinary shareholders were US$0.54 and US$0.50, compared with US$0.82 and US$0.58 in the prior year.
Balance Sheet
As of December 31, 2014, the Company had cash and cash equivalents of US$165.4 million, and short-term investments of US$412.6 million.
Business Outlook
For the first quarter of 2015, the Company expects total net revenues to be between US$224.5 million and US$232.3 million, representing a year-over-year growth rate of approximately 45% to 50%.
These forecasts reflect the Company’s current and preliminary view, which is subject to change.
Conference Call
Jumei’s management will host a conference call on Tuesday, March 17, 2015 at 8:30 a.m. U.S. Eastern Daylight Time (8:30 p.m.Beijing/Hong Kong Time on the same day) to discuss the financial results.
The dial-in details for the earnings conference call are as follows:
Hong Kong:
800-908-575 (Toll Free)
3056-2688 (Toll/Mobile)
China:
800-803-6152 (Toll Free)
400-603-9021 (Toll/Mobile)
USA:
1-877-679-2987 (Toll Free)
646-502-5131 (Toll/Mobile)
UK:
0800-376-2927 (Toll Free)
020-7660-2114 (Toll/Mobile)
Participant PIN Code:
887327#
Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.
A telephone replay of the call will be available after the conclusion of the conference call through 12:00 a.m. U.S. Eastern Standard Time, April 14, 2015. The dial-in details for the replay are as follows:
Hong Kong and International:
852-3060-0238
USA:
1-866-345-5132
Passcode:
214732#
A live and archived webcast of the conference call will be available on the Investor Relations section of Jumei’s website at http://jumei.investorroom.com/.
Use of Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with the United States Generally Accepted Accounting Principles (“GAAP”), Jumei uses non-GAAP income from operations, non-GAAP net income, non-GAAP net income attributable to Jumei’s ordinary shareholders, non-GAAP operating margin, non-GAAP net margin attributable to Jumei’s ordinary shareholders, and non-GAAP net income per ADS attributable to Jumei’s ordinary shareholders, by excluding share-based compensation expenses from operating profit, net income and net income attributable to the Company’s shareholders, respectively. The Company believes these non-GAAP financial measures are important to help investors understand Jumei’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess Jumei’s core operating results, as they exclude certain expenses that are not expected to result in cash payments. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of Jumei’s results. The Company compensates for these limitations by providing the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which should be considered when evaluating Jumei’s performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure is set forth at the end of this release.
About Jumei International Holding Limited
Jumei (NYSE: JMEI) is China’s No. 1 online retailer of beauty products as measured by gross merchandise volume, with a market share of 22.1% in 2013, according to a commissioned research report by Frost & Sullivan. Jumei’s internet platform is a trusted destination for consumers to discover and purchase branded beauty products, fashionable apparel and other lifestyle products through the Company’s jumei.com website and mobile application. Leveraging its deep understanding of customer needs and preferences, as well as its strong merchandizing capabilities, Jumei has adopted multiple effective sales formats to encourage product purchases on its platform, including curated sales, online shopping mall and flash sales.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Jumei’s strategic and operational plans, contain forward-looking statements. Jumei may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Jumei’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, results of operations and financial condition; the expected growth of the Company’s curated sales, online shopping mall and flash sales in China; the expected growth of Jumei Global, the Company’s ability to attract and retain new customers and to increase revenues generated from repeat customers; its ability to obtain the authorization of more exclusive products; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s online retailers of beauty products; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Jumei’s filings with the SEC, including its registration statement on Form F-1, as amended. All information provided in this press release and in the attachments is as of the date of this press release, and Jumei does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Jumei International Holding Limited Mr. Sterling Song Investor Relations Director Phone: +86-10-5676-6983 kans@jumei.com
ZHUHAI, China, March 12, 2015 /PRNewswire/ — The second annual China International Game Conference is underway in the sea side city of Zhuhai, China. Hosted by 37Games, the topic of this year’s conference revolves around creating and publishing games of a higher quality in order to differentiate in an already swamped free-to-play market.
The heavy hitters of China’s browser and mobile game industry are in attendance. Some of the more notable attendees include Mokylin, Yiyu, Qifan, Aoshitang, Shanghai Aurora, Xianhai, 91Act, Digua, and Guaguo Games. Some popular themes of this year’s meeting have included IP rights acquisition and the plan to push Chinese free-to-play games on a global scale. Although Chinese companies are eager to move into untapped markets, the gaming market in China is still growing at a rapid pace, exceeding 150 billion CNY in revenue for 2014. Client games still earn the most (41%) — while browser(16%) and mobile(17%) games still lag considerably behind.
As the market becomes increasingly saturated, Chinese game companies are starting to focus on producing and publishing higher quality games in order to differentiate themselves in the rapidly growing sea of Chinese gaming companies.
After Cai Jing’s immensely popular documentary “Under the Dome” went viral, people across China have been focusing more on their health and the effects their actions are having on the environment. Following this trend, another focus of the 2nd Annual CIGC was on the mental and physical well-being of those working in the gaming industry.
With the amount of time that workers sit at their desks and concentrate intently on their monitors, the Chinese gaming industry is starting to also compete in terms of perks their office provides. Many gaming companies have in-house gyms, badminton courts, ping pong tables, treadmills, and weight machines to help workers cope with the long office hours associated with game developers and publishers.
Imitating their Western counterparts, Chinese gaming companies are also starting to offer other amenities such as gaming lounges, arcades, nap rooms, and machines vending things ranging from coffee to ice cream. In today’s world, attracting top talent requires building an office space with more than just work-related materials — and Chinese firms are starting to pay more attention to this aspect of their operations.
37Games also invited some familiar faces to join their event in Zhuhai. Yiyi, the guest of the most popular TV show in China (Running Man) made an appearance along with Liu Shishi and Wang Xiran. Liu Shishi is one of the most well-known Chinese celebrities, having starred in over 27 TV dramas and movies. Liu Shishi is the spokesperson for the upcoming mobile game “Xuan Yuan Jian Zhi Tian Zhi Heng,” after starring in the TV drama.
The future of the gaming industry in China remains bright. China has, for the first time, legalized the import and sale of consoles. Considering China’s rapid growth, the full potential of the Chinese gaming market has yet to be fully realized. As China has grown, so have its gaming companies — and its only a matter of time before they catch up to their Japanese and American counterparts.
TAIPEI, March 12, 2015 /PRNewswire/ — GigaMedia Limited (NASDAQ: GIGM) today announced attendance to the “Game Connection America 2015” event in San Francisco from March 2nd to March 5th. The Company is aiming at introducing new in-house developed games, while exploring overseas partners for more business opportunities to expand its international presence.
The Company had three games for its premier promotion at the event, namely “Fantasy League”, “Deadtopia” and “JaeJae Guardians”. The first two titles were developed in partnership with Korean game studios, whereas the latter title was developed by GigaMedia.
“Fantasy League” is a 3D RPG about collecting Creature characters and quest adventures in a 3D picture book, with a Korean styled art theme experience. Players can make use of creature’s various skills, formation and class effects to form a powerful team to battle against the evil forces.
“Deadtopia” is a cross-platform FPS (first person shooting) game, powered by Unreal Engine 3 for both PC and mobile devices. Featured by various game modes and battle scenes, this game also enables the players to play in virtual reality which increases excitement and involvement. “Deadtopia” is expected to be available on the market in the second quarter of 2015.
“JaeJae Guardians” is a self-developed, tower defense casual mobile game. JaeJae, a famous Taiwanese illustrator and an IP acquired by GigaMedia, is the leading character of the game. The storyline illustrates JaeJae on an adventure to save another character while recruiting companions along her journey for support. “JaeJae Guardians” is featured by its triple row battle strategy where players now must consider enemies coming in three row lines instead of the classic simple line tactic.
All three games received enthusiastic responses from publishers and developers at the event. Publishers from different countries showed high interest in licensing the demonstrated three games. The Company will carefully evaluate and select appropriate publishers for partnership and expect all three games to be released on the market for players in the second quarter this year.
About GigaMedia
Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of online games and cloud computing services. GigaMedia’s online games business is an innovative leader in Asia with growing game development, distribution and operation capabilities, as well as platform services for games; focus is on mobile games and social casino games. The company’s cloud computing business is focused on providing enterprises in Greater China with critical communications services and IT solutions that increase flexibility, efficiency and competitiveness. More information on GigaMedia can be obtained from www.gigamedia.com.
The statements included above and elsewhere in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the company’s current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in April 2014.
LONDON and NEW YORK, March 5, 2015 /PRNewswire/ — Farfetch announced today a US$86 million Series E round of investment led by DST Global. Farfetch’s existing investors Conde Nast International and Vitruvian Partners also participated in the round.
Yuri Milner, founder of DST Global, said: “Farfetch has a strong team, impressive growth and great potential to capitalize on the fast growing luxury fashion e-commerce market.”
This new investment, which values the company at US$1billion, puts Farfetch in a strong position to continue its rapid growth, focusing on international expansion and omni-channel propositions.
The funding will be used specifically to focus on international expansion with new local language sites, including German, Korean and Spanish; opening new offices in key global markets; and opening up new markets Japan and Australia to the supply side of the marketplace. It will also fuel the company’s omni-channel growth and customer propositions including launching same-day delivery in multiple global markets, and the continued development of VIP and loyalty programs for Farfetch customers in 180 countries.
Jose Neves, Founder and Chief Executive Officer of Farfetch, remarked: “We have had an amazing journey so far, and it’s great to add DST to our already fantastic group of backers for the next stage of growth of Farfetch. The challenge now is to keep innovating and focus on establishing a long-lasting global brand.”
“Farfetch’s development has been remarkably dynamic over the last few years. We are happy to support the talented management team who drive the company forward on its successful course. “, said Moritz von Laffert, Vice President and Director of Acquisitions and Investments at Conde Nast International.
Farfetch’s current investors also include: – Advent Ventures Partners, Index Ventures, Novel TMT and e.Ventures. This latest investment puts the total amount raised by the company at over US$195 million.
Farfetch is a revolutionary way to buy fashion. The pioneering website brings together more than 300 of the world’s best independent designer boutiques, from Paris, New York and Milan to Bucharest, Kuwait and Tokyo. The Farfetch partner boutiques occupy a total of 1,000,000 square feet of retail space across 30 countries, allowing Farfetch customers, across 180 countries to shop an unparalleled range of brands and unique pieces.
Our partner stores have been carefully selected for their unique approach, forward-thinking attitude and diversity, and include such renowned boutiques as Browns in London, L’Eclaireur in Paris, H. Lorenzo in LA, Fivestory in New York and Smets in Luxembourg.
Founded in 2008 by the Portuguese entrepreneur Jose Neves, Farfetch offers these bricks-and-mortar boutiques the opportunity to compete with the major players in online retail. And, for lovers of beautiful fashion, it offers the chance to indulge a passion and shop the world.
About DST Global
Founded in 2009 by Yuri Milner, DST Global is one of the leading investment groups globally to focus exclusively on internet related companies. DST Global’s portfolio includes some of the world’s leading and most valuable internet assets.
About Vitruvian Partners
Vitruvian is an independent private equity firm which specializes in middlemarket buyouts, growth buyouts and growth capital investments in Europe. Vitruvian focuses on investing in ‘dynamic situations’ in industries characterized by rapid growth and change, such as information technology, media, telecoms, financial services, business services, healthcare and leisure. Vitruvian is currently investing VIP II, its recently raised second fund of £1 billion. Its previous investments in the technology and internet sectors include Just Eat, Flexpay, Snow Software, Callcredit Information Group, Inspired Gaming, Openbet, IMD and ASP4All Bitbrains. Vitruvian has offices in London, Munich and Stockholm.
About Conde Nast International (CNI)
Conde Nast is a global media company producing the highest quality magazines, websites and digital content. Reaching more than 263 million consumers in 29 markets, the company’s portfolio includes many of the world’s most respected and influential media properties including Vogue, Vanity Fair, Glamour, Brides, Self, GQ, Conde Nast Traveller/Traveler, Allure, Architectural Digest, Wired, W and Style amongst others.
In addition to publishing 140 magazines and over 100 websites, the company operates a restaurant division and several ventures in education. Conde Nast Entertainment develops film, television and premium video programming.
Please visit condenast.com and condenastinternational.com
HONG KONG and HANGZHOU, CHina, March 3, 2015 /PRNewswire/ — Tian Ge Interactive Holdings Limited (“Tian Ge” or the “Company”) (Stock code: 1980.HK), the largest “many-to-many” live social communities platform in China, is pleased to announce that the Company has recently been included by Hang Seng Indexes Company Limited as a constitute of the Hang Seng Composite Index (“HSCI”) series, including the Hang Seng Composite Index, The Hang Seng Composite SmallCap Index, The Hang Seng Composite Industrial Index – Information Technology, Hang Seng Global Composite Index (“HSGCI”), as well as the Hang Seng Broad Consumption Index (“HSBCI”), with effect from 9 March 2015 (Monday).
In November 2014, Tian Ge has also been included as a constituent of the Morgan Stanley Capital International (“MSCI”) Global Small Cap Indexes – China Index. MSCI is a leading provider of global equity indices and benchmark related products and services to investors worldwide.
HSCI, HSGCI and HSBCI are managed by Hang Seng Indexes Company Limited. A review is conducted every half-year. More details are available on http://www.hsi.com.hk/HSI-Net/HSI-Net.
– End –
About Tian Ge
Tian Ge (1980.HK) is one of the largest live social online video community platforms in China. The Company was founded in Hangzhou, China in 2008 and went public on the main board of the stock exchange of Hong Kong in July 2014. It currently operate eight “many-to-many” live social video communities on both mobile and PC, including 9158 and Sina Show, the two largest communities; and one “one-to-many” community, Sina Showcase.
Our communities offer diverse selection of user-generated content in the live social online video community industry. Through our “many-to-many” ecosystem where multiple users can simultaneously stream to other viewers in the same real-time video room, Tian Ge enables users to interact, socialize, share interest, send virtual items & gifts, and encourages our users to showcase their talents or knowledge for open and public exposure. Recently, we expanded our ecosystem to the online-to-offline (O2O) karaoke, live social mobile & PC games and emerging healthcare mobile application.
BEIJING, February 26, 2015 /PRNewswire/ — Jumei International Holding Limited (NYSE: JMEI) (“Jumei” or the “Company”), China’s leading online retailer of beauty products, today announced that it plans to release its fourth quarter and full year 2014 financial results on Monday, March 16, 2015 after the market closes.
Jumei’s management will host a conference call on Tuesday, March 17, 2015 at 8:30 a.m. U.S. Eastern Time (8:30 p.m.Beijing / Hong Kong Time on the same day) to discuss the financial results.
The dial-in details for the earnings conference call are as follows:
Hong Kong:
800-908-575 (Toll Free)
3056-2688 (Toll/Mobile)
Mainland China:
800-803-6152 (Toll Free)
400-603-9021 (Toll/Mobile)
USA:
1-877-679-2987 (Toll Free)
646-502-5131 (Toll/Mobile)
UK:
0800-376-2927 (Toll Free)
020-7660-2114 (Toll/Mobile)
Participant PIN Code:
887327#
Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.
A telephone replay of the call will be available after the conclusion of the conference call through 12:00 a.m. U.S. Eastern Time, April 17, 2015. The dial-in details for the replay are as follows:
International and Hong Kong:
852-3060-0238
USA:
1-866-345-5132
Passcode:
214732#
A live and archived webcast of the conference call will be available on the Investor Relations section of Jumei’s website at http://jumei.investorroom.com.
About Jumei International Holding Limited
Jumei (NYSE: JMEI) is China’s No. 1 online retailer of beauty products as measured by gross merchandise volume, with a market share of 22.1% in 2013, according to a commissioned research report by Frost & Sullivan. Jumei’s internet platform is a trusted destination for consumers to discover and purchase branded beauty products, fashionable apparel and other lifestyle products through the Company’s jumei.com website and mobile application. Leveraging its deep understanding of customer needs and preferences, as well as its strong merchandizing capabilities, Jumei has adopted multiple effective sales formats to encourage product purchases on its platform, including curated sales, online shopping mall and flash sales.
For investor and media inquiries, please contact:
Jumei International Holding Limited Mr. Sterling Song Investor Relations Director Phone: +86-10-5676-6983 E-mail:kans@jumei.com
GUANGZHOU, China, February 9, 2015 /PRNewswire/ — Vipshop Holdings Limited (NYSE: VIPS) (“Vipshop” or the “Company”), China’s leading online discount retailer for brands, today announced that it plans to release its fourth quarter and full year 2014 financial results on Monday, February 16, 2015 after market close. The Company will hold a conference call on Tuesday, February 17, 2015 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:
+1-845-675-0438
International Toll Free:
+1-855-500-8701
China Domestic:
400-1200654
Hong Kong:
+852-3018-6776
Conference ID:
#79436033
The replay will be accessible through February 24, 2015 by dialing the following numbers:
United States Toll Free:
+1-855-452-5696
International:
+61–2–9003–4211
Conference ID:
#79436033
A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.vip.com.
About Vipshop Holdings Limited
Vipshop Holdings Limited is China’s leading online discount retailer for brands. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit http://www.vip.com.
Global E-Commerce Site Partnered with Award-Winning Creative Agency Droga5 to Build Fully Integrated Brand Campaign
Farfetch, the online platform for the world’s best boutiques, today announced the launch of UNFOLLOW, the company’s first print, digital and outdoor advertising campaign. Droga5 was retained to develop the campaign.
“While the dominant fashion retailers dictate trends to the crowd, and while most consumers of fashion approach it as a race to conform, Farfetch offers access to fashion on one’s own terms, emboldening our customers to express their individuality. This campaign captures the spirit of those who shop beyond the obvious and actively think for themselves,” said Farfetch CMO Stephanie Horton.
Farfetch provides online access to 300 of the world’s most forward-looking, most distinctive boutiques in a single site where the range of brands and products is unparalleled. The slogan “300 Boutiques, 1 Address” represents the Farfetch brand proposition of bringing together the differentiated assortment of these far-flung boutiques, delivering exceptional pieces and thoughtful curation on one platform.
Shot in Capetown by photographer Charlie Engman, UNFOLLOW celebrates the singular style of the fashion-loving Farfetch customer through images of models seen from the back. The ads depict a point of view of fashion truly showcasing the clothing without labels or famous faces, challenging consumers to seek out the unexpected, to unfollow the crowds.
Nik Studzinski, Executive Creative Director, Droga5 commented, “We are delighted to be working with Farfetch on their first brand campaign. With UNFOLLOW we’re aiming to highlight that Farfetch is a company that stands for people who really love fashion and don’t just mindlessly follow it. A brand that doesn’t adhere to the established conventions of the fashion category. No predictability or famous faces. Just unique clothes and a rallying cry to encourage people to unfollow.”
The launch of the ad campaign comes as Farfetch rides a wave of robust growth and adds initiatives to further enhance the customer experience. Farfetch continues to focus on international expansion both with new boutique signings and fully localised content and translations of the site. Following the successful launches of Japanese, Russian, and Mandarin Farfetch announce that they will launch Korean, Spanish and German language sites in 2015.
Notes to Editors:
The UNFOLLOW campaign will launch in March 2015
About Farfetch
Farfetch is a revolutionary way to buy fashion. The pioneering website brings together more than 300 of the world’s best independent designer boutiques, from Paris, New York and Milan to Bucharest, Helsinki and Ibiza, allowing customers to shop an unparalleled range of labels and pieces.
Our partner stores have been carefully selected for their unique approach, forward-thinking attitude and diversity, and include such renowned boutiques as Browns in London, L’Eclaireur in Paris, H. Lorenzo in LA, Fivestory in New York and Smets in Luxembourg.
Founded in 2008 by the Portuguese entrepreneur Jose Neves, Farfetch offers these bricks-and-mortar boutiques the opportunity to compete with the major players in online retail. And, for lovers of beautiful fashion, it offers the chance to indulge a passion and shop the world.
