關於 cookie 的說明

本網站使用瀏覽器紀錄 (Cookies) 來提供您最好的使用體驗,我們使用的 Cookie 也包括了第三方 Cookie。相關資訊請訪問我們的隱私權與 Cookie 政策。如果您選擇繼續瀏覽或關閉這個提示,便表示您已接受我們的網站使用條款。

搜尋結果Search Result

符合「Earnings」新聞搜尋結果, 共 1904 篇 ,以下為 97 - 120 篇 訂閱此列表,掌握最新動態
Computime Announces FY24/25 Interim Results

Financial Results Met Our Expectations Amid Macroeconomic Challenges and Climatic Factors Strengthening Global Presence Through "Glocalization" Approach HONG KONG, Nov. 28, 2024 /PRNewswire/ -- Computime Group Limited (the "Company" or "Computime", together with its subsidiaries, collectively the "Group"; stock code: 320.HK) is pleased to announce its interim results for the six months ended 30 September 2024 ("1H FY24/25" or the "Period"). Financial Overview The Group reported a revenue of HK$1,811.3 million in 1H FY24/25 (The six months ended 30 September 2023 ("1H FY23/24"): HK$2,046.8 million). This decline was mainly hindered by a HK$133 million backlog in shipments within the Control Solutions segment. After adjusting for this backlog, revenue reflects a 5% year-over-year decrease, which aligns with our expectations. The Heating, Ventilation, and Air Conditioning ("HVAC") sector of Control Solutions faced challenges from climatic factors and reduced demand for new home construction, while the Branded Business struggled due to warm weather and slow construction activity. As a result, gross profit fell to HK$282.9 million, an 8% decrease. However, the gross profit margin improved to 15.6%, driven by effective cost control and operational efficiencies. EBITDA was HK$146.5 million in 1H FY24/25, maintaining a stable EBITDA margin of 8.1%. As at 30 September 2024, cash and bank balances were HK$217.1 million, with net cash at a healthy HK$70.1 million. Segment Review In 2024, global economic growth has remained subdued. Geopolitical tensions, high interest rates, and various disruptions have dampened markets, particularly affecting the new home construction and residential retrofit activities in Western economies, which have also impacted us. In the Control Solutions segment, revenue fell to HK$1,638.6 million, an 11.2% decrease from HK$1,844.4 million in the first half of FY23/24, primarily due to HK$133 million in shipment backlogs, and reduced demand in the HVAC sector offset gains in Appliances and Water and Air sectors. The Branded Business also faced challenges, with revenue dropping 14.6% to HK$172.8 million due to warmer weather and sluggish construction activity. Despite these challenges in both segments caused by external market conditions and seasonal variations, we expect strategic initiatives and new product launches to bolster performance in the latter part of the year. Our "Glocalization" Approach As we expand our global footprint, we have further enhanced our presence by establishing the manufacturing facility in Romania and preparing our site in Vietnam. To effectively manage our global footprint, we utilize a "Glocalization" approach, which combines globalization and localization to better serve our customers and understand local markets. This strategy allows us to tailor our global products to meet specific regional needs. Our "Glocalization" approach employs three operational models. The "Region-to-Region" model, with manufacturing sites in Romania, Mexico, Vietnam, and Malaysia, enhances our responsiveness to on-shoring demands in Europe and North America. Our "Hub and Spoke" structure provides centralized support for efficient resource management across regional offices. Additionally, the "Specialized and Flexible Hybrid" model enables locations to leverage their unique strengths. These strategies optimize operations, improve market reach, and enhance competitiveness in an increasingly complex global landscape. Outlook The macroeconomic landscape continues to present challenges, particularly in the newly built home property sector. However, residential retrofit activities have surged in 2024, driven by new energy-efficient upgrade standards in the European Union, the United Kingdom, and the United States of America, signaling promising long-term opportunities. Mr. Bernard AUYANG, Chairman, Executive Director and Chief Executive Officer of Computime Group, commented, "Our commitment to sustainability aligns with growing consumer and regulatory demands for environmentally responsible solutions, positioning us favorably as more businesses and consumers prioritize eco-friendly practices." He continued: "Despite current market sluggishness, our 'Glocalization' approach has fostered strong relationships with customers, enabling us to secure order volumes and initiate new projects. Our focus on innovation and sustainable solutions, along with continued investments in Research and Development and the establishment of a technology hub, will enhance our competitiveness. While macroeconomic conditions may remain challenging, our strategic emphasis on sustainability and customer relationships will drive future success."

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 190 加入收藏 :
iClick Interactive Asia Group Limited Reports 2024 Half-Year Unaudited Financial Results

HONG KONG, Nov. 28, 2024 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (Nasdaq: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the six months ended June 30, 2024. Six Months Ended June 30, 2024 2023 Percentagechange (US$ in thousands) (Unaudited) Financial Metrics: Revenue from continuing operations Marketing Solutions 9,324 12,663 (26) % Enterprise Solutions 4,896 4,330 13 % Total revenue from continuing operations 14,220 16,993 (16) % Gross profit from continuing operations 8,096 9,276 (13) % Net loss from continuing operations (1,269) (10,275) N/M Net loss from discontinued operations (5,104) (18,294) N/M Diluted net loss from continuing operations per American Depositary Shares ("ADS") (0.12) (1.01) N/M Operating Metrics: Gross billing 23,060 29,983 (23) % "I am pleased to report that our continuing operations recorded an improvement in gross margin to 56.9% in the first half of 2024 from 54.6% in the first half of 2023, and we saw the increase in enterprise solutions revenue by 13% year-over-year. The Company will continue to focus on improving the financial performance and cash flows, while exploring strategic opportunities for broader business growth.", said Mr. Jian Tang, Chairman, Chief Executive Officer and Co-Founder of iClick. "We continue monitoring and evaluating operations and market trends proactively in order to optimize our business and enhance profitability. We have recently completed the disposal of our mainland China Enterprise Solutions business and demand side Marketing Solutions business. The results of these businesses are presented under discontinued operations." First Half Year of 2024 Results on Continuing Operations: Revenue for the first half of 2024 was US$14.2 million, compared with US$17.0 million for the first half of 2023. Revenue from Marketing Solutions declined to US$9.3 million for the first half of 2024, compared with US$12.7 million for the first half of 2023. It was resulted from our strategic contraction of lower margin and higher risk businesses, with weaker demand from clients on advertising spending due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$4.9 million for the first half of 2024, improved from US$4.3 million in the first half of 2023 due to the increasing demand for digital transformation and services. Gross profit for the first half of 2024 was US$8.1 million, compared with US$9.3 million for the first half of 2023. With the effort of reducing lower margin and higher risk businesses, and a rising revenue contribution from the higher-margin Enterprise Solutions business, gross profit margin increased to 56.9% for the first half of 2024 from 54.6% for the first half of 2023. Total operating expenses were US$12.4 million for the first half of 2024, decreased from US$14.1 million for the first half of 2023. The change was primarily due to our cost optimization execution, which resulted in reduction of staff cost and savings on promotional expenses. The expected credit losses provision of trade receivables was also reduced because of our close monitoring of cash collection. Net loss from continuing operations was US$1.3 million for the first half of 2024, significantly improved from the net loss of US$10.3 million for the first half of 2023, mainly due to no impairment of equity investments in the first half of 2024, which we recorded US$5.6 million in the first half of 2023. Operating loss was reduced by US$0.6 million. Net loss from continuing operations attributable to the Company's shareholders per basic and diluted ADS for the first half of 2024 was US$0.12, compared with a net loss attributable to the Company's shareholders per basic and diluted ADS of US$1.01 for the first half of 2023. Gross billing1 from continuing operations was US$23.1 million for the first half of 2024, compared with US$30.0 million for the first half of 2023, mainly as a result of our continued strategy of reducing lower margin and higher risk businesses, as well as clients' reduced advertising spending. Net loss from discontinued operations was US$5.1 million for the first half of 2024, compared with the net loss of US$18.3 million for the first half of 2023, mainly due to cost optimization, and gain on disposal of discontinued operations amounting to US$2.6 million in the first half of 2024. As of June 30, 2024, the continuing operations of the Company had cash and cash equivalents, time deposits and restricted cash of US$70.2 million, compared with US$41.3 million as of December 31, 2023. About iClick Interactive Asia Group Limited Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia. With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com. 1 Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to.   Safe Harbor Statement This announcement contains forward-looking statements, including those related to the Company's business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. For investor and media inquiries, please contact: In China: In the United States: iClick Interactive Asia Group Limited Core IR Catherine Chau Tom Caden Phone: +852 3700 9100 Tel: +1-516-222-2560 E-mail: ir@i-click.com E-mail: tomc@coreir.com   (financial tables follow)   ICLICK INTERACTIVE ASIA GROUP LIMITED Unaudited Condensed Consolidated Statements of Comprehensive Loss (US$'000, except share data and per share data, or otherwise noted, unaudited) Six Months Ended   June 30, 2024 2023 Continuing operations Revenue 14,220 16,993 Cost of revenue (6,124) (7,717) Gross profit 8,096 9,276 Operating expenses Research and development expenses (311) (265) Sales and marketing expenses (4,381) (8,826) General and administrative expenses (7,704) (5,052) Total operating expenses (12,396) (14,143) Interest expense (32) (117) Interest income 598 591 Other gains/(losses), net 2,560 (5,756) Loss before income tax expense and share of losses from an equity investee (1,174) (10,149) Share of losses from an equity investee (37) (19) Loss before income tax expense (1,211) (10,168) Income tax expense (58) (107) Net loss from continuing operations (1,269) (10,275) Net loss attributable to non-controlling interests 111 9 Net loss from continuing operations attributable to iClick Interactive Asia GroupLimited's ordinary shareholders (1,158) (10,266) Discontinued operations Loss from operations of discontinued operations (7,666) (18,305) Income tax (expense)/credit (23) 11 Gain on disposal of discontinued operations 2,585 - Net loss from discontinued operations (5,104) (18,294) Net loss attributable to non-controlling interests 32 49 Net loss from discontinued operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (5,072) (18,245) Net loss (6,373) (28,569) Net loss attributable to iClick Interactive Asia Group Limited's ordinaryshareholders (6,230) (28,511) Net loss from continuing operations (1,269) (10,275) Other comprehensive loss: Foreign currency translation adjustment, net of US$nil tax (13) (131) Comprehensive loss from continuing operations (1,282) (10,406) Comprehensive loss from continuing operations attributable to non-controllinginterests 111 49 Comprehensive loss from continuing operations attributable to iClick Interactive Asia Group Limited's ordinary shareholders (1,171) (10,357) Net loss from discontinued operations (5,104) (18,294) Other comprehensive income: Foreign currency translation adjustment, net of US$nil tax - 301 Comprehensive loss from discontinued operations (5,104) (17,993) Comprehensive loss from discontinued operations attributable to non-controlling interests 32 20 Comprehensive loss from discontinued operations attributable to iClickInteractive Asia Group Limited's ordinary shareholders (5,072) (17,973) Comprehensive loss attributable to iClick Interactive Asia Group Limited'sordinary shareholders (6,243) (28,330) Net loss from continuing operations per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.12) (1.01) — Diluted (0.12) (1.01) Net loss from discontinued operations per ADS attributable to iClick InteractiveAsia Group Limited's ordinary shareholders — Basic (0.51) (1.79) — Diluted (0.51) (1.79) Net loss per ADS attributable to iClick Interactive Asia Group Limited's ordinary shareholders — Basic (0.63) (2.80) — Diluted (0.63) (2.80) Weighted average number of ADS used in per share calculation: — Basic 9,955,943 10,178,966 — Diluted 9,955,943 10,178,966     ICLICK INTERACTIVE ASIA GROUP LIMITED Unaudited Condensed Consolidated Balance Sheets (US$'000, except share data and per share data, or otherwise noted, unaudited) As ofJune 30, 2024 As ofDecember 31,2023 Assets Current assets Cash and cash equivalents, time deposits and restricted cash 70,239 41,264 Accounts receivable, net of allowance for credit losses of US$1,558 and   US$1,571 as of June 30, 2024 and December 31, 2023 respectively 11,210 13,535 Other current assets 15,813 11,516 Discontinued operations 54,454 93,488 Total current assets 151,716 159,803 Non-current assets Other assets 3,727 3,596 Discontinued operations 112 305 Total non-current assets 3,839 3,901 Total assets 155,555 163,704 Liabilities and equity Current liabilities Accounts payable 3,310 4,462 Bank borrowings 36,932 1,965 Other current liabilities 23,830 20,200 Discontinued operations 56,607 93,445 Total current liabilities 120,679 120,072 Non-current liabilities Other liabilities 221 551 Discontinued operations 1,463 1,829 Total non-current liabilities 1,684 2,380 Total liabilities 122,363 122,452 Equity Ordinary shares – Class A (US$0.001 par value; 80,000,000 shares authorized    as of June 30, 2024 and December 31, 2023, respectively; 38,752,446   shares and 44,477,356 shares issued and outstanding as of June 30, 2024   and December 31, 2023, respectively) 39 45 Ordinary shares – Class B (US$0.001 par value; 20,000,000 shares authorized as    of June 30, 2024 and December 31, 2023, respectively; 5,034,427 shares issued   and outstanding as of June 30, 2024 and December 31, 2023, respectively) 5 5 Treasury shares (218,396 shares and 6,398,616 shares as of June 30, 2024    and December 31, 2023, respectively) (39) (28,656) Other reserves 31,853 65,731 Total iClick Interactive Asia Group Limited shareholders' equity 31,858 37,125 Non-controlling interests 1,334 4,127 Total equity 33,192 41,252 Total liabilities and equity 155,555 163,704  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 272 加入收藏 :
Prenetics Announces Third Quarter 2024 Financial Results

Revenue Grew 59.4% to $7.8 million from Prior Year and 30.9% SequentiallyOfficially Launched IM8Health.com, a new premium supplements brandTencent Invests $30 million in Insighta's Early Cancer DetectionReiterates Revenue Target to Exceed $33 million for FY 2024 CHARLOTTE, N.C., Nov. 27, 2024 /PRNewswire/ -- Prenetics Global Limited (NASDAQ: PRE) ("Prenetics" or the "Company"), a leading health sciences company, today announced unaudited financial results for the third quarter ended September 30, 2024, along with recent business updates. Third Quarter 2024 Financial Highlights Revenue from continuing operations of $7.8 million, as compared to $4.9 million in the third quarter 2023, an increase of 59.4%. Gross profit from continuing operations of $3.9 million, as compared to $1.7 million in the third quarter of 2023, an increase of 138.6%. Gross margin of continuing operations increased to 50.8% from 33.9% in the third quarter 2023, driven by operational efficiencies, better pricing strategies, and cost optimization measures. Adjusted EBITDA[1] loss from continuing operations of $5.8 million, an improvement compared to $6.1 million in the third quarter 2023. Cash and other short-term assets[2] of $69.1 million and debt-free as of September 30, 2024. Insighta[3], our early cancer detection venture with Professor Dennis Lo, had a cash balance of $81.6 million on its balance sheet and debt-free as of September 30, 2024. Third Quarter 2024 and Subsequent Operational Updates Successfully launched IM8health.com on November 18, 2024 and shipping to 31 countries and regions. Initial customer response has been very positive. Completed the acquisition of Europa Sports Partners: Established Prenetics' U.S. headquarters in Charlotte, NC. Europa, along with its third-party logistics arm Hubmatrix, supported IM8's U.S. launch while undergoing a digital transformation focused on advanced consumer technologies and digital strategies. Consummated Tencent's $30 million strategic investment in Insighta: Collaboration with Tencent leverages their AI resources and healthcare expertise to advance early cancer detection through venture business Insighta. Cash and short-term assets increased to approximately $98 million: Tencent's $30 million secondary investment, boosted cash and other short-term assets. CircleDNA and ACT Genomics are on track to achieve business-unit breakeven by the second half of 2024. [1] Adjusted EBITDA is defined as loss from operations excluding (1) employee equity-settled share-based payment expenses, (2) depreciation and amortization, (3) amortization of deferred expenses, (4) acquisition and transaction-related costs, (5) strategic realignment and discontinued products impact, and (6) finance income and exchange gain or loss, net. These adjustments are made for items that may not be indicative of our business performance, including non-cash and/or non-recurring items. [2] Represents current assets, including cash and cash equivalents totaling $31.9 million, financial assets at fair value through profit or loss of $10.9 million, and trade receivables of $5.7 million, amongst other accounting line items under current assets as of September 30, 2024. [3] As of September 30, 2024, we owned 50% shareholding in Insighta, which was accounted for under equity-accounted investee. Equity-accounted investees, totaling $97.6 million as of September 30, 2024, were classified as non-current assets on our balance sheet. Management Commentary Danny Yeung, Chief Executive Officer and Co-Founder, remarked: "I am incredibly proud of our team's execution and the strides we've made in launching IM8 Health, a brand that fills a significant unmet need in the health and wellness market with science-backed premium supplements supported by clinical trials and third-party testing. This launch represents a pivotal moment in our growth strategy, reflecting our commitment to innovation and consumer trust. These efforts have also been supported by a strong third quarter, with 59.4% year-over-year revenue growth and 30.9% growth from the second quarter. Improved gross margins further highlight our focus on operational excellence and cost optimization, even as we invest in structuring the Company for IM8's success—including the strategic acquisition of Europa to support our US expansion." Mr. Yeung continued, "With Tencent's $30 million investment to purchase secondary shares, Insighta's valuation of $200 million has been validated, further strengthening our financial position. This strategic collaboration will enhance our early cancer detection and diagnostic capabilities by leveraging AI and positions us for future growth. As we approach the close of 2024, we are energized by the growth opportunities arising from our strategic pivot to the US market and are confident in surpassing our FY 2024 revenue target of $33 million. IM8 is not just another launch—it's the start of a transformative journey in consumer health, built on science, innovation, and trust, and we remain committed to driving additional value for our shareholders." About Prenetics Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand and Europa, one of the largest sports distribution companies in the USA. Our clinical division is led by Insighta, our $200 million venture focused on multi-cancer early detection technologies. This is followed by ACT Genomics, which has achieved FDA clearance for comprehensive genomic profiling of solid tumors, and CircleDNA, which uses NGS to offer comprehensive DNA tests. Each of Prenetics' units synergistically enhances our global impact on health, embodying our commitment to 'enhancing life through science'. To learn more about Prenetics, please visit prenetics.com. Forward-Looking Statements This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of the Company, and growth opportunities are forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which involve inherent risks and uncertainties, therefore they should not be relied upon as being necessarily indicative of future results. 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 Company's ability to further develop and grow its business, including new products and services; its ability to execute on its new business strategy in genomics, precision oncology, and specifically, early detection for cancer; the results of case control studies and/or clinical trials; and its ability to identify and execute on M&A opportunities, especially in precision oncology. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the "Risk Factors" section of the Company's most recent registration statement and the prospectus therein, and the other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. Basis of Presentation Non-IFRS Financial Measure has been provided in the financial statements tables included at the end of this press release. An explanation of this measure is also included below under the heading "Non-IFRS Financial Measure". Non-IFRS Financial Measure To supplement Prenetics' consolidated financial statements prepared in accordance with International Financial Reporting Standards ("IFRS"), the Company is providing non-IFRS measure, adjusted EBITDA loss from continuing operations. This non-IFRS financial measure is not based on any standardized methodology prescribed by IFRS and are not necessarily comparable to similarly-titled measures presented by other companies. Management believes this non-IFRS financial measure is useful to investors in evaluating the Company's ongoing operating results and trends. Management is excluding from some or all of its non-IFRS results (1) Employee equity-settled share-based payment expenses, (2) depreciation and amortization, (3) Amortization of deferred expenses, (4) Acquisition and transaction-related costs, (5) Strategic realignment and discontinued products impact, and (6) finance income and exchange gain or loss, net — items that may not be indicative of our business, results of operations, or outlook, including but not limited to non-cash and/ or non-recurring items. These non-IFRS financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Management accounts for this limitation by analyzing results on an IFRS basis as well as a non-IFRS basis and also by providing IFRS measures in the Company's public disclosures. In addition, other companies, including companies in the same industry, may not use the same non-IFRS measures or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-IFRS measures as comparative measures. Because of these limitations, the Company's non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the non-IFRS reconciliations provided in the tables captioned "Reconciliation of loss from operations from continuing operations under IFRS and adjusted EBITDA loss from continuing operations (Non-IFRS)" set forth at the end of this document.       PRENETICS GLOBAL LIMITED Unaudited consolidated statements of financial position (Expressed in United States dollars unless otherwise indicated) September 30, June 30, December 31, 2024 2024 2023 Assets Property, plant and equipment $             9,238,067 $             4,745,228 $             5,777,794 Intangible assets 11,987,708 12,455,997 13,424,648 Goodwill 37,363,809 29,170,123 29,170,123 Interests in equity-accounted investees 97,575,853 97,875,233 98,464,875 Financial assets at fair value through profit or loss 9,371,064 9,371,064 9,371,064 Deferred tax assets — 27,627 27,680 Deferred expenses — — 3,530,756 Other non-current assets 1,110,390 968,525 743,173 Non-current assets 166,646,891 154,613,797 160,510,113 Deferred expenses 5,648,473 7,710,439 8,312,890 Inventories 8,932,408 2,878,258 3,126,776 Trade receivables 5,706,585 4,086,030 4,058,007 Deposits, prepayments and other receivables 5,857,371 11,797,508 5,284,848 Amount due from a related company 2,574 2,561 5,123 Amount due from an equity-accounted investee 139,909 120,966 132,114 Financial assets at fair value through profit or loss 10,893,094 10,893,094 11,034,200 Short-term deposits — — 16,000,000 Cash and cash equivalents 31,939,164 41,204,165 45,706,448 Current assets 69,119,578 78,693,021 93,660,406 Total assets $         235,766,469 $         233,306,818 $         254,170,519 Liabilities Deferred tax liabilities $             2,162,250 $             2,238,336 $             2,614,823 Warrant liabilities 205,942 311,152 223,850 Lease liabilities 3,637,751 1,181,457 867,215 Other non-current liabilities 346,955 286,047 823,345 Non-current liabilities 6,352,898 4,016,992 4,529,233 Trade payables 8,740,592 1,693,564 1,671,019 Accrued expenses and other current liabilities 8,174,008 6,821,131 8,174,815 Contract liabilities 5,709,876 5,480,399 6,111,017 Lease liabilities 2,849,971 1,183,046 1,502,173 Liabilities for puttable financial instrument4 16,409,452 15,707,143 14,622,529 Tax payable 7,433,612 7,402,553 7,402,461 Current liabilities 49,317,511 38,287,836 39,484,014 Total liabilities 55,670,409 42,304,828 44,013,247 Equity Share capital 19,094 19,024 18,308 Reserves 178,659,723 188,225,181 206,339,490 Total equity attributable to equity shareholders of the Company 178,678,817 188,244,205 206,357,798 Non-controlling interests 1,417,243 2,757,785 3,799,474 Total equity 180,096,060 191,001,990 210,157,272 Total equity and liabilities $         235,766,469 $         233,306,818 $         254,170,519       PRENETICS GLOBAL LIMITED Unaudited consolidated statements of profit or loss and other comprehensive income (Expressed in United States dollars unless otherwise indicated) Nine Months Ended September 30, September 30, 2024 2023 (Restated) Continuing operations Revenue $           20,132,902 $           16,314,215 Direct costs (8,634,517) (10,154,500) Gross profit 11,498,385 6,159,715 Other income and other net gain 1,451,384 3,791,541 Selling and distribution expenses5 (6,230,284) (6,334,964) Research and development expenses5 (8,344,625) (9,830,791) Administrative and other operating expenses5 (29,951,055) (32,420,130) Loss from operations (31,576,195) (38,634,629) Fair value loss on financial assets at fair value through profit or loss (141,106) (3,944,407) Fair value gain on warrant liabilities 17,908 2,679,485 Share of loss of equity-accounted investees (909,455) (170,717) Other finance costs (124,370) (120,735) Loss before taxation (32,733,218) (40,191,003) Income tax credit 450,479 164,199 Loss from continuing operations (32,282,739) (40,026,804) Discontinued operation Profit/(loss) from discontinued operation, net of tax6 18,582 (7,234,839) Loss for the period (32,264,157) (47,261,643) Other comprehensive income for the period Item that may be reclassified subsequently to profit or loss: Exchange difference on translation of foreign operations (296,142) 677,474 Total comprehensive income for the period $         (32,560,299) $         (46,584,169) Loss attributable to: Equity shareholders of Prenetics $         (29,962,285) $         (45,776,458) Non-controlling interests (2,301,872) (1,485,185) $         (32,264,157) $         (47,261,643) Total comprehensive income attributable to: Equity shareholders of Prenetics $         (30,178,068) $         (44,534,436) Non-controlling interests (2,382,231) (2,049,733) $         (32,560,299) $         (46,584,169) Loss per share: Basic (2.42) (4.18) Diluted (2.42) (4.18) Loss per share - Continuing operations: Basic (2.42) (3.52) Diluted (2.42) (3.52) Weighted average number of common shares: Basic 12,388,243 10,964,344 Diluted 12,388,243 10,964,344       PRENETICS GLOBAL LIMITED Unaudited consolidated statements of profit or loss and other comprehensive income (Expressed in United States dollars unless otherwise indicated) Three Months Ended September 30, June 30, September 30, 2024 2024 2023 (Restated) Continuing operations Revenue $             7,777,973 $             5,941,532 $             4,878,941 Direct costs (3,830,506) (2,173,260) (3,224,316) Gross profit 3,947,467 3,768,272 1,654,625 Other income and other net (loss)/gain (48,625) 752,118 1,627,592 Selling and distribution expenses5 (1,915,373) (2,416,438) (1,662,029) Research and development expenses5 (2,588,117) (3,025,458) (4,004,476) Administrative and other operating expenses5 (11,203,672) (9,687,454) (10,559,225) Loss from operations (11,808,320) (10,608,960) (12,943,513) Fair value loss on financial assets at fair value through     profit or loss — (141,106) — Fair value gain/(loss) on warrant liabilities 105,210 (167,888) 926,739 Share of (loss)/profit of equity-accounted investees (329,512) (363,698) 54,567 Other finance costs (80,552) (27,479) (35,492) Loss before taxation (12,113,174) (11,309,131) (11,997,699) Income tax credit 75,307 89,234 11,544 Loss from continuing operations (12,037,867) (11,219,897) (11,986,155) Discontinued operation (Loss)/profit from discontinued operation, net of tax6 (28,963) 74,160 (2,094,298) Loss for the period (12,066,830) (11,145,737) (14,080,453) Other comprehensive income for the period Item that may be reclassified subsequently to profit or loss: Exchange difference on translation of foreign operations 474,278 (339,976) (480,209) Total comprehensive income for the period $         (11,592,552) $         (11,485,713) $         (14,560,662) Loss attributable to: Equity shareholders of Prenetics $         (10,672,236) $         (10,721,954) $         (13,570,455) Non-controlling interests (1,394,594) (423,783) (509,998) $         (12,066,830) $         (11,145,737) $         (14,080,453) Total comprehensive income attributable to: Equity shareholders of Prenetics $         (10,252,010) $         (10,924,679) $         (14,000,699) Non-controlling interests (1,340,542) (561,034) (559,963) $         (11,592,552) $         (11,485,713) $         (14,560,662) Loss per share: Basic $                    (0.84) $                    (0.88) $                    (1.16) Diluted (0.84) (0.88) (1.16) Loss per share - Continuing operations: Basic (0.84) (0.88) (0.98) Diluted (0.84) (0.88) (0.98) Weighted average number of common shares: Basic 12,722,810 12,222,337 11,743,434 Diluted 12,722,810 12,222,337 11,743,434       PRENETICS GLOBAL LIMITED Non-IFRS Financial Measures (Expressed in United States dollars unless otherwise indicated) Reconciliation of loss from operations from continuing operations under IFRS and adjusted EBITDA loss from continuing operations (Non-IFRS) Nine Months Ended September 30, September 30, 2024 2023 (Restated) Loss from operations from continuing operations under IFRS $         (31,576,195) $         (38,634,629) Employee equity-settled share-based payment expenses 4,861,707 10,632,798 Depreciation and amortization 4,530,392 5,106,206 Amortization of deferred expenses 6,195,173 6,064,443 Acquisition and transaction-related costs 1,824,210 — Strategic realignment and discontinued products impact 162,678 1,767,296 Finance income, exchange gain or loss, net (1,362,803) (3,579,732) Adjusted EBITDA loss from continuing operations (Non-IFRS) $         (15,364,838) $         (18,643,618)   Three Months Ended September 30, June 30, September 30, 2024 2024 2023 (Restated) Loss from operations from continuing operations     under IFRS $         (11,808,320) $         (10,608,960) $         (12,943,513) Employee equity-settled share-based payment expenses 1,388,861 1,535,578 4,348,329 Depreciation and amortization 1,377,068 1,433,769 1,703,843 Amortization of deferred expenses 2,061,966 2,044,934 2,062,142 Acquisition and transaction-related costs 1,025,900 798,310 — Strategic realignment and discontinued products impact 125,394 28,994 345,578 Finance income, exchange gain or loss, net 31,980 (694,194) (1,634,998) Adjusted EBITDA loss from continuing operations     (Non-IFRS) $           (5,797,151) $           (5,461,569) $           (6,118,619) ————————————————————————— 4 In connection with the acquisition of ACT Genomics, the remaining shareholders of ACT Genomics - representing 25.61% of the fully diluted shareholding of ACT Genomics that Prenetics does not own - were granted put options which allow these remaining shareholders to put their remaining shares to Prenetics under certain conditions. The liabilities arising from such put option are recorded as liabilities for puttable financial instrument, and are valued at the present value of the exercise price of the put option. As of September 30, 2024, the shareholding of ACT Genomics was diluted, with the remaining shareholders holding 26.73%. 5 Includes equity-settled share-based payment expenses from continuing operations as follows:   Nine Months Ended September 30, September 30, 2024 2023 (Restated) Direct costs $                    1,026 $                         — Selling and distribution expenses 5,054 100,561 Research and development expenses 2,258,374 2,891,754 Administrative and other operating expenses 2,360,340 7,576,866 Total equity-settled share-based payment expenses $             4,624,794 $           10,569,181   Three Months Ended September 30, June 30, September 30, 2024 2024 2023 (Restated) Direct costs $                           5 $                       440 $                         — Selling and distribution expenses 3,591 410 (3,307) Research and development expenses 689,530 810,450 1,530,858 Administrative and other operating expenses 504,597 699,991 2,798,696 Total equity-settled share-based payment expenses $             1,197,723 $             1,511,291 $             4,326,247 6 We ceased our COVID-19 testing business entirely in 2023 Q2, and other DNA testing operations in the EMEA regions in 2023 Q4. As a result, COVID-19 testing business and the operations in the EMEA regions are reported as a discontinued operation under IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. In accordance with IFRS 5, the results of the discontinued operation have been presented separately from the continuing operations in the consolidated statements of profit or loss and other comprehensive income.  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 119 加入收藏 :
111, Inc. Announces Third Quarter 2024 Unaudited Financial Results

Maintained Operational Profitability for the Third Consecutive Quarter Operating Expenses as a Percentage of Revenues Decreased 160 Basis Points YoY Held Positive Operating Cash Flow for Three Consecutive Quarters SHANGHAI, Nov. 27, 2024 /PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights Net revenues were RMB3.6 billion (US$513.1 million), remaining relatively flat compared to the same quarter last year. Gross segment profit (1) was RMB 210.6 million (US$ 30.0 million) increased by 10.5% year-over-year. Total operating expenses were RMB208.2 million (US$29.7 million), an improvement of 23.2% compared to RMB271.0 million in the same quarter of last year. As a percentage of net revenues, total operating expenses decreased by 160 basis points to 5.8% from 7.4% in the same quarter of last year, demonstrating continuous improvement in the Company's operational efficiency. Income from operations was RMB2.4 million (US$0.3 million), compared to loss from operations of RMB80.4 million in the same quarter of last year. 111 maintained operational profitability for the third consecutive quarter. Non-GAAP income from operations (2) was RMB7.1 million (US$1.0 million), compared to Non-GAAP loss from operations of RMB54.0 million in the same quarter of last year. Net cash from operating activities was RMB109.9 million (US$15.7 million). The Company has achieved positive operating cash flow for three consecutive quarters. (1) Gross segment profit represents net revenues less cost of goods sold. (2) Non-GAAP income from operations represents income from operations excluding share-based compensation expenses. Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, "While the macroeconomic environment in China continues to present challenges, we are proud of our ability to maintain operational profitability for the third consecutive quarter. This achievement is a testament to the strength of our business model as a one-stop shopping platform that offers the most comprehensive selection of pharmaceutical products at competitive prices. It also highlights our commitment to operational efficiency across the organization. As a result, income from operations in Q3 reached RMB2.4 million, a significant improvement from an operational loss of RMB80.4 million in the prior year." Mr. Liu added, "We gained greater operational efficiency through diligent cost management, ongoing infrastructure investments, and effective staffing arrangements, all of which has enabled us to navigate an unfavorable consumer spending environment while delivering solid performance results. Operating expenses were 5.8% of revenues, a reduction of 160 basis points compared to the previous year, while non-GAAP operating expenses as a percentage of revenues decreased by 100 basis points to 5.7%. We aim to lead the pharmaceutical e-commerce sector in efficiency and sharpen our competitive advantages. As we scale and optimize operations, we expect further cost savings, which will be reinvested into growth initiatives, including technological advancements, market expansion, and client base growth, driving future profitability." "We are strengthening our core competitiveness in digitalization through advancements across multiple areas, laying a strong foundation for an agile, highly efficient, and customer-centric business that can swiftly adapt to evolving industry needs. Additionally, we've bolstered our supply chain with an expanded transshipment network and new fulfillment centers, further enhancing our service capabilities." "Despite challenges, we are still confident in the long-term opportunities ahead. Our investments in AI and digital technologies are not only providing industry-leading efficiency and reshaping the healthcare value chain, but also positioning us to capture significant shifts in the pharmaceutical industry—particularly the unstoppable trend of digital transformation, the growing demand for out-of-hospital drug distribution, and the expansion of the silver economy. By deepening our partnerships with pharmaceutical companies, expanding our fulfillment network, refining our digital platforms, and prioritizing new growth engines, we are well-positioned to engage more industry stakeholders, meet the needs of a broad customer base, and generate sustained growth." Third Quarter 2024 Financial Results Net revenues were RMB3.6 billion (US$513.1 million), representing a decrease of 1.8% from RMB3.7 billion in the same quarter of last year. (In thousands RMB) For the three months ended September 30, 2023 2024 YoY B2B Net Revenue Product 3,556,749 3,514,298 -1.2 % Service 20,671 21,731 5.1 % Sub-Total 3,577,420 3,536,029 -1.2 % Cost of Products Sold(3) 3,406,320 3,340,998 -1.9 % Segment Profit 171,100 195,031 14.0 % Segment Profit % 4.8 % 5.5 %   (In thousands RMB) For the three months ended September 30, 2023 2024 YoY B2C Net Revenue Product 82,538 61,031 -26.1 % Service 5,287 3,615 -31.6 % Sub-Total 87,825 64,646 -26.4 % Cost of Products Sold     68,301 49,061 -28.2 % Segment Profit 19,524 15,585 -20.2 % Segment Profit % 22.2 % 24.1 %   (3) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses. Cost of service revenue is recorded in the operating expense. Operating costs and expenses were RMB3.6 billion (US$512.8 million), representing a decrease of 3.9% from RMB3.7 billion in the same quarter of last year. Cost of products sold was RMB3.4 billion (US$483.1 million), representing a decrease of 2.4% from RMB3.5 billion in the same quarter of last year. Fulfillment expenses were RMB100.0 million (US$14.2 million), representing a decrease of 1.6% from RMB101.6 million in the same quarter of last year. Fulfillment expenses accounted for 2.8% of net revenues this quarter, maintaining the same as last year. Selling and marketing expenses were RMB77.0 million (US$11.0 million), representing a decrease of 19.4% from RMB95.5 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB1.6 million for the quarter and RMB5.1 million for the same quarter last year, respectively, selling and marketing expenses as a percentage of net revenues accounted for 2.1% in the quarter as compared to 2.5% in the same quarter of last year. General and administrative expenses were RMB14.4 million (US$2.0 million), representing a decrease of 68.7% from RMB45.8 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB2.3 million for the quarter and RMB16.8 million for the same quarter last year, respectively, general and administrative expenses as a percentage of net revenues accounted for 0.3% in the quarter as compared to 0.8% in the same quarter of last year. Technology expenses were RMB17.5 million (US$2.5 million), representing a decrease of 30.9% from RMB25.4 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB0.9 million for the quarter and RMB4.5 million for the same quarter last year, respectively, technology expenses as a percentage of net revenues accounted for 0.5% in the quarter as compared to 0.6% in the same quarter of last year. Income from operations was RMB2.4 million (US$0.3 million), compared to loss from operations of RMB80.4 million in the same quarter of last year. Non-GAAP income from operations was RMB7.1 million (US$1.0 million), compared to non-GAAP loss from operations of RMB54.0 million in the same quarter of last year. Net loss was RMB3.5 million (US$0.5 million), representing an improvement of 96% from RMB83.5 million in the same quarter of last year. As a percentage of net revenues, net loss amounted to 0.1% in the quarter, down from 2.3% in the same quarter of last year. Non-GAAP net income (4) was RMB1.3 million (US$0.2 million), compared to non-GAAP net loss of RMB57.1 million in the same quarter of last year. Net loss attributable to ordinary shareholders was RMB17.1 million (US$2.4 million), representing an improvement of 82% from RMB93.3 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.5% in the quarter, down from 2.5% in the same quarter of last year. Non-GAAP net loss attributable to ordinary shareholders (5) was RMB12.4 million (US$1.8 million), representing an improvement of 82% from RMB66.9 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders, accounted for 0.3% in the quarter, down from 1.8% in the same quarter of last year. (4) Non-GAAP net income represents net income excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the third quarter 2024, non-GAAP net income is used as a meaningful measurement of the operation performance of the Company. (5) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. As of September 30, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB614.4 million (US$87.6 million), compared to RMB673.7 million as of December 31, 2023. To date, the Company has a total outstanding amount of RMB1.1 billion, which has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities, owed to a group of investors of 1 Pharmacy Technology pursuant to their equity investments made in 2020 as previously disclosed. 111 received redemption requests from certain of such investors in accordance with the terms of their initial investments in 1 Pharmacy Technology. Following communication and negotiation, the Company has reached agreements and/or commitment letters with investors representing approximately 90% of the total amount to reschedule the repayments, allowing for phased repayments at extended periods, if the holders exercise their redemption right. The Company has paid a portion of the repurchase funds upon signing of the agreements. Additionally, the Company is in ongoing discussions with investors holding the remaining approximately 10% of the total amount. For more information about the terms of 111's arrangements with these investors, see "Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources" in the Company's annual report for the fiscal year ended December 31, 2023. Conference Call 111's management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Wednesday, November 27, 2024 (8:30 PM Beijing Time on the same day). Details for the conference call are as follows: Event Title: 111, Inc. Third Quarter 2024 Unaudited Financial ResultsRegistration Link: https://s1.c-conf.com/diamondpass/10042738-te7sgd.html  All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique Registration ID, which can be used to join the conference call. Please dial in 15 minutes before the call is scheduled to begin and provide the Direct Event passcode and unique Registration ID you have received upon registering to join the call. A telephone replay of the call will be available after the conclusion of the conference call until December 4, 2024 via: China: 4001 209 216United States: +1 855 883 1031International: +61 7 3107 6325Conference ID: 10042738 A live and archived webcast of the conference call will be available on the website at https://edge.media-server.com/mmc/p/3nkscjv6. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding share-based compensation expenses. The Company defines non-GAAP net income (loss) as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company believes that non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income (loss) from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company's core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release. Exchange Rate Information Statement This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024. Forward-Looking Statements This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. About 111, Inc. 111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring. For more information on 111, please visit: http://ir.111.com.cn/. For more information, please contact: 111, Inc.Investor RelationsEmail: ir@111.com.cn  111, Inc.Media Relations Email: press@111.com.cnPhone: +86-021-2053 6666 (China)   111, Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data) As of As of December 31, 2023 September 30, 2024 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 603,523 531,981 75,807 Restricted cash 20,025 32,430 4,621 Short-term investments 50,143 50,000 7,125 Accounts receivable, net  536,823 425,159 60,585 Notes receivable 77,598 80,853 11,521 Inventories 1,419,396 1,532,170 218,332 Prepayments and other current assets 225,823 234,295 33,388 Total current assets 2,933,331 2,886,888 411,379 Property and equipment, net 34,340 25,558 3,642 Intangible assets, net 2,256 1,643 234 Long-term investments 2,000 1,000 142 Other non-current assets 13,310 15,684 2,235 Operating lease right-of-use asset 103,799 98,909 14,094 Total assets 3,089,036 3,029,682 431,726 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' DEFICIT Current liabilities: Short-term borrowings 338,075 168,517 24,013 Accounts payable 1,588,693 1,912,109 272,474 Accrued expense and other current liabilities  818,295 569,246 81,116 Total current liabilities 2,745,063 2,649,872 377,603 Long-term operating lease liabilities 62,624 63,969 9,116 Other non-current liabilities 5,245 8,331 1,187 Total liabilities 2,812,932 2,722,172 387,906 MEZZANINE EQUITY Redeemable non-controlling interests 870,825 943,774 134,487 SHAREHOLDERS' DEFICIT Ordinary shares Class A  32 33 5 Ordinary shares Class B  25 25 3 Treasury shares  (5,887) (5,887) (839) Additional paid-in capital 3,169,114 3,167,794 451,407 Accumulated deficit (3,819,249) (3,864,151) (550,637) Accumulated other comprehensive income 72,514 72,602 10,346 Total shareholders' deficit (583,451) (629,584) (89,715) Non-controlling interest (11,270) (6,680) (952) Total deficit (594,721) (636,264) (90,667) Total liabilities, mezzanine equity and deficit 3,089,036 3,029,682 431,726     111, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS  (In thousands, except for share and per share data) For the three months ended September 30, For the nine months ended September 30, 2023 2024 2023 2024 RMB RMB US$ RMB RMB US$ Net revenues 3,665,245 3,600,675 513,092 10,839,503 10,553,474 1,503,858 Operating costs and expenses:  Cost of products sold (3,474,621) (3,390,059) (483,080) (10,204,779) (9,926,727) (1,414,547)  Fulfillment expenses (101,602) (99,977) (14,247) (299,202) (276,559) (39,409)  Selling and marketing expenses (95,523) (76,954) (10,966) (274,880) (237,724) (33,875)  General and administrative expenses (45,839) (14,367) (2,047) (126,235) (50,747) (7,231)  Technology expenses (25,386) (17,549) (2,501) (75,243) (54,225) (7,727)  Other operating (expenses) income, net (2,696) 602 86 (2,723) 1,941 277 Total operating costs and expenses (3,745,667) (3,598,304) (512,755) (10,983,062) (10,544,041) (1,502,512) (Loss) Income from operations (80,422) 2,371 337 (143,559) 9,433 1,346  Interest income 2,362 1,533 218 6,517 5,574 794  Interest expense (5,433) (7,810) (1,113) (14,525) (23,067) (3,287)  Foreign exchange gain (loss) 79 642 91 (1,095) 40 6  Other income (loss), net 38 (193) (28) 4,552 (116) (17) Loss before income taxes (83,376) (3,457) (495) (148,110) (8,136) (1,158)  Income tax expense (102) (5) (1) (102) (93) (13) Net loss (83,478) (3,462) (496) (148,212) (8,229) (1,171) Net loss attributable to non-controlling interest 4,315 848 121 7,837 (431) (61) Net loss attributable to redeemable non-controlling interest 7,253 438 62 12,529 1,168 166 Adjustment attributable to redeemable non-controlling interest (21,391) (14,931) (2,128) (54,481) (37,410) (5,331) Net loss attributable to ordinary shareholders (93,301) (17,107) (2,441) (182,327) (44,902) (6,397) Other comprehensive loss  Unrealized gains of available-for-sale securities, 1,013 (407) (58) 3,936 (753) (107)  Realized gains of available-for-sale debt securities (841) 407 58 (3,558) 896 128  Foreign currency translation adjustments (1,690) (1,184) (169) 4,234 (55) (8) Comprehensive loss (94,819) (18,291) (2,610) (177,715) (44,814) (6,384) Loss per ADS:  Basic and diluted (1.10) (0.20) (0.02) (2.16) (0.52) (0.08) Weighted average number of shares used in computation of loss per share  Basic and diluted 169,088,015 171,938,537 171,938,537 168,179,779 171,526,062 171,526,062       111, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  (In thousands) For the three months ended September 30, For the nine months ended September 30, 2023 2024 2023 2024 RMB RMB US$ RMB RMB US$ Net cash provided by (used in) operating activities  35,208 109,865 15,656 (250,230) 311,563 44,397 Net cash provided by (used in) investing activities  5,163 49,845 7,103 91,913 (141) (20) Net cash provided by (used in) financing activities 110,452 (110,510) (15,748) 204,230 (370,453) (52,789) Effect of exchange rate changes on cash and cash equivalents, and restricted cash 2,621 (313) (45) 3,514 (106) (15) Net increase (decrease) in cash and cash equivalents, and restricted cash 153,444 48,887 6,966 49,427 (59,137) (8,427) Cash and cash equivalents, and restricted cash at the beginning of the period 612,774 515,524 73,462 716,791 623,548 88,855 Cash and cash equivalents, and restricted cash at the end of the period 766,218 564,411 80,428 766,218 564,411 80,428        111, Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results  (In thousands, except for share and per share data) For the three months ended September 30, For the nine months ended September 30, 2023 2024 2023 2024 RMB RMB US$ RMB RMB US$ (Loss) Income from operations (80,422) 2,371 337 (143,559) 9,433 1,346 Add: Share-based compensation expenses 26,402 4,756 678 74,818 15,122 2,155 Non-GAAP (loss) income from operations (54,020) 7,127 1,015 (68,741) 24,555 3,501 Net loss (83,478) (3,462) (496) (148,212) (8,229) (1,171) Add: Share-based compensation expenses, net of tax 26,402 4,756 678 74,818 15,122 2,155 Non-GAAP net (loss) income (57,076) 1,294 182 (73,394) 6,893 984 Net loss attributable to ordinary shareholders (93,301) (17,107) (2,441) (182,327) (44,902) (6,397) Add: Share-based compensation expenses, net of tax 26,402 4,756 678 74,818 15,122 2,155 Non-GAAP net loss attributable to ordinary shareholders (66,899) (12,351) (1,763) (107,509) (29,780) (4,242) Loss per ADS(6): Basic and diluted (1.10) (0.20) (0.02) (2.16) (0.52) (0.08) Add: Share-based compensation expenses per ADS(6), net of tax 0.32 0.06 0.00 0.88 0.18 0.02 Non-GAAP loss per ADS(6) (0.78) (0.14) (0.02) (1.28) (0.34) (0.06) (6) Every one ADS represents two Class A ordinary shares.      

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 375 加入收藏 :
JOYY Reports Net Profit of US$60.6 Million, Share Buybacks Surpass US$117.8 Million in Q3

SINGAPORE, Nov. 27, 2024 /PRNewswire/ -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the third quarter of 2024. For the third quarter, JOYY's revenue reached US$558.7 million, while the Company's core business segment, BIGO, generated revenues of US$496.0 million. JOYY's GAAP and non-GAAP operating income[1] were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. JOYY recorded a net profit and non-GAAP net profit[1] of US$60.6 million and US$61.2 million, for a GAAP and non-GAAP net margin[1] of 10.8% and 10.9%, respectively. BIGO's GAAP and non-GAAP operating income[1] reached US$62.7 million and US$72.9 million, respectively, marking sequential increases of 8.2% and 5.0%. The Company sustained its positive operating cash flows, generating US$61.1 million in the third quarter. During the third quarter, JOYY actively advanced shareholder returns by buying back an additional US$117.8 million worth of its shares. During the first three quarters of 2024, the Company has repurchased 7.31 million of its ADSs for a total of US$243.7 million, demonstrating confidence in the company's long-term prospects. Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "We continued to execute effectively on our strategic priorities during the third quarter, cultivating our global social and content ecosystem, and enhancing our global operational capabilities and efficiencies, which yielded solid results. Our group's GAAP and non-GAAP operating income were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. During the third quarter, we continued to cultivate long-term initiatives that will further diversify our revenue streams. Our Group non-livestreaming revenue grew by 13.1% to US$119.2 million quarter over quarter, contributing 21.3% of total revenues. Looking ahead, we remain focused on enhancing user experiences through product innovation, further diversifying our revenue streams, and advancing operational excellence across our global footprint. Supported by our strong cash flow and healthy financial position, we are well-positioned to deliver sustainable, profitable growth and create enduring value for our shareholders." Third Quarter 2024 Financial Highlights Net revenues in the third quarter of 2024 were US$558.7 million. Net income attributable to controlling interest of JOYY was US$60.6 million in the third quarter. Non-GAAP net income[1] attributable to controlling interest and common shareholders of JOYY was US$61.2 million in the third quarter. Third Quarter 2024 Business Highlights In the third quarter, Bigo Live sharpened its operational strategy by prioritizing advertising investments and operational resources toward developed countries and premium users, and simultaneously enhanced its content quality and social experiences to drive long-term user monetization potential. This targeted approach yielded strong results in core developed countries, where MAUs grew 3.4% year over year and 3.7% quarter over quarter, and paying users increased 9.1% year over year. Bigo Live also achieved encouraging momentum in the Middle East, where its revenue increased 5.6% sequentially. To further enhance its global content and social ecosystem, Bigo Live implemented a series of upgrades to boost the creation, quality, and distribution of content on its platform. For example, Bigo Live fine-tuned its content recommendation algorithms to better facilitate content sharing within same-language regions and expand cross-regional content flow between highly interactive markets. These enhancements streamlined its cross-regional content delivery and better served users' growing appetite for global content and social connections. In the last quarter, Bigo Live successfully hosted the third season of "BIGO's Most Talented", featuring categories in Music, Dance and Beauty Pageantry. The event attracted outstanding creators from around the world. Building on previous seasons, the third season introduced a more rounded judging system incorporating key audience engagement metrics. This allowed a seamless merger of interactive livestreaming elements with traditional talent show elements. The event resonated strongly with viewers, amassing an impressive 5.79 million audience votes. Bigo Live also strengthened bonds with its business partners and user community through a series of mid-year galas across Saudi Arabia, Vietnam, Thailand, and the Philippines. These gatherings brought together the cornerstone members of Bigo Live's ecosystem - top creators, users and partners - to celebrate their achievements and vital contributions to the platform's progress in the first half of the year. Bigo Live also further developed its social engagement features, prioritizing improvements to Real Match and messaging functionality. These upgrades drove deeper user connections and more efficient follow conversions. Notably, Real Match's average DAU penetration rate increased significantly to 23.4%, while the number of direct chat messages rose by 15.9% from the previous quarter. Bigo Live also achieved a 4.3% rise in average new follows per user. By directing traffic to premium hosts and upgrading interactive features, Bigo Live boosted creator participation and user engagement in multi-guest rooms. Bigo Live achieved a 3.9% sequential increase in the penetration rate of streamers in multi-guest rooms, alongside a 3.6% sequential increase in the overall rate of users going live as guest speakers. Likee remains rooted in the Middle East and European markets, where it continues to build momentum and enhance monetization across both livestreaming and advertising. As a result, Likee's advertising revenue grew 33.4% year over year in the third quarter, and Likee maintained its profitability. During the quarter, Likee elevated its user experience across its core markets through enhanced content quality, interactivity, and community engagement. A standout community-building initiative was its August music festival tour across five European cities, which brought together Likee's top creators, including music bloggers and dance groups, alongside established performers and celebrities. This unique event delivered an unprecedented interactive experience for the Likee community. In September, Likee served as the official media partner for Phygital Games 2024, providing eight days of livestreaming coverage to immerse users in the competitive prowess of top athletes in digital football, basketball, laser shooting, and simulated dance. Likee's expanded premium content offerings and content diversity drove a 12.3% quarter-over-quarter increase in users' video time spent. In the third quarter, Hago's targeted incentive strategy across different paying user segments drove improved monetization metrics. This strategy resulted in positive momentum in both its paying users and ARPPU, with its revenue growing 6.1% quarter over quarter. Hago maintained a positive operating cash flow in the third quarter, and its operating losses further narrowed. Hago's social engagement metrics also remained strong, with average time spent in social channels increasing 2.5% quarter over quarter to 105.8 minutes, and next-day retention rates showing sustained improvement. [1]. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports Third Quarter 2024 Unaudited Financial Results" issued by the Company on November 27, 2024.  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 119 加入收藏 :
X Financial Reports Third Quarter 2024 Unaudited Financial Results

SHENZHEN, China, Nov. 27, 2024 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company" or "we"), a leading online personal finance company in China, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Operational Highlights Three Months EndedSeptember 30, 2023 Three Months EndedJune 30, 2024 Three Months EndedSeptember 30, 2024 QoQ YoY Total loan amount facilitated andoriginated (RMB in million) 29,462 22,749 28,338 24.6 % (3.8 %) Number of active borrowers 1,809,815 1,642,605 1,965,248 19.6 % 8.6 % The total loan amount facilitated and originated[1] in the third quarter of 2024 was RMB28,338 million, compared with RMB29,462 million in the same period of 2023. Total number of active borrowers[2] was 1,965,248 in the third quarter of 2024, compared with 1,809,815 in the same period of 2023. As of September 30, 2023 As of June 30, 2024 As of September 30, 2024 Total outstanding loan balance (RMB in million) 49,685 41,804 45,766 Delinquency rates for all outstanding loans that are pastdue for 31-60 days 1.11 % 1.29 % 1.02 % Delinquency rates for all outstanding loans that are pastdue for 91-180 days 2.50 % 4.38 % 3.22 % The total outstanding loan balance[3] as of September 30, 2024 was RMB45,766 million, compared with RMB49,685 million as of September 30, 2023. The delinquency rate for all outstanding loans that are past due for 31-60 days[4] as of September 30, 2024 was 1.02%, compared with 1.11% as of September 30, 2023. The delinquency rate for all outstanding loans that are past due for 91-180 days[5] as of September 30, 2024 was 3.22%, compared with 2.50% as of September 30, 2023. [1] Represents the total amount of loans that the Company facilitated and originated during the relevant period. [2] Represents borrowers who made at least one transaction on the Company's platform during the relevant period. [3] Represents the total amount of loans outstanding for loans that the Company facilitated and originated at the end of the relevant period. Loans that are delinquent for more than 60 days are excluded in the outstanding loan balance, except for Xiaoying Housing Loans. As Xiaoying Housing Loans is a secured loan product and the Company is entitled to payment by exercising its rights to the collateral, the Company does not exclude Xiaoying Housing Loans delinquent for more than 60 days in the outstanding loan balance. [4] Represents the balance of the outstanding principal and accrued outstanding interest for Xiaoying Credit Loans that were 31 to 60 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for Xiaoying Credit Loans that the Company facilitated and originated as of a specific date. Xiaoying Credit Loans that are delinquent for more than 60 days are excluded when calculating the denominator. Starting from the first quarter of 2021, substantially all of the loans facilitated and originated by the Company have been Xiaoying Credit Loans. [5] To make the delinquency rate by balance comparable to the peers, the Company also defines the delinquency rate as the balance of the outstanding principal and accrued outstanding interest for Xiaoying Credit Loans that were 91 to 180 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for the Xiaoying Credit Loans that the Company facilitated and originated as of a specific date. Xiaoying Credit Loans that are delinquent for more than 180 days are excluded when calculating the denominator. Third Quarter 2024 Financial Highlights (In thousands, except for share and per share data) Three Months EndedSeptember 30, 2023 Three Months EndedJune 30, 2024 Three Months EndedSeptember 30, 2024 QoQ YoY  RMB  RMB  RMB Total net revenue 1,396,864 1,372,588 1,582,497 15.3 % 13.3 % Total operating costs and expenses (961,852) (909,535) (1,073,533) 18.0 % 11.6 % Income from operations 435,012 463,053 508,964 9.9 % 17.0 % Net income 347,190 415,303 375,840 (9.5 %) 8.3 % Non-GAAP adjusted net income 374,507 374,661 433,625 15.7 % 15.8 % Net income per ADS—basic 7.26 8.46 7.86 (7.1 %) 8.3 % Net income per ADS—diluted 7.02 8.28 7.74 (6.5 %) 10.3 % Non-GAAP adjusted net income per ADS—basic 7.80 7.62 9.12 19.7 % 16.9 % Non-GAAP adjusted net income per ADS—diluted 7.56 7.50 8.88 18.4 % 17.5 % Total net revenue in the third quarter of 2024 was RMB1,582.5 million (US$225.5 million), representing an increase of 13.3% from RMB1,396.9 million in the same period of 2023. Income from operations in the third quarter of 2024 was RMB509.0 million (US$72.5 million), compared with RMB435.0 million in the same period of 2023. Net income in the third quarter of 2024 was RMB375.8 million (US$53.6 million), compared with RMB347.2 million in the same period of 2023. Non-GAAP[6] adjusted net income in the third quarter of 2024 was RMB433.6 million (US$61.8 million), compared with RMB374.5 million in the same period of 2023. Net income per basic and diluted American depositary share ("ADS") [7] in the third quarter of 2024 was RMB7.86 (US$1.12) and RMB7.74 (US$1.10), compared with RMB7.26 and RMB7.02, respectively, in the same period of 2023. Non-GAAP adjusted net income per basic and diluted ADS in the third quarter of 2024 was RMB9.12 (US$1.30) and RMB8.88 (US$1.27), compared with RMB7.80 and RMB7.56, respectively, in the same period of 2023. [6] The Company uses in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income per basic share, and (v) adjusted net income per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. For more information on non-GAAP financial measure, please see the section of "Use of Non-GAAP Financial Measures Statement" and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release. [7] Each American depositary share ("ADS") represents six Class A ordinary shares. Mr. Kent Li, President of the Company, commented, "We are pleased to report another strong quarter, with loan volumes exceeding our forecast and a significant sequential improvement in asset quality. In the third quarter, we continued to promptly adjust loan volumes based on risk levels. As asset quality improved, we further intensified our borrower acquisition efforts, which have yielded very positive results. Both the top and bottom lines continued to grow year-over-year. Non-GAAP adjusted net income reached a new record high." "Specifically on the operational front, our total loan amount facilitated and originated was down 4% year-on-year but up 25% sequentially to RMB28 billion, above the high end of our guidance. Delinquency rates for all outstanding loans past due for 31-60 days and 91-180 days were 1.02% and 3.22%, respectively, at the end of the quarter, compared to 1.29% and 4.38% a quarter ago and 1.11% and 2.50% a year ago. We are pleased with these improvements in asset quality and will continue to optimize our risk management system through advanced technology." "In September this year, the Chinese government unveiled a comprehensive stimulus package aimed at improving liquidity, boosting the property market, stabilizing financial markets and stimulating consumption. We expect this will provide a meaningful boost to the macroeconomic recovery. As an integral part of the economy, the personal finance market we serve should benefit from this upturn. We have already observed positive signs in the market and are committed to adjusting loan volumes in line with risk levels. As a result of this favorable environment, we are raising our guidance and expect our monthly loan volume to exceed RMB10 billion in the fourth quarter, setting a new record." Mr. Frank Fuya Zheng, Chief Financial Officer of the Company, added, "I'm pleased to report that our strategy of balancing business growth and profitability continued to pay off. Total net revenue was RMB1.6 billion, up 13% year-on-year and 15% sequentially, while non-GAAP adjusted net income reached a record high of RMB434 million, up 16% year-on-year and sequentially. As we continue to deliver strong profitability and execute on our proven strategy, we have full confidence in our future. We will continue to execute our semi-annual dividend policy and explore opportunities under our share repurchase program to return more value to our shareholders over the long term." Third Quarter 2024 Financial Results Total net revenue in the third quarter of 2024 increased by 13.3% to RMB1,582.5 million (US$225.5 million) from RMB1,396.9 million in the same period of 2023, primarily due to growth in various disaggregated revenue items compared with the same period of 2023. Please refer to analysis of disaggregation of revenue below.  Three Months Ended September 30, (In thousands, except for share and per share data) 2023 2024 YoY  RMB  % of Revenue  RMB  % of Revenue Loan facilitation service 829,385 59.4 % 878,282 55.5 % 5.9 % Post-origination service 168,186 12.0 % 186,109 11.8 % 10.7 % Financing income 300,950 21.5 % 335,765 21.2 % 11.6 % Guarantee income 7,920 0.6 % 53,576 3.4 % 576.5 % Other revenue 90,423 6.5 % 128,765 8.1 % 42.4 % Total net revenue 1,396,864 100.0 % 1,582,497 100.0 % 13.3 % Loan facilitation service fees in the third quarter of 2024 increased by 5.9% to RMB878.3 million (US$125.2 million) from RMB829.4 million in the same period of 2023, primarily due to a decrease in the expected prepayment rates this quarter compared with the same period of 2023. Post-origination service fees in the third quarter of 2024 increased by 10.7% to RMB186.1 million (US$26.5 million) from RMB168.2 million in the same period of 2023, primarily due to the cumulative effect of increased volume of loans facilitated in the previous quarters. Revenues from post-origination services are recognized on a straight-line basis over the term of the underlying loans as the services are being provided. Financing income in the third quarter of 2024 increased by 11.6% to RMB335.8 million (US$47.8 million) from RMB301.0 million in the same period of 2023, primarily due to an increase in average loan receivables held by the Company compared with the same period of 2023. Guarantee income in the third quarter of 2024 was RMB53.6 million (US$7.6 million), compared with RMB7.9 million in the same period of 2023, due to the cumulative effect of increased volume of loans facilitated covered by guarantee service in the previous quarters compared with the same period of 2023. Revenues from guarantee service are recognized systematically when the Company released from the underlying risk. Other revenue in the third quarter of 2024 increased by 42.4% to RMB128.8 million (US$18.3 million), compared with RMB90.4 million in the same period of 2023, primarily due to an increase in referral service fee for introducing borrowers to other platforms. Origination and servicing expenses in the third quarter of 2024 increased by 13.6% to RMB457.5 million (US$65.2 million) from RMB402.9 million in the same period of 2023, primarily due to the increase in collection expenses resulting from the cumulative effect of increased volume of loans facilitated and originated in the previous quarters compared with the same period of 2023. Borrower acquisitions and marketing expenses in the third quarter of 2024 increased by 20.7% to RMB506.8 million (US$72.2 million) from RMB419.9 million in the same period of 2023, primarily due to intensified efforts in borrower acquisitions compared with the same period of 2023. Reversal of provision for loans receivable in the third quarter of 2024 was RMB35 thousand (US$5 thousand), compared with provision for loans receivable of RMB53.9 million in the same period of 2023, primarily due to a decrease in the average estimated default rate compared with the same period of 2023, and partially offset by an increase in loans receivable held by the Company as a result of the cumulative effect of increased volume of loans facilitated and originated in the previous quarters compared with the same period of 2023. Provision for contingent guarantee liabilities in the third quarter of 2024 was RMB56.4 million (US$8.0 million), compared with RMB41.6 million in the same period of 2023, primarily due to an increase in guarantee liabilities held by the Company as a result of the increased volume of loans facilitated covered by the guarantee service this quarter compared with the same period of 2023. Income from operations in the third quarter of 2024 was RMB509.0 million (US$72.5 million), compared with RMB435.0 million in the same period of 2023. Income before income taxes and gain from equity in affiliates in the third quarter of 2024 was RMB473.5 million (US$67.5 million), compared with RMB417.5 million in the same period of 2023. Income tax expense in the third quarter of 2024 was RMB100.3 million (US$14.3 million), compared with RMB74.2 million in the same period of 2023. Net income in the third quarter of 2024 was RMB375.8 million (US$53.6 million), compared with RMB347.2 million in the same period of 2023. Non-GAAP adjusted net income in the third quarter of 2024 was RMB433.6 million (US$61.8 million), compared with RMB374.5 million in the same period of 2023. Net income per basic and diluted ADS in the third quarter of 2024 was RMB7.86 (US$1.12), and RMB7.74 (US$1.10), compared with RMB7.26 and RMB7.02, respectively, in the same period of 2023. Non-GAAP adjusted net income per basic and diluted ADS in the third quarter of 2024 was RMB9.12 (US$1.30), and RMB8.88 (US$1.27), compared with RMB7.80 and RMB7.56 respectively, in the same period of 2023. Cash and cash equivalents was RMB1,044.1 million (US$148.8 million) as of September 30, 2024, compared with RMB1,612.2 million as of June 30, 2024. Recent Development Share Repurchase Plans On September 4, 2024, the Company further extended the period of the US$30 million share repurchase program until March 31, 2026. In the third quarter of 2024, the Company repurchased an aggregate of 1,689,722 Class A ordinary shares with 10,038 Class A ordinary shares represented by ADSs for a total consideration of approximately US$1.3 million. The Company has approximately US$4.1 million remaining for potential repurchases under its US$30 million share repurchase plan. As previously disclosed, on May 30, 2024, the Company announced that its board of directors authorized a new US$20 million share repurchase plan, effective through November 30, 2025. The Company completed a tender offer in July 2024 under the new share repurchase program, with a total repurchase amount of approximately US$9.2 million. The Company has approximately US$10.8 million remaining under its US$20 million plan. Business Outlook The Company expects the total loan amount facilitated and originated for the fourth quarter of 2024 to be between RMB30.0 billion and RMB31.0 billion. The total loan amount facilitated and originated for 2024 is expected to be between RMB102.6 billion and RMB103.6 billion. This forecast reflects the Company's current and preliminary views, which are subject to changes. Conference Call X Financial's management team will host an earnings conference call at 7:00 AM U.S. Eastern Time on November 27, 2024 (8:00 PM Beijing / Hong Kong Time on November 27, 2024). Dial-in details for the earnings conference call are as follows: United States: 1-888-346-8982 Hong Kong: 852-301-84992 Mainland China: 4001-201203 International: 1-412-902-4272 Passcode: X Financial Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call. A replay of the conference call may be accessed by phone at the following numbers until December 4, 2024: United States: 1-877-344-7529 International: 1-412-317-0088 Passcode:           3088426 Additionally, a live and archived webcast of the conference call will be available at http://ir.xiaoyinggroup.com. About X Financial X Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system. For more information, please visit: http://ir.xiaoyinggroup.com. Use of Non-GAAP Financial Measures Statement In evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors' assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income per basic share, and (v) adjusted net income per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024. Disclaimer Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "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. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law. Use of Projections This announcement also contains certain financial forecasts (or guidance) with respect to the Company's projected financial results. The Company's independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company's historical information. For more information, please contact: X FinancialMr. Frank Fuya ZhengE-mail: ir@xiaoying.com  Christensen IR In ChinaMr. Rene VanguestainePhone: +86-178-1749 0483E-mail: rene.vanguestaine@christensencomms.com  In USMs. Linda BergkampPhone: +1-480-614-3004Email: linda.bergkamp@christensencomms.com       X Financial Unaudited Condensed Consolidated Balance Sheets (In thousands, except for share and per share data) As of December 31, 2023 As of September 30, 2024 As of September 30, 2024  RMB  RMB USD  ASSETS   Cash and cash equivalents  1,195,352 1,044,144 148,789  Restricted cash, net  749,070 489,372 69,735  Accounts receivable and contract assets, net   1,659,588 1,709,428 243,592  Loans receivable from Credit Loans and other loans, net  4,947,833 4,938,195 703,687  Deposits to institutional cooperators, net  1,702,472 1,739,539 247,882  Prepaid expenses and other current assets, net  48,767 40,824 5,817  Deferred tax assets, net  135,958 192,644 27,452  Long term investments  493,411 491,782 70,078  Property and equipment, net  8,642 11,566 1,648  Intangible assets, net  36,810 36,236 5,164  Loan receivable from Housing Loans, net  8,657 6,494 925  Financial investments  608,198 866,804 123,519  Other non-current assets  55,265 53,259 7,589  TOTAL ASSETS  11,650,023 11,620,287 1,655,877  LIABILITIES   Payable to investors and institutional funding partners at amortized cost  3,584,041 2,406,552 342,931  Guarantee liabilities  61,907 102,638 14,626  Deferred guarantee income  46,597 106,054 15,113  Short-term borrowings  565,000 433,500 61,773  Accrued payroll and welfare  86,771 93,047 13,259  Other tax payable  289,819 292,939 41,743  Income tax payable  446,500 496,489 70,749  Accrued expenses and other current liabilities  595,427 732,591 104,394  Dividend payable  59,226 - -  Other non-current liabilities  37,571 30,915 4,405  Deferred tax liabilities  30,040 29,003 4,133  TOTAL LIABILITIES  5,802,899 4,723,728 673,126  Commitments and Contingencies   Equity:   Common shares  207 207 29  Treasury stock    (111,520) (155,007) (22,088)  Additional paid-in capital  3,196,942 3,194,909 455,271  Retained earnings  2,692,018 3,788,885 539,912  Other comprehensive income  69,477 67,568 9,628  Total X Financial shareholders' equity  5,847,124 6,896,562 982,752  Non-controlling interests  - - -  TOTAL EQUITY  5,847,124 6,896,562 982,752  TOTAL LIABILITIES AND EQUITY  11,650,023 11,620,290 1,655,878       X Financial Unaudited Condensed Consolidated Statements of Comprehensive Income  Three Months Ended September 30,   Nine Months Ended September 30,  (In thousands, except for share and per share data) 2023 2024 2024 2023 2024 2024  RMB   RMB   USD   RMB   RMB   USD  Net revenues Loan facilitation service 829,385 878,282 125,154 2,125,492 2,224,681 317,015 Post-origination service 168,186 186,109 26,520 429,775 493,520 70,326 Financing income 300,950 335,765 47,846 829,645 1,021,405 145,549 Guarantee income 7,920 53,576 7,635 7,920 132,067 18,819 Other revenue 90,423 128,765 18,349 229,388 291,387 41,522 Total net revenue 1,396,864 1,582,497 225,504 3,622,220 4,163,060 593,231 Operating costs and expenses: Origination and servicing[1] 402,939 457,545 65,200 1,123,027 1,299,164 185,129 Borrower acquisitions and marketing[1] 419,887 506,758 72,212 1,023,948 1,078,768 153,723 General and administrative[1] 40,200 49,499 7,054 114,833 127,047 18,104 Provision for accounts receivable and contract assets 3,748 4,799 684 5,983 22,470 3,202 (Reversal of) provision for loans receivable 53,946 (35) (5) 129,772 157,370 22,425 Provision for contingent guarantee liabilities 41,594 56,366 8,032 41,594 125,635 17,903 Change in fair value of financial guarantee derivative[2] - - - (24,966) - - Fair value adjustments related to Consolidated Trusts[2] (268) - - 531 - - (Reversal of) provision for credit losses for deposits and other financial assets (194) (1,399) (199) (427) 4,049 577 Total operating costs and expenses 961,852 1,073,533 152,978 2,414,295 2,814,503 401,063 Income from operations 435,012 508,964 72,526 1,207,925 1,348,557 192,168 Interest income (expenses), net (7,322) 1,211 173 (17,778) (4,898) (698) Foreign exchange (gain) loss 1,526 4,881 696 (7,255) (3,351) (478) Income (loss) from financial investments (16,490) (47,635) (6,788) (13,911) 53,887 7,679 Other income, net 4,742 6,048 862 23,005 9,437 1,345 Income before income taxes and gain from equity in affiliates 417,468 473,469 67,469 1,191,986 1,403,632 200,016 Income tax expense (74,172) (100,331) (14,297) (213,779) (254,924) (36,326) Gain from equity in affiliates, net of tax 3,894 2,702 385 19,619 5,572 794 Net income 347,190 375,840 53,557 997,826 1,154,280 164,484 Less: net income attributable to non-controlling interests - - - - - - Net income attributable to X Financial shareholders 347,190 375,840 53,557 997,826 1,154,280 164,484 Net income  347,190 375,840 53,557 997,826 1,154,280 164,484 Other comprehensive income, net of tax of nil: Gain (loss) from equity in affiliates 4 (449) (64) 45 (418) (60) Income from financial investments - 1,580 225 - 6,100 869 Foreign currency translation adjustments (6,301) (12,778) (1,821) 13,624 (7,590) (1,082) Comprehensive income 340,893 364,193 51,897 1,011,495 1,152,372 164,211 Less: comprehensive income attributable to non-controlling interests - - - - - - Comprehensive income attributable to X Financial shareholders 340,893 364,193 51,897 1,011,495 1,152,372 164,211 Net income per share—basic 1.21 1.31 0.19 3.47 3.96 0.56 Net income per share—diluted  1.17 1.29 0.18 3.43 3.87 0.55 Net income per ADS—basic 7.26 7.86 1.12 20.82 23.76 3.39 Net income per ADS—diluted  7.02 7.74 1.10 20.58 23.22 3.31 Weighted average number of ordinary shares outstanding—basic 287,806,370 285,857,203 285,857,203 287,412,729 291,622,784 291,622,784 Weighted average number of ordinary shares outstanding—diluted 297,114,127 292,339,641 292,339,641 291,209,263 298,036,305 298,036,305     [1] Starting in the first quarter of 2024, management has concluded to separate expenses related to borrower acquisitions from origination and servicing expenses and indirect expenses of the borrower acquisitions from general and administrativeexpenses to a single line item as theses expenses become more and more significant and thus deemed to be useful to financial statement users. Furtherly, management has determined to embed the sales and marketing expenses, which is notconsidered as material, in other line item. In conclusion, management has decided to combine these two line items into one captioned borrower acquisitions and marketing expenses. Management has correspondingly conformed prior periodpresentation to current period presentation to enhance comparability. This change in presentation does not affect any subtotal line on the face of consolidated statements of comprehensive income. (In thousands, except for share and per share data) Three Months Ended September 30, 2023 Changes before re-grouping after re-grouping RMB RMB RMB Origination and servicing 811,078 402,939 (408,139) Borrower acquisitions and marketing expenses - 419,887 419,887 Sales and marketing 3,360 - (3,360) General and administrative 48,588 40,200 (8,388) [2] Starting in the first quarter of 2024, management has considered the facts that fair value change related to financial guarantee services and Consolidated Trusts are generated from ordinary course of businesses, and has concluded to reclass theamount to captions above total operating costs and expenses. Prior to the reclassification, management classified all amount of fair value changes to captions below total operating costs and expenses. This reclassification does not have impact on netincome for any prior periods presented.       X Financial Unaudited Reconciliations of GAAP and Non-GAAP Results Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except for share and per share data) 2023 2024 2024 2023 2024 2024 RMB RMB USD RMB RMB USD GAAP net income 347,190 375,840 53,557 997,826 1,154,280 164,484 Less: Income (loss) from financial investments (net of tax of nil) (16,490) (47,635) (6,788) (13,911) 53,887 7,679 Less: Impairment losses on financial investments (net of tax of nil) - - - - - - Less: Impairment losses on long-term investments (net of tax) - - - - - - Add: Share-based compensation expenses (net of tax of nil) 10,827 10,150 1,446 34,178 30,096 4,289 Non-GAAP adjusted net income 374,507 433,625 61,791 1,045,915 1,130,489 161,094 Non-GAAP adjusted net income per share—basic 1.30 1.52 0.22 3.64 3.88 0.55 Non-GAAP adjusted net income per share—diluted  1.26 1.48 0.21 3.59 3.79 0.54 Non-GAAP adjusted net income per ADS—basic 7.80 9.12 1.30 21.84 23.28 3.32 Non-GAAP adjusted net income per ADS—diluted  7.56 8.88 1.27 21.54 22.74 3.24 Weighted average number of ordinary shares outstanding—basic 287,806,370 285,857,203 285,857,203 287,412,729 291,622,784 291,622,784 Weighted average number of ordinary shares outstanding—diluted 297,114,127 292,339,641 292,339,641 291,209,263 298,036,305 298,036,305      

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 288 加入收藏 :
2025 年 1 月 6 日 (星期一) 農曆十二月初七日
首 頁 我的收藏 搜 尋 新聞發佈