Fourth Quarter 2015 Financial Highlights
- Net revenues were
$33.6 million , an increase of 79.1% year-over-year. - Revenues from financial services were
$25.9 million , an increase of 95.1% year-over-year. - Revenues from financial information and advisory business were
$6.0 million , an increase of 142.2% year-over-year. - Gross margin was 81.8%, compared with 76.6% in the fourth quarter of 2014.
- Net income attributable to China Finance Online was
$10.0 million , an increase of 177.0% year-over-year.
Full Year 2015 Financial Highlights
- Net revenues increased 28.3% year-over-year to
$107.4 million . - Net revenues from financial services increased 28.2% to
$83.0 million . - Net revenues from financial information and advisory business increased 66.3% to
$17.2 million . - Gross profit increased 38.4% year-over-year to
$87.7 million . - Net income attributable to
China Finance Online was$22.5 million , compared to a net loss of$7.2 million in 2014.
Mr.
Fourth Quarter 2015 Financial Results
Net revenues were
Revenues from financial services were
Revenues from financial information and advisory business were
As of
Revenues from advertising were
Gross profit was
General and administrative expenses were
Sales and marketing expenses were
Research and development expenses were
Income from operations was
Net income attributable to
Fully diluted earnings per ADS was
As of
Total shareholders' equity of
Full Year 2015 Financial Results
Net revenues for the full year 2015 were
Revenues from financial services for the full year 2015 were
Revenues from financial information and advisory business for the full year 2015 were
Revenues from advertising for the full year 2015 were
Gross profit for the full year 2015 was
Net income attributable to
Fully diluted earnings per ADS was
Conference Call Information
The management will host a conference call on
US: 1-800-742-9301
Conference: ID: 84125759
Please dial in 10 minutes before the call is scheduled to begin and provide the conference ID to join the call.
A replay of the call will be available shortly after the conclusion of the conference call through
US: 1-855-452-5696
Conference ID: 84125759
In addition, a live and archived webcast of the conference call will be available at http://edge.media-server.com/m/p/7bbthspo.
About
Safe Harbor Statement
This press release contains forward-looking statements which 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. The statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, this release contains the following forward-looking statements regarding:
- our prospect and our ability to attract new users and continue to develop iTouGu;
- our prospect on building a comprehensive wealth management ecosystem through providing a fully-integrated online communication and securities-trading platform;
- our prospect on stabilization in cash attrition and improvement of our financial position;
- our initiatives to address customers' demand for intuitive online investment platforms and alternative investment opportunities; and
- the market prospect of the business of securities-trading, securities investment advisory and wealth management.
Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risk factors and uncertainties include, amongst others, the changing customer needs, regulatory environment and market condition that we are subject to; the uneven condition of the world and Chinese economy that could lead to volatility in the equity markets and affect our operating results in the coming quarters; the impact of the changing conditions of the mainland Chinese stock market,
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China Finance Online Co. Limited |
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
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|
(In thousands of U.S. dollars) |
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|
Dec. 31, 2015 |
Dec. 31, 2014 |
|
|
Assets |
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|
Current assets: |
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|
Cash and cash equivalents |
85,734 |
32,539 |
|
Restricted cash |
- |
5 |
|
Trust bank balances held on behalf of customers |
14,168 |
11,922 |
|
Accounts receivable, net - others |
12,007 |
12,885 |
|
Accounts receivable, net - margin clients |
4,368 |
1,699 |
|
Loan receivable |
- |
10,296 |
|
Consideration Receivable |
- |
13,401 |
|
Prepaid expenses and other current assets |
3,489 |
8,540 |
|
Deferred tax assets, current |
969 |
926 |
|
Total current assets |
120,735 |
92,213 |
|
Long-term investments, net |
1,782 |
1,218 |
|
Property and equipment, net |
5,789 |
4,863 |
|
Acquired intangible assets, net |
1,539 |
2,185 |
|
Rental deposits |
1,423 |
1,388 |
|
Goodwill |
6,700 |
7,090 |
|
Deferred tax assets, non-current |
20 |
72 |
|
Other deposits |
6,077 |
4,874 |
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Total assets |
144,065 |
113,903 |
|
Liabilities and equity |
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|
Current liabilities: |
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|
Deferred revenue, current (including deferred revenue, current of the |
6,659 |
4,936 |
|
Accrued expenses and other current liabilities (including accrued |
15,654 |
8,838 |
|
Amount due to customers for trust bank balances held on behalf of |
14,168 |
11,922 |
|
Accounts payable (including accounts payable of the consolidated |
5,494 |
9,852 |
|
Deferred tax liabilities, current (including deferred tax liabilities, current of |
15 |
580 |
|
Income taxes payable (including income taxes payable of |
1,768 |
314 |
|
Total current liabilities |
43,758 |
36,442 |
|
Deferred tax liabilities, non-current (including deferred tax liabilities, |
385 |
546 |
|
Deferred revenue, non-current (including deferred revenue, non-current |
692 |
1,373 |
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Total liabilities |
44,835 |
38,361 |
|
Noncontrolling interests |
11,191 |
10,926 |
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Total China Finance Online Co. Limited Shareholders' equity |
88,039 |
64,616 |
|
Total liabilities and equity |
144,065 |
113,903 |
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China Finance Online Co. Limited |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME |
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(in thousands of U.S. dollars, except share and ADS related data) |
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|
Three months ended |
The year ended |
||||
|
Dec. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2015 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
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Net revenues |
33,634 |
18,780 |
36,954 |
107,405 |
83,696 |
|
Cost of revenues |
(6,119) |
(4,388) |
(5,329) |
(19,739) |
(20,353) |
|
Gross profit |
27,515 |
14,392 |
31,625 |
87,666 |
63,343 |
|
Operating expenses |
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|
General and administrative(includes |
(5,712) |
(3,342) |
(3,218) |
(17,994) |
(17,592) |
|
Sales and marketing (includes share-based |
(16,362) |
(9,669) |
(13,130) |
(46,474) |
(43,761) |
|
Product development (includes share-based |
(2,716) |
(3,386) |
(2,506) |
(10,739) |
(11,148) |
|
Loss from impairment of intangible assets |
(250) |
- |
- |
(250) |
(1,802) |
|
Loss from impairment of goodwill |
- |
- |
- |
- |
(8,150) |
|
Total operating expenses |
(25,040) |
(16,397) |
(18,854) |
(75,457) |
(82,453) |
|
Government subsidies |
- |
206 |
153 |
252 |
659 |
|
Income (loss) from operations |
2,475 |
(1,799) |
12,924 |
12,461 |
(18,451) |
|
Interest income |
1,336 |
1,139 |
69 |
2,648 |
4,044 |
|
Interest expense |
- |
(1) |
- |
(1) |
(12) |
|
Short-term investment income, net |
79 |
36 |
70 |
216 |
58 |
|
Gain on the interest sold and retained |
10,000 |
- |
- |
10,000 |
- |
|
Gain from sale of cost method investment |
- |
4,338 |
- |
4,648 |
4,338 |
|
Loss from equity method investment |
(47) |
- |
(10) |
(67) |
- |
|
Other income (loss), net |
15 |
(573) |
(563) |
(937) |
18 |
|
Exchange gain (loss), net |
(161) |
63 |
(620) |
(766) |
(112) |
|
Income (loss) before income tax expenses |
13,697 |
3,203 |
11,870 |
28,202 |
(10,117) |
|
Income tax expenses |
(752) |
(66) |
(227) |
(1,384) |
(514) |
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Net income (loss) |
12,945 |
3,137 |
11,643 |
26,818 |
(10,631) |
|
Less: Net income (loss) attributable to the |
2,933 |
(478) |
1,905 |
4,335 |
(3,463) |
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Net income (loss) attributable to China Finance |
10,012 |
3,615 |
9,738 |
22,483 |
(7,168) |
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Net income (loss) |
12,945 |
3,137 |
11,643 |
26,818 |
(10,631) |
|
Changes in foreign currency translation |
(1,424) |
255 |
(2,076) |
(3,467) |
(221) |
|
Other comprehensive income (loss), net of tax |
(1,424) |
255 |
(2,076) |
(3,467) |
(221) |
|
Comprehensive income (loss) |
11,521 |
3,392 |
9,567 |
23,351 |
(10,852) |
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Less: comprehensive income (loss) attributable |
2,933 |
(478) |
1,905 |
4,335 |
(3,463) |
|
Comprehensive income (loss) attributable to China |
8,588 |
3,870 |
7,662 |
19,016 |
(7,389) |
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Net income (loss) per share attributable to China |
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|
Basic |
0.09 |
0.03 |
0.09 |
0.20 |
(0.07) |
|
Diluted |
0.08 |
0.03 |
0.08 |
0.18 |
(0.07) |
|
Loss per ADS |
|||||
|
Basic |
0.45 |
0.16 |
0.44 |
1.01 |
(0.33) |
|
Diluted |
0.40 |
0.14 |
0.39 |
0.90 |
(0.33) |
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Weighted average ordinary shares |
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|
Basic |
111,152,526 |
109,767,868 |
111,049,810 |
110,997,871 |
109,385,712 |
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Diluted |
125,948,776 |
124,990,589 |
124,074,231 |
125,129,763 |
109,385,712 |
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Weighted average ADSs |
|||||
|
Basic |
22,230,505 |
21,953,574 |
22,209,962 |
22,199,574 |
21,877,142 |
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Diluted |
25,189,755 |
24,998,118 |
24,814,846 |
25,025,953 |
21,877,142 |
For more information, please contact:
+86-10-8336-3100
ir@jrj.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-finance-online-reports-fourth-quarter-and-full-year-2015-unaudited-financial-results-300249179.html
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