Easy net net profit in the first quarter of 5 million 900 thousand U.S. dollars, down 76%


Easy net net profit in the first quarter of 5 million 900 thousand U.S. dollars, down 76%

Sina Technology News Beijing time in the evening of June 13th news, NYSE:BITA (NYSE:BITA) today issued the first quarter of fiscal 2018, the first quarter of March 31st, revenue of 2 billion 170 million yuan (about $346 million 100 thousand), an increase of 52.3% over the same period. The net loss was 2.883 yuan (US $46 million), compared with a net loss of 50 million 100 thousand yuan (US $8 million) over the same period last year. Based on non US general accounting standards, net profit was 37 million 100 thousand yuan (approximately $5 million 900 thousand), while net profit was 156 million 900 thousand yuan (about $25 million) in the same period of the same period in the previous year.

First quarter results:

Revenue was 2 billion 170 million yuan (US $346 million 100 thousand), an increase of 52.3% over the same period last year.

Revenue growth is mainly due to business services, advertising and subscription business, as well as revenue growth of digital marketing solutions business.

Revenue from advertising and subscription services was 787 million 500 thousand yuan (US $125 million 500 thousand), an increase of 16.3% over the same period last year.

Revenue from trading services business was 1 billion 170 million yuan (US $186 million 900 thousand), up 101% over the same period last year.

Revenue from digital marketing solutions business was 211 million 300 thousand yuan (US $33 million 700 thousand), up 28.2% over the same period last year.

The cost of the revenue was 821 million 400 thousand yuan (US $130 million 900 thousand), up 95.6% over the same period last year.

Gross profit was 1 billion 350 million yuan (US $215 million 200 thousand), an increase of 34.3% over the same period last year.

Sales and administrative expenses amounted to 1 billion 510 million yuan (US $240 million 800 thousand), an increase of 64% over the same period last year.

The R & D expenditure is RMB 160 million 400 thousand yuan (US $25 million 600 thousand), an increase of 37.3% over the same period last year.

The cost of equity awards is 150 million 100 thousand yuan (US $23 million 900 thousand), compared with 65 million 200 thousand yuan (US $10 million 400 thousand) in the same period last year.

The operating loss was RMB 313 million 300 thousand yuan (US $50 million), compared with a loss of 10 million 900 thousand yuan (US $1 million 700 thousand) in the same period last year.

Based on non - US general accounting standards, operating profit is RMB 8 million yuan (about $1 million 300 thousand), while operating profit of RMB 223 million 100 thousand yuan (about 35 million 600 thousand US dollars) in the same period of the previous year.

The income tax income is RMB 12 million 500 thousand yuan (US $2 million), while the income tax expenditure for the same period last year was RMB 59 million 300 thousand yuan (US $9 million 500 thousand).

The net loss was 2.883 yuan (US $46 million), compared with a net loss of 50 million 100 thousand yuan (US $8 million) over the same period last year. The basic and diluted losses per share of us depositary share (ADS) were 2.34 yuan (US $0.37) and 2.35 yuan (US $0.37) respectively.

Based on non US general accounting standards, net profit was 37 million 100 thousand yuan (approximately $5 million 900 thousand), while net profit was 156 million 900 thousand yuan (about $25 million) in the same period of the same period in the previous year. The basic and diluted earnings per share of us depositary share (ADS) are 0.88 yuan (US $0.14) and 0.84 yuan (US $0.13) respectively.

As of March 31, 2018, it had cash, cash equivalents and restricted cash of 10 billion 210 million yuan (US $1 billion 630 million). As of March 31, 2018, it had 8962 employees.

Appointment of CFO

Yi Che network today announced the appointment of Xu Ming (Ming Xu) as the chief financial officer (CFO) of the company to take over the current CFO He Xinxia (Cynthia He). In order to ensure a smooth transition, He Xinxia will continue to work on the Internet for several weeks.

Second quarter performance expectations:

The network is expected to reach 2 billion 470 million yuan (about $393 million 800 thousand) to RMB 2 billion 520 million yuan (about $410 million 700 thousand) in the second quarter of fiscal 2018, up 23.8% to 26.3% from the same period.

Teleconference:

The mobile network management team will hold a financial telephone conference at 8 a.m. (Beijing / Hongkong, June 13th at 8 p.m., June 13, 2018) in the United States. Http://ir.bitauto.com/, an investor relations channel of the web site, will live broadcast of the conference and provide recordings. (Li Ming)


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