Exhibit 99.1
500.com Limited Condensed Consolidated Statements of Comprehensive Income (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”), except for number of shares, per share (or ADS) data) | ||||||||||||
Six Months Ended | ||||||||||||
June 30, 2016 | June 30, 2017 | June 30, 2017 | ||||||||||
RMB | RMB | US$ | ||||||||||
Unaudited | Unaudited | Unaudited | ||||||||||
Net Revenues | 3,459 | 37,751 | 5,569 | |||||||||
Operating costs and expenses: | ||||||||||||
Cost of services | (7,206 | ) | (11,541 | ) | (1,702 | ) | ||||||
Sales and marketing | (24,457 | ) | (25,951 | ) | (3,828 | ) | ||||||
General and administrative | (124,820 | ) | (104,454 | ) | (15,408 | ) | ||||||
Service development expenses | (39,818 | ) | (30,472 | ) | (4,495 | ) | ||||||
Total operating expenses | (196,301 | ) | (172,418 | ) | (25,433 | ) | ||||||
Other operating income | 919 | 84 | 12 | |||||||||
Government grant | 6,697 | 4,827 | 712 | |||||||||
Other operating expense | (1,494 | ) | (3,610 | ) | (533 | ) | ||||||
Operating loss | (186,720 | ) | (133,366 | ) | (19,673 | ) | ||||||
Others,net | - | (4,449 | ) | (656 | ) | |||||||
Interest income | 7,370 | 11,823 | 1,744 | |||||||||
Loss from equity method investments | (251 | ) | (721 | ) | (106 | ) | ||||||
Gain from disposal of subsidiaries | 64,778 | - | - | |||||||||
Changes in fair value of contingent considerations | - | (1,089 | ) | (161 | ) | |||||||
Loss before income tax | (114,823 | ) | (127,802 | ) | (18,852 | ) | ||||||
Income tax (expense) benefit | (9,731 | ) | 18,036 | 2,660 | ||||||||
Net loss | (124,554 | ) | (109,766 | ) | (16,192 | ) | ||||||
Less: Net (loss) income attributable to the non-controlling interests | (5,913 | ) | 5,177 | 764 | ||||||||
Net loss attributable to 500.com Limited | (118,641 | ) | (114,943 | ) | (16,956 | ) | ||||||
Other comprehensive income (loss) | ||||||||||||
Foreign currency translation gain (loss) | 25,960 | (28,556 | ) | (4,212 | ) | |||||||
Change in fair value of available for sale securities | 55 | (754 | ) | (111 | ) | |||||||
Other comprehensive income (loss), net of tax | 26,015 | (29,310 | ) | (4,323 | ) | |||||||
Comprehensive income (loss) | (98,539 | ) | (139,076 | ) | (20,515 | ) | ||||||
Less: Comprehensive (loss) income attributable to noncontrolling interests | (5,913 | ) | 5,177 | 764 | ||||||||
Comprehensive income (loss) attributable to 500.com Limited | (92,626 | ) | (144,253 | ) | (21,279 | ) | ||||||
Losses per share attributable to 500.com Limited | ||||||||||||
Basic | (0.29 | ) | (0.28 | ) | (0.04 | ) | ||||||
Diluted | (0.29 | ) | (0.28 | ) | (0.04 | ) | ||||||
Losses per ADS* attributable to 500.com Limited | ||||||||||||
Basic | (2.90 | ) | (2.81 | ) | (0.41 | ) | ||||||
Diluted | (2.90 | ) | (2.81 | ) | (0.41 | ) | ||||||
Weighted average number of Class A and Class B ordinary shares outstanding: | ||||||||||||
Basic | 416,199,358 | 408,699,104 | 408,699,104 | |||||||||
Diluted | 416,199,358 | 408,699,104 | 408,699,104 | |||||||||
* American Depositary Shares, which are traded on the NYSE. Each ADS represents ten Class A ordinary shares of the Company. |
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500.com Limited Reconciliation of non-GAAP results of operations measures to the nearest comparable GAAP measures (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”), except for number of shares, per share (or ADS) data) | ||||||||||||
Six Months Ended | ||||||||||||
June 30, 2016 | June 30, 2017 | June 30, 2017 | ||||||||||
RMB | RMB | US$ | ||||||||||
Unaudited | Unaudited | Unaudited | ||||||||||
Operating loss | (186,720 | ) | (133,366 | ) | (19,673 | ) | ||||||
Adjustment for share-based compensation expenses | 96,723 | 54,571 | 8,050 | |||||||||
Adjusted operating loss (non-GAAP) | (89,997 | ) | (78,795 | ) | (11,623 | ) | ||||||
Net loss attributable to 500.com Limited | (118,641 | ) | (114,943 | ) | (16,956 | ) | ||||||
Adjustment for share-based compensation expenses | 96,723 | 54,571 | 8,050 | |||||||||
Adjusted net (loss) income attributable to 500.com Limited (non-GAAP) | (21,918 | ) | (60,372 | ) | (8,906 | ) | ||||||
Earnings (Losses) per share attributable to 500.com Limited (non-GAAP) | ||||||||||||
Basic | (0.05 | ) | (0.15 | ) | (0.02 | ) | ||||||
Diluted | (0.05 | ) | (0.15 | ) | (0.02 | ) | ||||||
Earnings (Losses) per ADS* attributable to 500.com Limited (non-GAAP) | ||||||||||||
Basic | (0.53 | ) | (1.48 | ) | (0.22 | ) | ||||||
Diluted | (0.53 | ) | (1.48 | ) | (0.22 | ) | ||||||
Weighted average number of Class A and Class B ordinary shares outstanding: | ||||||||||||
Basic | 416,199,358 | 408,699,104 | 408,699,104 | |||||||||
Diluted | 416,199,358 | 408,699,104 | 408,699,104 | |||||||||
* American Depositary Shares, which are traded on the NYSE. Each ADS represents ten Class A ordinary shares of the Company. |
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