BEIJING, May 12, 2014 /PRNewswire/ -- Ninetowns
Internet Technology Group Company Limited (Nasdaq: NINE)
("Ninetowns" or the "Company"), one of China's leading providers of online solutions
for international trade, today reported its financial results for
the six-month period and full year ended December 31, 2013.
Second Half 2013 Financial Highlights
- Total net revenues were RMB56.5
million (US$9.3 million),
representing a 21% increase compared to RMB46.5 million for the second half of 2012.
- Net loss was RMB28.9 million
(US$4.8 million) compared to net
income of RMB13.2 million for the
second half of 2012.
- Basic and diluted net loss per ADS (each ADS represents one
ordinary share) were RMB0.76
(US$0.13) and RMB0.76 (US$0.13),
respectively, compared to basic and diluted net income per ADS of
RMB0.35 and RMB0.32 for the second half of 2012.
Full Year 2013 Financial Highlights
- Total net revenues were RMB107.8
million (US$17.8 million),
representing a 19% increase compared to RMB90.4 million for 2012.
- Net loss was RMB13.9 million
(US$2.3 million) compared to net
income of RMB68.5 million for
2012.
- Basic and diluted net loss per ADS were RMB0.37 (US$0.06)
and RMB0.37 (US$0.06), respectively, compared to basic and
diluted net income per ADS of RMB1.81
and RMB1.67 for 2012.
Second Half and Full Year 2013 Business Highlights
Enterprise Software:
Ninetowns continued to derive a large portion of its total net
revenues from the sales and servicing of iDeclare packages, which
is Ninetowns' flagship import/export enterprise software solution.
During the second half of 2013, the Company sold 760 iDeclare
software packages and 8,621 iDeclare annual maintenance service
contracts. For the full year 2013, the Company sold 1,801 iDeclare
software packages and 18,105 iDeclare annual maintenance service
contracts. Enterprise to Government (B2G) revenues declined
slightly for the second half and full year 2013, which were
impacted by the lower level of import/export transactions as a
result of slower overall economic growth in China and adversely affected by the changes to
the Catalogue of Import and Export Commodities Subject to
Inspection and Quarantine by the Entry-Exit Inspection and
Quarantine Authorities (the "Catalogue") announced by the General
Administration of Quality Supervision, Inspection and Quarantine of
the PRC. In 2013, Ninetowns renewed annual maintenance service
contracts with approximately 18,105 users whose contracts were due
in 2013, representing approximately 12% of its users whose annual
maintenance service contracts were due in 2013.
In addition, during the second half of 2013, Ninetowns sold 26
annual maintenance service contracts to users who are currently
using the free software offered by the PRC Inspection
Administration. For the full year 2013, Ninetowns sold 107 such
maintenance service contracts, which represents a decrease from 379
maintenance service contracts sold in 2012. These contracts average
approximately RMB1500 (US$250) per contract per year. The maintenance
services covered by the annual maintenance service contracts
include installation, remote technical support, automatic upgrades
and user training.
As previously announced, Ninetowns expects its B2G net revenues
and B2G net income to be adversely affected by changes to the
Catalogue. On August 1, 2013, the
General Administration of Quality Supervision, Inspection and
Quarantine of the PRC announced certain changes to the Catalogue.
Beginning on August 15, 2013, 1,507
categories of items that were originally contained in the Catalogue
are no longer subject to quality inspection prior to export,
although 87 of these categories will continue to be subject to
animal and plant quarantine inspection prior to export. After these
new rule changes were announced, Ninetowns closely monitored the
market dynamics and lowered the selling price of iDeclare software
packages to attract more clients. These price reductions, however,
have yet to offset the negative impact of the global economic
slowdown and the new rule changes.
Food-Related
Business:
Ninetowns' food-related business continued its upward momentum
in 2013, benefitting from the ongoing investment and expansion of
the segment since its 2009 launch. Currently more than 3,000 food
and household products have been offered through the Company's
online grocery store www.tootoo.cn, including fresh organic fruits
and vegetables, seafood, snacks, drinks, fresh and frozen meat,
nutritional supplements and household supplies from 16 different
categories. Ninetowns continues to focus on the "guaranteed fresh"
delivery service through which fresh produce from the farms or the
Company's warehouses is delivered directly to customers located in
a number of residential communities in Beijing. Supported by the Company's advantages
in information technology, Ninetowns' product racking system,
warehouse management system and delivery date management system
enable efficient and low cost product storage and movement
control.
Revenue generated by the food-related business increased by
approximately 96% in 2013 compared to 2012, and represented 42% of
the total net revenues in 2013. This growth was mainly driven by an
increase in the volume of orders placed by customers. The Company's
food-related business has benefited from growing consumer demand
for fresh and healthy organic foods coupled with consumers'
preference for the speed and convenience that online shopping
offers. By further improving service quality and expanding
offerings in the year ahead, Ninetowns expects a greater revenue
contribution from the food-related business moving
forward.
Real Estate Development Business:
The Company's property development business seeks to leverage
Ninetowns' substantial experience in the technology field,
including the Internet of Things ("IOT") industry, and to
capitalize on the emerging niche real estate market in China that integrates IOT-related technology
with community life and urban operations.
The Company currently has development projects located in
China under planning or
construction. The Company expects continued focus of its management
and financial resources in support of development projects which it
believes may provide a stable source of long-term growth.
Management Discussion
Mr. Shuang Wang, Chief Executive
Officer of Ninetowns, commented, "We concluded 2013 with an
increase in the top line, thanks to the continued strong growth
from our food-related e-commerce business. Sales in our
import/export enterprise software and services business experienced
a decline in 2013 mainly due to negative macro factors including a
lukewarm global trade environment, an overall economic slowdown in
China and government mandated
changes to export inspection rules. We have been closely monitoring
the industry dynamics and adopted necessary measures to cope with
the macroeconomic headwinds. In the meantime, we are pleased to
report continued strong revenue contribution from our food-related
e-commerce business, which accounted for 42% of total net revenues
in 2013. Going forward, we intend to meet the demand for timely
delivery of healthy fresh foods and household products by further
expanding the scope and reach of our products and services and
improve our customers' experience. We expect revenue contribution
from our food-related e-commerce business will continue to grow. We
also intend to continue to focus on our property development
initiatives and will continue to invest time and management
resources in suitable property development projects to capture the
growth opportunities in China's
property market."
Mr. Tommy Fork, Chief Financial
Officer of Ninetowns, commented, "We are pleased to see an
increased top line against negative macro factors in 2013. We have
a healthy balance sheet with cash, cash equivalents and term
deposits of RMB421.6 million at the
end of 2013. The solid financial position well positions us for
further development in our food-related e-commerce business and
property development projects. However, as previously announced, we
expect our top line and bottom line to be adversely affected by the
new rule changes in our B2G segment. We are in the process of
reviewing our options in response to these new rule changes, while
recognizing that such options may be limited."
Second Half 2013 Financial Results
Total Net Revenues. Total net revenues increased
by 21% to RMB56.5 million
(US$9.3 million) for the second half
of 2013, from RMB46.5 million for the
second half of 2012.
Net revenues from the sales of enterprise software for the
second half of 2013 were RMB26.3
million (US$4.3 million),
representing 47% of total net revenues, as compared to RMB30.4 million for the second half of 2012. Net
revenues from software development services were RMB4.5 million (US$0.7
million) for the second half of 2013, representing 8% of
total net revenues, as compared to RMB3.8
million for the second half of 2012. Net revenues from the
food-related e-commerce business were RMB25.7 million (US$4.2
million) for the second half of 2013, representing 45% of
total net revenues in the second half of 2013, as compared to
RMB12.3 million for the second half
of 2012.
Gross Profit and Gross Margin. Gross profit was
RMB32.6 million (US$5.4 million) for the second half of 2013,
representing a decrease of 10% compared to RMB36.4 million for the second half of 2012.
Gross margin for the second half of 2013 was 58%, compared to 78%
in the second half of 2012.
Operating Expenses. Total operating expenses were
RMB53.1 million (US$8.7 million) for the second half of 2013,
representing an increase of 2% from RMB51.8
million in the second half of 2012, primarily due to
increases in sales and marketing expenses and research and
development expenses, which were partially offset by decreases in
general and administrative expenses.
Sales and marketing ("S&M") expenses were RMB14.2 million (US$2.3
million) for the second half of 2013, representing an
increase of 44% from RMB9.9 million
for the second half of 2012. This increase was mainly attributable
to an increase in (i) overall staff compensation as a result of an
increase in the number of our sales and marketing personnel and
(ii) advertising and exhibition expenses.
General and administrative ("G&A") expenses were
RMB29.0 million (US$4.8 million) for the second half of 2013,
representing a decrease of 15% from RMB34.0
million for the same period of 2012, primarily due to
decreases in fixed assets depreciation expenses, amortization of
intangible assets, legal and professional fees and share-based
compensation expenses relating to share options and restricted
shares granted to our directors, executive officers and certain
employees in prior years.
Research and development ("R&D") expenses were RMB9.9 million (US$1.6
million) for the second half of 2013, representing an
increase of 24% from RMB8.0 million
for the same period of 2012. This increase was mainly attributable
to an increase in the compensation of research and development
personnel as a result of a general increase in research and
development personnel headcount.
Operating Loss. Operating loss was RMB20.5 million (US$3.4
million) for the second half of 2013, compared to an
operating loss of RMB15.4 million for
the second half of 2012. The increase in operating loss was
primarily due to the decrease in gross profit in the second half of
2013.
Other Income (Loss) Other income (loss) primarily
consists of interest income, gain (loss) on sales of short-term
investments, changes in fair value of marketable options and losses
from equity method investments. Other loss was RMB8.7 million (US$1.4
million) for the second half of 2013, compared to other
income of RMB28.7 million for the
same period in 2012. This decrease was primarily due to losses on
short-term investments.
Income (Loss) before Income Tax and Non-controlling
Interest. Loss before income tax and non-controlling
interest was RMB29.1 million
(US$4.8 million) for the second half
of 2013, compared to income before income tax and non-controlling
interest of RMB13.3 million for the
same period in 2012.
Income Tax (Expense) Benefit. Income tax benefit
was RMB0.1 million (US$18,000) for the second half of 2013, compared
to income tax expense of RMB0.02
million for the second half of 2012, which was due to the
increase of deferred income tax assets as a result of timing
differences between the accounting and tax treatment on deferred
service revenue.
Net Income (Loss). Net loss was RMB28.9 million (US$4.8
million) for the second half of 2013, as compared to a net
income of RMB13.2 million for the
second half of 2012. Basic and diluted net loss per ADS for the
second half of 2013 were RMB0.76
(US$0.13) and RMB0.76 (US$0.13),
respectively, compared to basic and diluted net income per ADS of
RMB0.35 and RMB0.32 for the same period in 2012.
Full Year 2013 Financial Results
Total Net Revenues. Total net revenues for the
full year 2013 were RMB107.8 million
(US$17.8 million), representing an
increase of 19% compared to RMB90.4
million for the full year 2012. This revenue increase was
primarily due to the increase of net revenue from our food-related
e-commerce business in 2013.
Net revenues from enterprise software sales for the full year
2013 were RMB56.5 million
(US$9.3 million), representing 52% of
total net revenues in 2013, as compared to RMB59.8 million for the full year 2012. Net
revenues from software development services for the full year 2013
were RMB6.0 million (US$1.0 million), representing 6% of total net
revenues in 2013, compared to RMB7.5
million for the full year 2012. Net revenues from the
food-related business for the full year 2013 was RMB45.3 million (US$7.5
million), representing 42% of total net revenues in 2013,
compared to RMB23.1 million for the
full year 2012.
Gross Profit and Gross Margin. Gross profit was
RMB67.6 million (US$11.2 million) for the full year 2013, compared
to RMB69.7 million for the full year
2012. Gross margin for the full year 2013 was 63%, compared to 77%
for the full year 2012.
Operating Expenses. Total operating expenses
decreased by 3% to RMB107.0 million
(US$17.7 million) for the full year
2013 from RMB110.6 million for the
full year 2012.
S&M expenses increased by 19% to RMB25.7 million (US$4.2
million) for the full year 2013, from RMB21.6 million for the full year 2012. The
increase was caused mainly by increases in advertising and
exhibition expenses in our food-related e-commerce business in
2013.
G&A expenses decreased by 13% to RMB64.6 million (US$10.7
million) for the full year 2013 from RMB74.0 million for the full year 2012. This
decrease resulted primarily from decreases in fixed assets
depreciation expenses, amortization of intangible assets, legal and
professional fees and share-based compensation expenses relating to
share options and restricted shares granted to our directors,
executive officers and certain employees in prior years, partially
offset by increases in salaries and office expenses of our general
and administrative department.
R&D expenses increased by 12% to RMB16.7 million (US$2.8
million) for the full year 2013 from RMB14.9 million for the full year 2012. This
increase was mainly attributable to an increase in overall
compensation of research and development personnel as a result of
the increase in headcount and average compensation per person.
Operating Loss. As a result of the foregoing,
operating loss for the full year 2013 was RMB39.4 million (US$6.5
million), compared to an operating loss of RMB40.9 million for the full year 2012.
Other Income. Other income, which primarily
consists of interest income, gains on sales of short-term
investments, changes in fair value of marketable options and loss
from equity method investments, amounted to RMB26.0 million (US$4.3
million) for the full year 2013, as compared to other income
of RMB110.1 million for the full year
2012. This decrease was due primarily to a decrease in gains on
sales of short-term investments in 2013 compared to 2012.
Income (Loss) before Income Tax and Non-controlling
Interest. Loss before income tax and non-controlling
interest was RMB13.3 million
(US$2.2 million) for the full year
2013, compared to income before income tax and non-controlling
interest of RMB69.2 million for the
full year 2012.
Income Tax Expense. Income tax expense
decreased to RMB0.4 million
(US$70,000) for the full year 2013,
from RMB0.7 million in 2012,
primarily due to the increase of deferred income tax assets as a
result of timing differences between the accounting and tax
treatment on deferred service revenue.
Net Income (Loss). Net loss was RMB13.9 million (US$2.3
million) for the full year 2013, compared to net income of
RMB68.6 million for the full year
2012. Basic and diluted net loss per ADS for the full year 2013
were RMB0.37 (US$0.06) and RMB0.37 (US$0.06),
respectively, compared to basic and diluted net income per ADS of
RMB1.81 and RMB1.67 for the full year 2012.
Deferred Revenue. Deferred revenue as of
December 31, 2013 was RMB10.9 million (US$1.8
million), compared to RMB13.5
million as of December 31,
2012.
Cash, Cash Equivalents and Term Deposits. Cash,
cash equivalents and term deposits amounted to RMB421.6 million (US$69.6
million) as of December 31,
2013, compared to RMB255.2
million as of December 31,
2012.
Currency Convenience Translation
Our business is primarily conducted in China and a substantial majority of our
revenues are denominated in Renminbi. This announcement contains
translations of certain Renminbi amounts into U.S. dollar amounts
at specified rates solely for the convenience of readers. Unless
otherwise noted, all translations from Renminbi amounts into U.S.
dollar amounts as of and for the six months / twelve months ended
December 31, 2013, were made at an
exchange rate of RMB6.0537 to
US$1.00, representing the rate as
certified by the H.10 weekly statistical release of the Federal
Reserve Board on December 31, 2013.
Investor Conference Call / Webcast Details
A conference call has been scheduled for 8:00 a.m. in Beijing on May 13,
2014. This will be 8:00 p.m.
on May 12, 2014 in New York. During the call, Ninetowns'
management will be available to discuss the second half and full
year 2013 financial results and recent business activities.
The call may be accessed by dialing +1-866-519-4004 and the
passcode is 36681285. A live webcast of the conference call will be
available on Ninetowns' website at ir.ninetowns.com. A replay of
the call will be available from 11:00
a.m. Beijing time on
May 13, 2014 (11:00 p.m. in New
York on May 12, 2014) through
9:00 p.m. on May 19, 2014 in Beijing (9:00
a.m. in New York on
May 19, 2014) by telephone at
+1-855-452-5696 and through ir.ninetowns.com. The passcode to
access the replay is 36681285.
About Ninetowns Internet Technology Group Company
Limited
Ninetowns (Nasdaq: NINE) is a leading provider of online
solutions for international trade, with its key services in
automating import/export e-filing. Ninetowns has been listed on the
NASDAQ Stock Exchange since December 2004 under the
symbol "NINE." More information can be found
at ir.ninetowns.com.
Forward-Looking Statements
Certain statements in this press release include forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
can be identified by the use of forward-looking terminology, such
as "may," "will," "plan," "expect," "intend," "estimate,"
"anticipate," "believe," "project" or "continue" or the negative
thereof or other similar words. These statements are based upon the
current beliefs and expectations of the Company's management and
involve risks and uncertainties that are subject to changes based
on various factors (many of which are beyond the Company's
control), including, but not limited to, customer acceptance and
market share gains; competition from companies that have greater
financial resources; introduction of new products into the
marketplace by competitors; successful product development;
dependence on significant customers; the ability to recruit and
retain quality employees as the Company grows; and economic and
political conditions globally as well as those detailed in the
Company's filings with the Securities and Exchange Commission.
Actual results may differ materially from those discussed in, or
implied by, the forward-looking statements. The forward-looking
statements speak only as of the date of this release and the
Company assumes no duty to update them to reflect new, changing or
unanticipated events or circumstances.
Contacts:
Investor Relations (Beijing)
Daisy Wang, IR Manager
Ninetowns Internet Technology Group Company Limited
Phone: +86 (10) 6589 9904
Email: daisywang@ninetowns.com
Investor Relations (U.S.)
Roland Tomforde, Managing
Director
Taylor Rafferty
Phone: +1 (212) 889 4350
Email: ninetowns@taylor-rafferty.com
|
NINETOWNS INTERNET
TECHNOLOGY GROUP COMPANY LIMITED
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
FOR THE SIX MONTHS
ENDED DECEMBER 31, 2012, JUNE 30, 2013 AND DECEMBER 31,
2013
|
|
(In
thousands, except share-related data)
|
|
For the six months ended
|
|
Dec.
31,
|
Dec.
31,
|
June
30,
|
June
30,
|
Dec.
31,
|
Dec.
31,
|
|
2012
|
2012
|
2013
|
2013
|
2013
|
2013
|
|
RMB
|
US$
|
RMB
|
US$
|
RMB
|
US$
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
Total net
revenues
|
46,497
|
7,463
|
51,390
|
8,373
|
56,457
|
9,326
|
|
Total cost of
revenues
|
(10,054)
|
(1,614)
|
(16,407)
|
(2,673)
|
(23,816)
|
(3,934)
|
|
_______
|
_______
|
_______
|
_______
|
______
|
______
|
|
Gross
profit
|
36,443
|
5,849
|
34,983
|
5,700
|
32,641
|
5,392
|
|
|
|
|
|
|
|
|
Selling and marketing
expenses
|
(9,858)
|
(1,582)
|
(11,558)
|
(1,883)
|
(14,163)
|
(2,340)
|
|
General and
administrative expenses
|
(34,035)
|
(5,463)
|
(35,542)
|
(5,791)
|
(29,058)
|
(4,800)
|
|
Research and
development expenses
|
(7,952)
|
(1,276)
|
(6,797)
|
(1,107)
|
(9,862)
|
(1,629)
|
|
______
|
______
|
______
|
______
|
______
|
______
|
|
Loss from
operations
|
(15,402)
|
(2,472)
|
(18,914)
|
(3,081)
|
(20,442)
|
(3,377)
|
|
Interest
income
|
3,905
|
627
|
3,725
|
607
|
1,877
|
310
|
|
Gain (loss) on sales
of short-term investments
|
37,794
|
6,066
|
24,925
|
4,061
|
(18,399)
|
(3,039)
|
|
Change in fair value
of marketable options
|
(16,939)
|
(2,719)
|
865
|
141
|
(12)
|
(2)
|
|
(Loss) income from
equity method investments
|
(586)
|
(94)
|
73
|
12
|
(536)
|
(88)
|
|
Other
income
|
4,502
|
723
|
5,082
|
828
|
8,414
|
1,390
|
|
______
|
______
|
______
|
______
|
______
|
______
|
|
Income (loss)
before income tax and non-controlling interest
|
13,274
|
2,131
|
15,756
|
2,568
|
(29,098)
|
(4,806)
|
|
Income tax (expense)
benefit
|
(24)
|
(4)
|
(531)
|
(87)
|
107
|
18
|
|
______
|
_____
|
______
|
______
|
______
|
_____
|
|
Income (loss)
before non-controlling interest
|
13,250
|
2,127
|
15,225
|
2,481
|
(28,991)
|
(4,788)
|
|
Net loss (income)
attributable to non-controlling interest
|
(41)
|
(7)
|
(241)
|
(39)
|
125
|
21
|
|
______
|
______
|
______
|
______
|
______
|
______
|
|
Net income
(loss)
|
13,209
|
2,120
|
14,984
|
2,442
|
(28,866)
|
(4,767)
|
|
______
|
______
|
______
|
______
|
______
|
______
|
|
Net income(loss) per
share:
|
|
|
|
|
|
|
|
Basic
|
RMB0.35
|
US$0.06
|
RMB0.39
|
US$0.06
|
RMB(0.76)
|
US$(0.13)
|
|
Diluted
|
RMB0.32
|
US$0.05
|
RMB0.36
|
US$0.06
|
RMB(0.76)
|
US$(0.13)
|
|
______
|
______
|
______
|
______
|
______
|
______
|
|
Weighted average
number of shares used in computation:
|
|
|
|
|
|
|
|
Basic
|
37,814,016
|
37,814,016
|
37,964,170
|
37,964,170
|
38,007,770
|
38,007,770
|
|
Diluted
|
41,126,582
|
41,126,582
|
41,321,182
|
41,321,182
|
38,007,770
|
38,007,770
|
|
______
|
______
|
______
|
______
|
______
|
______
|
|
NINETOWNS INTERNET
TECHNOLOGY GROUP COMPANY LIMITED
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
FOR THE YEARS ENDED
DECEMBER 31, 2012 AND 2013
|
|
(In
thousands, except share-related data)
|
|
|
For the years
ended
|
|
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
|
2012
|
2012
|
2013
|
2013
|
|
RMB
|
US$
|
RMB
|
US$
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
Total net
revenues
|
90,387
|
14,509
|
107,847
|
17,815
|
|
Total cost of
revenues
|
(20,728)
|
(3,327)
|
(40,223)
|
(6,644)
|
|
______
|
______
|
______
|
______
|
|
Gross
profit
|
69,659
|
11,182
|
67,624
|
11,171
|
|
|
|
|
|
|
Selling and marketing
expenses
|
(21,647)
|
(3,475)
|
(25,721)
|
(4,249)
|
|
General and
administrative expenses
|
(74,034)
|
(11,883)
|
(64,600)
|
(10,671)
|
|
Research and
development expenses
|
(14,872)
|
(2,387)
|
(16,659)
|
(2,752)
|
|
______
|
______
|
______
|
______
|
|
Loss from
operations
|
(40,894)
|
(6,563)
|
(39,356)
|
(6,501)
|
|
Interest
income
|
5,718
|
917
|
5,602
|
925
|
|
Gain on sales of
short term investments
|
113,644
|
18,241
|
6,526
|
1,078
|
|
Change in fair value
of marketable options
|
(16,094)
|
(2,583)
|
853
|
141
|
|
Loss from equity
method investments
|
(857)
|
(138)
|
(463)
|
(76)
|
|
Other
income
|
7,706
|
1,237
|
13,496
|
2,229
|
|
______
|
______
|
______
|
______
|
|
Income (loss)
before income tax and non-controlling interest
|
69,223
|
11,111
|
(13,342)
|
(2,204)
|
|
Income tax
expense
|
(671)
|
(108)
|
(424)
|
(70)
|
|
______
|
_____
|
______
|
_____
|
|
Income (loss)
before non-controlling interest
|
68,552
|
11,003
|
(13,766)
|
(2,274)
|
|
Net loss (income)
attributable to non-controlling interest
|
(3)
|
*
|
(116)
|
(19)
|
|
______
|
______
|
______
|
______
|
|
Net income
(loss)
|
68,549
|
11,003
|
(13,882)
|
(2,293)
|
|
______
|
______
|
______
|
______
|
|
Net income (loss) per
share:
|
|
|
|
|
|
Basic
|
RMB1.81
|
US$0.29
|
RMB(0.37)
|
US$(0.06)
|
|
Diluted
|
RMB1.67
|
US$0.27
|
RMB(0.37)
|
US$(0.06)
|
|
______
|
______
|
______
|
______
|
|
Weighted average
number of shares used in computation:
|
|
|
|
|
|
Basic
|
37,780,134
|
37,780,134
|
37,986,150
|
37,986,150
|
|
Diluted
|
41,092,700
|
41,092,700
|
37,986,150
|
37,986,150
|
|
______
|
______
|
______
|
______
|
|
* Less than
US$1
|
|
|
|
|
|
NINETOWNS INTERNET
TECHNOLOGY GROUP COMPANY LIMITED
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
AS OF DECEMBER 31,
2012 AND 2013
|
|
(In
thousands)
|
|
Dec.
31,
|
Dec.
31,
|
|
2012
|
2012
|
2013
|
2013
|
|
RMB
|
US$
|
RMB
|
US$
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash, cash
equivalents and term deposits
|
255,178
|
40,959
|
421,600
|
69,643
|
|
Restricted
cash
|
84
|
13
|
84
|
14
|
|
Short-term
investments
|
290,513
|
46,630
|
21,490
|
3,550
|
|
Inventories
|
3,527
|
566
|
3,931
|
649
|
|
Trade
receivables, net
|
2,327
|
373
|
8,520
|
1,407
|
|
Assets held
for sale, current
|
—
|
—
|
95,591
|
15,791
|
|
Other current
assets
|
46,591
|
7,480
|
9,793
|
1,618
|
|
_______
|
_______
|
_______
|
_______
|
|
Total current
assets
|
598,220
|
96,021
|
561,009
|
92,672
|
|
Assets held for sale,
long lived
|
—
|
—
|
357,340
|
59,028
|
|
Other non-current
assets
|
797,836
|
128,061
|
452,042
|
74,673
|
|
_______
|
_______
|
_______
|
_______
|
|
TOTAL
ASSETS
|
1,396,056
|
224,082
|
1,370,391
|
226,373
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Deferred
revenue
|
13,472
|
2,162
|
10,872
|
1,796
|
|
Liabilities
held for sale
|
—
|
—
|
277,070
|
45,769
|
|
Other current
liabilities
|
62,622
|
10,053
|
49,646
|
8,201
|
|
_______
|
_______
|
_______
|
_______
|
|
Total current
liabilities
|
76,094
|
12,215
|
337,588
|
55,766
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred
subsidies
|
276,200
|
44,333
|
—
|
—
|
|
Tax
liabilities
|
4,766
|
765
|
4,766
|
787
|
|
_______
|
_______
|
_______
|
_______
|
|
Total
liabilities
|
357,060
|
57,313
|
342,354
|
56,553
|
|
|
|
|
|
|
Total
equity
|
1,038,996
|
166,769
|
1,028,037
|
169,820
|
|
_______
|
_______
|
_______
|
_______
|
|
TOTAL LIABILITIES
AND EQUITY
|
1,396,056
|
224,082
|
1,370,391
|
226,373
|
SOURCE Ninetowns Internet Technology Group Company Limited