HONG KONG, March 26, 2015 /PRNewswire/ -- NetDragon Websoft
Inc. ("NetDragon" or "the Company") (Hong Kong Stock Code:
0777), a leading developer and
operator of online games and mobile internet platforms in
China, today announced its
financial results for the fourth quarter and fiscal year ended
December 31, 2014. A conference call
and webcast is scheduled at 8 p.m.
Hong Kong Time on March 26, 2015 to
discuss the results and recent business developments.
Fiscal Year 2014 Financial Highlights
- Revenue was RMB962.8 million, an
increase of 8.9% from RMB 884.5
million last year.
- Operating profit was RMB252.0
million, an increase of 24.3% from RMB202.8 million last year.
- Profit from continuing operations attributable to owners of the
Company was RMB176.7 million, an
increase of 7.5% from RMB164.4
million last year.
- Basic and diluted earnings per share were RMB34.77 cents and RMB34.22 cents, respectively.
Fourth quarter 2014 Financial Highlights
- Revenue was RMB282.9 million, an
increase of 21.6% quarter-over-quarter and 23.5%
year-over-year.
- Gross profit was RMB246.5
million, an increase of 17.9% quarter-over-quarter and 19.7%
year-over-year.
- Operating profit was RMB4.0
million, a decrease of 93.2% quarter-over-quarter and an
increase from an operating loss of RMB1.7
million during the same period of 2013.
- Non-GAAP operating profit[1] was RMB13.5 million, a decrease of 79.7%
quarter-over-quarter and an increase of 19.4% year-over-year.
- Loss attributable to owners of the Company was RMB19.4 million, compared to profit attributable
to owners of the Company of RMB52.6
million during the previous quarter. Non-GAAP profit
attributable to owners of the Company, which excludes several
non-core operational items, was RMB6.8
million.
- Basic and diluted losses per share were RMB3.78 cents and RMB3.82
cents, respectively.
- The Board of Directors has proposed a final dividend of
HK$0.20 per share subject to the
approval by shareholders at the Annual General Meeting.
Fourth quarter 2014 Operational Highlights[2]
- Peak concurrent users ("PCU") for online games were
642,000.
- Average concurrent users ("ACU") for online games were
301,000.
"We experienced a healthy 8.9% increase in revenue to
RMB962.8 million during the year as
we further consolidated our market position in the gaming space and
pushed forward with the development of our online education
platform," commented Mr. Dejian Liu,
Chairman and Executive Director of NetDragon. "Our online games
business continues to gain strong growth momentum during the
quarter with peak concurrent users reaching 642,000 as revenues
increased 6.7% year-over-year to RMB221.5
million. One of our newest games, Calibur of Spirit,
continues to gain strong user traction following its selection for
the World Cyber Arena last fall. We signed an exclusive
China licensing agreement with
Tencent and officially launched the
game in January 2015 where it
achieved record-high MAU of 7 million that month and monthly gross
revenue over RMB21.0 million in
February 2015. With such a strong
performance at the beginning of its lifespan, we are confident that
this game will develop into a substantial long-term new revenue
stream as large scale marketing campaigns get underway and new
updates are launched throughout the year. We launched new expansion
packs for our flagship games during the period including an English
version for Conquer Online which generated an 11-year high monthly
revenue in December 2014. We are also
excited to beta-launch Tiger Knight later this year."
"We continued to incubate our mobile games business during the
quarter and have seen encouraging progress from Eudemons Online
Pocket Version which was officially launched in January 2015 and is expected to register over
RMB10 million in monthly gross
revenue in March 2015. The iOS and
Android versions of Blade & Sword continue to make steady
progress through the various stages of development while the Arabic
version of The Pirate remains extremely popular across the
Middle East and North Africa where it is expected to continue
to grow as new updates are launched."
"NetDragon's new strategic business focus continues to be its
online education business which completed a round of series A
preference shares funding of US$52.5
million in February 2015. The
participation of globally renowned investors demonstrates the
confidence they have in our unique position to leverage our proven
world-class mobile internet and gaming expertise, large-scale
technology resources and team infrastructure to build an online and
mobile education ecosystem. We are making very solid progress in
the design and development of our educational products, and remain
on track to gradually roll them out as each development milestone
is achieved. We expect to make exciting announcements in the coming
months regarding our overall product strategy and the unique value
proposition we can create for students, educators and
parents."
Mr. Ben Yam, Chief Financial
Officer, added, "Non-GAAP profit for the quarter was
RMB4.1 million which is a blended
figure combining our highly profitable gaming business and our
online education business which is currently in product development
stage. During the quarter, our online games business achieved
revenue growth of 6.7% year-over-year and 9.8% sequentially with a
stable operating cost structure. We also continue to invest heavily
in the development of educational products which requires
significant investments in staff costs and has reduced the blended
profitability in the short-term. These investments however, are the
best use of our cash and demonstrate our commitment to building an
online education business that will become another cornerstone for
our long-term success."
[1] See the 'Non-GAAP
Financial Measures' section at the bottom of this release for more
details
|
[2] PCU and ACU
include the Company's new micro-client game Calibur of
Spirit
|
Fourth quarter 2014 Unaudited Financial Results
Revenue
Revenue was RMB282.9 million, an
increase of 21.6% from RMB232.7
million in the previous quarter and 23.5% from RMB229.0 million during the same quarter last
year.
Revenue from online games and other business generated from
China was RMB229.0 million, an increase of 16.9% from
RMB195.9 million in the previous
quarter and 11.6% from RMB205.2
million in the same quarter last year. The increase in
revenue was mainly due to the strong performance of Eudemons Online
and Calibur of Spirit.
Revenue from online games and other business generated from
overseas markets was RMB53.9 million,
an increase of 46.2% from RMB36.8
million in the previous quarter and 126.0% from RMB23.8 million in the same quarter last year due
to the growth in the Company's mobile solutions and marketing
business operated by its Hong
Kong-based subsidiary Cherrypicks.
Gross profit and gross margin
Gross profit was RMB246.5 million,
an increase of 17.9% from RMB209.2
million in the previous quarter and 19.7% from RMB205.9 million in the same quarter last year.
Gross margin was 87.2%, compared with 89.9% in the previous quarter
and 89.9% in the same quarter last year. The decreases in gross
margin were partly due to the inclusion of Cherrypicks which
generates lower gross margins when compared with NetDragon's online
games business.
Operating expenses
Selling and marketing expenses were RMB51.2 million, representing an increase of
32.8% from RMB38.6 million in the
previous quarter, and 61.6% from RMB31.7
million during the same period last year. The increase in
selling and marketing expenses was mainly due to the increase in
advertising and promotional expenses of Eudemons Online and Calibur
of Spirit.
Administrative expenses were RMB120.9
million, representing an increase of 55.9% from RMB77.5 million during the third quarter of 2014
and a decrease of 14.2% from RMB140.9
million during the same period last year. The
quarter-over-quarter increase in administrative expenses was mainly
due to the increase in (i) staff costs; and (ii) depreciation and
amortization. The year-over-year decrease in administrative
expenses was mainly due to the (i) decrease in exchange loss on
foreign currencies; and (ii) expenditure of domain name during the
same period last year.
Development costs were RMB89.3
million, representing an increase of 32.6% from RMB67.3 million during the third quarter of 2014
and an increase of 100.8% from RMB44.5
million during the same period last year. The sequential and
year-over-year increases in development costs was mainly due to
increases in (i) staff costs; and (ii) outsourcing fees.
Other expenses were RMB12.0
million, representing an increase of 226.7% from
RMB3.7 million during the third
quarter of 2014 and 126.4% from RMB5.3
million during the same period last year. The sequential and
year-over-year increases in other expenses was mainly due to the
increase in allowances on trade receivables.
Operating profit
Operating profit from continuing operations was RMB4.0 million, a decrease of 93.2% from
RMB57.7 million in the third quarter
of 2014, and an increase from an operating loss of RMB1.7 million in the same quarter last year.
Taxation
Taxation was RMB9.4 million, an
increase of 126.6% from RMB4.2
million during the third quarter of 2014 and a decrease of
43.7% from RMB16.8 million during the
same quarter last year. The sequential increase in taxation was
mainly due to an under provision for tax in 2014 while the
year-over-year decrease was mainly due to the decrease in taxable
profit.
(Loss) profit for the
period from continuing
operations
Loss from continuing operations was RMB22.2 million, compared with profit of
RMB52.4 million in the previous
quarter and loss of RMB2.7 million in
the same quarter last year.
Non-GAAP profit from continuing operations, which excludes a net
loss on held-for-trading investments (which tend to fluctuate
quarter-to-quarter), an exchange loss and amortization of
intangible assets resulting from the acquisition of Cherrypicks
last year, was RMB4.1 million during
the fourth quarter of 2014.
Liquidity
As of December 31, 2014, NetDragon had bank deposits,
bank balances, cash, pledged bank deposits and held-for trading
liquid investments of approximately RMB3,484.8 million, compared with RMB4,483.7 million as of December 31, 2013.
Business Review and Outlook
Games
On October 26th, 2014, NetDragon
began beta testing "Goddess Era," a
new expansion pack for Eudemons Online that introduces the "Goddess
Gifts" system and allows players to enhance their character's
attributes free of charge. The new expansion pack, which enhances
gameplay and increases user stickiness, is expected to begin closed
beta testing during the first half of 2015. Eudemons Online
celebrated its anniversary in March
2015 with in-game activities. Conquer Online, the Company's
other flagship title, also launched a new expansion pack "King of
Kungfu" in October 2014. By adding
new classes to the game, the expansion pack provides more
excitement for players. The English, French, Spanish and Arabic
versions of Conquer Online's expansion pack were also launched
overseas. A class-updated version of Conquer Online -- The
Rhapsody of Ice and Fire: Taoist Ascending will be launched during
the first half of 2015 and is expected to maintain the game's
market share overseas. Revenue generated by the English version of
Conquer Online in December 2014
reached an 11-year high as a result of the enhanced competitiveness
of the game in various countries and regions worldwide.
Calibur of Spirit, NetDragon's first MOBA web micro-client game,
officially began open-beta testing on January 16, 2015, achieving MAU of 7 million that
month and over RMB21.0 million in
monthly gross revenue in February
2015 demonstrating the Company's world-class game-design and
development capabilities. The game was previously selected for the
2014 World Cyber Arena held in Yinchuan, China in October
2014. Marketing and promotional events have rapidly
increased the game's operational metrics. The Company also signed
an exclusive China licensing
agreement for Calibur of Spirit with Tencent at the end of 2014. NetDragon is
confident that revenue from this game will grow substantially as
large scale publicity campaigns get underway. The Portuguese and
Spanish versions of Calibur of Spirit have already been completed
and are scheduled to begin testing in Latin America and Europe in the first half of 2015. The
Company's in-house developed 3D action war game Tiger Knight began
its first round of internal beta testing during the fourth quarter
of 2014 and will begin its second round during the second quarter
of 2015. A new expansion pack for Way of the Five was launched
during the quarter along with annual celebration activities which
began on March 7, 2015.
NetDragon continued to release content updates for its mobile
game including one for the Arabic version of The Pirate in the
fourth quarter of 2014 in an effort to solidify its existing player
base as well as to seek out new players. This resulted in new
record high monthly gross revenue in October
2014. The Company is committed to its strategy of developing
high-quality products and continues to develop mobile products to
ensure their success in an increasingly competitive market. The iOS
version of Blade & Sword, NetDragon's self-developed mobile
2.5D martial arts role-play game, finished closed beta testing in
November 2014 and is currently
undergoing closed beta testing of its iOS version with the Android
version expected to begin closed beta testing in the first quarter
of 2015. Martial Overlord, a mobile 3D martial arts action game,
began channel testing in November
2014 and its second round of beta-testing in March 2015. The iOS version of Eudemons Online
Pocket Version was officially launched on Apple's AppStore in
January 2015 with open beta testing
for the Android version beginning at the same time. Waku &
Maou, is a real-time strategy-based collectible mobile card game
which began being operated by China's leading mobile game publisher in
January 2015. The Android version
began its first round of closed beta testing in January 2015 with open beta testing for the
Android and iOS version expected to begin during the first half of
2015.
Online and Mobile Education
The Company made very strong progress in research and
development, pedagogy integration, content partnership and
acquisition, sales channel build-out and M&A discussions for
its online and mobile education business during the fourth quarter
and fiscal year 2014.
Research & Development -- The Company's
educational product design and R&D team currently comprises of
over 350 staff. With world-class leadership, the team focuses on
the design and development of both software and hardware, and over
the course of 2014, has achieved many milestones in the development
of high-quality and differentiated software. The Company's 101
student tablet, which has also gone through multiple design
iterations, will be commercially launched during the third quarter
of 2015. The Company's product development roadmap to create a
holistic, integrated total-solution for online and mobile education
remains unchanged. The initial version of the commercialized
product will be focused on enabling best-in-class interconnectivity
in the classroom, and will create true value through a
transformational yet easy-to-learn educational solution for
teachers and students. The Company will update the market when more
information on product launches is available. In addition, the
Company expects to officially open a research lab in Beijing in the coming months to extend its
talent acquisition reach. The current plan is to scale the office
to hundreds of R&D staff within one to two years to accelerate
educational research and development.
Pedagogy Integration -- NetDragon continues
to deepen its partnership with Beijing Normal University,
China's top education university,
to ensure the most effective pedagogy is being developed and
integrated based on collaboration with proven hands-on educators.
In November 2014 NetDragon, signed an
agreement with Beijing Normal University to jointly research
e-classroom design in an effort to develop insight into how
software and hardware can best be integrated with various teaching
models in a classroom learning environment. One March 18, 2015, NetDragon's education subsidiary
and Beijing Normal University also announced the establishment of
Smart Learning Institute which will provide a unique platform to
integrate the most advanced e-pedagogy with NetDragon's mobile
internet expertise and technological know-how. The Company believes
the accumulation and understanding of pedagogy through its
partnerships with top-tier universities and institutions including
Beijing Normal University will form a significant barrier to
entry.
Content Partnerships -- NetDragon
signed a MOU in November 2014 with a
subsidiary of Pearson, the globally renowned leading education
company, and Beijing Normal University, to develop a smart
education solution. This collaboration will leverage Pearson's rich
K12 educational content resources to build China's leading integrated smart education
solution. In addition, the Company is also in discussions with
numerous major publishers and content partners to enrich the
content on its platform.
Channel Build-Out -- The Company is in
the process of building a nationwide school distribution network
for its educational products. Currently, the Company is in
discussion with over 20 regional and local distributors and has
secured distribution agreements with a number of them. The Company
is also in active discussions with several channel partners in
addition to conventional distributors.
M&A -- NetDragon is in advanced
discussions with multiple major acquisition targets in the online
education space. If such acquisitions materialize, the Company's
competitive position in the market will further be enhanced.
Fundraising -- In February 2015, NetDragon's education subsidiary
closed a Series A equity fundraising round of US$52.5 million led by IDG, Vertex (a Temasek
subsidiary) and Alpha Animation, at a valuation of US$477.5 million.
Other developments --Netdragon was officially
admitted to the Education Informatization Standard Committee under
the Ministry of Education in November
2014. Membership will allow NetDragon to participate in the
forming of technology standards, which will be conducive in
developing the right products that meet or exceed regulatory
standards. NetDragon is one of a very select few tier-one mobile
internet companies who are members of the committee.
Non-GAAP Financial Measures
To supplement the consolidated results of the Company prepared
in accordance with Hong Kong Financial Reporting Standards
("HKFRSs"), the use of certain non-GAAP measures is provided solely
to enhance the overall understanding of the Group's current
financial performance. These non-GAAP measures are not expressly
permitted measures under HKFRSs and may not be comparable to
similarly titled measures for other companies. The non-GAAP
financial measures of the Group exclude share-based payments
expense, amortisation of intangible assets arising from acquisition
of subsidiaries, interest income on pledged bank deposits, exchange
gain (loss) on pledged bank deposits, secured bank borrowings and
redeemable convertible preferred shares, net gain (loss) on
derivative financial instruments, finance costs and gain on
disposal of subsidiaries (net of related income tax).
Management Conference Call
NetDragon will host a management conference call and webcast to
review its the fourth quarter and fiscal year 2014 results on
Thursday, March 26, 2015, at
8pm Hong
Kong time.
Details of the live conference call are as follows:
International
Toll
|
65-6723-9381
|
US Toll
Free
|
1-866-519-4004
|
Hong Kong Toll
Free
|
800-906-601
|
China Toll Free (for
fixed line users)
|
800-819-0121
|
China Toll Free (for
mobile
users)
|
400-620-8038
|
Passcode
|
NetDragon
|
A live and archived webcast of the conference call will be
available on the Investor Relations section of NetDragon's website
at http://ir.netdragon.com/investor/ir_events.shtml. Participants
in the live webcast should visit the aforementioned website 10
minutes prior to the call, then click on the icon for "4Q and
Fiscal Year 2014 Results Conference Call" and follow the
registration instructions.
About NetDragon
NetDragon Websoft Inc. (HKSE: 0777) is a leading innovator and
creative force in China's online
games and mobile internet industries. Established in 1999,
NetDragon is leading developer in the mobile internet segment with
a highly successful track record which includes the development of
flagship MMORPGs such as Eudemons Online and Conquer Online,
China's number one online gaming
portal, 17173.com, and China's
most influential smartphone app store platform, 91 Wireless, which
was sold to Baidu in what was at the time the largest internet
M&A transaction in China in
2013. Being a China's pioneer in
overseas expansion, NetDragon directly operates a number of game
titles in over 10 languages internationally since 2003. NetDragon
continues to strive for developing mobile games and software
applications for users. In recent years, NetDragon has also become
a major player in China's online
and mobile education industry as it works to leverage its mobile
internet technologies expertise and know-how to develop a
game-changing education ecosystem product.
For investor enquiries, please contact:
NetDragon Websoft Inc.
Ms. Maggie Zhou
Senior Director of Investor Relations
Tel.: +852 2850 7266; +86 591 8754 3120
Email: maggie@nd.com.cn; ndir@nd.com.cn
Website: www.nd.com.cn/ir
CONSOLIDATED
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
(FOR THE FOURTH
QUARTER AND FISCAL YEAR ENDED 31 DECEMBER 2014)
|
|
4Q
2014
|
|
3Q 2014
|
|
2014
|
|
2013
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
(Audited)
|
|
RMB
'000
|
|
RMB '000
|
|
RMB
'000
|
|
RMB '000
|
Continuing
operations
|
|
|
|
|
|
|
|
Revenue
|
282,880
|
|
232,702
|
|
962,817
|
|
884,518
|
Cost of
revenue
|
(36,342)
|
|
(23,530)
|
|
(102,844)
|
|
(81,426)
|
|
|
|
|
|
|
|
|
Gross
profit
|
246,538
|
|
209,172
|
|
859,973
|
|
803,092
|
Other income and
gains
|
32,464
|
|
36,034
|
|
157,101
|
|
44,980
|
Selling and marketing
expenses
|
(51,206)
|
|
(38,569)
|
|
(152,495)
|
|
(106,200)
|
Administrative
expenses
|
(120,876)
|
|
(77,538)
|
|
(326,934)
|
|
(366,143)
|
Development
costs
|
(89,278)
|
|
(67,341)
|
|
(249,260)
|
|
(162,857)
|
Other
expenses
|
(11,977)
|
|
(3,666)
|
|
(34,027)
|
|
(10,046)
|
Share of losses of
associates
|
(1,715)
|
|
(406)
|
|
(2,354)
|
|
(16)
|
Operating
profit
|
3,950
|
|
57,686
|
|
252,004
|
|
202,810
|
Interest income on
pledged bank deposits
|
475
|
|
638
|
|
2,794
|
|
4,883
|
Exchange gain (loss)
on pledged bank deposits and secured bank borrowings
|
-
|
|
1,188
|
|
(5,081)
|
|
4,593
|
Net (loss) gain on
derivative financial instrument
|
-
|
|
(646)
|
|
6,817
|
|
(5,481)
|
Gain on disposal of
available-for-sale investment
|
-
|
|
-
|
|
-
|
|
5,761
|
Net (loss) gain on
held-for-trading investments
|
(16,905)
|
|
(1,553)
|
|
(17,304)
|
|
8,756
|
Finance
costs
|
(235)
|
|
(728)
|
|
(3,212)
|
|
(4,651)
|
(Loss) profit before
taxation
|
(12,715)
|
|
56,585
|
|
236,018
|
|
216,671
|
Taxation
|
(9,442)
|
|
(4,166)
|
|
(64,197)
|
|
(50,264)
|
(Loss) profit for the
period/year from continuing operations
|
(22,157)
|
|
52,419
|
|
171,821
|
|
166,407
|
Discontinued
operations
|
|
|
|
|
|
|
|
Profit for the
period/year from discontinued operations
|
-
|
|
-
|
|
-
|
|
6,056,041
|
(Loss)
profit for the period/year
|
(22,157)
|
|
52,419
|
|
171,821
|
|
6,222,448
|
Other comprehensive
expense for the period/year, net of income tax:
|
|
|
|
|
|
|
|
Exchange differences
arising on translation of foreign operations that may be
reclassified subsequently to profit or loss
|
(461)
|
|
(161)
|
|
(40)
|
|
(1,130)
|
Total comprehensive
(expense) income for the period/year
|
(22,618)
|
|
52,258
|
|
171,781
|
|
6,221,318
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) profit for the
period/year attributable to:
|
|
|
|
|
|
|
|
-Owners of the Company
|
(19,406)
|
|
52,595
|
|
176,681
|
|
6,140,776
|
-Non-controlling
interests
|
(2,751)
|
|
(176)
|
|
(4,860)
|
|
81,672
|
|
(22,157)
|
|
52,419
|
|
171,821
|
|
6,222,448
|
(Loss) profit for the
period/year attributable to owner of the Company:
|
|
|
|
|
|
|
|
-from continuing
operations
|
(19,406)
|
|
52,595
|
|
176,681
|
|
164,352
|
-from discontinued
operations
|
-
|
|
-
|
|
-
|
|
5,976,424
|
(Loss) profit for the
period/year attributable to owner of the Company
|
(19,406)
|
|
52,595
|
|
176,681
|
|
6,140,776
|
|
|
|
|
|
|
|
|
(Loss) profit for the
period/year attributable to non-controlling interests:
|
|
|
|
|
|
|
|
-from continuing
operations
|
(2,751)
|
|
(176)
|
|
(4,860)
|
|
2,055
|
-from discontinued
operations
|
-
|
|
-
|
|
-
|
|
79,617
|
(Loss) profit for the
period/year attributable to non-controlling interests
|
(2,751)
|
|
(176)
|
|
(4,860)
|
|
81,672
|
|
|
|
|
|
|
|
|
Total comprehensive
(expense) income attributable to:
|
|
|
|
|
|
|
|
-Owners of the
Company
|
(19,867)
|
|
52,434
|
|
176,641
|
|
6,139,646
|
-Non-controlling
interests
|
(2,751)
|
|
(176)
|
|
(4,860)
|
|
81,672
|
|
(22,618)
|
|
52,258
|
|
171,781
|
|
6,221,318
|
|
|
|
|
|
|
|
|
|
RMB
cents
|
|
RMB cents
|
|
RMB
cents
|
|
RMB cents
|
(Loss)
earnings per share
|
|
|
|
|
|
|
|
From continuing and
discontinued operations
|
|
|
|
|
|
|
|
- Basic
|
(3.78)
|
|
10.31
|
|
34.77
|
|
1,213.44
|
- Diluted
|
(3.82)
|
|
10.27
|
|
34.22
|
|
1,181.10
|
From continuing
operations
|
|
|
|
|
|
|
|
- Basic
|
(3.78)
|
|
10.31
|
|
34.77
|
|
32.48
|
- Diluted
|
(3.82)
|
|
10.27
|
|
34.22
|
|
31.75
|
CONSOLIDATED
STATEMENT OF FINANCIAL POSITION (AS AT 31 DECEMBER
2014)
|
|
2014
|
|
2013
|
|
(Audited)
|
|
(Audited)
|
|
RMB'000
|
|
RMB'000
|
Non-current
assets
|
|
|
|
Property, plant and
equipment
|
822,704
|
|
532,684
|
Prepaid lease
payments
|
378,673
|
|
185,819
|
Investment
property
|
-
|
|
15,725
|
Intangible
assets
|
141,254
|
|
-
|
Interests in
associates
|
28,795
|
|
1,299
|
Available-for-sale
investments
|
5,000
|
|
5,000
|
Loan
receivables
|
18,327
|
|
16,041
|
Deposits made for
acquisition of property, plant and equipment
|
35,967
|
|
16,769
|
Other
receivable
|
-
|
|
60,969
|
Goodwill
|
40,013
|
|
12,534
|
Deferred tax
assets
|
54
|
|
54
|
|
1,470,787
|
|
846,894
|
Current
assets
|
|
|
|
Prepaid lease
payments
|
2,708
|
|
2,583
|
Loan
receivables
|
1,578
|
|
713
|
Trade
receivables
|
51,072
|
|
41,718
|
Amounts due from
customers for contract work
|
7,252
|
|
-
|
Other receivables,
prepayments and deposits
|
210,098
|
|
69,770
|
Amounts due from
related companies
|
1,704
|
|
4,564
|
Amounts due from
associates
|
367
|
|
-
|
Held-for-trading
investments
|
211,584
|
|
20,735
|
Pledged bank
deposit
|
236,805
|
|
107,368
|
Bank
deposits
|
1,999,644
|
|
3,051,289
|
Bank balances and
cash
|
1,036,788
|
|
1,304,355
|
|
3,759,600
|
|
4,603,095
|
|
|
|
|
Current
liabilities
|
|
|
|
Trade and other
payables
|
209,214
|
|
152,837
|
Amounts due to
customers for contract work
|
424
|
|
-
|
Deferred
income
|
25,595
|
|
26,553
|
Amount due to a
related company
|
1,891
|
|
-
|
Amount due to an
associate
|
8
|
|
-
|
Secured bank
borrowing
|
236,805
|
|
104,672
|
Other financial
liability
|
-
|
|
3,122
|
Income tax
payable
|
137,648
|
|
539,927
|
|
611,585
|
|
827,111
|
|
|
|
|
Net current
assets
|
3,148,015
|
|
3,775,984
|
Total assets less
current liabilities
|
4,618,802
|
|
4,622,878
|
|
|
|
|
Non-current
liabilities
|
|
|
|
Other
payables
|
1,283
|
|
-
|
Deferred tax
liabilities
|
116
|
|
-
|
|
1,399
|
|
-
|
|
|
|
|
Net
assets
|
4,617,403
|
|
4,622,878
|
|
|
|
|
Capital and
reserves
|
|
|
|
Share
capital
|
36,943
|
|
37,664
|
Share premium and
reserves
|
4,529,971
|
|
4,577,478
|
|
|
|
|
Equity attributable
to owners of the Company
|
4,566,914
|
|
4,615,142
|
Non-controlling
interests
|
50,489
|
|
7,736
|
|
4,617,403
|
|
4,622,878
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/netdragon-announces-fourth-quarter-and-fiscal-year-2014-financial-results-300056454.html
SOURCE NetDragon Websoft Inc.