NET Qin 2014 performance report surrendered, revenue growth loss further expansion

Beijing News (reporter Lin Chiling Guo Yongfang) yesterday, NetQin Company to produce 2014 annual performance report. After shorting institutions took turns bombing, senior management turmoil, the founder and the return of illness and other soap plot, Net Qin 2014 revenue growth, but the loss of further expansion.

Net loss of USD 76.7 million

NET Qin Yu reported that Net-Qin 2014 net income is 332.3 million U.S. dollars, compared with 2013 196.7 million U.S. dollars year-on-year growth of 68.9%, net loss of 76.7 million U.S. dollars, compared to 2013 years of net loss of 2.993 million U.S. dollars, the year, the expansion of about 26 times times.

With the net loss face widened, the net-Qin last year's revenue costs and operating expenses have increased significantly. Among them, revenue costs rose 180% year-on-year, operating expenditure increased by 55%. Net Qin said, the revenue costs of the year-on-year growth, mainly due to the enterprise mobile business product cost growth.

The latest data show that the market value of 203 million U.S. dollars, and as of December 31, 2014, the Net Qin held cash, cash equivalents, fixed-term deposits, limited cash total of 273 million U.S. dollars, which means that NetQin market value is lower than its cash and equivalent.

However, NetQin disclosed in its earnings report that its net revenue for 2015 is expected to range from 450 million to 455 million dollars. It is clear that NetQin needs to disclose more business revenue sources to prove its revenue capability.

Revenue focus shifted

Network Qin to mobile phone security business started, and experienced a strategic transformation over the past two years, mobile advertising, mobile games, enterprise mobility and other new business has become the new growth of the Network Qin business.

Earnings showed the company's mobile revenue growth of 180.5% to 148.7 million dollars year-on-year, advertising revenue growth of 99.1% to 72.9 million dollars. At the same time, the Network Qin revealed that the growth of these two revenue and related acquisitions have a close relationship.

The reason for the growth of its corporate mobility business is that it has signed a premium distributor agreement with Apple, while advertising revenue growth is partly the result of its acquisition of Wanpo and fan-Yue's advertising business, the company said.

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Lin Yu still no specific job

This year during the Spring Festival, the founder of the Network Qin Lin Yu back to the Network Qin, but yesterday Qin public relations people still said that the current Lin Yu did not hold any position.

Lin Yu since October 2005 with Swenyong, Xu co-founded the Network Qin, since then has been the company's chairman and CEO.

Since the end of October 2013, the U.S. Research Institute muddy Water released a report blamed the Network Qin "manipulation of major fraud", the Net Qin stock fell all the way, from the maximum of 20 yuan to fall below 10 yuan, the company's management and organization also continued turbulence. The share price continued to fall after a small rebound last October after a Lin Yu resignation. The eastern time of February 27, the Net Qin stock price 4.07 U.S. dollars, Rose 1.75%.

After attending the China Internet Conference in August 2014, Lin Yu did not appear in public and his telephone was shut down for a long time. December 11 Network Qin Technology announced Lin Yu for personal reasons to resign the company CEO and Chairman of the post.

For more details, please visit the Beijing News Network www.bjnews.com.cn