Century Jia Yuan net revenue of the first quarter is 134.3 million yuan

Absrtact: June 4 News, Century Jiayuan today released the first quarter of fiscal year 2014 as at March 31 without the audit earnings. According to the report, the first quarter net revenue of Jiayuan was 134.3 million yuan (about 21.6 million U.S. dollars), compared with 111.5 million yuan in the same period last year.

June 4 News, Century Jiayuan announced today, as of March 31, the first quarter of fiscal year 2014 without the audit earnings. The report showed that in the first quarter of the century, net revenue was 134.3 million yuan (about 21.6 million U.S. dollars), a 20.5% increase from 111.5 million yuan in the same period last year, and a net loss of 13.9 million yuan (about 2.2 million U.S. dollars), while net profit for the same period last year was 7.9 million yuan.

Highlights of the first quarter of 2014

Net revenue in the first quarter of 2014 reached 134.3 million yuan (about 21.6 million U.S. dollars), up 20.5% from a year earlier.

Operating losses in the first quarter of 2014 were 20.7 million yuan (about 3.3 million U.S. dollars), compared with the first quarter of 2013 operating profit of 9.4 million yuan. Excluding the impact of equity incentive costs, the first quarter of 2014, non-US general accounting standards operating loss of 19 million yuan (about 3.1 million U.S. dollars), compared to the first quarter of 2013 non-US general accounting standards operating profit of 13.5 million yuan.

The net loss attributable to Jiayuan in the first quarter of 2014 was 13.9 million yuan (about 2.2 million U.S. dollars), compared with the net profit of 7.9 million yuan in the first quarter of 2013. Excluding the impact of equity incentive costs, the first quarter of 2014, non-US general accounting standards attributable to the century good margin of the net loss of 12.3 million yuan (about 2 million U.S. dollars), compared with the first quarter of 2013 net profit of 12.1 million yuan.

The average monthly active user in the first quarter of 2014 was 5.4 million, up 4.1% from the first quarter of 2013, and 9.7% per cent on the Quarter-on-quarter quarter.

Wulin, chief executive of Century Jiayuan, said, "It is a great pleasure to see the revenue growth of 20.5% per cent year-on-year in this quarter, thanks to the company's continued implementation of the O2O strategy, which has laid a solid foundation for the year." One-to-one matchmaking business income we have achieved a three-digit year-on-year growth, the current business in 32 cities nationwide opened 43 service centers, its revenue accounted for 16.7% of the total income. It is expected that with the expansion of market share in the future, one-to-one matchmaking business will gradually become a bigger and more important part of our income. Our online dating platform after a decade of development, the current monthly average number of active users has reached 5.4 million, the Chinese singles have a huge potential for marriage and love, we believe that the century Jiayuan will further integrate this fast growing market. ”

"The number of active users this quarter increased by 4.1%, the chain growth of 9.7%." The growth of users from two new platforms, the love of truth and courtship nets, is particularly encouraging. In addition to dating products, the company has been working to develop a range of new products that will expand our service from the original help to helping single men and women find a partner to help couples or married couples in love, "Wulin added.

2014 First quarter operating results

The average monthly active user in the first quarter of 2014 was 5,399,646, compared with 5,188,638 in the first quarter of 2013 and 4,920,553 in the fourth quarter of 2013.

The average monthly number of subscribers in the first quarter of 2014 was 1,452,377, compared with 1,279,063 in the first quarter of 2013. The fourth quarter of 2013 was 1,382,873 people.

In the first quarter of 2014, the average monthly contribution of online services was RMB 23.9, compared with 26.1 yuan in 2013, and 25.3 yuan in the fourth quarter of 2013.

Financial results for the first quarter of 2014

Century Jiayuan announced that net revenue in the first quarter of 2014 reached 134.3 million yuan (about 21.6 million U.S. dollars), compared with the same period last year, 111.5 million yuan growth of 20.5%, compared with the previous quarter, 133.1 million yuan in the increase of 0.9%. The year-on-year increase in net revenue comes mainly from the strong growth of one-to-one matchmaking services and online services.

In the first quarter of 2014, net revenue for online services was 107.1 million yuan (about 17.2 million U.S. dollars), accounting for 79.8% of total net revenue, compared with 100.2 million yuan in the first quarter of 2013 and 6.9% Yuan, a slight decline in the yuan in the fourth quarter of 2013. The year-on-year increase in net revenue for online services was mainly attributable to a 13.6% per cent increase in the number of paid users.

In the first quarter of 2014, the net revenue of one-to-one matchmaking service was RMB 22.4 million (about 3.6 million U.S. dollars), which accounted for 16.7% of total net revenue, compared to 9.4 million yuan in the first quarter of 2013, which grew 139.1%. Compared with the fourth quarter of 2013, the RMB 19.7 million per cent quarter-on-quarter growth 13.9%. Personalized one-to-one matchmaking service net revenue year-on-year and quarter-on-quarter growth, mainly due to the company to provide one-to-one matchmaking service and the number of places in the city increased.

In the first quarter of 2014, net revenue for offline activities and other services was 4.8 million yuan (about 772,000 U.S. dollars), accounting for 3.5% of total net revenue, compared with 2 million yuan in the first quarter of 2013, which grew 145.9%, Compared with the fourth quarter of 2013, the renminbi has fallen by 16.9% in 5.8 million yuan. The year-on-year increase in net revenue for offline activities and other services was mainly attributable to the introduction of more sponsorship for offline activities and advertising on the company's website. The decline in net revenue for offline activities and other services was mainly attributable to a decrease in the number of offline activities held by the company.

In the first quarter of 2014, the cost of sales was 53.2 million yuan (about 8.6 million U.S. dollars), compared with 37.9 million yuan in the first quarter of 2013, which grew 40.3% compared with 52.3 million yuan in the fourth quarter of 2013, The growth of the century reflects the investment in the development of one-to-one matchmaking and online services, consistent with the growth in net income.

Gross profit in the first quarter of 2014 was 81.1 million yuan (about 13 million U.S. dollars), compared with 73.6 million yuan in the first quarter of 2013, which grew 10.2% compared with 80.8 million yuan in the fourth quarter of 2013. Year-on-year and chain growth were consistent with the growth in net income.

2014 The first quarter of the sales and market costs of 83 million yuan (about 13.4 million U.S. dollars), compared with the first quarter of 2013, 44.1 million yuan year-on-year growth of 88.1%, compared to the fourth quarter of 2013, 44.3 million yuan in the quarter-on-quarter growth of 87.4%. Year-on-year and the growth of the chain is mainly because the company in the 2014 Spring Festival during the launch of the TV brand advertising.

In the first quarter of 2014, the management cost was 13.3 million yuan (about 2.1 million U.S. dollars), compared with 14.8 million yuan in the first quarter of 2013, it fell 9.9% compared with 12.8 million yuan in the fourth quarter of 2013. The decline was mainly due to the company's own office area to reduce rental costs, and the cost of employee stock options have also declined.

2014 The first quarter of the research and development costs of 5.5 million yuan (about 881,000 U.S. dollars), compared with the first quarter of 2013, 5.3 million yuan year-on-year growth of 3.1%, compared to the fourth quarter of 2013, 5.9 million yuan in the quarter-on-quarter decline 7.7%. Year-on-year growth is mainly due to the implementation of the company's Market segmentation strategy, continuous improvement of existing products and customer satisfaction caused by the expansion of research and development team, the chain decline is mainly because the year-end award refers to staff stock options cost decline.

In the first quarter of 2014, the operating loss was RMB 20.7 million (about 3.3 million U.S. dollars), compared with the first quarter of 2013 operating profit of 9.4 million yuan, the fourth quarter of 2013 operating profit of RMB 17.8 million yuan. Operating loss is mainly due to the company's advertising during the Spring Festival in 2014, resulting in increased operating costs. Excluding the impact of equity incentive costs, the first quarter of 2014, non-US general accounting standards operating loss of 19 million yuan (about 3.1 million U.S. dollars), compared to the first quarter of 2013 non-US general accounting standards operating profit of 13.5 million yuan, In the fourth quarter of 2013, non-US general accounting standards operating profit of 18 million yuan.

In the first quarter of 2014, the exchange loss was RMB 1.3 million (about 205,000 U.S. dollars), while the exchange gain in the first quarter of 2013 was RMB 135,000, and the exchange gain in the fourth quarter of 2013 was RMB 616,000. The exchange losses in the first quarter of 2014 were mainly due to the depreciation of the renminbi against the dollar during this period. Century Jiayuan part of the initial public offering has been exchanged for renminbi in the books of overseas companies, and the functional currency of offshore companies is in dollars.

In the first quarter of 2014, the net loss was 13.9 million yuan (about 2.2 million U.S. dollars), compared with the first quarter of 2013 net profit of 7.9 million yuan, 2013 fourth quarter net profit of 25 million yuan. Excluding the impact of equity incentive costs, the first quarter of 2014, non-US general accounting standards Net loss of 12.3 million yuan (about 2 million U.S. dollars), compared to the first quarter of 2013, non-US general accounting standards net profit of 12.1 million yuan, In the fourth quarter of 2013, the net profit of non-US general accounting standards was 25.2 million yuan.

After basic and diluted in the first quarter of 2014, the net loss of US depository receipts per share was RMB 0.47 (about 0.08 USD) and RMB 0.47 (about 0.08 USD) respectively. After basic and diluted in the first quarter of 2013, the net profit of US depository receipts per share was RMB 0.27 and RMB 0.26 respectively, while in the fourth quarter of 2013, the basic and diluted after each The net profits of US depository receipts are RMB 0.83 and RMB 0.82 respectively.

Excluding the impact of equity incentive costs, the first quarter of 2014, non-United States General accounting standards and diluted the United States depository receipts per share of the net loss of 0.41 yuan (about 0.07 U.S. dollars) and 0.41 yuan (about 0.07 U.S. dollars). In the first quarter of 2013, the net profit of US depository receipts per share was RMB 0.41 and RMB 0.40 respectively after the basic and diluted US GAAP In the fourth quarter of 2013, the net profit of United States depository receipts per share was RMB 0.84 and RMB 0.83 respectively.

As of March 31, 2014, the century Jiayuan held cash and cash equivalents as well as short-term deposits totaling 578 million yuan (about 93 million U.S. dollars). In the first quarter of 2014, the operating cash flow was net inflow of RMB 1.4 million (about 218,000 USD).

Used to calculate the net profit per share of US depository receipts in the first quarter of 2014, and the weighted average United States depository receipts for each share of US depository receipts after the non-US GAAP dilution. As of March 31, 2014, the company has issued 33.3 million shares of the United States Depository receipts, which contains about 504,000 shares of issued US depository receipts for future option lines.

Outlook for the second quarter of 2014

Century Jiayuan is currently expected to be 145 million yuan to 147 million yuan in net income for the second quarter of 2014. This guide is based on the current and preliminary expectations of the century Jiayuan, not excluding possible future changes.

Analyst expectations and share price changes:

According to Yahoo's financial statistics, the average analyst expected the first quarter of the profit margin of 21.61 million U.S. dollars, not according to the U.S. General accounting standards of the loss of 0.09 U.S. dollars per share. Analysts also expect the second-quarter earnings of the century's margin to be $23.44 million trillion, which will not be $0.10 per share of US GAAP.

On the same day, Jiayuan rose 0.12 in conventional trading in the Nasdaq market, at $5.79, or 2.12%. Over the past 52 weeks, the top stock price for the century has been $9.48, with a minimum price of $4.88.