The only product will be four quarter net make 56.6 million dollars

Absrtact: February 17, the only product (NASDAQ Securities Code: VIPS) Released Monday the 2014 fiscal year ended December 31 without the audit earnings. The report showed the total net revenue for the fourth quarter was $1.36 billion trillion, up 108.9% from a year earlier;

February 17, the only product (NASDAQ Securities Code: VIPS) Monday released the end of the 2014 fiscal year ended December 31 without the audit earnings. The report showed the total net revenue for the fourth quarter was $1.36 billion, up 108.9% from a year earlier, while the net profit attributable to ordinary shareholders was 56.6 million dollars, up 122.8% from 25.4 million a year earlier.

Main results of the quarter:

-The total net revenue for the fourth quarter was 1.36 billion U.S. dollars, up 114.2% from a year earlier, mainly because the number of active users increased by 114.2% to 12.2 million, and total orders increased by 99.6% to 35.3 million in the same period a year earlier;

--The fourth quarter gross profit margin is 24.9%, higher than the same period of 24.5%;

Only the fourth-quarter operating profit was 60.8 million U.S. dollars, up 105.7% from 29.6 million trillion dollars a year earlier. Excluding the U.S. General accounting standards (excluding equity incentive payments), the fourth-quarter operating profit was $79.6 million, up 141.5% from the 33 million-dollar period a year earlier. Not in accordance with the United States General accounting standards (excluding equity incentive spending), only the fourth quarter operating profit margin of 5.9%, higher than the same period of 5.1%;

--The net profit of the fourth quarter for ordinary shareholders was $56.6 million, which was 122.8% higher than the net profit of 25.4 million U.S. dollars attributable to ordinary shareholders in the same period last year. Only the fourth quarter net profit margin was 4.2%, higher than the same year's 3.9%;

-Not in accordance with the United States General accounting standards (excluding equity incentive payments), only the fourth quarter of the goods will be attributable to ordinary shareholders of the net profit of 73.4 million U.S. dollars, compared to the same period last year, the net profit of ordinary shareholders 28.8 million U.S. dollar growth of 154.6%. Not in accordance with the United States General accounting standards (excluding equity incentive expenses), only the fourth quarter of the goods will be attributed to ordinary shareholders net profit margin of 5.4%, the same period last year, the net profit margin of ordinary shareholders is 4.4%.

Fiscal year 2014 Main results:

-The only product will be 2014 fiscal year net revenue of 3.77 billion U.S. dollars, a 145.1% increase than the 2013 fiscal year, mainly because the number of active users than 2013 in the fiscal year increase 9.4 million, to 150.4%, and the total order number of 23.6 million in the fiscal year increase 2013, to 107.3 million copies;

--The only product will be 2014 fiscal year gross margin of 24.9%, higher than 2013 fiscal year 24%;

Only the 2014 operating profit for the fiscal year was 136 million US dollars, up 152.7% from 53.8 million US dollars a year earlier. Not in accordance with the United States General accounting standards (excluding equity incentive spending), the only product will be 2014 operating profit of 207.4 million U.S. dollars, compared to the last year's 53.8 million U.S. dollar growth of 152.7%. Not in accordance with the United States General accounting standards (excluding equity incentive payments), the only product will be 2014 operating profit margin of 5.5%, 2013 fiscal year operating profit of 3.9%;

The net profit for the 2014 fiscal year, which belonged to ordinary shareholders, was $137.3 million, a 162.4% increase from 52.3 million US dollars in the previous fiscal year. Only the 2014 fiscal year net profit margin is 3.6%, 2013 fiscal year net profit margin is 3.1%;

-Not in accordance with the United States General accounting standards (excluding equity incentive payments), the only product will be in the 2014 fiscal year for ordinary shareholders of the net profit of 200.4 million U.S. dollars, 2013 fiscal year attributable to ordinary shareholders net profit of 64.8 million U.S. dollars. Excluding the US GAAP (excluding equity incentive spending), the net profit margin of the 2014 fiscal year for ordinary shareholders is 5.3%, up from 3.8% in the previous fiscal year.

Financial analysis of Quarter four:

Revenue

The total net revenue for the fourth quarter was 136 million U.S. dollars, up 108.9% from 651 million dollars a year earlier, mainly due to the number of new active users, the total number of active users, the total number of orders, and the continued growth of revenue from mobile platforms.

In the fourth quarter, the number of active users was 12.2 million, an increase of 114.2% from 5.7 million people a year earlier. The fourth-quarter total order volume was 35.3 million, up 99.6% from 17.7 million a year earlier. Only the increase in total order quantity, mainly due to the promotion of brand awareness, and continue to work to optimize and increase the company's PC and mobile platform brand and product selection.

Gross profit

Only in the fourth quarter gross profit was 338.2 million U.S. dollars, up 112.2% from 159.4 million US dollars a year earlier. Only the increase in the gross profit of commodities, mainly due to the upgrading of the procurement scale, so that their bargaining power with suppliers to enhance. Only the fourth quarter gross profit margin was 24.9%, higher than the same period last year 24.5%.

Operating expenses

The fourth-quarter total operating expenses were $287.5 million trillion, up 115% from 133.7 million US dollars a year earlier. The fourth-quarter total operating expenditure accounted for 21.1% of total net revenue, up from 20.5% a year earlier.

Only the fourth-quarter performance spending was $127.3 million trillion, up 73.9% from 73.2 million trillion dollars a year earlier. Only the goods will fulfill the growth of expenditure, which mainly reflects the increase of sales volume and the number of fulfilled orders. The fourth-quarter performance of the goods will be 9.4% of total net revenue, down from 11.2% a year earlier. Only goods will fulfill the decline of the proportion of net revenue, which reflects the scale benefit of the rapid growth of total net revenue of the company.

The fourth-quarter marketing spending was $68.1 million trillion, up 135.5% from 28.9 million dollars a year earlier. Only in the fourth quarter, marketing expenditure accounted for 5% of total net revenue, up from 4.4% over a year earlier, reflecting the effectiveness of the company's long-term strategy to expand its market share by investing in brand awareness, attracting more mobile users, and expanding its markets.

The fourth-quarter technology and content spending was $38.1 million trillion, up 168.9% from the 14.2 million dollar a year earlier, accounting for 2.8% of the company's total net revenue, up from 2.2% a year earlier. The growth in technology and content spending reflects the company's continued ability to better support future growth by expanding its workforce and investing in data analysis, further improving the capacity to predict consumer behavior, and thus further enhancing the user experience.

The fourth-quarter administration and general services expenditures were $54 million trillion, up 209.2% from 17.5 million US dollars a year earlier, mainly due to an increase in the number of staff, the acquisition of the linked intangible assets of the Lok Bee network, and increased spending resulting from online payments growth. Only the administrative and general services expenditures accounted for 4% of total net revenue, up from 2.7% a year earlier.

Operating profit

Only the fourth-quarter operating profit was 60.8 million U.S. dollars, up 105.7% from 29.6 million trillion dollars a year earlier. The growth of the operating profit of the goods will mainly reflect the growth of the company's business scale and the decline of the total net revenue from the performance expenditure. Only the fourth-quarter operating profit margin was 4.5%, flat from a year earlier.

Excluding the U.S. General accounting standards (excluding equity incentive payments), the fourth-quarter operating profit was $79.6 million, up 141.5% from the 33 million-dollar period a year earlier. Excluding the U.S. General accounting standards (excluding equity incentive payments), the fourth-quarter operating profit margin was 5.9%, up from 5.1% a year earlier.

Net profit

Only in the fourth quarter, the net profit attributable to ordinary shareholders was $56.6 million, which was 122.8% higher than the net profit of 25.4 million U.S. dollars attributable to ordinary shareholders in the same period last year. Only the fourth quarter net profit margin was 4.2%, higher than the same period last year 3.9%. Only in the fourth quarter of the United States depository receipts of the U.S. certificate of the diluted profit of 0.09 U.S. dollars, the same period last year, the United States depository vouchers diluted profits of 0.04 U.S. dollars.

Not in accordance with the United States General accounting standards (excluding equity incentive spending), only the fourth quarter of the goods will be attributable to ordinary shareholders net profit of 73.4 million U.S. dollars, compared to the same period last year, the net profit of ordinary shareholders increased by 154.6%. Not in accordance with the United States General accounting standards (excluding equity incentive expenses), only the fourth quarter of the goods will be attributed to ordinary shareholders net profit margin of 5.4%, the same period last year, the net profit margin of ordinary shareholders is 4.4%. Not in accordance with the United States General accounting standards (excluding equity incentive expenses), only the fourth quarter of the goods will be attributable to ordinary shareholders in the United States depository receipts of US $0.12, the same period last year attributable to ordinary shareholders of the United States depository receipts for each share of the U.S. voucher diluted profit of $0.05.

In the quarter ended December 31, the average weighted amount of US depository receipts used to calculate diluted losses for the year 2014 was 598,878,670 shares.

As at December 31 of fiscal year 2014, the total cash and cash equivalents held by the Commodities Council amounted to USD 772.2 million and the value of securities held to maturity was $607.3 million. In the fourth quarter, only the goods will come from the operating activities of the net cash of 311.2 million dollars.

Financial Analysis for fiscal year 2014:

The net revenue for the 2014 fiscal year was 3.77 billion U.S. dollars, up 122.4% from the 2013 fiscal year, mainly due to an increase in the number of active users and total orders, as well as increased contributions from the mobile platform.

The number of active users in the 2014 fiscal year was 23.6 million, up 150.4% from 9.4 million in fiscal year 2013. The only product will be 2014 total order volume of 107.3 million, compared to the 2013 fiscal year 49.2 million increase 118.3%.

Gross profit

The only product in the 2014 fiscal year gross profit of 938.3 million U.S. dollars, compared to 2013 fiscal year 407.8 million dollar growth 130.1%. The only product will be 2014 fiscal year gross margin of 24.9%, higher than 2013 fiscal year 24%. Only the product will increase the gross profit margin, mainly due to the procurement scale upgrade, so that its bargaining power with suppliers to enhance.

Operating profit

Only 2014 operating profit for the fiscal year of 136 million U.S. dollars, compared to the last fiscal year 53.8 million U.S. dollar growth of 152.7%. Only the product will operate the profit year-on-year growth, mainly reflects the company's business scale growth, gross profit margin and cost control measures. The 2014 operating profit margin was 3.6%, up from 3.2% in the previous fiscal year.

Not in accordance with the United States General accounting standards (excluding equity incentive spending), the only product will operate in the 2014 fiscal year operating profit of 207.4 million U.S. dollars, compared with the last fiscal year 66.3 million U.S. dollar growth of 213%. Not in accordance with the United States General accounting standards (excluding equity incentive spending), the only product will be 2014 operating margin of 5.5%, higher than the previous fiscal year 3.9%.

Net profit

Only in the 2014 fiscal year, the net profit of ordinary shareholders was 137.3 million U.S. dollars, compared with the last fiscal year's net profit of 52.3 million U.S. dollars increased by 162.4%. The net profit margin for the 2014 fiscal year was 3.6%, up from 3.1% in the previous fiscal year. Only goods will be in the fiscal year 2014 per share of the United States depository receipts diluted profit of 0.23 U.S. dollars, 2013 fiscal year for each share of the United States depository vouchers diluted income of 0.09 U.S. dollars.

Not in accordance with the United States General accounting standards (excluding equity incentive payments), the only product will be in the 2014 fiscal year for ordinary shareholders of the net profit of 200.4 million U.S. dollars, 2013 fiscal year attributable to ordinary shareholders net profit of 64.8 million U.S. dollars. Not in accordance with the United States General accounting standards (excluding equity incentive payments), the only product will be in the 2014 fiscal year for ordinary shareholders of the net profit margin of 5.3%, 2013 fiscal year attributable to ordinary shareholders of the net interest rate of 3.8%. Not in accordance with the United States General accounting standards (excluding equity incentive expenses), the only product will be in the 2014 fiscal year for ordinary shareholders of the United States depository receipts diluted profits of 0.33 U.S. dollars, 2013 fiscal year attributable to ordinary shareholders of the United States depository receipts of the thin profit of $0.11.

In the fiscal year ending December 31, the average weighted amount of US depository receipts for the only products used to calculate diluted earnings was 601,137,920 shares.

In the fiscal year 2014 of December 31, only the net cash from business operations was $505.7 million.

Performance Outlook

The only product forecast was that net revenue for the first quarter of fiscal year 2015 was $1.25 billion to $1.3 billion, up about 78% to 85% from a year earlier. This expectation reflects the current and preliminary views on market and operating conditions, which may change in the future.

Market expectations and stock price performance

Only the fourth quarter and 2014 year's performance is better than the market expectations. A survey by Thomson Reuters showed that market analysts had been expected to do not follow us GAAP (excluding equity incentive spending) Only the fourth quarter revenue of the goods will be 1.23 billion U.S. dollars, each share of the United States depository receipts diluted earnings of 0.09 U.S. dollars, 2014 revenue of 3.66 billion U.S. dollars, each share of the United States depository receipts of the thin income of 0.30 U.S. dollars.

Only in Monday, the stock price rose 0.36 U.S. dollars in the NYSE's regular trading, or 1.68%, at $21.80. In the past 52 weeks, only the lowest share price of the goods will be 10.72 U.S. dollars, the highest share price of 24.80 U.S. dollars. (Mingxuan)