China Financial Results 15/11/13 – Netease, Youku, China Power Equipment, China Education Alliance, SinoCoking Coal and Coke

Netease posts record revenues despite ailing World of Warcraft

Chinese online gaming and web giant Netease (NASDAQ:NTES) posted record numbers in Q3 2013 despite a fall in the number of World of Warcraft subscribers, which Netease operates in China. Here’s a quick summary (all growth stats are year-on-year):

  • Netease made RMB 2.5 billion ($411 million) in revenue, up 23 percent. That’s a new record for the company.
  • Net profit came out to RMB 1 billion ($171 million), up 29 percent from last year.
  • Online game revenue grew 21 percent to RMB 2.1 billion ($344 million).
  • Advertising revenue grew 23 percent to RMB 299 million ($49 million).

Youku Tudou Announces Third Quarter 2013 Unaudited Financial Results – Bloomberg

  • Net revenues were RMB857.7 million (US$140.2 million), a 14% increase  quarter over quarter.
  • Our accumulated traffic data of TV serial dramas and movies reflected a  new consumption pattern and we have adjusted our accounting estimates on  content costs amortization accordingly.
  • Gross profit was RMB82.3 million (US$13.4 million).
  • Net loss was RMB218.6 million (US$35.7million).
  • Cash, cash equivalents, restricted cash and short-term investments totaled  RMB3.2 billion (US$523.5 million) as of September 30, 2013.
  • Acquisition of property and equipment was RMB67.3 million (US$11.0  million).
  • Acquisition of intangible assets was RMB171.6 million (US$28.0 million).

China Auto Logistics Reports Third Quarter Results

  • Net revenues in the quarter were $125,489,366, compared with  $170,456,821 in the same period last year.
  • The gross profit margin in Auto Sales in the third quarter continued  to be squeezed by the Company’s decision to be very competitive in its  Auto Sales pricing to maintain industry leadership in the face of  significant competition.
  •  Reflecting the reduced contributions to operating income, net income  attributable to shareholders in the third quarter was $553,275  compared with $1,517,549 in the year earlier period.
  • For the nine months ended September 30, 2013, net revenues were  $343,370,742, compared with $427,950,375 a year earlier. Net earnings  attributable to shareholders in the first nine months of 2013 were  $2,361,094, or $0.64 per share, compared with $4,748,487, or $1.29 per  share in the first nine months of 2012.

China Recycling Energy Corporation Reports 520% Increase in 9 Months’ Profit for 2013 Third Quarter Financial Results

  • Total sales was $21.74 million, an increase of 21.26 million as compared  to $0.48 million for the third quarter of 2012.
  • Income from operations was $10.46 million, increased 108% compared to  $5.03 million for the third quarter of 2012.
  • The net income is 4.39 million, while it was a net loss of 1.41 million in  the third quarter of 2012.
  • Fully diluted EPS of $0.08, increased 167% compared to $0.03 for the third  quarter of 2012.

China Power Equipment Announces Third Quarter 2013 Financial Results

  • Revenues decreased 14.5% to $ 9.13 million year over year, while increased 2.78% quarter over quarter
  • Net income decreased 22% to $1.63 million year over year, while increased 17.4% quarter over quarter, with $0.07 in diluted EPS

China Jo-Jo Drugstores Announces Fiscal 2014 Second Quarter Financial Results

  • In three months online sales contributed $1.6 million in revenue, an  increase of 85.6% from the prior period
  • Retail sales, approximately 65.6% of total revenue for the three months  ended September 30, 2013, increased by $0.6 million or 5.3% to $11.1  million compared with the same period last year
  • Cost of goods sold in the second quarter decreased to $13.9 million, down  40.2% compared with the same period last year
  • Gross margin increased quarter over quarter from 12.8% to 17.5%
  • Net loss was $0.55 million in the second quarter, losses narrowed 64.3%  compared with the same period last year
  • Diluted and basic loss per share was $0.04

China Education Alliance Announces Third Quarter 2013 Financial Results

  • Total revenues decreased by 21% to $1.6 million.
  • Net loss of $7.8 million.
  • Loss per share was $0.74 per fully diluted share.

SinoCoking Coal and Coke Chemical Industries Announces Fiscal 2014 First Quarter Financial Results

  • Total revenue slightly decreased to $17.5 million, as compared to $17.6  million.
  • Gross margin improved to 17.7%, as compared to 10.9%.
  • Income from operations increased by 98% to $2.5 million, as compared to  $1.2 million.
  • Net income increased by 75.9% to $1.2 million or $0.05 per diluted share,  as compared to $0.7 million or $0.03 per diluted share.

China Cord Blood Corporation Reports Financial Results for the Second Quarter and First Half of Fiscal 2014

  • Revenues for the second quarter of fiscal 2014 increased by 10.3% to  RMB141.6 million ($23.1 million) from RMB128.5 million in the prior year  period.
  • New subscriber sign-ups and accumulated subscriber base were 15,928 and  343,170, respectively.
  • Gross profit increased by 12.7% to RMB114.3 million ($18.7 million) from  RMB101.4 million in the prior year period.
  • Gross margin was 80.7%, compared to 78.9% in the prior year period.
  • Operating income increased by 19.7% to RMB56.3 million ($9.2 million) from  RMB47.0 million in the prior year period.
  • Interest expense amounted to RMB16.5 million ($2.7 million), which was  largely attributable to the convertible notes issued to KKR China  Healthcare Investment Limited (“KKR”) and Golden Meditech Holdings Limited  (“Golden Meditech”).
  • Net income attributable to the Company’s shareholders increased by 0.8% to  RMB24.9 million ($4.1 million) from RMB24.7 million in the prior year  period, after taking into account higher income tax expense in the second  quarter.
  • Operating cash flow for the quarter amounted to RMB121.0 million ($19.8  million), after taking into account the coupon payment made to the  Company’s convertible note holder.
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