Financial Performance - Revenue for 2018 was $434.727 million, an increase of 38.8% from $312.956 million in 2017[15] - Gross profit for 2018 reached $97.901 million, up from $82.859 million in 2017, reflecting a gross margin improvement[15] - Adjusted net profit for 2018 was $35.235 million, compared to $30.550 million in 2017, indicating a growth of 15.5%[15] - Profit for the year was $21.854 million, a decrease from $27.320 million in 2017, reflecting challenges in the market[15] - Revenue for the year ended December 31, 2018, was US$434.7 million, an increase of 38.9% from US$313.0 million in 2017[18] - Adjusted EBITDA for 2018 was US$43.2 million, compared to US$35.7 million in 2017, representing a 21.5% increase[18][19] - Basic earnings per share for 2018 was 1.91 cents, down from 2.41 cents in 2017, indicating a decrease of 20.8%[18] - Advertising revenue increased to US$434.7 million in 2018, up from US$313.0 million in 2017, representing a growth of 38.8%[24] - Mobile advertising revenue grew by 39.3% to US$434.7 million, driven primarily by the robust growth in programmatic advertising[38] - Revenue from Greater China was US$277.5 million, accounting for 63.8% of total revenue, with a year-over-year growth of 98.1%[43] Assets and Liabilities - Total equity attributable to equity shareholders increased to $231.664 million in 2018 from $90.367 million in 2017[16] - Current assets rose to $290.473 million in 2018, up from $210.813 million in 2017, showing a significant liquidity improvement[16] - Non-current assets were reported at $115.698 million in 2018, compared to $108.839 million in 2017[16] - Current liabilities decreased to $173.592 million in 2018 from $195.808 million in 2017, indicating improved financial stability[16] - Total assets grew from US$319.7 million as of December 31, 2017, to US$406.2 million as of December 31, 2018[90] - Total liabilities decreased from US$229.3 million as of December 31, 2017, to US$174.5 million as of December 31, 2018[90] - The liabilities-to-assets ratio improved from 71.7% at the end of 2017 to 43.0% at the end of 2018[90] Research and Development - R&D expenditure rose by 54.4% to US$33.2 million in 2018, up from US$21.5 million in 2017, with R&D expenses accounting for 6.7% of total revenue[25] - The number of R&D employees increased to 361, representing 49.1% of total full-time employees[25] - Research and development expenses increased by 54.3% from US$18.9 million in 2017 to US$29.2 million in 2018, accounting for 6.7% of total revenue[74] Market Strategy and Growth - The company plans to expand its market presence and invest in new technologies to drive future growth[14] - Mobvista aims to leverage big data and AI to improve user acquisition and monetization for app developers[21] - The company focuses on addressing the needs and pain points of app developers to drive revenue growth and profitability[21] - The company is strategically focusing on programmatic advertising to capture market trends and enhance revenue growth[38] - The Asia-Pacific region is becoming a favored market for global advertising budget allocation, benefiting the company's growth strategy[32] - Continued investment in IT infrastructure, big data, and AI capabilities has positioned the company as a market leader in programmatic advertising[33] Employee and Management - The company had over 700 employees across 15 offices worldwide by the end of 2018, enhancing its service capabilities[22] - As of December 31, 2018, the company had a total of 735 full-time employees, with 361 in the R&D department, representing 49.1% of the total workforce[110] - The executive team includes co-founders with significant experience in strategic planning and operations management[114][115] - The Group's human resources management is led by Mr. Li Tianhui, who has been with the Group since 2014[128] Financial Management and Governance - The Group's overall financial management is overseen by the Chief Financial Officer, Mr. Song Xiaofei, who joined the Group in 2015[125] - The Board of Directors consists of seven members, including four executive directors and three independent non-executive directors[149] - Independent non-executive directors provide oversight and independent judgment to the board, enhancing governance[119][121] Risks and Compliance - The company faces risks related to retaining advertisers and publishers, which could materially affect its financial position and results[107] - The mobile advertising industry’s growth is critical; any slowdown could adversely impact the company's profitability and prospects[107] - The company faces potential risks related to data protection compliance, including GDPR, which could lead to monetary penalties and a decline in user base[109] - The company is exposed to security risks, including unauthorized access and hacking, which could impact its database and reputation[109] IPO and Capital Allocation - The company raised approximately US$146.6 million from its listing on the Main Board of the Stock Exchange on December 12, 2018[20] - Approximately 30% of the IPO proceeds (approximately US$44.0 million) will be used to enhance strengths in big data, AI technologies, and IT infrastructure[147] - Approximately 30% of the IPO proceeds (approximately US$44.0 million) will be allocated to improve services on the mobile advertising and mobile analytics platform[147] - Approximately 20% of the IPO proceeds (approximately US$29.3 million) will be used for additional strategic investments and acquisitions to expand the ecosystem[147] Shareholder Information - The Group's five largest customers accounted for approximately 34.8% of total revenue, with the largest customer contributing 23.2%[134] - The Group's five largest suppliers accounted for approximately 33.3% of total purchases, with the largest supplier contributing 8.0%[134] - As of December 31, 2018, Mr. Duan Wei holds 1,127,999,842 shares of the company, representing approximately 74.3% of the total issued share capital[186]
汇量科技(01860) - 2018 - 年度财报