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Romania's Industrial Production Bounces Back, Marking 2.1% Growth in January - ForexTV
Romania's industrial sector is showing signs of recovery as data from January 2025 reveals a significant turnaround in production levels. According to recent updates, industrial production in the country increased by 2.1% in January, marking a robust rebound from the previous month's decline of 3.4% recorded in December 2024.This marked improvement in Romania's industrial output presents a promising start to the new year, driven by increased activity and demand across several key sectors. The year-over-year comparison highlights the positive trajectory, contrasting sharply with the negative figures from December. This recovery indicates a potentially sustained period of growth for Romania's industrial sector as it shakes off the challenges faced in the previous year.Industry analysts are optimistic that this upward trend in industrial production, updated as of March 13, 2025, signals a broader economic stabilization, contributing positively to Romania's economic outlook for the coming months. The January performance could serve as a catalyst for further industrial expansion and investment, providing a much-needed boost to the nation's economy.The material has been provided by InstaForex Company - www.instaforex.com
Futu Announces Fourth Quarter and Full Year 2024 Unaudited Financial Results - ForexTV
HONG KONG, March 13, 2025 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter and Full Year 2024 Operational Highlights Total number of paying clients1 increased 41.0% year-over-year to 2,411,324 as of December 31, 2024.Total number of registered clients2 increased 28.7% year-over-year to 4,583,453 as of December 31, 2024.Total number of users3 increased 16.2% year-over-year to 25.1 million as of December 31, 2024.Total client assets increased 53.1% year-over-year to HK$743.3 billion as of December 31, 2024.Daily average client assets were HK$722.3 billion in the fourth quarter of 2024, an increase of 53.6% from the same period in 2023.Total trading volume in the fourth quarter of 2024 increased by 201.7% year-over-year to HK$2.89 trillion, in which trading volume for U.S. stocks was HK$2.08 trillion, and trading volume for Hong Kong stocks was HK$754.5 billion. Total trading volume in 2024 increased 83.3% year-over-year to HK$7.75 trillion.Margin financing and securities lending balance increased 53.7% year-over-year to HK$50.9 billion as of December 31, 2024. Fourth Quarter 2024 Financial Highlights Total revenues increased 86.8% year-over-year to HK$4,432.5 million (US$570.6 million).Total gross profit increased 88.5% year-over-year to HK$3,656.5 million (US$470.7 million).Net income increased 113.3% year-over-year to HK$1,869.5 million (US$240.7 million).Non-GAAP adjusted net income4 increased 105.4% year-over-year to HK$1,952.3 million (US$251.3 million). Full Year 2024 Financial Highlights Total revenues increased 35.8% year-over-year to HK$13,590.1 million (US$1,749.6 million).Total gross profit increased 31.5% year-over-year to HK$11,144.7 million (US$1,434.7 million).Net income increased 27.0% year-over-year to HK$5,433.1 million (US$699.4 million).Non-GAAP adjusted net income increased 26.2% year-over-year to HK$5,768.0 million (US$742.6 million). Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “In 2024, we added over 701 thousand paying clients, bringing the total number of paying clients to 2.4 million, a 41.0% year-over-year increase. In the fourth quarter, new paying clients increased by 39.1% quarter-over-quarter to 215 thousand, driven by sequential acceleration in client acquisition across all markets. Hong Kong emerged as the top contributor of new paying clients, thanks to our timely and effective marketing campaigns around different asset classes. In Singapore, we witnessed another quarter of both strong client growth and improving client quality. We continued to rapidly take market share in Malaysia thanks to an increasingly localized product experience and growing brand awareness and trust. In Japan, new paying clients returned to double-digit sequential growth as our superior U.S. stock trading experience was accentuated amid strong U.S. stock performance. Year to date, we continue to witness strong paying client growth and are guiding for 800 thousand net new paying clients in 2025.” “Net asset inflow further increased sequentially on top of a high base in the third quarter. Despite the negative mark-to-market impact on clients’ stock holdings, total client assets grew 53.1% year-over-year and 7.2% quarter-over-quarter to HK$743.3 billion. In Singapore, we tracked robust net asset inflow into both U.S. equities and cash management products, altogether driving total client assets up by 19% quarter-over-quarter. Margin financing and securities lending balance increased by 25.1% sequentially to an all-time high of HK$50.9 billion amid risk-on mood.” “Total trading volume hit a record HK$2.89 trillion, up 201.7% year-over-year and 51.5% quarter-over-quarter. Many AI and crypto names posted exceptional gains in the fourth quarter and drove the bulk of our 36.1% sequential increase in U.S. stock trading volume to HK$2.08 trillion. A couple of AI names that used to be unfamiliar to our clients consistently ranked among the most-traded U.S. stocks on our platform in 2024 thanks to their outsized outperformance and growing conviction among the public of AI’s structural influence. Hong Kong stock trading volume reached HK$754.5 billion, up 117.0% quarter-over-quarter, as turnover in many technology names as well as leveraged and inverse ETFs surged.” “Total client assets in wealth management increased 92.6% year-over-year and 13.9% quarter-over-quarter to HK$110.9 billion, which accounted for 15% of total client assets, a further uptick from the third quarter. Despite sequentially lower yield, money market funds continued to attract robust inflow. In Hong Kong and Singapore, we expanded our structured product offerings to better address the investment needs of our high-net-worth clients.” “As of quarter end, we served 482 IPO distribution and IR clients, up 16.4% year-over-year. In 2024, we underwrote 40 Hong Kong IPOs, ranking first among all brokers for the third consecutive year, according to Wind. FINI, the digital IPO settlement platform introduced by The Stock Exchange of Hong Kong, eliminates multi-account participation, shortens the settlement period, and reduces funding costs with the new pre-funding model. These changes improve the overall retail IPO subscription experience and are conducive to market consolidation. We swiftly adjusted our IPO subscription process based on these changes and saw meaningful improvement in market share in terms of subscription amount in recent Hong Kong IPOs.” Fourth Quarter 2024 Financial Results Revenues Total revenues were HK$4,432.5 million (US$570.6 million), an increase of 86.8% from HK$2,373.3 million in the fourth quarter of 2023. Brokerage commission and handling charge income was HK$2,057.4 million (US$264.9 million), an increase of 127.6% from the fourth quarter of 2023. This was mainly due to higher trading volume, partially offset by the decline in blended commission rate. Interest income was HK$2,022.3 million (US$260.3 million), an increase of 51.8% from the fourth quarter of 2023. The increase was mainly driven by higher interest income from securities borrowing and lending business and bank deposits. Other income was HK$352.8 million (US$45.4 million), an increase of 157.0% from the fourth quarter of 2023. The increase was primarily attributable to higher fund distribution service income and currency exchange income. Costs Total costs were HK$776.0 million (US$99.9 million), an increase of 79.0% from HK$433.5 million in the fourth quarter of 2023. Brokerage commission and handling charge expenses were HK$112.2 million (US$14.5 million), an increase of 89.5% from the fourth quarter of 2023. Brokerage expenses grew by a narrower margin than brokerage income mainly due to higher gross margin for Hong Kong stock trading in the quarter. Interest expenses were HK$513.4 million (US$66.1 million), an increase of 89.6% from the fourth quarter of 2023. The increase was primarily due to higher expenses associated with our securities borrowing and lending business and higher margin financing interest expenses. Processing and servicing costs were HK$150.5 million (US$19.4 million), an increase of 45.4% from the fourth quarter of 2023. The increase was primarily due to higher market information and data fee for new products, as well as higher system usage fee. Gross Profit Total gross profit was HK$3,656.5 million (US$470.7 million), an increase of 88.5% from HK$1,939.8 million in the fourth quarter of 2023. Gross margin was 82.5%, as compared to 81.7% in the fourth quarter of 2023. Operating Expenses Total operating expenses were HK$1,439.1 million (US$185.3 million), an increase of 57.1% from HK$916.0 million in the fourth quarter of 2023. Research and development expenses were HK$399.5 million (US$51.4 million), an increase of 10.0% from the fourth quarter of 2023. This increase was primarily due to costs related to organizational restructuring in the fourth quarter of 2024. Selling and marketing expenses were HK$464.0 million (US$59.7 million), an increase of 154.2% from HK$182.5 million in the fourth quarter of 2023. This was driven by strong growth of new paying clients, partially offset by lower client acquisition costs. General and administrative expenses were HK$575.7 million (US$74.1 million), an increase of 55.4% from the fourth quarter of 2023. The increase was primarily due to an increase in general and administrative personnel. Income from Operations Income from operations increased by 116.6% to HK$2,217.4 million (US$285.5 million) from HK$1,023.8 million in the fourth quarter of 2023. Operating margin increased to 50.0% from 43.1% in the fourth quarter of 2023 mainly due to strong topline growth and operating leverage. Net Income Net income increased by 113.3% to HK$1,869.5 million (US$240.7 million) from HK$876.4 million in the fourth quarter of 2023. Net income margin for the fourth quarter of 2024 increased to 42.2% from 36.9% in the year-ago quarter. Non-GAAP adjusted net income increased by 105.4% to HK$1,952.3 million (US$251.3 million) from the fourth quarter of 2023. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see "Use of Non-GAAP Financial Measures" at the bottom of this press release. Net Income per ADS Basic net income per American Depositary Share (“ADS”) was HK$13.54 (US$1.74), compared with HK$6.40 in the fourth quarter of 2023. Diluted net income per ADS was HK$13.35 (US$1.72), compared with HK$6.31 in the fourth quarter of 2023. Each ADS represents eight Class A ordinary shares. Full Year 2024 Financial Results Revenues Total revenues were HK$13,590.1 million (US$1,749.6 million), an increase of 35.8% from HK$10,008.4 million in 2023. Brokerage commission and handling charge income was HK$6,044.7 million (US$778.2 million), an increase of 53.2% from HK$3,944.8 million in 2023. This was mainly due to an increase in trading volume, partially offset by lower blended commission rate. Interest income was HK$6,666.9 million (US$858.3 million), an increase of 20.4% from HK$5,536.4 million in 2023. The increase was mainly driven by higher margin financing income due to an increase in daily average margin balance and higher interest income from bank deposits. Other income was HK$878.5 million (US$113.1 million), an increase of 66.6% from HK$527.2 million in 2023. The increase was primarily attributable to higher fund distribution service income and currency exchange income. Costs Total costs were HK$2,445.5 million (US$314.8 million), an increase of 59.2% from HK$1,536.2 million in 2023. Brokerage commission and handling charge expenses were HK$341.2 million (US$43.9 million), an increase of 36.7% from HK$249.6 million in 2023. This was primarily attributable to higher trading volume. Interest expenses were HK$1,617.5 million (US$208.2 million), an increase of 77.6% from HK$910.8 million in 2023. The increase was mainly driven by higher expenses associated with our securities borrowing and lending business. Processing and servicing costs were HK$486.8 million (US$62.7 million), an increase of 29.5% from HK$375.9 million in 2023. The increase was due to higher market information and data fee, and cloud service fee for new markets and products. Gross Profit Total gross profit was HK$11,144.7 million (US$1,434.7 million), an increase of 31.5% from HK$8,472.2 million in 2023. Gross profit margin declined from 84.7% in 2023 to 82.0% in 2024. Operating Expenses Total operating expenses were HK$4,523.0 million (US$582.3 million), an increase of 30.5% from HK$3,464.7 million in 2023. Research and development expenses were HK$1,493.6 million (US$192.3 million), an increase of 3.7% from HK$1,440.9 million in 2023. This increase was primarily due to an increase in research and development headcount to support new products and new markets. Selling and marketing expenses were HK$1,409.3 million (US$181.4 million), an increase of 98.4% from HK$710.3 million in 2023. The increase was mainly due to strong paying client growth, partially offset by lower customer acquisition costs. General and administrative expenses were HK$1,620.0 million (US$208.6 million), an increase of 23.3% from HK$1,313.5 million in 2023. The increase was primarily due to an increase in headcount for general and administrative personnel, especially in new markets. Income from Operations Income from operations increased by 32.2% to HK$6,621.7 million (US$852.5 million) from HK$5,007.5 million in 2023. Operating margin declined to 48.7% from 50.0% in 2023. Net Income Net income increased by 27.0% to HK$5,433.1 million (US$699.4 million) from HK$4,278.9 million in 2023. Non-GAAP adjusted net income increased by 26.2% to HK$5,768.0 million (US$742.6 million) from HK$4,569.8 million in 2023. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see "Use of Non-GAAP Financial Measures" at the bottom of this press release. Net Income per ADS Basic net income per ADS was HK$39.44 (US$5.08), compared with HK$31.00 in 2023. Diluted net income per ADS was HK$38.88 (US$5.01), compared with HK$30.59 in 2023. Each ADS represents eight Class A ordinary shares. Conference Call and Webcast Futu's management will hold an earnings conference call on Thursday, March 13, 2025, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time). Please note that all participants will need to pre-register for the conference call, using the link https://register.vevent.com/register/BIb8967ae69ba64a7eab0c02d765ce1339. It will automatically lead to the registration page of "Futu Holdings Ltd Fourth Quarter and Full Year 2024 Earnings Conference Call", where details for RSVP are needed. Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information. Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/. About Futu Holdings Limited Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitalized brokerage and wealth management platform. The Company primarily serves the emerging affluent population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. The Company provides investing services through its proprietary digital platforms, Futubull and moomoo, each a highly integrated application accessible through any mobile device, tablet or desktop. The Company's primary fee-generating services include trade execution – which allows its clients to trade a diverse range of assets, such as stocks, ETFs, warrants, options, futures and cryptocurrencies – as well as margin financing and securities lending. The Company has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company's operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors' assessment of its operating performance. Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company's operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. For more information on this non-GAAP financial measure, please see the table captioned "Unaudited Reconciliations of Non-GAAP and GAAP Results" set forth at the end of this press release. Exchange Rate Information This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7677 to US$1.00, the noon buying rate in effect on December 31, 2024 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu's goal and strategies; Futu's expansion plans; Futu's future business development, financial condition and results of operations; Futu's expectations regarding demand for, and market acceptance of, its credit products; Futu's expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor inquiries, please contact: Investor RelationsFutu Holdings Limitedir@futuholdings.com ___________________ 1 The number of paying clients refers to the number of clients with assets in their trading accounts with Futu.2 The number of registered clients refers to the number of users with one or more trading accounts with Futu.3 The number of users refers to the number of user accounts registered with Futu.4 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. FUTU HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except for share and per share data) As of December 31, As of December 31, 2023 2024 2024 HK$ HK$ US$ASSETS Cash and cash equivalents4,937,538 11,688,383 1,504,742Cash held on behalf of clients44,369,310 68,639,816 8,836,569Restricted cash1,232 1,121 144Term deposit5,540 4,990 642Short-term investments3,114,613 2,411,074 310,397Securities purchased under agreements to resell133,039 316,301 40,720Loans and advances-current (net of allowance of HK$45,949 thousand and HK$85,252 thousand as of December 31, 2023 and December 31, 2024, respectively)32,528,421 49,695,691 6,397,736Receivables: Clients293,505 534,077 68,756Brokers5,189,155 18,169,186 2,339,069Clearing organizations4,244,793 3,277,063 421,883Fund management companies and fund distributors151,691 1,210,472 155,834Interest268,504 597,483 76,919Amounts due from related parties- 61,200 7,879Prepaid assets54,691 63,497 8,174Other current assets135,479 160,330 20,641Total current assets95,427,511 156,830,684 20,190,105 Operating lease right-of-use assets224,092 253,212 32,598Long-term investments238,556 573,190 73,791Loans and advances - non-current18,934 18,805 2,421Other non-current assets1,226,754 2,025,841 260,803Total non-current assets1,708,336 2,871,048 369,613 Total assets97,135,847 159,701,732 20,559,718 LIABILITIES Amounts due to related parties69,018 79,090 10,182 Payables: Clients48,762,263 72,379,135 9,317,962 Brokers15,648,286 44,642,545 5,747,203 Clearing organizations24,096 503,396 64,806 Fund management companies and fund distributors175,575 507,076 65,280 Interest44,109 86,964 11,196 Borrowings5,651,565 5,702,259 734,099 Securities sold under agreements to repurchase- 2,574,659 331,457 Lease liabilities - current114,682 144,357 18,584 Accrued expenses and other current liabilities1,939,004 4,936,805 635,556 Total current liabilities72,428,598 131,556,286 16,936,325 Lease liabilities - non-current123,335 132,924 17,112 Other non-current liabilities12,183 8,061 1,037 Total non-current liabilities135,518 140,985 18,149 Total liabilities72,564,116 131,697,271 16,954,474 SHAREHOLDERS’ EQUITY Class A ordinary shares71 72 9 Class B ordinary shares27 27 3 Additional paid-in capital18,456,438 18,807,369 2,421,228 Treasury Stock(5,199,257) (5,199,257) (669,343)Accumulated other comprehensive loss(49,433) (249,916) (32,174)Retained earnings11,360,890 14,652,946 1,886,394 Total shareholders' equity24,568,736 28,011,241 3,606,117 Non-controlling interest2,995 (6,780) (873)Total equity24,571,731 28,004,461 3,605,244 Total liabilities and equity97,135,847 159,701,732 20,559,718 FUTU HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In thousands, except for share and per share data) For the Three Months Ended For the Twelve Months Ended December 31,2023 December 31,2024 December 31,2024 December 31,2023 December 31,2024 December 31,2024 HK$ HK$ US$ HK$ HK$ US$Revenues Brokerage commission and handling charge income903,999 2,057,429 264,870 3,944,779 6,044,746 778,190 Interest income1,331,945 2,022,283 260,345 5,536,422 6,666,864 858,280 Other income137,318 352,836 45,423 527,217 878,515 113,098 Total revenues2,373,262 4,432,548 570,638 10,008,418 13,590,125 1,749,568 Costs Brokerage commission and handling charge expenses(59,166) (112,241) (14,450) (249,567) (341,238) (43,930)Interest expenses(270,784) (513,352) (66,088) (910,759) (1,617,450) (208,228)Processing and servicing costs(103,539) (150,453) (19,369) (375,904) (486,783) (62,668)Total costs (433,489) (776,046) (99,907) (1,536,230) (2,445,471) (314,826)Total gross profit1,939,773 3,656,502 470,731 8,472,188 11,144,654 1,434,742 Operating expenses Research and development expenses(363,132) (399,462) (51,426) (1,440,893) (1,493,620) (192,286)Selling and marketing expenses(182,461) (464,001) (59,735) (710,348) (1,409,313) (181,432)General and administrative expenses(370,397) (575,676) (74,112) (1,313,464) (1,620,017) (208,558)Total operating expenses (915,990) (1,439,139) (185,273) (3,464,705) (4,522,950) (582,276) Income from operations1,023,783 2,217,363 285,458 5,007,483 6,621,704 852,466 Others, net(16,749) 55,882 7,195 33,442 (86,372) (11,119) Income before income tax expense and share of loss from equitymethod investments1,007,034 2,273,245 292,653 5,040,925 6,535,332 841,347 Income tax expense(125,812) (358,429) (46,144) (748,479) (998,342) (128,525)Share of loss from equity method investments(4,836) (45,357) (5,838) (13,497) (103,934) (13,380) Net income876,386 1,869,459 240,671 4,278,949 5,433,056 699,442 Attributable to: Ordinary shareholders of the Company878,225 1,871,704 240,960 4,281,474 5,443,094 700,734 Non-controlling interest(1,839) (2,245) (289) (2,525) (10,038) (1,292) 876,386 1,869,459 240,671 4,278,949 5,433,056 699,442 Net income per share attributable to ordinary shareholders of the Company Basic0.80 1.69 0.22 3.88 4.93 0.63 Diluted0.79 1.67 0.21 3.82 4.86 0.63 Net income per ADS Basic6.40 13.54 1.74 31.00 39.44 5.08 Diluted6.31 13.35 1.72 30.59 38.88 5.01 Weighted average number of ordinary shares used in computing net income per share Basic1,097,155,166 1,106,025,655 1,106,025,655 1,104,899,411 1,104,199,740 1,104,199,740 Diluted1,112,774,804 1,121,506,777 1,121,506,777 1,119,653,571 1,120,478,183 1,120,478,183 Net income876,386 1,869,459 240,671 4,278,949 5,433,056 699,442 Other comprehensive income/(loss), net of tax Foreign currency translation adjustment81,589 (223,100) (28,722) (1,587) (200,220) (25,776)Total comprehensive income957,975 1,646,359 211,949 4,277,362 5,232,836 673,666 Attributable to: Ordinary shareholders of the Company959,786 1,648,308 212,200 4,279,887 5,242,611 674,924 Non-controlling interest(1,811) (1,949) (251) (2,525) (9,775) (1,258) 957,975 1,646,359 211,949 4,277,362 5,232,836 673,666 FUTU HOLDINGS LIMITEDUNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS(In thousands) For the Three Months Ended For the Twelve Months Ended December 31,2023 December 31,2024 December 31,2024 December 31,2023 December 31,2024 December 31,2024 HK$ HK$ US$ HK$ HK$ US$ Net income876,386 1,869,459 240,671 4,278,949 5,433,056 699,442Add: Share-based compensation expenses74,077 82,886 10,671 290,831 334,926 43,118Adjusted net income950,463 1,952,345 251,342 4,569,780 5,767,982 742,560 Non-GAAP to GAAP reconciling items have no income tax effect.
UU Wallet Secures U.S. MSB License, Embarking on a New Chapter of Global Compliance with Security at Its Core - ForexTV
Hong Kong, March 13, 2025 (GLOBE NEWSWIRE) -- UU Wallet, a leading global Web3 payment platform, recently announced that it has officially obtained the Money Services Business (MSB) license from the United States. This makes UU Wallet one of the few digital financial service platforms that combines robust security capabilities with global compliance credentials. The approval of this license signifies that UU Wallet can now operate compliantly within the U.S. regulatory framework, engaging in digital asset transactions, fiat currency exchange, and cross-border payments, further solidifying its position as the "most secure Web3 payment platform." Security and Compliance: Driving Global Strategy The U.S. MSB license, issued by the Financial Crimes Enforcement Network (FinCEN) under the Department of the Treasury, is a critical entry requirement for international financial institutions to provide monetary services. Passing the license audit indicates that UU Wallet has met stringent U.S. regulatory standards in areas such as anti-money laundering (AML), risk control systems, and user asset protection. Since its establishment in 2023, UU Wallet has rapidly grown into a Web3 payment ecosystem covering over 160 countries and regions, thanks to its technological innovation and commitment to security. With a team of over 100 professionals, UU Wallet focuses on four core businesses: digital currency and fiat exchange, prepaid cards, enterprise wallet services, and Web3 wealth management. Its daily transaction volume has surpassed $20 million. Four Core Features Redefining Secure Payment Experiences Instant Fiat Exchange, Secure and Frictionless UU Wallet supports instant conversions between mainstream fiat currencies such as the Philippine Peso (PHP), South Korean Won (KRW), Japanese Yen (JPY), US Dollar (USD), Hong Kong Dollar (HKD), and Malaysian Ringgit (MYR), and digital currencies. Utilizing intelligent routing and multi-signature cold wallet technology, users can complete cross-border fund transfers within 5 seconds, with end-to-end data encryption and a zero-risk incident record. Global Prepaid Cards: USDT Real-Time Circulation, Balancing KYC Efficiency and Security Users can instantly recharge prepaid cards with USDT, which are accepted in over 160 countries and regions for both online and offline purchases. The platform supports both virtual and physical cards, as well as B2B client integration. UU Wallet's unique "tiered KYC" mechanism allows basic consumption scenarios to complete identity verification in just 3 minutes, while larger transactions are secured through dynamic facial recognition and blockchain address tracking, striking a balance between convenience and security. Enterprise Wallet Services: Comprehensive Fund Protection For Web3 enterprises, UU Wallet offers payment and fund management solutions covering 50+ public chains and 10,000+ tokens. Through secure multi-party computation (MPC) technology, real-time risk warning systems, and monthly third-party audits, UU Wallet ensures transparent and traceable fund flows, mitigating risks of operational errors and hacker attacks. Web3 Asset Wealth Management: Balancing Returns and Risk Control The platform provides a variety of value-added services, including flexible staking, structured products, and compliant stablecoin wealth management. All products are executed automatically via smart contracts, with code security verified by top-tier auditing firms. Historical annualized returns range from 3% to 15%, ensuring users' assets grow steadily and securely. "Security is the lifeline of financial services," said a UU Wallet spokesperson. "With the MSB license, we will accelerate collaboration with global regulators and traditional financial institutions, driving deeper integration of Web3 payments with mainstream economic systems." About UU Wallet UU Wallet is a security-focused Web3 payment infrastructure provider dedicated to lowering the barriers to digital asset usage through technological innovation. The company has obtained financial licenses in the United States and the Philippines, serving over 500,000 individual users and 2,000 enterprises with a zero-security-incident record. CONTACT: Wesley Tam pamela@uuwallet.com https://www.uuwallet.com/
Aurora Mobile Limited Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results - ForexTV
SHENZHEN, China, March 13, 2025 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “Aurora Mobile remains committed to our "AI First" strategy and views AI as the most critical business driver for the future. We are not only deeply integrating AI into the workflows of various departments but also using it as a KPI in the Balanced Scorecard (BSC) assessments for both the company and each employee. This ensures that technology implementation is closely aligned with performance results.Our core products are fully integrated with advanced AI capabilities that enable various applications such as email editing, push notification copywriting, and data analytics. These AI-driven enhancements enable our customers to drive business innovations and improve operational efficiency.Over the past two years, we have continuously invested in the development of GPTBots.ai, an enterprise-level AI agent platform. By seamlessly embedding native AI agent technology into workflows, we are helping companies accelerate their transformation to an "AI First" strategy. Over the past few quarters, we have seen rapid growth in subscription revenue for GPTBots.ai. The new era of industrial revolution is just beginning. The enterprise application of AI is still in its early stage, and we remain committed to increasing our investments in enterprise AI. We believe that our vast enterprise customer base, diverse business scenarios, and rich data resources will be invaluable assets in this AI era.” Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “We have had an incredible Q4 to close out the perfect financial year 2024. In this quarter, we achieved the following key milestones: 1. Group’s Q4 revenue recorded a tremendous growth of 20% compared with Q4’2023; fueled by growth in all business lines. 2. Core Developer Subscription Services revenue recorded quarter-over-quarter and year-over-year growth, achieving the highest quarterly revenue in history of RMB54.7 million. 3. Our EngageLab business continues its great growth momentum with a whopping 200% quarterly revenue growth year-over-year and RMB10 million increase in new signed contract value between the quarters. 4. Positive adjusted EBITDA for full year 2024; while recording the 6th consecutive quarter of positive adjusted EBITDA. 5. Brought in net operating cash inflow of RMB19.5 million in Q4’2024. Net Dollar Retention Rate stood at 95% for our core Developer Subscription business for the trailing 12 months period ended December 31, 2024” Fourth Quarter 2024 Financial Highlights Revenues were RMB93.2 million (US$12.8 million), an increase of 20% year-over-year.Cost of revenues was RMB36.5 million (US$5.0 million), an increase of 51% year-over-year.Gross profit was RMB56.7 million (US$7.8 million), an increase of 6% year-over-year.Total operating expenses were RMB60.3 million (US$8.3 million), a decrease of 1% year-over-year.Net loss was RMB0.7 million (US$96 thousand), compared with a net loss of RMB16.7 million for the same quarter last year.Net loss attributable to Aurora Mobile Limited’s shareholders was RMB1.1 million (US$0.1 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB17.2 million for the same quarter last year.Adjusted net income (non-GAAP) was RMB0.1 million (US$13 thousand), compared with a RMB0.6 million adjusted net loss for the same quarter last year.Adjusted EBITDA (non-GAAP) was at positive RMB1.3 million (US$0.2 million), compared with a positive RMB0.1 million for the same quarter last year. Fourth Quarter 2024 Financial Results Revenues were RMB93.2 million (US$12.8 million), an increase of 20% from RMB77.4 million in the same quarter of last year, attributable to a 28% increase in revenue from Developer Services and a 1% increase in revenue from Vertical Applications. The increase was a result of both the growth of demand and the increase in the number of customers. Cost of revenues was RMB36.5 million (US$5.0 million), an increase of 51% from RMB24.1 million in the same quarter of last year. The increase was mainly due to a RMB8.1 million increase in media cost and a RMB2.9 million increase in technical service cost. Gross profit was RMB56.7 million (US$7.8 million), an increase of 6% from RMB53.3 million in the same quarter of last year. Total operating expenses were RMB60.3 million (US$8.3 million), a decrease of 1% from RMB61.2 million in the same quarter of last year. Research and development expenses were RMB24.3 million (US$3.3 million), a decrease of 10% from RMB27.1 million in the same quarter of last year, mainly due to a RMB2.8 million decrease in personnel costs.Sales and marketing expenses were RMB24.6 million (US$3.4 million), an increase of 11% from RMB22.1 million in the same quarter of last year, mainly due to a RMB2.2 million increase in personnel costs.General and administrative expenses were RMB11.4 million (US$1.6 million), a decrease of 6% from RMB12.1 million in the same quarter of last year, mainly due to a RMB1.1 million decrease in personnel costs. Loss from operations was RMB0.2 million (US$31 thousand), compared with RMB7.7 million in the same quarter of last year. Net Loss was RMB0.7 million (US$96 thousand), compared with RMB16.7 million in the same quarter of last year. Adjusted net income (non-GAAP) was RMB0.1 million (US$13 thousand), compared with a RMB0.6 million adjusted net loss in the same quarter of last year. Adjusted EBITDA (non-GAAP) was at positive RMB1.3 million (US$0.2 million) compared with a positive RMB0.1 million for the same quarter of last year. The cash and cash equivalents and restricted cash were RMB119.5 million (US$16.4 million) as of December 31, 2024 compared with RMB115.0 million as of December 31, 2023. Fiscal year 2024 Financial Highlights Revenues were RMB316.2 million (US$43.3 million), an increase of 9% year-over-year.Cost of revenues was RMB107.1 million (US$14.7 million), an increase of 18% year-over-year.Gross profit was RMB209.0 million (US$28.6 million), an increase of 5% year-over-year.Total operating expenses were RMB225.2 million (US$30.8 million), a decrease of 10% year-over-year.Net loss was RMB6.8 million (US$0.9 million), compared with a net loss of RMB62.7 million in 2023.Net loss attributable to Aurora Mobile Limited’s shareholders was RMB7.0 million (US$1.0 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB62.1 million in 2023.Adjusted net loss (non-GAAP) was RMB2.5 million (US$0.3 million), compared with a RMB18.9 million adjusted net loss in 2023.Adjusted EBITDA (non-GAAP) was at positive RMB3.7 million (US$0.5 million), compared with a negative RMB7.4 million in 2023. Fiscal year 2024 Financial Results Revenues were RMB316.2 million (US$43.3 million), an increase of 9% from RMB290.2 million in 2023, attributable to a 12% increase in revenue from Developer Services and a 1% increase in revenue from Vertical Applications. The increase was a result of both the growth of demand and the increase in the number of customers. Cost of revenues was RMB107.1 million (US$14.7 million), an increase of 18% from RMB90.9 million in 2023. The increase was mainly due to a RMB3.4 million increase in short message cost, a RMB7.7 million increase in technical service cost, a RMB1.3 million increase in media cost, and a RMB1.7 million increase in cloud cost. Gross profit was RMB209.0 million (US$28.6 million), an increase of 5% from RMB199.3 million in 2023. Total operating expenses were RMB225.2 million (US$30.8 million), a decrease of 10% from RMB250.2 million in last year. Research and development expenses were RMB94.8 million (US$13.0 million), a decrease of 22% from RMB121.8 million in last year, mainly due to a RMB15.5 million decrease in personnel costs, a RMB8.5 million decrease in bandwidth cost, a RMB3.9 million decrease in technical service expense, and a RMB4.9 million decrease in depreciation expense. The impact is partially offset by a RMB7.1 million increase in cloud cost.Sales and marketing expenses were RMB84.9 million (US$11.6 million), an increase of 3% from RMB82.7 million in last year, mainly due to a RMB1.3 million increase in personnel costs, and a RMB1.7 million increase in travel and entertainment expenses. The impact is partially offset by a RMB0.4 million decrease in depreciation expense.General and administrative expenses were RMB45.4 million (US$6.2 million), a decrease of 0.4% from RMB45.7 million in last year, mainly due to a RMB7.3 million decrease in personnel costs, a RMB1.1 million decrease in amortization expense. The impact is partially offset by a one-time RMB7.6 million gain on disposal of property and equipment in 2023. Loss from operations was RMB9.9 million (US$1.4 million), compared with RMB40.5 million in 2023. Net Loss was RMB6.8 million (US$0.9 million), compared with RMB62.7 million in 2023. Adjusted net loss (non-GAAP) was RMB2.5 million (US$0.3 million), compared with RMB18.9 million in 2023. Adjusted EBITDA (non-GAAP) was at positive RMB3.7 million (US$0.5 million) compared with a negative RMB7.4 million in 2023. Business Outlook For the first quarter of 2025, the Company expects the total revenue to be between RMB74.0 million and RMB77.5 million, representing year-over-year growth of approximately 15% to 20%. The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Update on Share Repurchase As of December 31, 2024, the Company had repurchased a total of 278,857 ADS, of which 33,219 ADSs, or around US$233.8 thousand were repurchased during the fourth quarter in 2024. ADS refers to American Depositary Shares, each 3 ADS representing 40 Class A common shares. Conference Call The Company will host an earnings conference call on Thursday, March 13, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day). All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration. Participant Online Registration: https://register.vevent.com/register/BIbf61e89bd11b4ab1b44c3257207484d3 A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net (loss)/income and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net (loss)/income as net loss excluding share-based compensation, reduction in force charges, share of loss from equity method investment and impairment of long-term investments. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, amortization of land use right, income tax (benefits)/expenses, share-based compensation, reduction in force charges, share of loss from equity method investment and impairment of long-term investments. The Company believes that adjusted net (loss)/income and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss. The Company believes that adjusted net (loss)/income and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net (loss)/income and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release. Net Dollar Retention Rate Net Dollar Retention Rate is calculated for a trailing 12-month period by first identifying all Developer Subscription customers (excluding private cloud business) in the prior 12-month period, and then calculating the quotient from dividing the revenue generated from such customers in the trailing 12-month period by the revenue generated from the same group of customers in the prior 12-month period. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law. About Aurora Mobile Limited Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation. For more information, please visit https://ir.jiguang.cn/. For investor and media inquiries, please contact: Aurora Mobile Limitedir@jiguang.cn ChristensenIn ChinaMs. Xiaoyan SuPhone: +86-10-5900-1548E-mail: Xiaoyan.Su@christensencomms.com In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email: linda.bergkamp@christensencomms.com Footnote: This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 31, 2024. AURORA MOBILE LIMITED UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data) Three months ended Twelve months ended December 31, 2023 September 30, 2024 December 31, 2024 December 31, 2023 December 31, 2024 RMB RMB RMB US$ RMB RMB US$ Revenues 77,410 79,052 93,153 12,762 290,232 316,170 43,315 Cost of revenues (24,129) (25,846) (36,468) (4,996) (90,946) (107,136) (14,678) Gross profit 53,281 53,206 56,685 7,766 199,286 209,034 28,637 Operating expenses Research and development (27,085) (24,157) (24,326) (3,333) (121,806) (94,816) (12,990) Sales and marketing (22,056) (22,448) (24,583) (3,368) (82,705) (84,900) (11,631) General and administrative (12,071) (10,447) (11,392) (1,561) (45,653) (45,448) (6,226) Total operating expenses (61,212) (57,052) (60,301) (8,262) (250,164) (225,164) (30,847) Other operating income(1) 182 202 3,393 465 10,361 6,229 853 Loss from operations (7,749) (3,644) (223) (31) (40,517) (9,901) (1,357) Foreign exchange gain/(loss), net 49 195 (62) (8) (18) 122 17 Interest income 247 211 288 39 1,200 2,881 395 Interest expenses (158) (42) (42) (6) (808) (132) (18) Share of loss from equity method investment (450) - - - (450) - - Other (loss)/income (10,025) 1,048 (805) (110) (23,991) 238 33 Gains from fair value change 6 50 45 6 30 133 18 Loss before income taxes (18,080) (2,182) (799) (110) (64,554) (6,659) (912) Income tax benefits/(expenses) 1,380 24 105 14 1,886 (110) (15) Net loss (16,700) (2,158) (694) (96) (62,668) (6,769) (927) Less: net income/(loss) attributable to noncontrolling interests and redeemable noncontrolling interests 545 423 372 51 (570) 277 38 Net loss attributable to Aurora Mobile Limited’s shareholders (17,245) (2,581) (1,066) (147) (62,098) (7,046) (965) Net loss per share, for Class A and Class B common shares: Class A and B Common Shares - basic and diluted (0.22) (0.03) (0.01) (0.00) (0.78) (0.09) (0.01) Shares used in net loss per share computation: Class A Common Shares - basic and diluted 62,318,904 62,717,083 63,200,100 63,200,100 62,688,838 62,802,678 62,802,678 Class B Common Shares - basic and diluted 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 Other comprehensive (loss)/income Foreign currency translation adjustments (721) (826) 1,357 186 919 817 112 Total other comprehensive (loss)/income, net of tax (721) (826) 1,357 186 919 817 112 Total comprehensive (loss)/income (17,421) (2,984) 663 90 (61,749) (5,952) (815) Less: comprehensive income/(loss) attributable to noncontrolling interests and redeemable noncontrolling interests 545 423 372 51 (570) 277 38 Comprehensive (loss)/income attributable to Aurora Mobile Limited’s shareholders (17,966) (3,407) 291 39 (61,179) (6,229) (853) (1) Beginning on January 1, 2024 we classified the government grants that are operating in nature as other operating income. Comparative figures were reclassified to conform to this presentation. AURORA MOBILE LIMITED UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)) As of 12/31/2023 12/31/2024 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 114,521 119,171 16,326 Restricted cash 486 376 52 Accounts receivable 34,344 50,804 6,960 Prepayments and other current assets 20,225 14,264 1,954 Total current assets 169,576 184,615 25,292 Non-current assets: Long-term investments 112,912 113,506 15,550 Property and equipment, net 1,433 4,573 626 Operating lease right-of-use assets 4,081 17,146 2,349 Intangible assets, net 17,941 13,767 1,886 Goodwill 37,785 37,785 5,177 Deferred tax assets 1,072 131 18 Other non-current assets 5,387 6,510 894 Total non-current assets 180,611 193,418 26,500 Total assets 350,187 378,033 51,792 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term loan - 3,000 411 Accounts payable 21,073 32,691 4,479 Deferred revenue and customer deposits 141,518 147,111 20,154 Operating lease liabilities 4,007 4,461 611 Accrued liabilities and other current liabilities 74,682 74,370 10,189 Total current liabilities 241,280 261,633 35,844 Non-current liabilities: Operating lease liabilities 629 13,376 1,833 Deferred tax liabilities 3,994 3,059 419 Other non-current liabilities 563 567 78 Total non-current liabilities 5,186 17,002 2,330 Total liabilities 246,466 278,635 38,174 Shareholders’ equity: Common shares 50 50 7 Treasury shares (2,453) (1,674) (229) Additional paid-in capital 1,045,397 1,045,221 143,195 Accumulated deficit (988,669) (995,715) (136,412) Accumulated other comprehensive income 19,223 20,040 2,745 Total Aurora Mobile Limited’s shareholders’ equity 73,548 67,922 9,306 Noncontrolling interests 30,173 31,476 4,312 Total shareholders’ equity 103,721 99,398 13,618 Total liabilities and shareholders’ equity 350,187 378,033 51,792 AURORA MOBILE LIMITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)) Three months ended Twelve months ended December 31, 2023 September 30, 2024 December 31, 2024 December 31, 2023 December 31, 2024 RMB RMB RMB US$ RMB RMB US$ Reconciliation of Net Loss to Adjusted Net (Loss)/Income: Net loss (16,700) (2,158) (694) (96) (62,668) (6,769) (927) Add: Share-based compensation 1,520 1,249 795 109 11,574 4,225 579 Reduction in force charges 3,480 - - - 5,838 - - Share of loss from equity method investment 450 - - - 450 - - Impairment of long-term investment 10,655 - - - 25,919 - - Adjusted net (loss)/income (595) (909) 101 13 (18,887) (2,544) (348) Reconciliation of Net Loss to Adjusted EBITDA: Net loss (16,700) (2,158) (694) (96) (62,668) (6,769) (927) Add: Income tax (benefits)/expenses (1,380) (24) (105) (14) (1,886) 110 15 Interest expenses 158 42 42 6 808 132 18 Depreciation of property and equipment 448 361 197 27 5,301 1,309 179 Amortization of intangible assets 1,509 1,112 1,052 144 6,223 4,648 637 Amortization of land use right - - - - 994 - - EBITDA (15,965) (667) 492 67 (51,228) (570) (78) Add: Share-based compensation 1,520 1,249 795 109 11,574 4,225 579 Reduction in force charges 3,480 - - - 5,838 - - Share of loss from equity method investment 450 - - - 450 - - Impairment of long-term investment 10,655 - - - 25,919 - - Adjusted EBITDA 140 582 1,287 176 (7,447) 3,655 501 AURORA MOBILE LIMITED UNAUDITED SAAS BUSINESSES REVENUE (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)) Three months ended Twelve months ended December 31, 2023 September 30, 2024 December 31, 2024 December 31, 2023 December 31, 2024 RMB RMB RMB US$ RMB RMB US$ Developer Services 55,581 57,485 70,998 9,727 204,652 229,638 31,460 Subscription 48,830 51,651 54,687 7,492 173,523 196,813 26,963 Value-Added Services 6,751 5,834 16,311 2,235 31,129 32,825 4,497 Vertical Applications 21,829 21,567 22,155 3,035 85,580 86,532 11,855 Total Revenue 77,410 79,052 93,153 12,762 290,232 316,170 43,315 Gross Profits 53,281 53,206 56,685 7,766 199,286 209,034 28,637 Gross Margin 68.8% 67.3% 60.9% 60.9% 68.7% 66.1% 66.1%