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CHINANET ONLINE - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

CHINANET ONLINE (ISIN: US16949H2013, WKN: A2AQ0N) Kursdatum: 27.07.2017 Kurs: 1,130 USD
Beschreibung Daten
Symbol CNET
Marktkapitalisierung 12.834.427,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Software
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2016-08-19 - 4:10 |
Internet
Letztes Bilanz Update 31.03.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 27.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
-4,79 -22,80 0,01% -21,55 74,04 -1,98 0,37 0,58

Firmenbeschreibung

Firmenstrategie

Principles of consolidation

 

 

The consolidated financial statements include the financial statements of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. According to the agreements between Beijing CNET Online and Shanghai Borongdingsi, although Beijing CNET Online legally owns 51% of Shanghai Borongdingsi’s interests, Beijing CNET Online only controls the assets and liabilities related to the bank kiosks business, which has been included in the financial statements of Beijing CNET Online, but does not control other assets of Shanghai Borongdingsi, thus, Shanghai Borongdingsi’s financial statements were not consolidated by the Company.

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Revenue recognition


The Company's revenue recognition policies are in compliance with ASC Topic 605 “Revenue Recognition”. In accordance with ASC Topic 605, revenues are recognized when the four of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the service has been rendered, (iii) the fees are fixed or determinable, and (iv) collectability is reasonably assured.


Sales include revenues from selling advertising time purchased from TV stations, internet advertising space on the Company’s website portals and effective sales lead information collected, providing online advertising, marketing and other related value added technical services. Advertising contracts establish the fixed price and advertising services to be provided. Pursuant to advertising contracts, the Company provides advertisement placements in different formats, including but not limited to banners, links, logos, buttons, rich media and content integration in specified locations on the sites and for agreed periods; and/or places the advertisements onto purchased advertisement time during specific TV programs for agreed periods. Revenue is recognized ratably over the period the advertising is provided and, as such, the Company considers the services to have been delivered. The Company treats all elements of advertising contracts as a single unit of accounting for revenue recognition purposes. Value added technical services are provided based on two types of contracts: (i) fixed price and (ii) fixed price with minimum performance threshold. For contracts with fixed price term, revenue is recognized on a pro-rata basis over the engaged service period. For fixed price contracts with minimum performance threshold, revenue is recognized when the specified performance criteria is met. Revenue from search engine marketing services is recognized on a monthly basis based on the direct cost consumed through search engines for providing such services with a premium. The Company recognizes the revenue on a gross basic, as the Company believes that it acts as the primary obligor of this transaction, which is considered the most important factor for a gross revenue recognition in accordance with ASC Topic 605, subtopic 45. Revenue from selling effective sales lead information is recognized based on fixed price per sales lead when information is delivered and accepted by clients. Based upon the Company’s credit assessments of its clients prior to entering into contracts, the Company determines if collectability is reasonably assured. In situations where collectability is not deemed to be reasonably assured, the Company recognizes revenue upon receipt of cash from clients, only after services have been provided and all other criteria for revenue recognition have been met.

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27. Segment reporting


The Company follows ASC Topic 280 “Segment Reporting”, which requires that companies disclose segment data based on how management makes decisions about allocating resources to segments and evaluating their performance. Reportable operating segments include components of an entity about which separate financial information is available and which operating results are regularly reviewed by the chief operating decision maker (“CODM”), the Company’s Chief Executive Officer, to make decisions about resources to be allocated to the segment and assess each operating segment’s performance.


Previously, the Company had four reportable operating segments, which was Internet adverting, TV advertising, Bank kiosk advertising and Brand management and sales channel building. As discussed in Note 2, the Company exited its bank kiosk advertising and brand management and sale channel building segments, of which brand management and sale channel building segment qualified for presentation as a discontinued operation. See Note 26 for detail disclosures of this discontinued operation for the years ended December 31, 2015 and 2014. Since the revenue, cost, operating expenses, net loss and total assets amounts of the Company’s bank kiosk segment were immaterial, the Company combined the results of operations of bank kiosk segment and other disclosure information with its TV advertising segment for the years ended December 31, 2015 and 2014, respectively, as presented below:


For the year ended December 31, 2015


    Internet
Ad.
  TV &
Bank kiosks
Ad.
  Others   Inter-
segment and reconciling item
  Total
    US$
(‘000)
  US$
(‘000)
  US$
(‘000)
  US$
(‘000)
  US$
(‘000)
                     
Revenues     31,015       1,250       -       -       32,265  

Cost of revenues

    23,615       1,040       -       -       24,655  
Total operating expenses     11,545       1,057       4,324 (1)     -       16,926  
Gain on disposal of VIE included in total operating expenses     -       -       (20 )     -       (20 )
Goodwill impairment and impairment on fixed assets and intangible assets included in total operating expenses     1,652       172       -       -       1,824  
Impairment on equity method investments included in total operating expenses     -       -       874       -       874  
Depreciation and amortization expense included in total operating expenses     1,539       121       45       -       1,705  
Operating loss     (4,145 )     (847 )     (4,324 )     -       (9,316 )
                                         
Expenditure for long-term assets     3,308       -       156       -       3,464  
                                         
Net loss from continued operations     (2,769 )     (849 )     (4,100 )     -       (7,718 )
                                         
Total assets – December 31, 2015     33,727       3,148       17,362 (2)     (18,777 )     35,460  


(1) Including approximately US$2,256,000 share-based compensation expenses.


(2) Including approximately US$182,000 total assets held by brand management and sale channel building segment and US$1,882,000 assets classified as held for sale.


For the year ended December 31, 2014


    Internet
Ad.
  TV &
Bank kiosks
Ad.
  Others   Inter-
segment and reconciling item
  Total
    US$
(‘000)
  US$
(‘000)
  US$
(‘000)
  US$
(‘000)
  US$
(‘000)
                     
Revenues     31,261       6,705       -       -       37,966  

Cost of revenues

    25,645       6,026       -       -       31,671  
Total operating expenses     12,575       575       6,133 (1)     -       19,283  
Gain on disposal of VIE  included in total operating expenses     (266 )     -       -       -       (266 )
Goodwill impairment and impairment on fixed assets and intangible assets included in total operating expenses     4,193       -       -       -       4,193  
Depreciation and amortization expense included in total operating expenses     1,005       154       77       -       1,236  
Operating (loss)/income     (6,959 )     104       (6,133 )     -       12,988  
                                         
Expenditure for long-term assets     1,113               12       -       1,125  
                                         
Net (loss)/income from continued operations     (6,380 )     47       (6,088 )     -       (12,421 )
                                         
Total assets – December 31, 2014     43,851       13,524       9,547 (2)     (19,492 )     47,430  


(1) Including approximately US$4,840,000 share-based compensation expenses.


(2) Including approximately US$2,989,000 total assets held by brand management and sale channel building segment.


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Earnings (loss) per share


Earnings (loss) per share are calculated in accordance with ASC Topic 260, “Earnings Per Share”. Basic earnings (loss) per share is computed by dividing income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Common shares issuable upon the conversion of the convertible preferred shares are included in the computation of diluted earnings per share on an “if-converted” basis when the impact is dilutive. The dilutive effect of outstanding common stock warrants and options are reflected in the diluted earnings per share by application of the treasury stock method when the impact is dilutive.