Highlights
- Added 12.9 million registered users - taking total registered users to 40.8 million
- Added 18 new business partners
- Initiated O2O business strategy
- Expanded into new channels to market
- Achieved record platform gross transaction value
CEO and Chairman’s Review
On behalf of the Board of Directors, it is with great pleasure that we present the FY2014 annual report for 99 Wuxian Limited (“99 Wuxian” or “the Company”). This year we delivered a record result whilst strongly positioning the Company for continued growth in the future.
For the 2014 financial year, net revenue increased by 113% to RMB 154.2 million (AUD 27.7 million), statutory earnings before interest, tax, depreciation and amortisation (“EBITDA”) increased 132% to RMB 11.8 million (AUD 2.1 million) and statutory net profit after tax increased 160% to RMB 7.0 million (AUD 1.3 million). Our statutory performance was adversely impacted by the depreciation of the Australian dollar in FY2014. Adjusting for this impact, underlying1 EBITDA increased by 124% to RMB 17.7 million (AUD 3.2 million), while underlying profit before tax increased by 138% to RMB 14.8 million (AUD 2.7 million).
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