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Jiayuan Announces First Quarter 2012 Financial Results

BEIJING May 23, 2012 China March 31, 2012


  • Net revenues RMB87.4 million US$13.9 million
  • Operating income RMB3.9 million (US$622,000) RMB16.5 million [2] RMB7.8 million US$1.2 million RMB19.2 million
  • Net income attributable to Jiayuan RMB5.2 million (US$831,000) RMB12.1 million non-GAAP net income attributable to Jiayuan RMB9.1 million US$1.4 million RMB14.8 million

[1] This announcement contains translations of certain Renminbi ("RMB") amounts into U.S. dollar ("US$") amounts at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB amounts into US$ amounts as of and for the quarter ended March 31, 2012, were made at an exchange rate of RMB6.2975 to US$1.00, representing the rate as certified by the H.10 weekly statistical release of the Federal Reserve Board on March 30, 2012. Jiayuan’s functional currency is U.S. dollar and reporting currency is RMB.

[2] Explanation of Jiayuan’s non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying "Non-GAAP Financial Measures" and "Reconciliations to Unaudited Condensed Consolidated Statements of Operations".

Rose Gong Chinese New Year March 2012 China

"Strong growth in our online business drove top-line growth, while prudent cost management enabled significantly improved bottom-line performance," commented Shang Koo, CFO of Jiayuan. "Sales and marketing spending was lower than anticipated as we focused our spending on smarter marketing through more effective channels. User response to our wireless platform has exceeded our expectations, and we expect to be able to quickly ramp up monetization of this exciting potential revenue generator. Looking ahead, we aim to build on our leadership in technology and user experience by focusing on research and development, and we expect to see concrete results from these efforts from the second half of this year."

First Quarter 2012 Operational Results

[3] March 31, 2012


average monthly paying user accounts

Average monthly revenue per paying user ARPU online services RMB22.0 RMB21.5 RMB21.5

[3] The number of registered user accounts is an accumulated amount and includes both accounts that are registered on Jiayuan’s online platform and those registered on its wireless platforms.

[4] Active user accounts are registered user accounts through which registered users have logged in to the website at least once within a calendar month, in the case of user accounts registered in prior months, or on at least two separate days within a calendar month, including the day of completion of the registration process, in the case of user accounts newly registered in the calendar month.

First Quarter 2012 Financial Results

net revenues RMB87.4 million US$13.9 million RMB88.6 million

  • RMB77.3 million US$12.3 million RMB57.0 million RMB75.7 million
  • RMB10.1 million US$1.6 million RMB10.3 million RMB12.7 million

Cost of revenues RMB31.1 million US$4.9 million RMB22.0 million RMB29.6 million

Gross profit RMB56.3 million US$8.9 million RMB46.4 million RMB59.0 million

Selling and marketing expenses RMB35.4 million US$5.6 million RMB19.8 million RMB43.0 million

RMB12.9 million US$2.1 million RMB8.2 million RMB16.0 million

Research and development expenses RMB4.1 million (US$650,000) RMB1.9 million RMB4.3 million

Operating income RMB3.9 million (US$622,000) RMB16.5 million RMB4.3 million no n-GAAP operating income RMB7.8 million US$1.2 million RMB19.2 million RMB322,000

Foreign currency exchange net gain RMB61,000 (US$10,000) RMB2.8 million

[5] RMB5.2 million (US$831,000) RMB12.1 million RMB1.2 million non-GAAP net income attributable to Jiayuan RMB9.1 million US$1.4 million RMB14.8 million RMB2.8 million

[6] RMB0.17 (US$0.03) RMB0.16 (US$0.03) RMB0.12 US$0.02 RMB0.04 US$0.01

non-GAAP basic and diluted net income per ADS RMB0.29 (US$0.05) RMB0.28 (US$0.04) RMB0.03 (US$0.00) RMB0.09 (US$0.01)

March 31, 2012 cash and cash equivalents and short-term deposits RMB600.1 million US$95.3 million Cash flows from operating activities RMB15.7 million US$2.5 million

March 31, 2012

[5] Since the third quarter of 2011, net income/(loss) attributable to Jiayuan is equivalent to net income/(loss) attributable to ordinary shareholders as all outstanding preferred shares were converted into ordinary shares upon the completion of Jiayuan’s IPO in May 2011.

[6] Basic and diluted net income/(loss) per ADS are calculated based on net income/(loss) attributable to ordinary shareholders and the corresponding basic and diluted number of ADSs, assuming that, during each period presented, every two ADSs represent three ordinary shares of Jiayuan.

Management Updates

June 1, 2012

Second Quarter 2012 Outlook

RMB93 million to RMB95 million

Conference Call Information

8 p.m. May 23, 2012 8 a.m. May 24, 2012

Dial-in details for the earnings conference call are as follows:



United States:             


Hong Kong:                


United Kingdom:         



 800-8190-121 (or 400-6208-038 for mobile)



May 31, 2012





About Jiayuan

China China China

Forward-Looking Statements

China China

Non-GAAP Financial Measures

We disclose non-GAAP financial measures of operating income, net income to International Ltd, net (loss)/income attributable to ordinary shareholders and net (loss)/income per ADS, each of which is adjusted to exclude share-based compensation expense. We review non-GAAP financial measures to obtain an additional understanding of our operating performance. We also believe it is useful supplemental information for investors and analysts to assess our operating performance without the effect of non-cash share-based compensation expense, which have been and will continue to be significant recurring expenses in our business. For a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see "Reconciliation To Unaudited Condensed Consolidated Statement of Operations" included in this press release.

However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that it does not include all items that impact our non-GAAP financial measures during the period. In addition, because non-GAAP financial measures are not calculated in the same manner by all companies, it may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures in isolation from or as an alternative to GAAP financial measures. Management compensates for this limitation by providing specific information regarding the GAAP amount excluded from the non-GAAP measure.

For investor and media inquiries, please contact:


Melody Liu International Ltd.

+86 (10) 6442-2321

[email protected]

Martin Reidy

Brunswick Group LLP

+86 (10) 5960-8600

[email protected]

New York

Cindy Zheng

Brunswick Group LLP

+1 (212) 333-3810

[email protected]





March 31,

December 31,

March 31,










Current assets:

Cash and cash equivalents





Term deposits





Accounts receivable, net





Deferred tax assets





Prepaid expenses and other current assets





Total current assets



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