HONG KONG, March 28, 2019 (GLOBE NEWSWIRE) -- Wanka Online Inc. (“Wanka Online” or the “Company”；Stock Code:1762.HK) The Company is pleased to announce the consolidated results of the Group for the year ended 31 December 2018 (the “Reporting Period”). During the Reporting Period, the revenue of Wanka Online was RMB 1,546 million, representing a 218.4% year-over-year increase, and the gross profit was RMB 217 million, representing a 372.0% year-over-year increase. The adjusted net profit was RMB 127 million, representing a 1,603.5% year-over-year increase, and the gross profit margin increased from 9.5% in 2017 to 14.0% in 2018.
As the founder of an Android-based mobile ecosystem, the Company has established the “Mobile Hardcore Alliance” and “Quick App Alliance” with a number of leading domestic smartphone manufacturers, formulating and implementing relevant industry technical standards. With this advantage, the Company can reach the largest group of smartphone users in China at any time anywhere, so as to optimize the promotion work of customers in different industries.
Our revenue increased significantly from RMB 485.6 million in 2017 to RMB 1,546.3 million in 2018, as we enhanced our business relationships with smartphone manufacturers and other suppliers of distribution channels, we were able to expand the number of mobile apps and mobile games we advertised. During the Reporting Period, the Company's revenue mainly came from three parts: mobile advertising services, online-video distribution services and game co-publishing services. Our mobile advertising services consist from mobile game distribution and mobile app distribution, the revenue of our mobile advertising services increased significantly from RMB 485.6 million in 2017 to RMB 1,443.3 million in 2018, representing a 197.2% year-over-year increase.
Wanka Online owns the core Data AI Platform Group (“DAPG”) technology platform which is able to connect smartphone users efficiently and optimise various customised promotions and deliver customised contents created by marketers to target smartphone users. By building this ecosystem, the Company can help the distribution channels, especially the smartphone manufacturers, to precisely match the online advertising opportunities with the industry customers seeking to release content advertisements, so as to maximize the liquidity of the distribution channels of smartphone manufacturers. At the same time, Wanka Online has accumulated a huge user base by pushing industry customers to take advantage of smartphone manufacturers in a cost-effective way. The substantial increase in revenue represents the market's recognition of the Company's business model, which also makes the Company's visibility and status in the industry significantly improved. These achievements further highlight the value of Wanka Online as an Android-based ecological chain enterprise in promoting the development of Android ecosystem.
There is a first-mover advantage in connectivity with Chinese smartphone manufacturers and their established Android ecosystem participants. To promote the diversified development of the Company's business model with strong liquidity, in 2018, the Company launched two new businesses, namely, online-video distribution services and game co-publishing services, which enriched the Company's profit channels and brought in RMB67.4 million and RMB10.5 million, respectively. The Company mainly distributes videos in the finance, entertainment and movies. As at 31 December 2018, the Company had co-published the following 13 mobile games in China. As the Company enhanced our business relationships with smartphone manufacturers and other suppliers of distribution channels, the Company was able to expand the number of mobile apps and mobile games advertised to 3,869 in 2018, up 1,052 from 2017.
“As a fast-growing technology Company in the mobile Internet market, the Company is committed to helping enterprises from all walks of life, connecting with hundreds of millions of android smartphone users in China,” Mr.GAO Dinan, the founder, executive Director, chairman of the Board and chief executive officer of Wanka Online, said. With the rapid growth of mobile advertising services, online video and digital entertainment market, the Company relies on its core DAPG platform to efficiently connect smartphone users, thus optimizing the promotion of customers in different industries and delivering personalized content created by industry customers to target mobile phone users.
In March 2018, the Company co-founded the Quick App Alliance with top 10 Chinese smartphone manufacturers, including vivo, Huawei, OPPO, Xiaomi, Lenovo, Gionee, Meizu, ZTE, Nubia and Oneplus. It connects users to a wide range of online and offline services, including retail, e-commerce, life services and government services. By the end of December 2018, there were more than 10 thousand Quick App developers in China, and about 1 billion android-based devices have supported Quick App functions.
In 2019, the Company will continue to build a leading distribution platform for online contents and further foster our ecosystem, thereby providing better services to our customers and business partners，and better value for our shareholders. “The Company will continue to expand the platform with quality services and is committed to the development of a healthy and prosperous Android ecosystem,” Mr. GAO said. In 2019, the Company will keep centering on the 5G technology, enhancing technologies used for data and scenario analytics in order to manage effectively the huge amount of network traffic arising from a dramatic increase in the quality transmission of data and video contents in the future. The Company will also actively develop and deepen cooperation with ecosystem participants, diversify service offerings, and attractive value-added potential for ecosystem participants. In terms of sales, the Company will use indirect sales in conjunction with direct sales efforts to these new regional markets, especially in second-and third-tier cities in China. Wanka Online intended to expand further into large overseas markets in order to attract global mobile app developers to develop applications compatible with Android-based smartphones produced in China, which will help Chinese smartphone manufacturers grow their user base globally.
Contact:
Barrett Kan
Mobile: (852)6765 0474/(86)15955107306