Profile: Sky-mobi Ltd (MOBI.OQ)

MOBI.OQ on NASDAQ Stock Exchange Global Market

26 Nov 2014
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Sky-mobi Limited, incorporated on April 20, 2007, operates mobile application store in China. In its Maopao application store, users can browse, download and purchase a range of applications and content, such as games, music and books. In addition, the Company has established a mobile social network community in China, the Maopao Community, where it operates mobile social games and provide applications and social network content to its registered members. Maopao enables mobile applications and content to be downloaded and run on a variety of mobile handsets with different hardware and operating system configurations. In June 2014, it sold its 37.9% equity interest in Shanghai Fangcun Information Technology Co., Ltd. (Fangcun) to Guangdong Alpha Animation and Culture Co., Ltd.

Maopao enables its feature phone and smartphone users, who have a desire for social interaction, acceptance and entertainment, to enjoy handsets with more entertainment functions, social networking, mobile social games and a selection of applications and content at attractive price points, often after a free trial. Handset companies including handset manufacturers and independent design houses pre-install Maopao on feature phones and smartphones, providing users with a standardized interface to download and use mobile applications and content. The Company works handset retailers, including mobile operators’ retail locations, large consumer electronics retailers and small self-employed handset retail shops to help customers who do not have readily available computer access or high speed mobile network connections to install its Maopao application store and download its applications and content. Through Maopao, content providers, including application developers and content title owners applications and content can be delivered to thousands of handset models without extensive customization to hundreds of millions of potential users. The Company primarily collects sales proceeds from mobile service providers who utilize mobile network operators’ billing channels to collect payments when users purchase products from Maopao. It also works ith independent payment processing agents to collect sales proceeds through a variety of payment channels, including pre-paid phone cards, pre-paid game cards, bank debit cards, wire-transfers, Alipay and others. The Company cooperates with mobile network operators without using intermediaries, such as service providers to collect the sales proceeds from users to enhance channel efficiency and ultimately improve its gross margin.

As of March 31, 2013, Maopao had approximately 1.2 billion cumulative users. Most users access its applications and content offerings primarily through the pre-installed Maopao application store on their mobile handsets. Users can also download applications or content available through Maopao over-the-air. The Company offers users the option of downloading certain applications from its Website, In addition, it has designed customized versions of Maopao that can be easily downloaded through alternative sources to low-cost mobile handsets that have not pre-installed Maopao. The main categories of mobile applications and content available through Maopao include community-based applications and content, including mobile social games and social network applications and single-user applications and content, including single-player games, multimedia applications and other single-user content. The Company offers a variety of social games and social network functions, such as instant messaging, blogging, personal profiling, content sharing and virtual gifting, on its Maopao Community. Some of the Company’s mobile social games, such as Fantasy of the Three Kingdoms, are mobile versions of popular Internet based games, which require players to have game-specific applications installed to enable access to game servers. It also offers mobile social versions of popular card games and strategic games. It has a selection of social network tools on Maopao, including the mobile versions of popular Internet applications in China, such as QQ instant messenger and Sina Microblog, as well as its own Maopao Community social network.

As of March 31, 2013, the Company offered approximately 63,372 single-player games through Maopao and approximately 906.9 million downloads of its single-player games occurred in the fiscal year ended March 31, 2013. Its single-player games include Beauty Dou Di Zhu, a card game, and Maple Story, a role-playing and action game. The Company offers a number of free single-player games on Maopao. Once users are familiar with its free games they can download the game, usually for approximately RMB2 to RMB4 per game. In addition, it usually charges users RMB0.1 to RMB10 for purchasing an in-game item, such as performance-enhancement skills, weapons and accessories. The Company also offers periodic promotions in which mobile phone users can download a package of single-player games for a special price. For some single-player games, it charges a one-time subscription fee to allow users to play these games an unlimited number of times over a period, typically less than one month.

The Company’s mobile music applications offer access to mainstream music content providers, such as Ai Ting Bar. Users can stream music directly to their handsets or download songs to be stored in their handsets or used as ringtones. Users may stream music for free, and pay approximately RMB2 to download a song or lyrics. Users can also choose an unlimited download package for RMB10 per month, or RMB6 to RMB8 per half month. Users can subscribe to its e-book application, Kaiyue, and download books for approximately RMB2 to RMB4 per book, or choose an unlimited download package for RMB18 per month. Users can download video clips to be stored in their mobile phones for RMB8 to RMB10 per month for an unlimited download package. Users can download images to be stored in their mobile phones or used as wallpapers for approximately RMB2 for one set of images, or RMB8 for fifteen sets of images (each set contains six images).

Mobile users can purchase lottery tickets and recharge the balance on their pay-as-you-go mobile phones through applications on Maopao. The Company offers WAP Internet access to Websites preapproved by us through the Maopao browser, its WAP browser. Users can access a range of other applications through Maopao. Some of the applications include instant maps, real-time stock quotes and analysis, 139 mailbox, weather, network clock and electronic dictionary. It offers most of these applications for free. The Company operates all of the applications and content on Maopao, such as mobile social games, on its network infrastructure of over 570 computer servers. Its network infrastructure automatically reports any detected malfunctions on a real-time basis to its network control center.

The Company competes with NetDragon Websoft Inc., Shanghai Coolbar Co., Ltd., Apple Inc, Guangzhou Ucfly Company, Qihoo 360, Alibaba, Tencent, China Unicom, China Mobile, and Baidu.

Company Address

Sky-mobi Ltd

10/F, Building B
United Mansion, No. 2 Zijinghua
HANGZHOU   ZHJ   310013
P: +86571.87770978
F: +86571.87758616

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