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TheStreet Open House

Sky-mobi Limited Announces Unaudited Financial Results For The Fiscal Third Quarter 2013

Stocks in this article: MOBI

Revenues for the fiscal year ending March 31, 2013 are expected to be in the range of RMB555 million to RMB565 million, revised upward from previous outlook of RMB540 million to RMB 560 million.

These are Sky-mobi's current projections, which are subject to change.

Other Announcements

The Company announced today the promotion of Mr. Wayne Wei Luan to the position of Vice President, effective immediately. In his new position, Mr. Luan will be responsible for directing the Company's strategic investments.

Mr. Luan served as the Company's general manager of investment and strategy and operations director and products operations general manager since 2009. Prior to joining the Company, Mr. Luan served successively as the director of the SK China Internet business unit, the vice president of InfoMax, Inc., the vice president of Fone network Info Tech Ltd and a member of the mobile internet product design and development team at Sohu Inc. Mr. Luan received his bachelor's degree from Beijing Union University and is currently an EMBA candidate at Cheung Kong Graduate School of Business.

The Company also announced the departure of Mr. Walker Yuangang Wu, Vice President in charge of the Company's channel management, effective immediately. Mr. Wu is leaving the Company to establish a mobile internet technology company that focuses on mobile games, a joint venture formed by the Company and Mr. Wu.

The Company announced today that one of its independent directors, Mr. Fan Bao, will be stepping down from his role to focus on his core business. The Company's board of directors has initiated a search process for a new independent director with the requisite experience and qualifications to replace Mr. Fan Bao. The search process will be overseen for the Company by a newly formed search committee of the board.

Conference Call and Webcast

The Company will hold a conference call on Monday, February 4, 2013 at 8:00 am Eastern Time, or 9:00 pm Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

United States:  +1-646-254-3515
International Toll Free:  +1-855-500-8701
China Domestic:  400-1200654
Hong Kong:  +852-3051-2745
Conference ID:  # 92236425

The replay will be accessible through February 11, 2013 by dialing the following numbers:

United States Toll Free:  +1-855-452-5696
International:  +61-2-8199-0299
Conference ID:  # 92236425

A webcast of the conference call will be available on the Company's investor relation website at http://ir.sky-mobi.com .

About Non-IFRS Financial Measures 

To supplement its consolidated financial statements prepared in accordance with International Financial Reporting Standards, or IFRS, Sky-mobi uses several non-IFRS financial measures defined below. The Company believes management and investors benefit from non-IFRS financial measures in assessing the Company's performance and prospects. Specifically, the Company believes that non-IFRS financial measures provide meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of the Company's operating performance.

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