DE's BS Review - Dec 2018

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Deferred channel costs under GAAP deferral

Impairment Assessment Performed

DE's BS Overview

Total Equity (m)

RE m)

Share Cap (-m)

Total Liabilities (m)

Unrecognised Tax Benefits (-m)

Provision for unrecognised tax benefits for GPH under US GAAP

Borrowings (-m)

Bank borrowing of GTW (for relationship management with Bank)

Income Tax Payable (-m)

Deferred Rev

Customer Deposits (-m)

Unidentified Deposit (-m)

Net Deferred Revenue (-m)

Deferred channel costs (m)

Deferred revenue (-m)

RPT Payables

Non-current (-m)

Accrued, Payables & Other Liabiltities

Current (-m)

Tax payables (-m)

WHT payavles (-m)

GST Payables (-m)

Provision (-m)

Restoration cost (-m)

Unutilised leave (-m)

Accruals (-m)

Accrued others (-m)

Mainly accrued channel costs and DJs commission (TalkTalk, BeeTalk)

Accrued rent-free period amrt (-m)

Accrued S&M (-m)

Accrued Bonus (-m)

Accrued hosting (-m)

Accrued royalties (-m)

Other Payable (-m)

Payables (IA) - (-m)

Payables (PPE) - (-m)

Non-trade payables (-m)

[GID] - Sedaya Trimurta Ultima (Xsys Network) - (m)

Loans from Wulongjun & Huang Qunyi (-m)

Non-Current (-m)

Retirement benefits (-m)

Provided by GTH, GID & GPH according to local labour law

Provision for restoration costs (-m)

Account Payables (-m)

Others (-m)

[GON] - Proxima Beta (-m)

Royalty payables for AoV (July-Oct'17)

Total Assets (582.9m)

Inventory (7k)

Mainly peripheral and mechanise items for marketing events use capitalised by GTW.

IA (2.7m)

Software (m)

IPs - HON (m)

Game License (m)

TWMBN (m)

KOF (m)

THBNS (m)

VNBNS(m)

THPBK (m)

AVA (m)

AK47 (m)

IDPBK (m)

DDT (m)

Restricted Cash (3m)

Current (0.7m)

Fixed Deposits (m)

Non-Current (2.3m)

Bank Guarantee (m)

Bank Guarantee provided by GON for rental of Galaxis office

Investments (12.1m)

Investment in Associates (m)

SDJ's investments in Caili and Duodian

Loan by VHB to Foody (m)

Eliminated at Group level

PPE (39.8m)

Construction-in-Progress (0.4m)

Motor Vehicle (0.6m)

Office Equipment & FF (1.2m)

Leasehold Impro (13.8m)

Server & Computers (23.7m)

Deferred Tax Assets (61.2m)

To copy the schedule done by Ryan here.

Account Receivables (71.7m)

[GON] - Google (m)

[GON] - Apple (m)

[GTW] - Family Mart (m)

[GTW] - 7-11 (m)

[GTH] - True Money (m)

[GTH] - 7-11 (m)

RPT Receivables (101.2m)

Prepaid Exp & other assets (122.5m)

Current (87.3m)

comprised mainly:

• short-term rental deposits
• utility deposits
• Prepaid income tax expense
• staff advances
• 
  

Deferred Channel costs (m)

Prepayments (m)

Prepaid others (m)

Other prepaid expenses such as:

• insurance
• FOL IP license for legendary players
• Bank guarantee commision fees (for GON's BG)
• prepaid software subscription fee
• Mstar song license fees

Prepaid rental (m)

Prepaid hosting fee (m)

Prepaid royalties (m)

Dauntless (m)

FOM (m)

POE (m)

DDT m)

VAT receivables (m)

Advances to Vendors (m)

Non-PPE related

Other Debtors (m)

Others (m)

Others comprised:

• Sponsorship income receivables
• Advances to payroll account (TMF)
• VN PIT

[SDJ] - 徐毓 (m)

[GON] Staff loans (m)

[GON] - Xsys Network (m)

Non-Current (35.2m)

Prepayments (5.7m)

Other prepayments (0.1m)

PPE Prepayments (1.0m)

IA Prepayments (4.6m)

Security Deposits (4.9m)

Deposit to EA - FO3 (1.8m)

Rental Deposit (3.1m)

C&B (168.6m)