Youku Tudou Inc (ADR) (NYSE:YOKU), China’s leading Internet television company, announced that the Company has filed its annual report on Form 20-F that includes its audited financial statements for three years ended December 31, 2014 (the “2014 Annual Report”) with the Securities and Exchange Commission(the “SEC”) on April 28, 2015.
Within the 2014 Annual Report, among other things, the Company adjusted upward its previously reported audited net revenues for the years ended December 31, 2012 and 2013, and unaudited net revenue for the year ended December 31, 2014 by RMB114.2 million, RMB40.5 million and RMB193.3 million, respectively. The Company’s previously disclosed audited net losses for the years ended December 31, 2012 and 2013, and unaudited net loss for the year ended December 31, 2014 have been adjusted downward by RMB21.2 million, upward by RMB19.4 million, and downward by RMB51.1 million, respectively. These adjustments were made mainly in connection with a restatement of the Company’s consolidated financial statements reflecting certain revisions to its accounting treatment for (i) licensed copyrights and (ii) non-monetary exchanges of licensed copyrights, as further described in the 2014 Annual Report, to correct certain errors in the preparation of the previously issued financial statements (the “Restatement”). The Restatement was made in response to a review by the SEC of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2013. More detailed explanation of the adjustments have been reflected in the Company’s filed 2014 Annual Report.
The 2014 Annual Report is available on the Company’s website at ir.youku.com. Holders of the Company’s securities may request a hard copy of the Company’s annual report free of charge according to the instructions provided on the Company’s website. (Original Source)
Shares of Youku Tudou opened today at $18.87 and are currently trading down at $18.27. YOKU has a 1-year high of $25.56 and a 1-year low of $11.85. The stock’s 50-day moving average is $15.07 and its 200-day moving average is $17.21.
On the ratings front, Youku Tudou has been the subject of a number of recent research reports. In a report issued on April 20, Summit Research analyst Henry Guo initiated coverage with a Hold rating on YOKU and a price target of $16, which reflects a potential downside of -15.2% from last closing price. Separately, on March 23, Nomura’s Chao Wang reiterated a Buy rating on the stock and has a price target of $24.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Henry Guo and Chao Wang have a total average return of 11.1% and 12.3% respectively. Guo has a success rate of 57.9% and is ranked #1160 out of 3581 analysts, while Wang has a success rate of 61.1% and is ranked #1109.
In total, one research analyst has rated the stock with a Sell rating, one research analyst has assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $18.87 which is -6.0% under where the stock opened today.
Youku Tudou Inc is an Internet television company in china. Its internet television platform enables consumers to search, view and share high-quality video content quickly and easily across multiple devices.