User Growth and Engagement - The total user base of the platform increased by 21.4% year-on-year to 1.059 million, with average monthly active users growing by 17.4% compared to the previous year[5]. - The group successfully hosted several major events, including the WBC Professional Boxing Championship in Foshan, which attracted over 300 million viewers[8]. - The company has successfully launched multiple targeted products to improve user engagement and satisfaction, driven by technological innovation[16]. - The introduction of the "Ruyi" intelligent dialogue assistant, utilizing AI technology, aims to provide personalized interaction and enhance user experience in the sports knowledge paid sector[16]. - The group aims to deepen cooperation with leading platforms during the European Cup period to enhance channel collaboration and sales capabilities, effectively promoting user conversion to paid models[22]. Financial Performance - The group's revenue decreased by 16.1% to HKD 411.4 million compared to 2023, primarily due to adjustments in the business model and a decline in consumer spending[9]. - The net loss narrowed to HKD 14.7 million, a reduction of 32.2% from the HKD 21.7 million loss recorded in 2023[9]. - Total revenue for 2024 was approximately HKD 411.4 million, a decrease of 16.1% compared to 2023[36]. - The gross profit for 2024 was approximately HKD 145.3 million, a decrease of 19.0%, with a gross margin of 35.3%[39]. - The company reported a loss attributable to shareholders of HKD 14,718,000 for 2024, compared to a loss of HKD 21,665,000 in 2023, representing a 32.5% improvement[69]. Revenue Streams - Revenue from the sports knowledge subscription platform rose by HKD 31.1 million or 13.7% year-on-year[6]. - The total sales of the sports knowledge paid platform reached HKD 258.8 million in 2024, representing a 13.7% increase compared to 2023[16]. - Revenue from sports and leisure games decreased by 41.6% to approximately HKD 132.3 million in 2024[38]. - The sports knowledge subscription platform generated revenue of HKD 258,764,000 in 2024, up 14% from HKD 227,617,000 in 2023[92]. Market Trends and Projections - The Chinese sports industry reached a total market size of CNY 3.67 trillion in 2023, projected to grow to CNY 5 trillion by 2025[12]. - The sports consumption market in China reached CNY 1.5 trillion in 2023, expected to increase to CNY 2.8 trillion by 2025[12]. - The company plans to deepen the application of artificial intelligence technology in the sports industry to enhance user experience and operational efficiency by 2025[14]. - Advanced technologies like AI will be integrated into the sports industry by 2025, improving event analysis and user experience through personalized recommendations[32]. Business Strategy and Innovation - The group is focusing on optimizing its business model and strategy, reducing investment in lower-return gaming businesses[7]. - The company is committed to expanding its business boundaries and optimizing service content to meet the growing demand for high-quality sports products and services[14]. - The group is exploring new business models such as joint marketing and membership systems to optimize user experience and create new growth opportunities for its sports knowledge subscription business[23]. - The company aims to create greater value for shareholders and contribute more to the development of the sports industry through innovation and teamwork[14]. Cost Management and Expenses - Sales and marketing expenses decreased by 20.7% to HKD 115.8 million in 2024[42]. - Administrative expenses decreased slightly by 1.3% to HKD 45.4 million in 2024[43]. - The group recorded a net loss of HKD 14.7 million in 2024, a decrease from a loss of HKD 21.7 million in 2023, primarily due to an increase in other income and a reduction in sales and marketing expenses[47]. Investment and Assets - The group's investment portfolio as of December 31, 2024, amounted to approximately HKD 234.3 million, down from HKD 275.5 million in 2023[48]. - The group's investment in private equity funds totaled HKD 232.0 million as of December 31, 2024, representing 24.0% of total assets, compared to HKD 274.3 million in 2023[49]. - The fair value of the investment in the China Prosperity Capital Mobile Internet Fund was HKD 159.2 million as of December 31, 2024, with a fair value gain of HKD 2.2 million recognized as other income and loss[50]. Corporate Governance and Compliance - The company is committed to maintaining good corporate governance standards, adhering to all relevant regulations and guidelines throughout the fiscal year ending December 31, 2024[120]. - The audit committee consists of independent non-executive directors, including Ms. Liu Haoming, Mr. Zang Dongli, and Mr. Zhou Jingping, who reviewed the accounting principles and discussed matters related to audit, risk management, internal control, and financial reporting for the year ending December 31, 2024[122]. Future Outlook - The company plans to expand its international business by increasing language coverage for overseas versions and enhancing its global sports event information and analysis services[33]. - The company aims to drive international expansion with a focus on the Southeast Asia, Europe, and Americas markets, increasing the international market penetration and brand influence of its gaming products[28]. - The 2025 FIFA Club World Cup will take place in Miami, USA, from June 15 to July 13, 2025, expected to generate significant commercial value and boost overall revenue for the company[34].

Revenue Performance - In the first half of 2024, the group's revenue decreased by 23.7% to HKD 208.3 million compared to the same period in 2023, primarily due to adjustments in the business model and industry uncertainties [6]. - Total revenue for the first half of 2024 was HKD 208.3 million, a decrease of 23.7% compared to HKD 272.9 million in the same period of 2023 [18]. - Revenue from the sports and leisure gaming segment was HKD 76.7 million, down 42.9% or HKD 57.7 million from HKD 134.4 million in 2023 [19]. - The sports knowledge subscription platform generated revenue of HKD 125.0 million, an increase of HKD 10.3 million or 8.9% from HKD 114.7 million in 2023, accounting for 60.0% of total revenue [18]. - Revenue for the digital sports entertainment business reached HKD 208,311,000 for the six months ended June 30, 2024, a decrease of 23.7% from HKD 272,890,000 in the same period of 2023 [92]. User Engagement and Growth - The sports knowledge paid platform recorded an increase in revenue of HKD 10.3 million or 8.9% compared to the same period in 2023, with average monthly active users growing by 4.0% [5]. - The total user base of the platform increased by 10.1% to 96.06 million compared to the end of 2023 [5]. - The average monthly active users increased by approximately 4.0% in the first half of 2024, with a significant 89.0% growth in June during the UEFA Euro 2024 compared to the same month in 2023 [11]. Financial Performance and Losses - The group narrowed its loss to HKD 5.7 million, a reduction of 40.1% compared to a loss of HKD 9.5 million in the same period of 2023, attributed to improved gross margins and reduced marketing expenses [6]. - The net loss for the period was HKD 5.7 million, an improvement from a loss of HKD 9.5 million in 2023, attributed to increased gross margin and reduced sales and marketing expenses [25]. - The company reported a loss before tax of HKD 10,810,000 for the six months ended June 30, 2024, compared to HKD 9,541,000 in the same period of 2023 [95]. - The company reported a loss attributable to owners of approximately HKD 5,662,000 for the six months ended June 30, 2024, compared to a loss of HKD 9,462,000 for the same period in 2023, representing a 40% improvement in loss [99]. Cost Management and Efficiency - Sales and marketing expenses decreased by 26.5% to HKD 61.5 million from HKD 83.7 million in 2023, aligning with the decline in sports and leisure gaming revenue [22]. - Administrative expenses slightly decreased by 1.6% to HKD 21.5 million from HKD 21.8 million in 2023, reflecting the company's focus on cost efficiency [23]. - The company is focusing on product innovation by integrating AI technology with user data to provide personalized betting suggestions and event predictions [8]. Strategic Initiatives and Investments - The group continues to invest in artificial intelligence technology to create and distribute content for its sports knowledge paid services [5]. - The adjustment of the business model focuses on optimizing the sports and leisure gaming business while reducing investment in lower-return gaming operations [5]. - The company is actively exploring diversified cooperation models in the "Sports Lottery +" sector, including partnerships with coffee, IP, and esports [12]. - The company plans to continue developing its core products while exploring new opportunities in the sports entertainment sector [5]. Market Presence and Brand Development - The group successfully hosted the WBC Professional Boxing Championship in Foshan, China, attracting over 300 million views, significantly enhancing brand awareness and influence [5]. - The company achieved a strategic partnership with major broadcasting platforms for the UEFA Euro 2024, enhancing market influence and revenue through complementary services [10]. - The company aims to create a vibrant digital sports entertainment community, aligning its strategy with national policies on sports and health consumption [7]. Asset Management and Financial Position - As of June 30, 2024, the group's investment portfolio amounted to HKD 250.4 million, a decrease from HKD 275.5 million as of December 31, 2023 [26]. - The total assets of the group as of June 30, 2024, were HKD 1,012.2 million, down from HKD 1,077.0 million as of December 31, 2023 [35]. - The company reported a total bank borrowing of HKD 10,744,000 as of June 30, 2024, down from HKD 19,853,000 as of December 31, 2023 [128]. - The company’s total liabilities decreased from HKD 294,651 thousand to HKD 280,607 thousand, indicating a reduction of about 5% [76]. Shareholder Information and Equity - The board decided not to declare any interim dividends for the period [40]. - As of June 30, 2024, Dr. Zhang Lijun held 1,034,563,113 shares, representing approximately 22.86% of the issued share capital [44]. - The company has a total of 55,000,000 unexercised share options granted under the 2012 plan as of June 30, 2024 [48]. Research and Development Focus - The company continues to focus on research and development, particularly in artificial intelligence and related technologies [151].

Revenue Performance - The sports knowledge subscription platform recorded revenue of HKD 125.0 million in the first half of 2024, an increase of 8.9% compared to the same period in 2023[4]. - Revenue for the group decreased by 23.7% to HKD 208.3 million compared to the same period in 2023, primarily due to adjustments in the business model and industry uncertainties[2]. - Total revenue for the first half of 2024 was HKD 208.3 million, a decrease of 23.7% compared to HKD 272.9 million in the same period of 2023[12]. - Revenue from sports and leisure games decreased by 42.9% to HKD 76.7 million, down from HKD 134.4 million in 2023, due to market instability and reduced consumer spending[10][13]. - Revenue for the six months ended June 30, 2024, was HKD 208,311,000, a decrease of 23.7% compared to HKD 272,890,000 for the same period in 2023[47]. User Engagement - The total user base increased by 10.1% to 96.06 million compared to the end of 2023[2]. - The sports knowledge subscription platform's average monthly active users grew by 4.0% compared to the same period in 2023[1]. - Active users grew by approximately 4.0% on average per month, with a significant increase of 89.0% in June 2024 compared to the same month in 2023[7][12]. - User engagement metrics showed a 40% increase in active users, reaching 5 million by the end of the reporting period[72]. - Customer retention rates improved to 85%, reflecting successful engagement initiatives and loyalty programs[72]. Financial Performance - The group narrowed its loss to HKD 5.7 million, a 40.1% reduction from the HKD 9.5 million loss in the same period of 2023, attributed to improved gross margins and reduced marketing expenses[2]. - Gross profit for the first half of 2024 was HKD 80.6 million, a decrease of 14.6% from HKD 94.3 million in 2023, with a gross margin increase from 34.6% to 38.7%[14]. - The company reported a net loss of HKD 5.7 million for the six months ended June 30, 2024, an improvement from a loss of HKD 9.5 million in the prior year[33]. - The total comprehensive income for the period amounted to a loss of HKD 37,248,000, which includes a loss of HKD 9,462,000 from the period[37]. - The company reported a net loss before tax of HKD 5,662,000 for the six months ended June 30, 2024, compared to a loss of HKD 9,462,000 in the same period of 2023[53]. Cost Management - Sales and marketing expenses decreased by 26.5% from HKD 83.7 million in the same period of 2023 to HKD 61.5 million, aligning with the decline in revenue from sports and leisure games[17]. - Administrative expenses slightly decreased by 1.6% from HKD 21.8 million in 2023 to HKD 21.5 million, reflecting the company's focus on cost efficiency[18]. - The company incurred expected credit losses of HKD 3,330,000 for accounts receivable, which was not present in the previous year[50]. - Total financial expenses decreased to HKD 298,000 from HKD 763,000 year-on-year, reflecting a reduction in bank borrowing interest[49]. Strategic Initiatives - The launch of the AI assistant "Ruyi" aims to enhance product competitiveness and user retention through a large model AI assistant in the "sports + lottery" vertical[2]. - The group plans to deepen its engagement in short video platforms and live streaming to enhance user participation and conversion rates[4]. - The collaboration with major broadcasting platforms for the 2024 European Cup aims to enhance market influence and revenue through complementary services[6]. - The company is focusing on product innovation and global market distribution in the sports gaming sector to enhance user engagement[10][13]. - The company is exploring additional revenue streams through partnerships with major sports leagues, aiming for a 5% contribution to overall revenue by 2025[72]. Investment and Assets - As of June 30, 2024, the group's investment portfolio was valued at HKD 250.4 million, down from HKD 275.5 million as of December 31, 2023[20]. - The group invested HKD 249.1 million in private equity funds, representing 24.6% of total assets, with significant investments in the China Prosperity Capital Mobile Internet Fund and New Rock Capital Fund[21]. - The fair value of the investment in the China Prosperity Capital Fund decreased to HKD 146.0 million from HKD 157.0 million, with a recognized loss of HKD 11.0 million during the period[21]. - Total assets as of June 30, 2024, amounted to HKD 1,012.2 million, a decrease from HKD 1,077.0 million as of December 31, 2023[29]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 15% to 20% based on current market trends and user acquisition strategies[72]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[72]. - The launch of a new AI-driven sports analytics tool is scheduled for Q1 2025, anticipated to attract new partnerships and revenue streams[72]. - Investment in R&D has increased by 30%, focusing on the development of AI technologies and new gaming platforms[72]. - A strategic acquisition of a smaller gaming company was completed, expected to enhance the company's product offerings and user base by 1 million users[72].

Financial Performance - In 2023, the total revenue decreased by 30.3% to approximately HKD 490.2 million, primarily due to reduced income from sports and leisure gaming businesses [18]. - The company recorded a loss of HKD 23.3 million in 2023, compared to a profit of HKD 17.7 million in 2022, due to decreased income from the sale of a subsidiary and foreign exchange gains [18]. - Total revenue for 2023 was approximately HKD 490.2 million, a decrease of 30.3% compared to HKD 703.5 million in 2022 [41]. - Gross profit for 2023 was approximately HKD 179.4 million, a decrease of 28.9%, with a slight increase in gross margin from 35.9% in 2022 to 36.6% in 2023 [43]. - Other income and losses recorded HKD 6.0 million in 2023, a significant decrease from HKD 84.6 million in 2022, primarily due to the sale of a subsidiary in the previous year [44]. - Selling and marketing expenses decreased by 23.7% to HKD 146.1 million in 2023, mainly due to reduced marketing and advertising costs [45]. - Administrative expenses decreased by 21.6% to HKD 45.9 million in 2023, due to cost reallocation and restructuring measures [46]. User Growth and Engagement - The focus product "Crazy Red Single" generated revenue exceeding HKD 227.6 million in 2023, with average monthly active users increasing by 16.1% compared to 2022 [17]. - The total user base increased by 22.8% compared to 2022, indicating a growing interest among younger lottery users and urban white-collar workers [17]. - The user base of China Sports Lottery Network has exceeded 200 million, positioning it among the top platforms in the Chinese football lottery sector [24]. - As of December 31, 2023, the platform accumulated 87 million registered users, an increase of 22.8% from the end of 2022 [38]. Strategic Initiatives and Future Outlook - The upcoming 2024 Paris Olympics is expected to significantly boost revenue, profit, and traffic for the company, as it is the first fully open Olympic event post-pandemic [14]. - The company aims to leverage AI technology and big data resources to enhance the quality of its digital sports entertainment offerings [17]. - The company plans to leverage major sporting events in 2024, including the UEFA European Championship and the Summer Olympics, to drive revenue growth in the sports lottery market [36]. - The company is positioned to capitalize on the rapid growth of the sports industry in China, with a target of reaching a market size of RMB 5 trillion by 2024 [14]. - The company plans to focus on its core business of digital sports entertainment, utilizing a precise market positioning strategy combining sports lottery new retail and "Crazy Red Single" offerings [14]. Sustainability and Environmental Impact - In 2023, the total greenhouse gas emissions amounted to 139.26 tons of CO2 equivalent, with direct emissions at 3.46 tons, indirect emissions at 87.65 tons, and other indirect emissions at 48.15 tons [105]. - The company generated 12,125 kg of non-hazardous waste from daily office operations, equating to 24.7 kg per million HKD in revenue [108]. - The total electricity consumption for 2023 was 91,725 kWh, representing 187.1 kWh per million HKD in revenue [111]. - Water usage in 2023 was recorded at 26,905 cubic meters, which translates to 54.9 cubic meters per million HKD in revenue [111]. - The company has implemented energy-saving measures, including the use of LED lighting and regular checks on electrical appliances to reduce energy consumption [112]. - The company has adopted a paperless office approach, encouraging the use of electronic documents to minimize paper usage [116]. - The company has initiated a waste classification and recycling program to manage solid waste effectively [107]. - The company emphasizes the importance of water conservation and has implemented measures to reduce water usage in daily operations [115]. - The company achieved its 2023 sustainability goals, maintaining greenhouse gas emissions density and waste production density at 2022 levels [120]. Corporate Governance and Management - The company is committed to high standards of corporate governance, ensuring compliance with ethical standards to maximize long-term shareholder value [175]. - The company has adhered to all provisions of the corporate governance code during the fiscal year ending December 31, 2023 [176]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business, financial, technical, management, and leadership experience [180]. - Continuous professional development is encouraged, with all directors participating in training or seminars during 2023 to enhance their knowledge and skills [192]. - The company ensures ongoing communication with shareholders and key stakeholders to align with its purpose and values [183]. Employee Development and Training - The group employs a total of 97 employees as of December 31, 2023 [75]. - A total of 4,612 training hours were provided to employees in 2023, averaging 47.5 hours per employee [134]. - The company has established a comprehensive talent management system to attract and retain skilled employees, ensuring equal opportunities regardless of gender, race, or other factors [122]. - The company has developed a talent cultivation plan in collaboration with educational institutions to ensure a steady supply of skilled personnel for its ongoing development [133]. Compliance and Risk Management - The group faces regulatory risks primarily due to its core business being based on China's internet infrastructure [74]. - The group has taken measures to comply with new laws and regulations to mitigate risks related to product liability [74]. - The company has implemented a comprehensive user data protection strategy, including strict access controls and encryption measures to safeguard user information [148]. - The company has established a "Responsible Lottery" framework to promote responsible gambling practices and ensure compliance with regulatory standards [144]. - The group emphasizes integrity in operations and adheres to anti-corruption laws in China and Hong Kong [155].

Financial Performance - The group recorded a loss attributable to owners of the company of HKD (23,222) thousand for the year ended December 31, 2023, compared to a profit of HKD 17,758 thousand in 2022[9]. - The company reported a total revenue of HKD 490,184,000 for 2023, a decrease of 30.3% from HKD 703,455,000 in 2022[50]. - The gross profit for 2023 was approximately HKD 179.4 million, down 28.9% from 2022, with a slight increase in gross margin from 35.9% in 2022 to 36.6% in 2023[188]. - The company’s basic and diluted loss per share for 2023 was HKD (0.51), compared to a profit of HKD 0.39 in 2022[56]. - The group recorded a loss of HKD 23.3 million in 2023 compared to a profit of HKD 17.7 million in 2022, primarily due to a significant decrease in other income and total revenue[195]. Cash Flow and Liquidity - Net cash used in operating activities was HKD (987) thousand for the year ended December 31, 2023, a significant improvement from HKD (4,438) thousand in 2022[2]. - The group reported a net cash outflow from financing activities of HKD (17,260) thousand in 2023, compared to a cash inflow of HKD 19,293 thousand in 2022[2]. - The total cash and cash equivalents decreased to HKD 60,589 thousand at the end of 2023 from HKD 77,905 thousand at the beginning of the year[2]. - The group’s net current liabilities improved to HKD (21,740) thousand in 2023 from HKD (36,097) thousand in 2022[11]. - The capital-to-debt ratio as of December 31, 2023, was approximately 2.6%, down from 4.2% in 2022[180]. Revenue Streams - The digital sports entertainment segment generated revenue of HKD 227,617,000 from the sports knowledge paid platform, up 12.2% from HKD 202,817,000 in 2022[50]. - The total revenue from sports and leisure games in 2023 was HKD 226.6 million, a decrease of 37.0% from 2022, attributed to the lack of major sports events and industry instability[118]. - The sports knowledge paid business generated revenue of HKD 227.6 million in 2023, representing a year-on-year growth of 12.2%[136]. - The new retail lottery business achieved profitability across all regions in 2023, with a significant increase in sales from instant lottery tickets, reaching RMB 119.02 billion, a 100.2% increase year-on-year[142]. Impairment and Asset Valuation - The group recognized an impairment loss of HKD 176.9 million for its equity in Asia Bank as of December 31, 2023, compared to HKD 171.9 million in 2022, due to a decrease in estimated fair value[1]. - The fair value loss on financial assets measured at fair value through profit or loss was HKD (1,618) thousand in 2023, compared to HKD (1,238) thousand in 2022[27]. - The company’s net assets attributable to shareholders (excluding goodwill) decreased to HKD 3,147,000 in 2023 from HKD 12,810,000 in 2022[57]. - The total assets decreased to HKD 1,076,999 thousand in 2023 from HKD 1,199,626 thousand in 2022[11]. Strategic Initiatives and Future Outlook - The company plans to leverage AI technology to enhance market performance and focus on the core business of sports lottery new retail and Crazy Red Ticket[91]. - The company expects strong growth trends in 2024, positioning itself as a significant force in the industry[91]. - The upcoming 2024 Paris Olympics and European Championship are expected to significantly boost the company's revenue, profit, and traffic, as historical data shows increases during major competition years[106]. - The company is actively exploring new market opportunities in the lottery new retail business, including live streaming and new retail channels[117]. Operational Efficiency - Sales and marketing expenses decreased by 23.7% to HKD 146.1 million in 2023, down from HKD 191.5 million in 2022, due to reduced resource allocation for major updates and new game launches[161]. - Administrative expenses were reduced by 21.6% to HKD 45.9 million in 2023, compared to HKD 58.6 million in 2022, as a result of cost reallocation and restructuring measures[162]. - The company is focusing on optimizing its game publishing strategy to maintain business return rates amid declining consumer spending[120]. User Engagement and Market Presence - The number of registered users reached 87 million by December 31, 2023, representing a growth of 22.8% compared to the end of 2022[184]. - The sports knowledge platform, Crazy Red Single APP, has established a user base exceeding 200 million, positioning it as a leading platform in China's football lottery information sector[111]. - The company is expanding its offline retail presence, covering over 20 provinces and cities in China, to enhance brand influence and attract younger consumers[141].

Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 272,890,000, compared to HKD 286,483,000 for the same period in 2022, representing a decrease of approximately 4%[144]. - Gross profit for the first half of 2023 was HKD 94,292,000, down from HKD 129,886,000 in the first half of 2022, indicating a decline of about 27%[144]. - The company reported a loss of HKD 9,499,000 for the six months ended June 30, 2023, compared to a profit of HKD 49,202,000 in the same period of 2022[145]. - Basic and diluted loss per share for the first half of 2023 was HKD 0.21, compared to earnings of HKD 1.09 per share in the first half of 2022[145]. - The group recorded a loss of HKD 9.5 million for the period, a significant decrease from a profit of HKD 49.2 million in the same period of 2022[54]. Revenue Generation - The sports knowledge subscription platform generated revenue of HKD 114.7 million, an increase of 18.6% compared to the same period in 2022[29]. - The revenue from major client marketing increased by 21.0% compared to the same period in 2022[38]. - The sports social interaction platform's revenue decreased by 46.6% to HKD 16.6 million, as it is undergoing a product restructuring phase[30]. User Engagement and Retention - The company achieved a 37.5% increase in the retention rate of new users in the month following their registration on the Crazy Red Single app, with a core user retention rate of 53.6% in the first half of the year[14]. - The company reported a significant increase in user engagement, with approximately 15.35 million views and 3.61 million live viewers on the Kuaishou platform in the first half of the year[33]. Investment and Financial Position - The investment portfolio of the group was HKD 277.5 million as of June 30, 2023, compared to HKD 270.6 million on December 31, 2022[49]. - The investment in private equity funds amounted to HKD 275.4 million as of June 30, 2023, compared to HKD 267.7 million on December 31, 2022, representing 24.6% of total assets[55]. - The fair value of the investment in CPC Fund was HKD 159.9 million as of June 30, 2023, up from HKD 155.4 million on December 31, 2022, with a fair value gain of HKD 4.5 million recognized as other comprehensive income[51]. - The group generated a net cash outflow of HKD 23.0 million from operating activities for the six months ended June 30, 2023, compared to HKD 29.8 million for the same period in 2022[59]. - The cash and cash equivalents decreased to HKD 70.3 million as of June 30, 2023, from HKD 80.4 million at the end of 2022[59]. Corporate Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code during the six months ending June 30, 2023[110]. - The company continues to monitor and review its corporate governance practices to ensure compliance[139]. - The company has adopted a standard code of conduct applicable to all relevant personnel, ensuring compliance during the reporting period[200]. Strategic Initiatives - The company is leveraging advanced technologies such as Web 3.0, blockchain, and AIGC to enhance product innovation and user service levels in the digital sports sector[14]. - The company has actively promoted its sports knowledge subscription platform to new customers, capitalizing on the market trends following the World Cup and the pandemic[29]. - The company has introduced a metaverse game and digital collectibles platform, aligning with national policies on sports and copyright innovation[35]. - The group is actively seeking new market opportunities while ensuring the steady development of existing lottery retail business[43]. - The group aims to enhance its brand influence and reach more users through multi-platform operations and product upgrades[39]. Employee and Operational Insights - As of June 30, 2023, the group employed a total of 88 employees[186]. - Administrative expenses decreased by 43.1% to HKD 21.8 million from HKD 38.4 million in the same period of 2022, due to cost reallocation and restructuring measures[188]. - The company has provided regular training for directors and employees to enhance their skills and knowledge[111].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CRAZY SPORTS GROUP LIMITED 瘋 狂 體 育 集 團 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：82） 截至 年 月 日止六個月中期業績 2023 6 30 瘋狂體育集團有限公司董事會欣然公佈本集團截至2023年6月30日止六個月之未 經審核簡明綜合中期業績。該等中期業績乃根據香港會計準則第34號「中期財務報 告」編製並經審核委員會審閱。 於本公佈中，「我們」指本集團。 年中期業績回顧及展望 2023 2023年上半年全球經濟形勢依然復蘇嚴峻，國內經濟呈現出經濟恢復偏慢的運行態 勢，面臨眾多壓力和挑戰。在此環境下，我們致力於保持產品競爭力及用戶留存， ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示不會就本公佈全部或任何部分 內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CRAZY SPORTS GROUP LIMITED 瘋 狂 體 育 集 團 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：82） 年全年業績公佈及 2022 建議採納新組織章程大網及 細則 董事會欣然公佈本集團截至2022年12月31日止年度的經審核綜合業績。該等業績 已由本集團核數師香港立信德豪會計師事務所有限公司根據香港審計準則審核，並 經審核委員會審閱。 於本公佈中，「我們」指本集團。 截至12月31日止年度 2022 2021 變動 港幣千元 港幣千元 （%） ...

Financial Performance - For the first half of 2022, Crazy Sports Group reported a revenue increase of 25.1% year-on-year, reaching HKD 286.5 million, with a profit attributable to shareholders of HKD 49.2 million[13]. - Total revenue for the first half of 2022 reached HKD 286.5 million, a 25.1% increase compared to HKD 229.0 million in the same period of 2021[54]. - The gross profit for the first half of 2022 was HKD 129.9 million, compared to HKD 103.7 million in the same period of 2021[54]. - The group recorded a profit of HKD 49.2 million for the period, down from HKD 62.0 million in the previous year, attributed to increased marketing expenses[70]. - The net profit for the period was HKD 49,202 thousand, down from HKD 61,967 thousand in the previous year, reflecting a decline of 20.7%[143]. - Basic earnings per share decreased to HKD 1.09 from HKD 1.37, indicating a decline of 20.4% year-over-year[143]. - The company’s total comprehensive income for the period was HKD (105,371) thousand, a significant decrease from HKD 159,087 thousand in the previous year[143]. User Growth and Engagement - The total user base grew by 48.8% year-on-year to 57.9 million, with monthly active users reaching 3.37 million, an increase of 28.6%[13]. - The number of large customer users has grown by 500% due to tailored service offerings, enhancing user retention and engagement[24]. - Crazy Red Single aims to capitalize on the World Cup opportunity, having already initiated strategic preparations for product upgrades and user promotions[26]. - The Dream Sports APP successfully attracted a large number of users during the 2022 Beijing Winter Olympics, enhancing user engagement through interactive guessing games[30]. Business Expansion and Strategy - The company is expanding its digital sports entertainment business, focusing on the trillion-dollar market in China, and has established a comprehensive online and offline sports community ecosystem[13]. - Crazy Sports Group launched China's first sports metaverse game "Crazy Soccer" and a digital collectibles platform "Qian Kun Digital Collection" in early 2022[13]. - The company is diversifying its business to enhance operational efficiency and optimize cost-effectiveness across various segments[15]. - Crazy Sports Group is developing original IP with traditional Chinese cultural characteristics, launching a new mythological-themed card game "Tai Chu Xing" to cater to the preferences of younger audiences[15]. - The company aims to create a synergistic development platform combining content, ecology, and technology to attract the "Z generation" audience[13]. Revenue Streams - The revenue of the sports knowledge payment platform, Crazy Red Single APP, increased by 42.0% year-on-year to HKD 96.7 million in 2022[20]. - The revenue from the sports social interaction platform, Crazy Sports APP, decreased by 5.6% year-on-year to HKD 31.1 million[28]. - The sports lottery retail service revenue grew by 26.7% year-on-year to HKD 6.4 million, despite challenges from the pandemic[33]. - The sports and leisure gaming business revenue increased by 7.6% year-on-year to HKD 132.3 million, driven by multiple game updates and new releases[37]. - The newly launched digital collectibles platform, QianKun Digital Collection, generated revenue of HKD 20.0 million within three months of operation, significantly contributing to revenue growth[57]. Cost Control and Financial Management - Administrative expenses as a percentage of sales decreased by 4.75 percentage points year-on-year to 13.4% as of June 30, 2022, indicating improved cost control[15]. - The company has implemented cost control measures on underperforming products while reallocating resources to higher revenue-generating businesses[56]. - Sales and marketing expenses increased by 93.1% to HKD 81.9 million, mainly due to the launch of the digital collectibles platform and marketing costs for the 2022 World Cup strategy[65]. Investments and Financial Position - As of June 30, 2022, the group's investment portfolio was valued at HKD 340.8 million, down from HKD 406.6 million at the end of 2021[71]. - The group invested HKD 336.7 million in private equity funds, accounting for 27.1% of total assets[73]. - The company holds a 45.49% stake in Asia Bank, which aims to provide online digital banking services[77]. - Asia Bank recorded a loss of HKD 52 million for the period, compared to a loss of HKD 46 million in the same period of 2021[77]. - The company’s liabilities included current liabilities of HKD 286,853 thousand, slightly down from HKD 297,682 thousand in the previous year[147]. Market Opportunities - The company is leveraging the upcoming Qatar World Cup to enhance user engagement and drive sales, with a focus on creating World Cup-specific products and activities[17]. - Crazy Red Single is collaborating with over 40 existing partners to create a content matrix for the World Cup, enhancing its market presence[26]. - The company plans to release multiple football games in conjunction with the 2022 FIFA World Cup, covering various game genres and themes[45]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes as per the listing rules during the reporting period[125]. - The establishment of the executive committee was approved on July 5, 2022, to enhance daily operations management[127].

Company Performance - In 2021, the company achieved a revenue of HKD 511.2 million and a gross profit of HKD 229.2 million, representing year-on-year growth of 70.0% and 75.3% respectively[31]. - The company's total revenue for 2021 was HKD 511.2 million, representing a 70.0% increase compared to HKD 300.8 million in 2020[74]. - The gross profit for 2021 was HKD 229.2 million, up 75.3% from HKD 130.7 million in 2020, with a gross margin of 44.8%[81]. - The revenue of Crazy Sports APP increased by 89.8% year-on-year to HKD 85.4 million, significantly enhancing user conversion and monetization across business lines[37]. - The sports lottery retail service revenue increased by 1160% year-on-year, with over 7,000 retail outlets established across 17 provinces and cities in China[50]. - The online sports knowledge payment platform, Crazy Red Single APP, recorded a revenue of HKD 131.3 million, with an annual growth rate exceeding 140%[32]. - The sports and leisure gaming business revenue grew by 32.0% year-on-year to HKD 263.6 million, supported by the successful launch of multiple new games[43]. User Engagement and Growth - The total user base increased by 50% year-on-year to 48.06 million, with monthly active users growing by 134% to 2.56 million[31]. - The number of downloads for Crazy Sports APP in 2021 was 300% higher than the same period last year, driven by the excitement surrounding the European Cup[39]. - The user base for Crazy Sports expanded significantly, covering nearly 70% of Chinese sports users through partnerships with over 40 platforms[36]. - The European Cup and Tokyo Olympics activities attracted nearly one million users to participate in themed betting games on the Dream Match APP[40]. Technological Innovation - The company is focusing on technological innovation, increasing investment in R&D to enhance user experience and product offerings[34]. - The integration of technologies such as AI, big data, and cloud computing is key to the company's rapid business growth and competitive advantage[34]. - The introduction of exclusive football index analysis and basketball big data services aims to optimize event interpretation and pre-match analysis[34]. - The company aims to lead the digital transformation of the sports industry, positioning itself as the first digital sports entertainment stock in Hong Kong[28]. Strategic Partnerships and Events - The company plans to leverage upcoming major sports events in 2022, such as the Beijing Winter Olympics and the Qatar World Cup, to significantly boost revenue and user engagement[28]. - Crazy Sports signed contracts for numerous sports events, including the International Professional Boxing Union and the Chinese Men's Handball Super League, enhancing its live broadcast and interactive entertainment offerings[41]. - The company aims to capitalize on major sporting events in 2022, including the Asian Games and the FIFA World Cup, to boost user acquisition and revenue growth[59]. Sustainability and Corporate Responsibility - The group emphasizes the importance of responsible procurement and supplier management as part of its sustainability strategy[145]. - The company is committed to protecting customer data and privacy, as well as preventing bribery, fraud, and money laundering[145]. - The company has established an Environmental, Social, and Governance (ESG) Committee in November 2021 to oversee sustainability strategies and performance reporting to the board[146]. - The company has engaged independent sustainability consultants to enhance data collection and provide recommendations for future sustainability efforts[146]. - The company emphasizes fair employment practices, ensuring equal opportunities regardless of gender, race, or other factors[175]. Financial Investments - The group invested a total of HKD 402.5 million in private equity funds, representing 29.6% of total assets[64]. - The group reported a dividend income of HKD 10.0 million from the New Rock Capital Fund in 2021, compared to zero in 2020[66]. - The group received dividend income of HKD 16.7 million from the CPC Fund in 2021, down from HKD 26.5 million in 2020[64]. - The group plans to launch new football games and esports leagues in conjunction with the World Cup strategy[60]. Employee Development and Training - The group regularly provides training for directors and employees to enhance their skills and knowledge[115]. - In 2021, the company provided a total of 8,355 training hours for 115 employees, averaging 72.7 hours per employee[184]. - The training hours breakdown shows that senior management received an average of 10.8 hours, middle management 25.0 hours, and general staff 94.8 hours[186]. - The company implemented a comprehensive training program for new employees, ensuring they understand the corporate culture and operational processes[183]. Regulatory Compliance and Risk Management - The company has implemented controls to comply with new laws and regulations to mitigate regulatory risks associated with its core business in China's internet infrastructure[113]. - The company has established a product self-inspection task force to ensure compliance with regulations regarding online gaming, particularly for underage users[192]. - The company strictly prohibits the sale of lottery tickets to individuals under 18 years old, with clear signage placed in retail locations[196]. - The company has not violated any laws regarding child labor or forced labor in 2021[188].