Financial Performance - The company recorded total revenue of approximately RMB 4.569 billion for the fiscal year 2024, representing an increase of about 15.8% compared to the same period in 2023[9]. - The adjusted net profit for the fiscal year 2024 was approximately RMB 8.863 billion, a significant increase of about 645.2% year-on-year, primarily due to the appreciation of cryptocurrency assets and increased revenue[9]. - For the fiscal year ending December 31, 2024, the company reported revenue of approximately RMB 456.9 million, a year-on-year increase of about 15.8% compared to RMB 394.6 million in 2023[18]. - The company achieved a net profit of approximately RMB 886.3 million for the fiscal year 2024, representing a significant year-on-year increase of about 645.2% from RMB 117.2 million in 2023[19]. - The company's gross profit increased by approximately 22.4% from RMB 271.3 million for the year ending December 31, 2023, to approximately RMB 332.1 million for the year ending December 31, 2024, primarily due to higher digital asset appreciation income[33]. - The gross margin for the year ending December 31, 2024, is approximately 72.7%, compared to 68.8% for the year ending December 31, 2023[33]. - The company's adjusted net profit for Q4 2024 was approximately RMB 670.0 million, a year-on-year increase of about 2,002.6% compared to Q4 2023[19]. - The company recorded a revenue of approximately RMB 138.7 million in Q4 2024, a year-on-year increase of about 38.3% compared to Q4 2023[18]. Digital Assets and Cryptocurrency - The company held approximately 3,351 Bitcoins with an average cost of about $58,628 per Bitcoin, and approximately 295 Ether with an average cost of about $1,661 per Ether as of the report date[8]. - The company achieved a fair value gain of approximately RMB 860 million from digital assets during the fiscal year 2024[9]. - The company aims to expand its Bitcoin reserves and remains optimistic about the long-term value of Bitcoin, considering financing options such as share placements and bond issuance[13]. - The company plans to continue expanding its Bitcoin reserves, reflecting a long-term optimistic view on the cryptocurrency market[17]. - The company received shareholder approval for an additional USD 100 million cryptocurrency purchase authorization, totaling USD 200 million[23]. - As of December 31, 2024, the company held approximately 3,274 Bitcoins at an average cost of USD 57,930 per coin and 298 Ether at an average cost of USD 1,676 per coin[23]. - The fair value of digital assets as of December 31, 2024, is approximately RMB 2,360 million, a significant increase from RMB 78.6 million as of December 31, 2023[60]. - The company recorded a fair value gain of approximately RMB 864.7 million for digital assets in the fiscal year ending December 31, 2024, compared to a gain of RMB 0.9 million in the previous year[60]. Business Strategy and Operations - The company plans to continue its focus on the traditional online gaming business while increasing efforts in the development and investment of Web3 gaming products and related infrastructure[11]. - The company is actively investing and incubating projects in the Web3 sector, aiming to innovate and create industry-leading Web3 gaming products[17]. - The company emphasizes compliance with legal regulations in different jurisdictions while striving to build a leading Web3 gaming company[13]. - The company will continue to enhance user experience and explore operational models for Web3 gaming products, focusing on high-quality game product incubation[11]. - The company is committed to developing and operating online card games and advancing Web3 gaming, aiming to position itself as a leading Web3 listed company[101]. - The company is focused on expanding its game distribution platform and increasing penetration in existing markets while exploring new domestic and international markets[101]. User Engagement and Market Performance - The company maintained a stable number of paying players at approximately 0.20 million in Q4 2024, while daily active users increased by 2.8% to about 1.20 million[20]. - The number of paying players decreased to 201,000 in December 2024 from 206,000 in December 2023, representing a decline of 2.4%[89]. - Daily active users increased to 1,201,000 in December 2024, up 6.3% from 1,130,000 in December 2023[89]. - Monthly active users rose to 4,151,000 in December 2024, reflecting a growth of 5.4% compared to 3,940,000 in December 2023[89]. - The company reported significant year-on-year growth in online gaming revenue in the Middle East region[21]. Expenses and Financial Management - Sales and marketing expenses decreased by approximately 15.9% from RMB 48.3 million for the year ending December 31, 2023, to approximately RMB 40.6 million for the year ending December 31, 2024, representing a reduction in the expense ratio from 12.2% to 8.9%[34]. - Administrative expenses increased by approximately 5.8% from RMB 98.9 million for the year ending December 31, 2023, to approximately RMB 104.6 million for the year ending December 31, 2024, mainly due to increased fees related to digital asset purchases and share-based compensation[35]. - The income tax expense for the year ending December 31, 2024, was approximately RMB 159.7 million, a significant increase from RMB 9.8 million for the year ending December 31, 2023, mainly due to the substantial increase in the fair value of digital assets[39]. Shareholder Returns and Dividends - The board proposed a final dividend of approximately HKD 75,596,000, equating to about HKD 0.1064 per ordinary share, which includes 20% of the operating net profit and 5% of the fair value increase of digital assets[10]. - The board proposed a final dividend of HKD 0.1064 per ordinary share for the year ending December 31, 2024, which is an increase from HKD 0.0372 per share for the previous year[112]. - The final dividend for 2024 represents 20% of the group's operating profit, along with 5% of the fair value increase of digital assets and 5% of capital gains[112]. - The revised dividend policy states that the company will pay dividends of no less than 20% of operating profit annually over the next four years[113]. Compliance and Risk Management - The company emphasizes compliance with legal regulations in different jurisdictions while striving to build a leading Web3 gaming company[13]. - The company has established a dedicated virtual asset management and risk control department to oversee cryptocurrency trading and management policies[100]. - The company has complied with all relevant Chinese laws and regulations, obtaining all necessary licenses and approvals for its operations in China[102]. - The company is closely monitoring the evolving regulatory environment in China and has engaged external legal advisors to ensure compliance with contractual arrangements[101]. - The interpretation of laws and regulations related to contractual arrangements in China remains uncertain, which could lead to significant compliance costs for the company[96]. Employee and Management Structure - As of December 31, 2024, the group has a total of 222 employees, with 174 in game development and operations, 36 in game support, and 12 in administrative and senior management roles[106]. - The company’s executive director, Mr. Dai Zhikang, has extensive experience in blockchain and Web3 technology, contributing to strategic planning and management[80]. - Ms. Tao Ying, an executive director, has over 13 years of management experience and has been with the company for more than 11 years[81]. - Independent non-executive director Mr. Zhang Yilin has served on various boards and has a strong background in finance and accounting[82]. - Mr. Cai Hanqiang, another independent non-executive director, is a recognized expert in blockchain law and has provided legal advice for over 30 blockchain financing projects[83]. Shareholder Structure and Governance - The company had issued 710,183,730 shares as of December 31, 2024[185]. - Major shareholders include Mr. Zhang with 255,628,474 shares (35.99%) and Cantrust (Far East) Limited with 282,737,474 shares (39.81%) in trust[181]. - The company has no significant transactions or contracts with its controlling shareholders or related entities during the reporting period[178]. - The company’s board includes Mr. Dai as Chairman and Executive Director, and Ms. Tao as Executive Director and Acting CEO[176].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 456.9 million, an increase of about 15.8% compared to RMB 394.6 million in 2023[5] - The gross profit for the fiscal year ending December 31, 2024, was approximately RMB 332.1 million, representing a 22.4% increase from RMB 271.3 million in 2023[5] - The profit attributable to the company's owners for the fiscal year ending December 31, 2024, was approximately RMB 883.8 million, a significant increase of about 654.2% from RMB 117.2 million in 2023[5] - The adjusted net profit, excluding share-based compensation expenses, for the fiscal year ending December 31, 2024, was approximately RMB 886.3 million, up 645.2% from RMB 118.9 million in 2023[5] - The basic earnings per share for the fiscal year was RMB 133.10, reflecting a 650.3% increase from RMB 17.74 in 2023[6] - The company reported a profit before tax of RMB 1,043,521 million, a substantial increase from RMB 126,950 million year-over-year[106] - The company's annual profit for 2024 was RMB 883,779,000, a significant increase from RMB 117,179,000 in 2023[138] Dividends and Shareholder Returns - The board proposed a final dividend of approximately HKD 75,596,000, equating to about HKD 0.1064 per ordinary share, which is 20% of the operating profit for the fiscal year[5] - The company revised its dividend policy to distribute at least 20% of operating profit as dividends annually over the next four years, excluding gains from digital assets[5] - The proposed final dividend for the year ending December 31, 2024, is HKD 0.1064 per share, an increase from HKD 0.0372 per share for the year ending December 31, 2023[179] Digital Assets and Cryptocurrency - The unrealized fair value gain from digital assets was RMB 864.7 million for the fiscal year, a substantial increase from RMB 911 thousand in 2023[6] - The company reported a Bitcoin growth rate of 65,324% for the fiscal year, indicating significant performance in digital asset investments[6] - The company is actively expanding its Bitcoin reserves, viewing Bitcoin as having long-term value[13] - The company plans to innovate and develop industry-leading Web3 gaming products by integrating existing internet games with Web3 technology[13] - The company plans to continue expanding its cryptocurrency reserves and maintain a long-term holding strategy[27] - The company anticipates that the quantity of cryptocurrencies purchased will continue to increase, contributing to ongoing digital asset appreciation revenue[31] - The fair value gain from digital assets was approximately RMB 860 million, with an additional RMB 50 million in appreciation gains for the fiscal year ending December 31, 2024[22] User Engagement and Market Performance - Daily active users reached 1,201 thousand, an increase of 6.3% year-on-year[11] - Monthly active users totaled 4,151 thousand, marking a year-on-year increase of 5.4%[11] - The company significantly increased its online gaming revenue in the Middle East, indicating successful market expansion efforts[19] - The number of daily active users increased by 2.8% from approximately 1.17 million in Q3 2024 to about 1.20 million in Q4 2024[17] - Monthly active users decreased by 7.9% from approximately 4.5 million in Q3 2024 to about 4.2 million in Q4 2024, primarily due to a decline in active users on the mobile Texas Hold'em platform[18] Operational Efficiency and Expenses - Administrative expenses for the year ended December 31, 2024, were approximately RMB 104.6 million, an increase of about 5.8% from RMB 98.9 million in 2023[36] - Sales and marketing expenses decreased by approximately 15.9% to about RMB 40.6 million for the year ended December 31, 2024, representing 8.9% of revenue compared to 12.2% in 2023[34] - Total employee costs for the year ended December 31, 2024, amounted to approximately RMB 807 million, representing about 29.9% of the total expenses[93] - Research and development expenses totaled RMB 57,888,000 in 2024, slightly up from RMB 57,428,000 in 2023[136] Asset Management and Investments - As of December 31, 2024, the company held approximately 3,274 Bitcoins at an average cost of $57,930 per Bitcoin and approximately 298 Ether at an average cost of $1,676 per Ether[22] - The fair value of digital assets as of December 31, 2024, is approximately RMB 2,360.0 million, up from RMB 78.6 million on December 31, 2023[68] - The company has cumulatively invested RMB 300.0 million in Jiaxing Boya, holding a 99.0% stake, but the fair value of this investment is approximately zero as of December 31, 2024[81] - The company has no short-term or long-term bank borrowings and no outstanding bank financing as of December 31, 2024[84] Corporate Governance and Compliance - The board has reviewed and complied with all applicable code provisions of the Corporate Governance Code during the year ending December 31, 2024[184] - The company established a dedicated management and risk control department for virtual assets to oversee cryptocurrency transactions and compliance with regulations[71]

Group 1 - The core viewpoint is that Boyaa Interactive's stock price has increased over 150% in the month, with a 11.67% rise today [1] - The company's Q3 performance shows a revenue increase of 8.1% year-on-year and a net profit increase of 149.4%, primarily due to gains from cryptocurrency appreciation and increased revenue from online games [1] Group 2 - The company holds a significant amount of Bitcoin and Ethereum, with plans to hold long-term and expand its reserves [2]

证券时报网讯，博雅互动(00434.HK)在2024年前三季度实现收益约3.18亿元人民币，同比增长8.1%，纯 利达2.12亿元人民币，同比增长149.4%。 增长主要得益于数字资产增值收益和网络游戏收益增加。 尽管付费玩家数略有下降，但用户数和活跃用户数均有所增加。 公司成功举办BPT品牌赛事，提升了品牌影响力，并计划加大Web3游戏产品的研发力度，探索运营模 式，拓展海外市场，推动Web3领域业务发展。 集团还将扩大比特币储备，长期持有并增加比特币数量，以实现Web3领域业务发展的战略规划。 校对：冉燕青 ...

Revenue Performance - Total revenue for the nine months ended September 30, 2024, was RMB 318.193 million, an 8.1% increase year-over-year[4] - Net game revenue for the nine months ended September 30, 2024, was RMB 305.456 million, a 3.8% increase year-over-year[4] - Mobile game revenue for the nine months ended September 30, 2024, was RMB 216.303 million, a 5.6% increase year-over-year[4] - Revenue from "Texas Hold'em" for the nine months ended September 30, 2024, was RMB 197.915 million, a 6.2% increase year-over-year[6] - Revenue from other language versions (excluding Simplified Chinese) for the nine months ended September 30, 2024, was RMB 292.613 million, a 4.4% increase year-over-year[6] - Total revenue for the three months ended September 30, 2024, was RMB 104.826 million, a 4.8% increase year-over-year[4] - Mobile game revenue for the three months ended September 30, 2024, was RMB 72.350 million, a 3.9% increase year-over-year[4] - Revenue from "Texas Hold'em" for the three months ended September 30, 2024, was RMB 66.727 million, a 5.0% increase year-over-year[6] - Revenue from other language versions (excluding Simplified Chinese) for the three months ended September 30, 2024, was RMB 96.062 million, a 0.2% increase year-over-year[6] - Total revenue for the nine months ended September 30, 2024, was approximately RMB 318.2 million, an increase of 8.1% year-over-year, driven by digital asset appreciation and increased online gaming revenue[10] - Q3 2024 revenue was approximately RMB 104.8 million, up 4.8% year-over-year, primarily due to digital asset appreciation[10] - Revenue for the three months ended September 30, 2024, was approximately RMB 104.8 million, a 4.8% increase compared to RMB 100.0 million in the same period last year, driven by digital asset appreciation gains[17] - Revenue breakdown for the three months ended September 30, 2024: mobile games (69.0%), web games (26.6%), and digital asset appreciation (4.4%)[17] - Revenue for the nine months ended September 30, 2024, was RMB 318.2 million, an increase from RMB 294.3 million in the same period in 2023[57] - Total revenue for the nine months ended September 30, 2024, was RMB 318,193 thousand, compared to RMB 294,320 thousand in the same period last year[87] - Revenue from games in Simplified Chinese for the three months ending September 30, 2024, was RMB 4,218 thousand, a slight increase from RMB 4,155 thousand in the same period in 2023[96] - Revenue from games in other languages for the three months ending September 30, 2024, was RMB 96,062 thousand, slightly up from RMB 95,880 thousand in the same period in 2023[96] - Total revenue for the three months ending September 30, 2024, was RMB 100,280 thousand, compared to RMB 100,035 thousand in the same period in 2023[96] - The company's revenue for the nine months ended September 30, 2024, was RMB 318,193 thousand, an 8.1% increase year-over-year[158] Digital Assets and Cryptocurrency - Bitcoin growth rate as of September 30, 2024, compared to December 31, 2023, was 52,600.0%[4] - The company plans to increase its Bitcoin reserves as part of its strategic development in the Web3 sector, potentially raising funds through secondary market offerings[14] - The company has been authorized to purchase up to $200 million in cryptocurrencies, which are stored in licensed platform accounts and cryptocurrency wallets, generating interest and rewards[18] - The company expects to continue increasing its cryptocurrency holdings and generating digital asset appreciation income as it develops and operates Web3 games[19] - Bitcoin growth rate for the three months ended September 30, 2024 was 26.7%, and for the nine months ended September 30, 2024, it was 52,600.0%[36] - Total Bitcoin holdings as of September 30, 2024 were 2,635, with an average cost of approximately $54,022 per Bitcoin[41] - Fair value of digital assets as of September 30, 2024 was approximately RMB 1,569.0 million, compared to RMB 78.6 million as of December 31, 2023[41] - The company holds approximately 2,688 Bitcoins as of the announcement date, with an average cost of approximately $54,385 per Bitcoin[41] - The company holds approximately 14,447 Ether as of the announcement date, with an average cost of approximately $2,755 per Ether[41] - The company's Bitcoin holdings increased from 5 as of December 31, 2023, to 2,635 as of September 30, 2024[37] - The company's digital assets fair value gain for the nine months ended September 30, 2024 was approximately RMB 98.1 million[41] - Investment in digital assets amounted to RMB 1,451,191 thousand during the nine months ended September 30, 2024[67] - Web3-related business generated RMB 12,737 thousand in revenue from digital asset appreciation for the nine months ended September 30, 2024[88] - Investment in digital assets: RMB 1,568,981,000 as of September 30, 2024 (2023: RMB 78,598,000)[133] Profit and Loss - Non-IFRS adjusted net profit for the nine months ended September 30, 2024, was approximately RMB 216.4 million, a 148.5% increase year-over-year, mainly due to digital asset fair value gains and increased revenue[11] - Q3 2024 non-IFRS adjusted net loss was approximately RMB 71.9 million, compared to a net profit of RMB 30.1 million in Q3 2023, due to reduced digital asset fair value gains[11] - Gross profit for the three months ended September 30, 2024, was approximately RMB 74.0 million, a 7.7% increase compared to RMB 68.7 million in the same period last year, with a gross margin of 70.6%[22] - Other losses net for the three months ended September 30, 2024, were approximately RMB 143.3 million, a significant increase compared to RMB 13.8 million in the same period last year, primarily due to a decrease in the fair value of digital assets[26] - The company's loss attributable to owners for the three months ended September 30, 2024, was approximately RMB 72.1 million, compared to a profit of RMB 29.6 million in the same period last year, mainly due to changes in the fair value of digital assets[31] - Adjusted loss for the three months ended September 30, 2024 was approximately RMB 71.9 million, compared to an adjusted profit of RMB 30.1 million for the same period in 2023[33] - Gross profit for the nine months ended September 30, 2024, was RMB 225.7 million, up from RMB 198.4 million in the same period in 2023[57] - Operating profit for the nine months ended September 30, 2024, was RMB 219.7 million, compared to RMB 58.2 million in the same period in 2023[57] - Net profit attributable to the company's owners for the nine months ended September 30, 2024, was RMB 212.3 million, up from RMB 85.1 million in the same period in 2023[57] - Segment profit for mobile games was RMB 136,540 thousand, while Web3-related business contributed RMB 110,819 thousand in segment profit for the nine months ended September 30, 2024[77] - Pre-tax profit for the nine months ended September 30, 2024, was RMB 233,318 thousand, a significant increase from RMB 97,777 thousand in the same period last year[77] - Gross profit for the nine months ended September 30, 2024, was RMB 255,694 thousand, a 13.7% increase year-over-year[158] - Operating profit for the nine months ended September 30, 2024, was RMB 219,698 thousand, a 277.4% increase year-over-year[158] - Net profit for the nine months ended September 30, 2024, was RMB 212,325 thousand, a 149.4% increase year-over-year[158] - Non-IFRS adjusted net profit for the nine months ended September 30, 2024, was RMB 216,354 thousand, a 148.5% increase year-over-year[158] User Metrics and Engagement - Daily active users (DAU) increased by 4.4% quarter-over-quarter to 1.17 million in Q3 2024, while monthly active users (MAU) rose by 10.5% to 4.5 million[13] - Paying players decreased by 2.9% quarter-over-quarter to 201,000 in Q3 2024, with mobile gaming paying players down 2.5% to 199,000[13] - Mobile gaming ARPPU for "Texas Hold'em" increased by 25.3% quarter-over-quarter to RMB 226.9 in Q3 2024[13] - The company successfully hosted the BPT brand series event in Q3 2024, attracting approximately 78.6 thousand participants from multiple countries and regions[13] Financial Position and Assets - Cash and cash equivalents as of September 30, 2024 were approximately RMB 66.9 million, compared to RMB 744.3 million as of December 31, 2023[43] - The company's cash and cash equivalents are denominated in RMB (14.4%), USD (58.6%), and other currencies (27.0%)[43] - The fair value of equity investments measured at fair value through other comprehensive income was approximately RMB 10.5 million as of December 31, 2023, but decreased to approximately zero as of September 30, 2024[44] - The company sold all its shares of Xiaomi Group (HKEX: 1810) in the public market during the nine months ended September 30, 2024, with proceeds used for general working capital[44] - The fair value of investments measured at fair value through profit or loss was approximately RMB 79.4 million as of September 30, 2024, down from RMB 208.5 million as of December 31, 2023, with a fair value loss of RMB 13.1 million for the nine months ended September 30, 2024[46] - The company's capital expenditure for the nine months ended September 30, 2024, was approximately RMB 3.6 million, a decrease from RMB 10.1 million in the same period in 2023[52] - Total assets increased to RMB 2,168,469 thousand as of September 30, 2024, compared to RMB 1,928,672 thousand as of December 31, 2023[61] - Digital assets surged to RMB 1,568,981 thousand as of September 30, 2024, up from RMB 78,598 thousand as of December 31, 2023[61] - Total equity rose to RMB 1,834,272 thousand as of September 30, 2024, from RMB 1,598,789 thousand as of December 31, 2023[63] - Net cash from operating activities was RMB 206,792 thousand for the nine months ended September 30, 2024, compared to RMB 86,267 thousand for the same period in 2023[67] - Cash and cash equivalents decreased to RMB 66,905 thousand as of September 30, 2024, from RMB 744,260 thousand as of December 31, 2023[67] - Prepayments for investment properties were RMB 56,272 thousand as of September 30, 2024[61] - Total liabilities increased slightly to RMB 334,197 thousand as of September 30, 2024, from RMB 329,883 thousand as of December 31, 2023[63] - Net cash used in investing activities was RMB 845,722 thousand for the nine months ended September 30, 2024[67] - The company repurchased ordinary shares worth RMB 5,110 thousand during the nine months ended September 30, 2024[65] - Total assets for the mobile game segment as of September 30, 2024, were RMB 534,812 thousand, while Web3-related business assets stood at RMB 1,633,657 thousand[79] - Non-current assets in Mainland China increased to RMB 77,499 thousand as of September 30, 2024, from RMB 35,024 thousand as of December 31, 2023[79] - Trade receivables: RMB 25,406,000 as of September 30, 2024 (2023: RMB 29,369,000)[130] - Accounts receivable aged 0-30 days decreased to RMB 24,734 thousand as of September 30, 2024, from RMB 25,677 thousand as of December 31, 2023[134] - Accounts receivable aged 31-60 days and 61-90 days decreased to RMB 234 thousand and RMB 142 thousand respectively as of September 30, 2024, from RMB 2,975 thousand and RMB 448 thousand as of December 31, 2023[134] - Accounts receivable aged 365 days and above decreased to RMB 25,406 thousand as of September 30, 2024, from RMB 29,369 thousand as of December 31, 2023[134] - Trade payables aged 0-30 days increased to RMB 837 thousand as of September 30, 2024, from RMB 659 thousand as of December 31, 2023[134] - The company repurchased 3,445,000 shares for a total amount of RMB 5,110,000 at an average price of HKD 1.63 per share as of September 30, 2024[138] - The company's issued and fully paid ordinary shares remained at 709,576,301 as of September 30, 2024, unchanged from December 31, 2023[137] - The 2024 Share Option Plan was adopted on April 19, 2024, with a term of 10 years from the date of grant[141] - The number of outstanding share options decreased to 4,872,429 as of September 30, 2024, from 5,022,429 as of September 30, 2023[142] - The 2024 Restricted Share Unit Plan was adopted on March 28, 2024, with a term of 8 years from the date of adoption[146] - The company granted 5,650,000 restricted share units (RSUs) to employees on August 27, 2021, with a fair value of HKD 0.445 per share[147] - On April 15, 2022, the company granted 15,000,000 RSUs to employees, with a fair value of HKD 0.465 per share[148] - On June 19, 2024, the company granted 1,900,000 RSUs to employees, with a fair value of HKD 1.89 per share[150] - As of September 30, 2024, the total number of outstanding RSUs was 10,235,000, a decrease from 23,488,089 at the beginning of the year[151] - 10,848,923 RSUs were vested and converted during the period, with a weighted average share price of HKD 1.17 per share[151] Expenses and Costs - Sales and marketing expenses decreased by 26.7% to approximately RMB 10.0 million for the three months ended September 30, 2024, compared to RMB 13.6 million in the same period last year[23] - Dividend income from investments measured at fair value through profit or loss for the three months ending September 30, 2024, was RMB 4,064 thousand, a significant increase from RMB 1,006 thousand in the same period in 2023[97] - Foreign exchange loss for the three months ending September 30, 2024, was RMB 3,220 thousand, compared to a gain of RMB 303 thousand in the same period in 2023[97] - Interest income for the three months ending September 30, 2024, was RMB 1,818 thousand, a decrease from RMB 15,671 thousand in the same period in 2023[99] - Lease interest expense for the three months ending September 30, 2024, was RMB 355 thousand, up from RMB 318 thousand in the same period in 2023[100] - Current income tax expense for the three months ending September 30, 2024, was RMB 5,258 thousand, compared to RMB 2,988 thousand in the same period in 2023[101] - Deferred tax benefit for the three months ending September 30, 2024, was RMB 26,461 thousand, compared to a benefit of RMB 34 thousand in the same period in 2023[101] - The actual income tax rate for Boyaa Network Game Development (Shenzhen) Co., Ltd. for the nine months ending September 30, 2024, was 15%, consistent with the same period in 2023[103] - Hong Kong profits tax provision: The first HKD 2,000,000 of taxable profits are provisioned at 8.25%, and any amount exceeding HKD 2,000,000 is provisioned at 16.5% for the nine months ended September 30, 2024 and 2023[110] - Singapore profits tax provision: All taxable profits are provisioned at 17% for the nine months ended September 30, 2024 and 2023[111] - Depreciation included in employee costs: RMB 244,000, and included in other administrative expenses: RMB 927,000[

Revenue and Profit Performance - Revenue for the first half of 2024 was approximately RMB 213.4 million, a year-on-year increase of 9.8%, driven by online operations and cryptocurrency gains[7] - Q2 2024 revenue was approximately RMB 104.8 million, a year-on-year increase of 5.8%, primarily due to cryptocurrency gains[7] - Q2 2024 revenue decreased by 3.4% compared to Q1 2024, mainly due to cyclical promotional activities and a decline in online game revenue[7] - Unaudited non-IFRS adjusted net profit for H1 2024 was approximately RMB 288.2 million, a year-on-year increase of 405.5%, driven by revenue growth and cryptocurrency gains[8] - Q2 2024 unaudited non-IFRS adjusted net loss was approximately RMB 64.0 million, compared to a profit of RMB 27.5 million in Q2 2023, due to reduced cryptocurrency gains[8] - Excluding cryptocurrency and equity investment gains, H1 2024 unaudited non-IFRS adjusted net profit increased by 6.1% year-on-year[8] - Q2 2024 unaudited non-IFRS adjusted net profit increased by 5.2% year-on-year, excluding cryptocurrency and equity investment gains, due to revenue growth and cost control[8] - Q2 2024 unaudited non-IFRS adjusted net profit decreased by 12.0% compared to Q1 2024, excluding cryptocurrency and equity investment gains, due to reduced revenue and interest income[8] - Revenue increased by 5.8% YoY to RMB 104.8 million in Q2 2024, driven by digital asset appreciation[12] - Revenue for the six months ended June 30, 2024 increased by 9.8% year-over-year to approximately RMB 213.4 million, driven by online operations, game optimization, and digital asset appreciation[26] - Revenue for the three months ended June 30, 2024, increased to RMB 104,845 thousand, up 5.8% from RMB 99,056 thousand in the same period in 2023[120] - Revenue for the six months ended June 30, 2024, increased by 9.8% to RMB 213,367 thousand compared to RMB 194,285 thousand in the same period last year[186] - Revenue for the quarter ending June 30, 2024, was RMB 104,845 thousand, a 5.8% year-over-year increase but a 3.4% decrease quarter-over-quarter[188] User Metrics - Paid players decreased by 6.3% from 0.22 million in Q1 2024 to 0.21 million in Q2 2024[10] - Daily active users (DAU) decreased by 2.4% from 1.15 million in Q1 2024 to 1.12 million in Q2 2024[10] - Monthly active users (MAU) decreased by 1.9% from 4.2 million in Q1 2024 to 4.1 million in Q2 2024[10] Gross Profit and Margins - Gross profit increased by 12.3% YoY to RMB 74.5 million in Q2 2024, with a gross margin of 71.1%[15] - Gross profit for the six months ended June 30, 2024 increased by 16.9% year-over-year to approximately RMB 151.7 million, with gross margin improving from 66.7% to 71.1%[29] - Gross profit for the six months ended June 30, 2024, rose to RMB 151,653 thousand, a 16.9% increase from RMB 129,674 thousand in the same period in 2023[120] - Gross profit rose by 16.9% to RMB 151,653 thousand from RMB 129,674 thousand year-over-year[186] - Gross profit for the quarter was RMB 74,541 thousand, up 12.3% year-over-year but down 3.3% quarter-over-quarter[188] Expenses - Sales and marketing expenses decreased by 18.8% YoY to RMB 10.7 million in Q2 2024[16] - Administrative expenses increased by 15.4% YoY to RMB 27.0 million in Q2 2024 due to higher employee compensation[17] - Sales and marketing expenses for the six months ended June 30, 2024 decreased by 23.3% year-over-year to approximately RMB 18.1 million, mainly due to reduced advertising and promotional activities[30] - Administrative expenses for the six months ended June 30, 2024 increased by 15.5% year-over-year to approximately RMB 54.0 million, primarily due to higher employee compensation and benefits[31] - Sales and marketing expenses increased by 46.7% quarter-over-quarter to RMB 10,741 thousand[188] - Administrative expenses rose by 15.4% year-over-year to RMB 27,034 thousand[188] Digital Assets and Cryptocurrency - Other losses increased significantly to RMB 121.8 million in Q2 2024, primarily due to digital asset fair value changes[18] - Financial income decreased to RMB 3.2 million in Q2 2024, down from RMB 14.3 million in Q2 2023, due to reduced bank deposits from cryptocurrency purchases[20] - Other income net for the six months ended June 30, 2024 was approximately RMB 240.7 million, compared to a net loss of RMB 21.1 million in the same period of 2023, mainly due to an increase in the fair value of cryptocurrencies[32] - The fair value of digital assets as of June 30, 2024, was approximately RMB 1,688.4 million, a significant increase from RMB 78.6 million at the end of 2023, with a fair value gain of RMB 245.7 million in the first half of 2024[43] - As of June 30, 2024, the company held approximately 2,079 Bitcoin with an average cost of $51,299 per Bitcoin and 15,279 Ethereum with an average cost of $2,756 per Ethereum[45] - The company's cash and cash equivalents decreased to RMB 61.6 million as of June 30, 2024, from RMB 744.3 million at the end of 2023, primarily due to cryptocurrency purchases[47] - Digital assets surged to RMB 1,688,439 thousand as of June 30, 2024, compared to RMB 78,598 thousand as of December 31, 2023[122] - The company invested RMB 1,351,936 thousand in digital assets during the six months ended June 30, 2024[129] - Digital assets, including cryptocurrencies and stablecoins, increased significantly to RMB 1,688,439,000 as of June 30, 2024, from RMB 78,598,000 as of December 31, 2023[166] Financial Performance and Metrics - The company recorded a loss attributable to owners of approximately RMB 67.4 million for the three months ended June 30, 2024, compared to a profit of RMB 26.9 million in the same period of 2023, mainly due to a decrease in the fair value of digital assets[23] - Non-IFRS adjusted loss for the three months ended June 30, 2024 was approximately RMB 64.0 million, compared to a profit of RMB 27.5 million in the same period of 2023, excluding share-based compensation expenses[25] - Profit attributable to owners for the six months ended June 30, 2024 increased by 411.7% year-over-year to approximately RMB 284.4 million, driven by an increase in the fair value of digital assets[37] - Adjusted net profit for the six months ended June 30, 2024, was approximately RMB 288.2 million, compared to RMB 57.0 million in the same period in 2023, representing an increase of 6.1% year-over-year[38][40] - Basic earnings per share for the six months ended June 30, 2024, were RMB 42.89, a significant increase from RMB 8.43 in the same period in 2023[120] - Net profit for the period increased by 411.7% to RMB 284,379 thousand from RMB 55,580 thousand year-over-year[186] - Non-IFRS adjusted net profit grew by 405.5% to RMB 288,245 thousand compared to RMB 57,017 thousand in the same period last year[186] - Net loss for the quarter was RMB 67,412 thousand, compared to a net profit of RMB 351,791 thousand in the previous quarter[188] - Non-IFRS adjusted net loss was RMB 63,982 thousand, compared to an adjusted net profit of RMB 352,227 thousand in the previous quarter[188] Shareholder and Equity Information - Dai Zhikang holds 36,500,000 shares in the company, representing 5.14% of the total issued shares[79][80] - Tao Ying holds 335,000 shares in the company, representing 0.05% of the total issued shares[79][80] - The company has a total of 709,576,301 issued shares as of June 30, 2024[80] - Zhang Wei holds 246,237,474 shares in the company through Chunlei Investment, representing 34.70% of the total issued shares[83][84] - Cantrust (Far East) Limited holds 282,737,474 shares in the company, representing 39.85% of the total issued shares[83] - Boyaa Global Limited holds 176,572,474 shares in the company, representing 24.88% of the total issued shares[83] - Emily Technology Limited holds 69,665,000 shares in the company, representing 9.82% of the total issued shares[83] - Visioncode Holdings Limited holds 36,500,000 shares in the company, representing 5.14% of the total issued shares[83] - Core Administration RSU Limited holds 48,710,660 shares in the company, representing 6.86% of the total issued shares[83][85] - The Core Admin Boyaa Option Limited holds 4,725 shares in the company, representing a negligible percentage of the total issued shares[85] Share Options and Restricted Share Units - The company's Post-IPO Share Option Plan expired on June 30, 2024, with no further options to be granted, but previously granted options remain exercisable for approximately one year and three months[87] - No share options were granted under the Post-IPO Share Option Plan during the six months ended June 30, 2024[87] - The Pre-IPO Share Option Plan expired on June 30, 2024, with no outstanding options remaining unexercised[89] - The 2024 Share Option Plan was approved on April 19, 2024, with a validity period of 10 years, and no options were granted under this plan as of June 30, 2024[90] - The maximum number of options available for grant under the 2024 Share Option Plan was 70,957,630 shares as of June 30, 2024[90] - Under the 2021 Restricted Share Unit Plan, 3,652,084 restricted share units vested, and 404,166 units lapsed during the six months ended June 30, 2024[92] - The 2024 Restricted Share Unit Plan was adopted on March 28, 2024, with a validity period of eight years, and it will only use existing shares held by its trustee[92] - All restricted share units granted under the 2013 Restricted Share Unit Plan had vested by January 1, 2024[92] - No restricted share units were granted to employees under the 2021 Restricted Share Unit Plan during the six months ended June 30, 2024[92] - The 2021 Restricted Share Unit Plan was terminated on March 28, 2024, but rights and obligations related to previously granted units remain valid[92] - 1,900,000 restricted share units were granted and immediately vested under the 2024 Restricted Share Unit Plan during the six months ended June 30, 2024[93] - 37,390,494 shares were held by Core Administration RSU Limited under the 2021 Restricted Share Unit Plan as of January 1, 2024, with zero shares remaining as of June 30, 2024[93] - 35,894,660 shares were held by Core Administration RSU Limited under the 2024 Restricted Share Unit Plan as of June 30, 2024[93] - 48,184,079 unvested shares held by Core Administration RSU Limited were subject to voting waiver at the 2024 Annual General Meeting[93] - 85,000 share options under the Post-IPO Share Option Plan remained unexercised as of June 30, 2024[95] - 200,000 restricted share units were granted under the 2024 Restricted Share Unit Plan on June 19, 2024[95] - 4,787,429 share options under the Post-IPO Share Option Plan remained unexercised as of June 30, 2024[95] - 1,700,000 restricted share units were granted under the 2024 Restricted Share Unit Plan on June 19, 2024[95] - 8,226,000 restricted share units remained unexercised under the 2022 Restricted Share Unit Plan as of June 30, 2024[95] - 17,688,429 total share options and restricted share units remained unexercised as of June 30, 2024[95] - 1,775,000 restricted share units granted on August 27, 2021, were unvested as of January 1, 2024, with 527,084 units vested during the six months ended June 30, 2024, at a weighted average market price of HK$0.76 per share[97] - 9,075,000 restricted share units granted on April 15, 2022, were unvested as of January 1, 2024, with 3,125,000 units vested during the six months ended June 30, 2024, at a weighted average market price of HK$2.28 per share[97] - 1,900,000 restricted share units granted on June 19, 2024, were fully vested immediately upon grant, with a weighted average market price of HK$1.96 per share and a fair value of HK$1.89 per share[97] - 50,000 shares were transferred to Ms. Tao Ying during the six months ended June 30, 2024, under the 2013 Restricted Share Unit Plan[98] - The exercise price for options granted under the Post-IPO Share Option Plan is HK$1.00 per option, with a 10-year exercise period[100] - Options granted under the Pre-IPO Share Option Plan have no exercise price and an 8-year exercise period[100] - Restricted share units granted before March 4, 2013, have the same vesting schedule as the Pre-IPO Share Option Plan[102] - Restricted share units granted on August 27, 2021, will expire on August 26, 2029[103] - Restricted stock units granted on April 15, 2022, will vest in portions: 25% after 12 months, 25% after 24 months, 12.5% after 30 months, 12.5% after 36 months, and the remaining 25% in 12 equal monthly installments starting from the 37th month, with an expiration date of April 14, 2030[105] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code during the six months ended June 30, 2024, and maintains a high level of corporate governance with a board consisting of two executive directors and three independent non-executive directors[109] - The audit committee reviewed the unaudited interim financial statements and interim report for the six months ended June 30, 2024, with no disagreements on accounting treatments between the board and the audit committee[113] - The company has adopted the standard code for securities transactions by directors, and all directors confirmed compliance during the six months ended June 30, 2024[111] - The independent review of the interim financial information for the six months ended June 30, 2024, found no material misstatements and confirmed compliance with International Accounting Standard 34[118] Investments and Assets - The company's asset-liability ratio as of June 30, 2024, was 17.0%, slightly down from 17.1% at the end of 2023[42] - The company's fixed deposits as of June 30, 2024, amounted to RMB 252.2 million, with an actual interest rate of approximately 2.6% during the first half of 2024[46] - The company's equity investments measured at fair value through other comprehensive income were valued at RMB 0.01 million as of June 30, 2024, down from RMB 10.5 million at the end of 2023[49] - The fair value of investments measured at fair value through profit or loss was approximately RMB 104.3 million as of June 30, 2024, compared to RMB 208.5 million as of December 31, 2023[50] - The fair value loss on investments measured at fair value through profit or loss was approximately RMB 14.9 million for the six months ended June 30, 2024, compared to RMB 24.0 million for the same period in 2023[50] - The company invested RMB 300.0 million in Jiaxing Boya, representing 99.0% of the total capital contribution, with a fair value of approximately RMB 3.1 million as of June 30, 2024, accounting for less than 5.0% of total assets[52] - The company had no short-term or long-term bank borrowings as of June 30, 2024[53] - Capital expenditures for the six months ended June 30, 2024, totaled approximately RMB 0.5 million, compared to RMB 9.8 million for the same period in 2023[54] - The company had no significant contingent liabilities, guarantees, or litigation as of June 30, 2024[55] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[56]

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告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並 明確表示，概不就因本公告全部 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。 Boyaa Interactive International Limited 博雅互動國際有限公司 （於開曼群島註冊成立的有限公司） （股份代號：0434） 截至二零二四年六月三十日止三個月及六個月的 中期業績公告 博 雅 互 動 國 際 有 限 公 司（「本公司」或「我 們」或「我們的」）董 事 會（「董事會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（「本集團」）截 至 二 零 二 四 年 六 月 三 十 日 止 三 個 月 及 六個月 （「報告期間」）的 未 經 審 計 簡 明 綜 合 業 績（「中期業績」）。中 期 業 績 已 經 由 本 公 司 的 核數師中匯安達會計師事務所有限公司根據香港會計師公 會頒佈的香港審閱準 則 第2410號「由 實 體 的 獨 立 核 數 師 審 閱 中 期 財 務 資 料」及 本 公 司 審 核 委 員 會（「審 核 委員會」）審 閱。 – 1 – ...

Boyaa Interactive International Limited 博雅互動國際有限公司 （於開曼群島註冊成立的有限公司） （股份代號：0434） 博雅互動國際有限公司（「本公司」或「我 們」或「我們的」）董事會（「董事會」）欣然公 佈本公司及其附屬公司（「本集團」或「我 們」或「我們的」）截至二零二四年三月三十 一日止三個月（「報告期間」）的未經審計綜合業績（「第一季度業績」）。第一季度業 績已經由本公司的核數師中匯安達會計師事務所有限公司根據香港會計師公會 頒佈的香港審閱準則第2410號「由實體的獨立核數師審閱中期財務資料」審閱，並 經本公司審核委員會審閱。本公告乃根據香港聯合交易所有限公司證券上市規則 （「上市規則」）第13.09條及香港法例第571章《證券及期貨條例》第XIVA部內幕消息 條文作出。 | --- | --- | --- | --- | --- | |-------------------------|---------------------------|--------------------------------------|---------|----------- ...

Revenue and Profit Performance - Revenue for the year ended December 31, 2023, was approximately RMB 394.6 million, a 5.1% increase compared to RMB 375.3 million in 2022, driven by online operational activities and game optimization[12] - Revenue for Q4 2023 was approximately RMB 100.3 million, a 6.3% increase compared to RMB 94.3 million in Q4 2022, with mobile game revenue rising 16.9% to RMB 71.8 million[19] - Revenue for 2023 reached RMB 394.582 million, showing a year-over-year increase from RMB 375.266 million in 2022[109] - Revenue for 2023 reached approximately RMB 394.6 million, a year-on-year increase of 5.1%[112] - Q4 2023 revenue was approximately RMB 100.3 million, a year-on-year increase of 6.3% and a quarter-on-quarter increase of 0.2%[112] - Gross profit for Q4 2023 increased by 19.6% to RMB 72.9 million compared to RMB 60.9 million in Q4 2022[20] - Gross profit for 2023 was RMB 271.279 million, up from RMB 245.845 million in 2022[109] - Gross profit margin improved to 68.8% in 2023 from 65.5% in 2022[13] - Net profit attributable to shareholders for Q4 2023 was RMB 32.1 million, a 15.5% increase compared to RMB 27.8 million in Q4 2022[25] - Net profit for 2023 was RMB 117.179 million, compared to RMB 64.200 million in 2022[109] - Profit before tax for 2023 stood at RMB 126.950 million, a significant rise from RMB 85.197 million in 2022[109] - Total comprehensive income for 2023 was RMB 139.744 million, up from RMB 114.517 million in 2022[109] - Unaudited non-IFRS adjusted net profit for 2023 was approximately RMB 118.9 million, a year-on-year increase of 77.2%[113] - Q4 2023 unaudited non-IFRS adjusted net profit was approximately RMB 31.9 million, a year-on-year increase of 11.3%[113] - Excluding non-operating one-time factors, the unaudited non-IFRS adjusted net profit for 2023 increased by 43.4% year-on-year[113] - The company achieved an unaudited non-IFRS adjusted net profit of approximately RMB 118.9 million in 2023, representing a year-on-year increase of 77.2%[129] - The company's unaudited non-IFRS adjusted net profit for 2023 increased by 43.4% year-on-year when excluding non-operating one-time factors such as fair value changes in equity investment partnerships[129] - The company's unaudited non-IFRS adjusted net profit for Q4 2023 increased by 6.0% quarter-on-quarter, primarily due to increased revenue and reduced cost of revenue compared to Q3 2023[136] - The company's unaudited non-IFRS adjusted net profit for 2023 was approximately RMB 118.9 million, compared to RMB 67.1 million in 2022[156] - Profit attributable to the company's owners increased by approximately 82.5% from RMB 64.2 million in 2022 to RMB 117.2 million in 2023[175] Game Revenue and User Metrics - Mobile games accounted for 70.1% of total revenue in 2023, up from 66.6% in 2022, while web games decreased to 29.9% from 33.4%[12] - Total paying players decreased by 4.6% to 206,000, with mobile game paying players down 3.8% to 203,000 and web game paying players down 40.0% to 3,000[73] - Daily active users (DAU) decreased by 4.5% to 1,130,000, with mobile game DAU down 3.4% to 1,053,000 and web game DAU down 17.2% to 77,000[73] - Monthly active users (MAU) decreased by 2.5% to 3,940,000, with mobile game MAU down 2.9% to 3,601,000 and web game MAU up 2.7% to 339,000[73] - ARPPU for Texas Hold'em web games increased by 73.0% to RMB 4,747.7, while mobile game ARPPU increased by 5.3% to RMB 207.2[73] - ARPPU for other card games in mobile games increased by 21.3% to RMB 83.0, while web game ARPPU remained flat at RMB 0.3[73] - The company's monthly active users (MAU) increased by 1.2% from 3.90 million in Q3 2023 to 3.94 million in Q4 2023, while daily active users (DAU) decreased by 4.0% from 1.18 million to 1.13 million during the same period[137] - The company's ARPPU (Average Revenue Per Paying User) for other mobile card games increased in Q4 2023[137] - The company had 67 traditional game products in operation as of December 31, 2023, with 12 language versions available[138] Cryptocurrency and Digital Assets - The company held digital assets worth approximately RMB 78.6 million as of December 31, 2023, including Tether, Ethereum, and Bitcoin[28] - The company was authorized to purchase up to $100 million in cryptocurrencies, with $45 million each allocated for Bitcoin and Ethereum, and up to $10 million for USDT and USDC[79] - The company purchased approximately 1,110 BTC and 14,855 ETH as part of its Web3 strategy, with these holdings showing growth by the reporting date[126] - The company plans to continue expanding its cryptocurrency reserves in 2024 to support its Web3 business layout and transformation strategy[131] - Cryptocurrency market volatility poses a potential risk to the company's business and operational results[104] Financial Position and Investments - Cash and cash equivalents as of December 31, 2023, were RMB 744.3 million, a significant increase from RMB 294.0 million in 2022, with 73.0% denominated in USD[29] - Capital expenditures for 2023 totaled approximately RMB 10.3 million, primarily for building purchases, equipment, and leasehold improvements[33] - The company's investment in Jiaxing Boya Chunlei Equity Investment Partnership was RMB 300.0 million, representing 99.0% of the total capital contribution[32] - The company invested RMB 300.0 million in Jiaxing Boya, with a fair value of RMB 3.3 million as of December 31, 2023, representing less than 5.0% of total assets[61] - The company's indirect wholly-owned subsidiaries invested RMB 30.0 million and RMB 50.0 million in structured deposits, and RMB 50.0 million in wealth management products with licensed banks in China[83] - The company held time deposits of approximately RMB 732.4 million as of December 31, 2023, with an actual interest rate of 4.29% for the year[165] - The fair value of equity investments measured at fair value through other comprehensive income was approximately RMB 10.5 million as of December 31, 2023, compared to RMB 18.1 million as of December 31, 2022[166] - The company's asset-liability ratio was 17.1% as of December 31, 2023, down from 18.4% at the end of 2022[163] - The company had no short-term or long-term bank borrowings as of December 31, 2023[57] - The company had no significant commitments as of December 31, 2023[58] - The company sold all its shares in Qudian Inc. (NYSE: QD) in the open market during 2023, with proceeds used for general working capital[54] - The company's financial income net in 2023 was approximately RMB 55.6 million, up from RMB 29.1 million in 2022, primarily due to increased interest income[153] - Net finance income for the three months ended December 31, 2023, was approximately RMB 15.0 million, compared to RMB 9.5 million in the same period of 2022, mainly due to increased interest income[181] Expenses and Costs - Sales and marketing expenses increased by 36.3% from RMB 35.4 million in 2022 to RMB 48.3 million in 2023, accounting for 12.2% of revenue compared to 9.4% in 2022[38] - Cost of revenue decreased by 18.0% from RMB 33.4 million in Q4 2022 to RMB 27.4 million in Q4 2023, primarily due to reduced commission expenses[44] - Total employee costs for 2023 were RMB 88.1 million, accounting for 32.6% of total expenses[64] - Administrative expenses for the year ended December 31, 2023, were approximately RMB 98.9 million, remaining flat compared to RMB 98.6 million in the same period of 2022[172] - Administrative expenses for the three months ended December 31, 2023, increased by 6.7% to RMB 30.7 million, compared to RMB 28.8 million in the same period of 2022[180] - The company's sales and marketing expenses increased by 10.2% year-over-year to RMB 11.1 million in the three months ended December 31, 2023[159] - The company recorded a net other loss of approximately RMB 51.2 million in 2023, a decrease from RMB 55.1 million in 2022, primarily due to reduced fair value losses on investments[173] - The company's share of losses from associates was approximately RMB 1.6 million in 2023, compared to RMB 0.6 million in 2022[174] Dividend and Shareholder Returns - The company proposed a final dividend of RMB 0.0335 per ordinary share, with a payout ratio of 20% based on the unaudited non-IFRS adjusted net profit for 2023[115] - The company adopted a new dividend policy, committing to distribute at least 20% of annual operating net profit and at least 5% of gains from crypto asset investments over the next five years[115] - The company declared a final dividend of RMB 0.0335 per ordinary share for 2023, with a payout ratio of 20% based on unaudited non-IFRS adjusted net profit[130] - The company plans to allocate at least 20% of its annual operating net profit to shareholders and distribute at least 5% of the appreciation gains from crypto assets annually over the next five years[130] Strategic Focus and Future Plans - The company is actively transforming its strategy to focus on Web3, aiming to become a leading Web3-listed company[118] - The company plans to expand its overseas market for chess and card games, including Web3 games[118] - The company continues to focus on the development and innovation of game products, particularly Web3 games[118] - In 2023, the company focused on Web3 game product R&D, game innovation, and user experience optimization, while also expanding its cryptocurrency reserves (including Bitcoin and Ethereum)[139] - The company has no plans for major acquisitions, investments, or capital assets as of the report date, but will conduct feasibility studies for potential future opportunities[88] Risks and Regulatory Environment - The company faces risks related to its reliance on social media platforms, app stores, and third-party payment providers for revenue generation[104] - Regulatory uncertainties in China regarding foreign investment laws could impact the company's operations[105] - The company's contractual arrangements in China may face severe consequences, including the abolition of agreements and loss of rights in the Variable Interest Entity (VIE), if found non-compliant with Chinese laws and regulations[193] - The company has implemented measures to mitigate risks related to contractual arrangements, including requiring directors with potential conflicts of interest to abstain from voting on relevant resolutions[197] - The company's actual income tax rate for Boya China is 15% for the year ending December 31, 2023, due to its renewed status as a "High-Tech Enterprise"[199] - Boya Shenzhen's actual income tax rate is 25% for the year ending December 31, 2023, as it has not renewed its "High-Tech Enterprise" status, but no income tax provision was made due to no taxable profits[199] Employee and Shareholder Information - The company had 233 full-time employees, with 193 in game development and operations, 29 in game support, and 11 in administration and senior management[89] - As of December 31, 2023, the company had 4,872,429 share options and 19,588,089 restricted share units outstanding, granted to 248 senior management and employees[64] - The company has no significant contingent liabilities, guarantees, or litigation as of December 31, 2023[86]

Financial Performance - For the year ended December 31, 2023, the company's revenue was approximately RMB 394.6 million, an increase of about 5.1% compared to RMB 375.3 million in 2022[5]. - The gross profit for the year ended December 31, 2023, was approximately RMB 271.3 million, reflecting a 10.3% increase from RMB 245.8 million in 2022[5]. - The profit attributable to the owners of the company for the year ended December 31, 2023, was approximately RMB 117.2 million, representing an increase of about 82.5% from RMB 64.2 million in 2022[5]. - The adjusted net profit (unaudited) for the year ended December 31, 2023, was approximately RMB 118.9 million, up about 77.2% from RMB 67.1 million in 2022[5]. - The company reported a proposed final dividend of RMB 0.0335 per ordinary share for the year ended December 31, 2023[5]. - The adjusted net profit for 2023 was approximately RMB 118.9 million, a significant year-on-year increase of about 77.2%[12]. - For the fourth quarter of 2023, the company's revenue was approximately RMB 100.3 million, a year-on-year increase of approximately 6.3% from RMB 94.3 million in the same period of 2022[31]. - The company recorded a net profit attributable to owners of approximately RMB 117.2 million for the fiscal year ending December 31, 2023, an increase of about 82.5% from RMB 64.2 million in 2022[27]. User Metrics - The number of paying users as of December 31, 2023, was 206,000, a decrease of 4.6% from 216,000 in the same period last year[9]. - Daily active users (DAUs) were 1,130,000 as of December 31, 2023, down 4.5% from 1,183,000 a year earlier[9]. - The average revenue per paying user (ARPPU) for mobile games was RMB 207.2, an increase of 5.3% compared to RMB 196.8 in the previous year[9]. - The monthly active users increased by approximately 1.2% from about 3.90 million in Q3 2023 to about 3.94 million in Q4 2023[14]. Expenses and Costs - Sales and marketing expenses rose by approximately 36.3% to RMB 48.3 million, accounting for about 12.2% of total revenue, up from 9.4% in the previous year[20]. - The company's administrative expenses remained stable at approximately RMB 98.9 million, compared to RMB 98.6 million in the previous year[21]. - Selling and marketing expenses increased to approximately RMB 11.1 million in the fourth quarter of 2023, up approximately 10.2% from RMB 10.1 million in the same period of 2022[34]. - Administrative expenses rose to approximately RMB 30.7 million in the fourth quarter of 2023, an increase of approximately 6.7% from RMB 28.8 million in the same period of 2022[36]. Investments and Assets - As of December 31, 2023, the company's total digital assets amounted to approximately RMB 78.6 million, including Tether, Ethereum, and Bitcoin[47]. - As of December 31, 2023, the company had cash and cash equivalents of approximately RMB 744.3 million, a significant increase from RMB 294.0 million as of December 31, 2022[50]. - The company recorded investments measured at fair value through profit or loss of approximately RMB 208.5 million as of December 31, 2023, compared to RMB 185.3 million as of December 31, 2022[52]. - The company incurred a loss of RMB 1,178,101 thousand from fixed-term deposits held for more than three months in 2023[79]. Strategic Focus - The company is focusing on the research and development of Web3 games and aims to enhance the quality of its gaming products[15]. - The company plans to continue focusing on the development of Web3 gaming products and infrastructure, aiming to enhance user experience and expand into overseas markets[16]. - The company aims to increase its cryptocurrency reserves, including Bitcoin and Ethereum, as part of its Web3 strategy[16]. - The company plans to focus on developing Web3 gaming-related businesses moving forward[80]. Legal and Compliance - The company is committed to complying with legal regulations in various jurisdictions while striving to build a century-old brand in the online gaming industry[16]. - The company has received all necessary licenses and approvals for its online gaming operations in China, ensuring compliance with local laws[141]. - The company is actively seeking legal advice regarding the ongoing legal matters to protect its interests and those of its shareholders[141]. Corporate Governance - The board consists of two executive directors and three independent non-executive directors, ensuring strong independence[151]. - The company has complied with all applicable corporate governance codes during the reporting period[149]. - The company has not identified any significant issues in its internal control systems following an independent investigation[139].