大手笔投资房地产 中经记者 李哲 北京报道 6月13日，飞鱼科技（01022.HK）公告披露，其计划购买位于北京市朝阳区东三环中路39号的不动产资 源，合计支出金额5030万元。 《中国经营报》记者注意到，飞鱼科技主营业务是网络游戏开发，其在大手笔投资房地产背后，2024年 业绩却由盈转亏。财报显示，2024年飞鱼科技实现营业收入2.77亿元，同比增长22.35%，但是其归属于 母公司的净利润却亏损4439.40万元。 对于此次购置北京不动产资源，飞鱼科技方面表示，尽管楼市近期低迷，但收购对其而言仍属理想的长 期投资。长远来看，该等物业的租金收入将为其带来相对稳定的回报。 公告信息显示，飞鱼科技通过北京佳立客（买方）与卖方及中介就购买不动产签订相关协议内容。 记者了解到，此次飞鱼科技计划购买的资产位于北京市朝阳区东三环中路39号，包括23号楼B-3001、B- 3002、B-3003、B-3004、B-3005、B-3006室及3个停车位。交易价格为5030万元。 当前，飞鱼科技拟收购资产的办公室区域处于出租状态。买方同意按月租金范围为4.5万元至6.4万元的 现有租约购买办公室单位，直至租约终止。最后一份现 ...

财报披露，飞鱼科技将致力于长期运营现有热门游戏，如"神仙道"、"保卫萝卜"系列等，以保持稳定的 现金流。此外，其还将拓展海外市场，丰富收益来源。 （文章来源：南方都市报） 此外，该等物业与集团的北京办事处位于同一商业区，因此收购事项亦将为集团带来未来扩展及发展空 间，未来在需要时可将该等物业重新指定为集团的自用办事处。 飞鱼科技在2024年虽然实现了营收增长，但在利润端面临较大压力。财报显示，飞鱼科技2024年实现营 业收入2.77亿元，同比增长22.35%，归属母公司净亏损4439.40万元，同比止盈转亏。 主营业务收入主要来自游戏营运，占86.29%，收入为2.39亿元。广告收益和授权及知识产权相关收入分 别为2438.6万元和1324万元，分别占总收入的8.81%和4.78%。新推出的HTML5游戏"一步两步"表现突 出，推动了飞鱼科技整体收入的增长。 飞鱼科技发布公告，于6月13日，集团透过北京佳立客(作为买方)与卖方(YangJing及杨福岑)及中介(北京 安信益合房地产经纪有限公司)就购买物业订立协议，代价为人民币5030万元。 将予收购的物业全部位于北京市朝阳区东三环中路39号，为23号楼B-3 ...

Financial Performance - The company achieved a total revenue of RMB 276.7 million for the year ended December 31, 2024, representing a year-on-year growth of 22.4%[9] - The company reported a net loss attributable to equity holders of RMB 44.4 million for the year ended December 31, 2024[7] - The total equity decreased to RMB 482.6 million from RMB 525.9 million in the previous year[8] - For the fiscal year ending December 31, 2024, the company's gaming operations generated approximately RMB 238.8 million, an increase of about 36.7% from RMB 174.7 million in the previous year, primarily driven by the successful launch of the HTML5 game "一步两步" on August 1, 2024[27] - The company reported a net loss of RMB 46.1 million for the year ended December 31, 2024, compared to a profit of RMB 52.2 million in the previous year[34] - The company experienced a significant decrease in licensing and intellectual property-related income, dropping 52.7% to RMB 13.2 million due to the transition of "God's Path 3" to self-operation[36] - Other income and gains decreased by approximately 30.9% from RMB 22.3 million for the year ended December 31, 2023, to RMB 15.4 million for the year ending December 31, 2024, primarily due to a drop in investment income from RMB 7.2 million to RMB 1.2 million[40] Game Development and Launches - The successful launch of the HTML5 game "Step by Step" on August 1, 2024, significantly contributed to the company's performance[9] - Three new games were launched in 2024, including two HTML5 games and one virtual reality game, enhancing the company's product portfolio[10] - The game "Step by Step" quickly gained popularity, ranking in the top ten of the WeChat mini-game sales chart by December 2024[10] - The existing game series "Xianxian Dao" continued to generate stable revenue across online and mobile platforms, demonstrating ongoing popularity[10] - The daily active users (DAU) for the game "Defend the Carrot 4," launched in 2022, recorded moderate growth, indicating its sustained appeal[10] - The company plans to launch multiple new HTML5 games in 2025, alongside the anticipated release of the console game "Neon Abyss 2," expected to diversify revenue sources[14] - The company plans to launch multiple new HTML5 games in 2025, continuing to invest in the game "一步两步" to maintain its momentum since its release[22] - The company launched several new games including "一步两步", "Let's Plane", and "野人快跑" during the fiscal year ending December 31, 2024[93] User Engagement and Market Trends - The advertising revenue from "Defend the Carrot 4" grew by 22.2% compared to 2023, indicating sustained user engagement and advertiser interest[15] - As of December 31, 2024, the company reported approximately 235.7 million registered users for its RPG mobile and online games, with 173.4 million in online games and 62.3 million in mobile games[28] - The average Monthly Active Users (MPU) for online games decreased by 16.7% to 5,000 from 6,000 in the previous year, while mobile RPG games saw a 47.9% drop from 94,000 to 49,000[30] - Player satisfaction rating showed that approximately 92.31% of users rated their experience as 4 or above on a scale of 1 to 5, based on feedback from 7,975 users[190] Intellectual Property and Licensing - The blind box themed around "Defend the Carrot" achieved significant success, highlighting the commercial value of the company's intellectual property[10] - The company has expanded the "Defend the Carrot" IP into non-gaming applications, introducing 6 new product lines, bringing the total to 13 by the end of the year[16] - A limited edition of the golden "Defend the Carrot" collectible sold out within 5 minutes, setting a record for the fastest-selling licensed merchandise[16] - The company launched a total of 48 licensed products, focusing on lifestyle and office supplies, with many items experiencing multiple restocks due to high demand[17] Regulatory and Compliance - Key risks include strict regulatory oversight in the online gaming industry and the need to manage growth effectively to sustain business performance[18] - The company has established a game content review team to ensure compliance with relevant laws and regulations, focusing on player health and safety[20] - The company emphasizes compliance with various laws and regulations impacting its operations, including the Personal Information Protection Law and the Data Security Law of the People's Republic of China[85] Environmental, Social, and Governance (ESG) - The company is committed to sustainable development and has established a governance framework for environmental, social, and governance (ESG) issues[99] - The company has established an Environmental, Social, and Governance (ESG) working group to coordinate ESG initiatives across various departments, including R&D and operations[100] - The company has set environmental targets related to greenhouse gas emissions, waste management, energy consumption, and water resource management, with management reviewing progress at least annually[100] - The company aligns its vision with the United Nations Sustainable Development Goals (SDGs) and has developed specific strategies and targets for seven relevant SDGs[102] - The company emphasizes responsible operations, innovation, and community contributions as part of its strategic goals[103] - The company has committed to community service and educational sponsorships as part of its social responsibility initiatives[84] Employee and Workplace - The company has a total of 381 employees as of December 31, 2024, an increase from 334 in 2023, with 100% being full-time employees[111] - Employee turnover rate for 2024 is 19%, down from 33% in 2023, indicating improved employee retention[116] - The company provided a total of 1,379 training hours in 2024, slightly up from 1,375 hours in 2023[161] - The company has established a reward mechanism linked to individual performance, enhancing employee motivation and retention[119] - The company emphasizes diversity and equal opportunity in its hiring and evaluation processes, with no complaints regarding workplace inequality reported this year[120] Waste and Resource Management - The company reported a total waste generation of 564.26 tons in 2024, an increase from 535.56 tons in 2023, with a waste generation density of 76.62 kg/m²[180] - The total amount of waste recycled was 281.13 tons in 2024, up from 242.68 tons in 2023[180] - The company achieved a greenhouse gas emission reduction, with total emissions of 372.41 tons CO2 equivalent in 2024, down from 517.02 tons in 2023[177] - The company has implemented energy-saving measures to reduce unnecessary energy consumption and improve energy efficiency[175] - The company has installed dual-flush systems in restrooms to promote water conservation, contributing to a reduction in overall water usage[184]

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 276.7 million, representing a 22.4% increase compared to RMB 226.2 million in 2023[3]. - Gross profit for the same period was RMB 237.2 million, reflecting a 22.0% growth from RMB 194.5 million in the previous year[3]. - The company reported a loss before tax of RMB 44.5 million, compared to a profit of RMB 52.6 million in 2023, indicating a significant shift in financial performance[3]. - The company's gaming operations generated approximately RMB 238.8 million in revenue for the year ended December 31, 2024, representing an increase of about 36.7% compared to RMB 174.7 million for the year ended December 31, 2023[20]. - The loss for the year ending December 31, 2024, was approximately RMB 46.1 million, compared to a profit of approximately RMB 52.2 million for the year ended December 31, 2023[42]. - Total equity decreased from approximately RMB 525.9 million as of December 31, 2023, to approximately RMB 482.6 million as of December 31, 2024, primarily due to the recorded loss[43]. - Cash and cash equivalents decreased from approximately RMB 160.7 million as of December 31, 2023, to approximately RMB 100.7 million as of December 31, 2024, mainly due to the purchase of fixed-term deposits and repayment of bank loans[44]. Revenue Growth and Market Trends - The online gaming industry in China recorded revenues of RMB 325.8 billion in 2024, with a year-on-year growth of 7.5%, highlighting a recovering market environment[4]. - The successful launch of the new HTML5 game "One Step Two Steps" contributed significantly to revenue growth, achieving a ranking of 8th in the WeChat mini-game sales chart in January 2025[5][6]. - The company plans to expand its existing game IPs, with the "Defend the Carrot" series seeing a 22.2% increase in advertising revenue compared to 2023, demonstrating sustained user engagement[7]. - The company anticipates that the promotional activities for "One Step Two Steps" will yield strong returns, supporting continued growth in the coming years[6]. - The HTML5 gaming segment is expected to show strong growth potential, driven by its ease of play compared to other game types[12]. User Engagement and Product Development - The average Monthly Active Users (MAU) for RPG mobile and online games totaled approximately 0.2 million as of December 31, 2024, with mobile games contributing about 0.1 million and online games also about 0.1 million[22]. - The average Monthly Paying Users (MPU) for network games (RPG) decreased from approximately 6,000 in 2023 to about 5,000 in 2024, a decline of 16.7%[23]. - The average MPU for mobile RPG games dropped by 47.9% from approximately 94,000 in 2023 to about 49,000 in 2024[24]. - The company launched a total of 48 licensed merchandise products, focusing on lifestyle and office supplies, which have been well-received by fans[9]. - The company has successfully introduced six new products under the "Defend the Carrot" series, expanding its merchandise offerings significantly[8]. Challenges and Risks - The company faces significant risks including strict regulations in the online gaming industry in China, which could adversely affect its operations if licenses are not maintained[10]. - The company recognizes the challenges posed by rising customer acquisition costs and declining consumer confidence in the online gaming industry[12]. - The company plans to focus on long-term operations rather than immediate monetization for certain games, impacting revenue from "保卫萝卜4"[30]. Investment and Financial Strategy - The company is investing heavily in technology infrastructure to enhance player experience and game performance[11]. - The company aims to expand its game distribution platform to penetrate existing markets and explore new markets both domestically and internationally[14]. - The company is committed to improving its existing game portfolio and attracting new talent to enhance its competitive edge[14]. - The company maintains a diversified investment portfolio, with at least 50% of total investments allocated to risk-free or capital-protected investments[49]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[150]. - The company has adhered to all relevant laws and regulations that significantly impact its business operations[81]. - The company will continue to regularly review and monitor its corporate governance practices to ensure compliance with applicable standards[152]. Future Outlook - The company plans to launch multiple new HTML5 games in 2025, continuing to invest in its successful title "Step by Step" to maintain momentum[13]. - The company plans to enhance its product offerings and increase promotional efforts for its intellectual property products to drive sales growth and improve brand recognition[19]. - The company aims to increase the actual exposure of its intellectual property through various offline channels, including exhibitions and cultural events, to attract a broader audience[19].

Financial Performance - For the first half of 2024, the company reported total revenue of RMB 101.8 million, a decrease of 5.7% compared to RMB 107.9 million in the same period last year[7]. - The gross profit for the first half of 2024 was RMB 85.6 million, down 9.8% from RMB 94.9 million year-on-year[7]. - The company recorded a loss attributable to equity holders of RMB 1.6 million, primarily due to an investment loss of RMB 11.6 million from a non-listed limited partnership[9]. - Game operation revenue for the first half of 2024 was approximately RMB 833.12 million, a decrease of about 8.6% compared to RMB 912.84 million in the same period of 2023[17]. - Total revenue decreased by 5.7% from approximately RMB 107.9 million to RMB 101.8 million for the six months ending June 30, 2024[22]. - Other income and gains dropped by approximately 52.0% from RMB 17.9 million to RMB 8.6 million, mainly due to a significant decrease in investment income[27]. - The company recorded a loss of approximately RMB 2.0 million for the six months ending June 30, 2024, compared to a profit of RMB 40.9 million for the same period in 2023[34]. - The company incurred a net loss of RMB 1,964 thousand for the six months ended June 30, 2024, compared to a profit of RMB 40,866 thousand in the prior year[80]. - Total comprehensive income for the period was RMB 3,620,000, down from RMB 46,164,000 in the previous year, indicating a decrease of approximately 92.16%[81]. Assets and Liabilities - Non-current assets increased by 9.1% to RMB 521.4 million from RMB 477.7 million as of December 31, 2023[8]. - Current assets decreased by 31.8% to RMB 152.9 million from RMB 224.3 million as of December 31, 2023[8]. - Total assets decreased by 3.9% to RMB 674.3 million from RMB 701.9 million as of December 31, 2023[8]. - The total liabilities decreased by 17.8% to RMB 144.7 million from RMB 176.0 million as of December 31, 2023[8]. - Cash and cash equivalents decreased by approximately 42.2% to RMB 92.9 million as of June 30, 2024, from RMB 160.7 million as of December 31, 2023[36]. - The company had total bank loans of approximately RMB 92.5 million as of June 30, 2024, down from RMB 95.5 million as of December 31, 2023[37]. - The company's debt-to-asset ratio as of June 30, 2024, was 21.5%, down from 25.1% as of December 31, 2023[53]. - Total liabilities decreased to RMB 54,426,000 from RMB 80,841,000, a reduction of approximately 32.5%[84]. User Engagement and Market Trends - As of June 30, 2024, the company had approximately 235.3 million registered users for its RPG mobile and online games, with 173.3 million for online games and 62.0 million for mobile games[18]. - The average Monthly Active Users (MAU) for RPG mobile games decreased by 80.8% to approximately 60,000 from 313,000 in the previous year[19]. - The online gaming market in China saw a slight revenue increase of 2.08% year-on-year, with HTML5 games experiencing a significant growth of 60.5%[9]. - The average Revenue Per Paying User (ARPPU) for mobile RPG games increased by 452.1% to RMB 104.9 from RMB 19.0 in the previous year[19]. - The company is focusing on long-term operations of its popular IP portfolio, including "Defend the Carrot" and "Gods and Demons," to lay a solid foundation for potential sequels[15]. Strategic Initiatives - The company is focusing on developing new HTML5 games, which are expected to enhance user experience despite short-term financial impacts[9]. - The company aims to launch 8 new HTML5 games in the second half of 2024, leveraging its diverse game themes and licenses[14]. - The company has partnered with Beijing Oriental Garden Environment Co., Ltd. to develop a physical theme park based on the "Defend the Carrot" IP, expected to open in the first half of 2025[10]. - The company plans to build and operate the first "Defend the Carrot" themed park in Yunnan Province, with expectations to expand to multiple cities nationwide[14]. - The company is adopting the latest technologies, including AI-generated content, to improve operational efficiency[13]. Expenses and Costs - Sales and distribution expenses surged by approximately 102.9% from RMB 17.8 million to RMB 36.2 million, attributed to the transition of "Gods and Immortals 3" from third-party operation to self-operation[28]. - Administrative expenses decreased by approximately 9.6% to RMB 19.7 million for the six months ending June 30, 2024, from RMB 21.8 million for the same period in 2023[29]. - R&D costs for the six months ending June 30, 2024, were approximately RMB 27.2 million, a decrease of about 1.7% from RMB 27.6 million for the same period in 2023[30]. - Financing costs increased by approximately 24.1% to RMB 2.2 million for the six months ending June 30, 2024, from RMB 1.7 million for the same period in 2023[31]. Shareholder Information - The total number of issued shares as of June 30, 2024, is 1,749,442,062[3]. - The 2024 share option plan allows for a total of 174,944,206 shares to be issued, which is 10% of the total issued shares as of May 24, 2024[65]. - The exercise price for the share options is set at HKD 1.256, with the closing price at HKD 1.24[63]. - The company has approved a new stock option plan effective May 24, 2024, allowing for a maximum of 174,944,206 shares to be granted under the plan, which is 10% of the company's issued shares at the time of adoption[129]. - The company has a policy requiring independent non-executive director approval for granting options to directors or major shareholders[129]. Governance and Compliance - The board of directors remains unchanged with seven members, including four executive directors and three independent non-executive directors[75]. - The company continues to adhere to high standards of corporate governance and has not identified any violations of the trading code by employees during the reporting period[75]. - The independent auditor, Ernst & Young, has reviewed the interim financial information and found no issues that would lead to a belief that the financial data is not prepared in accordance with International Accounting Standard 34[79].

Financial Performance - For the six months ended June 30, 2024, the company reported total revenue of RMB 101.8 million, a decrease of 5.7% compared to RMB 107.9 million in the same period of 2023[1][2]. - Gross profit for the same period was RMB 85.6 million, down 9.8% from RMB 94.9 million year-on-year[1][2]. - The company recorded a loss before tax of RMB 1.6 million, compared to a profit of RMB 40.3 million in the previous year, indicating a significant decline in financial performance[1][2]. - Game operation revenue for the six months ended June 30, 2024, was approximately RMB 83.3 million, a decrease of about 8.6% compared to RMB 91.2 million in the same period of 2023[10]. - The company reported a net loss of RMB 1.964 million for the six months ending June 30, 2024, compared to a profit of RMB 40.262 million in the same period of 2023[15]. - The company reported a basic earnings per share of (RMB 1,586,000) for the period, compared to RMB 40,262,000 in the previous year, with a weighted average of 1,733,746,210 shares outstanding[80]. User Engagement and Game Development - The number of new games approved in the first half of 2024 increased compared to the same period last year, reflecting a more favorable regulatory environment[2]. - The company is focusing on developing new HTML5 games, which are expected to enhance user engagement and improve financial performance in the long term[2]. - The "Defend the Carrot" game series continues to generate stable revenue contributions, demonstrating the company's ability to maintain strong user engagement[3][4]. - The company launched seven co-branded "Defend the Carrot" slippers, which have been well received by consumers across major e-commerce platforms and retail stores[4]. - The company plans to launch 8 new HTML5 games in the second half of 2024, starting with "One Step Two Steps" on August 1, 2024[7]. - The company is focusing on long-term operation of "Defend the Carrot 4," which has led to a decrease in immediate revenue generation[10]. - The company continues to implement various in-game promotions and activities to enhance user experience and maintain user interest, which is deemed essential for retaining and expanding active player base[13]. Revenue Streams and Costs - Advertising revenue decreased by approximately 12.1% from RMB 11.0 million in the six months ending June 30, 2023, to RMB 9.6 million in the same period of 2024, primarily due to a focus on long-term game operation[18]. - The total cost of sales increased by 24.0% to RMB 16.2 million for the six months ending June 30, 2024, compared to RMB 13.0 million in the same period of 2023[15]. - Selling and distribution expenses increased by approximately 102.9% from approximately RMB 17.8 million for the six months ended June 30, 2023, to approximately RMB 36.2 million for the six months ending June 30, 2024, mainly due to promotional activities for "Shenxian Dao 3"[22]. - R&D costs were approximately RMB 27.2 million for the six months ending June 30, 2024, a decrease of approximately 1.7% from approximately RMB 27.6 million for the six months ended June 30, 2023[24]. User Metrics - The company reported a total of approximately 235.3 million registered users for RPG mobile and online games, with 173.3 million for online games and 62.0 million for mobile games as of June 30, 2024[11]. - The average Monthly Active Users (MAU) for RPG mobile games was approximately 0.1 million, while the MAU for casual games was about 5.3 million as of June 2024[12]. - For the six months ending June 30, 2024, the average Monthly Active Users (MPU) for online games was approximately 5,000, compared to about 6,000 for the same period in 2023, indicating a decline due to the games entering their expected life cycle's later stage[13]. - The average MPU for mobile RPG games decreased by 80.8% from approximately 313,000 in the six months ending June 30, 2023, to about 60,000 in the same period of 2024, primarily due to the initial high MPU of "Gods and Demons 3" launched in June 2023[13]. Strategic Initiatives - The company is expanding its intellectual property licensing strategy, including the construction of theme parks in various cities[7]. - The company aims to enhance collaboration with leading online platforms and explore brand co-marketing activities with offline chain stores[7]. - The company is leveraging artificial intelligence to enhance operational efficiency and improve game content creation[6]. - The company has initiated discussions for potential acquisitions to strengthen its portfolio and expand its capabilities[96]. Investment and Financial Position - Total equity as of June 30, 2024, was approximately RMB 529.6 million, stable compared to approximately RMB 525.9 million as of December 31, 2023[30]. - As of June 30, 2024, the company held cash resources of approximately RMB 7.6 million, an increase from RMB 7.4 million as of December 31, 2023[32]. - The total bank loans amounted to approximately RMB 92.5 million, a decrease from RMB 95.5 million as of December 31, 2023, with RMB 6.0 million due within one year[32]. - The company has a diversified investment portfolio, with at least 50% of total investments allocated to risk-free or capital-protected investments[33]. - The fair value of debt investments and equity investments designated at fair value through other comprehensive income was approximately RMB 138.1 million, down from RMB 147.0 million as of December 31, 2023[32]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[89]. - The company has adopted standard rules for directors conducting securities transactions, with no violations reported as of June 30, 2024[90]. - The audit committee was established on November 17, 2014, and has been updated several times, with the current members being independent non-executive directors[88].

Financial Performance - The company reported a revenue of RMB 226.2 million for the year ended December 31, 2023, representing an 18.1% increase compared to RMB 191.5 million in 2022[8]. - Gross profit for the same period was RMB 194.5 million, with a gross margin improvement of 5.5 percentage points to 86.0%[10]. - The company achieved a profit attributable to equity holders of RMB 52.0 million, a significant turnaround from a loss of RMB 29.6 million in 2022[8]. - Total assets rose to RMB 701.9 million in 2023, up from RMB 625.7 million in 2022, reflecting overall financial strength[9]. - Total equity increased to RMB 525.9 million in 2023 from RMB 456.5 million in 2022, showcasing improved financial health[9]. - The company reported a profit of approximately RMB 52.2 million, marking a turnaround from a loss in 2022[14]. - The net profit for the year ended December 31, 2023, was RMB 52.2 million, a significant recovery from a loss of RMB 24.4 million in the previous year[35]. - The company's game operation revenue increased by approximately 13.6% to RMB 174.7 million, benefiting from the full-year contribution of "Defend the Carrot 4" and the successful launch of "Xianxian Dao 3"[37]. Game Development and Launches - The company launched the highly anticipated game "Xianxiandao 3," which quickly reached the 11th position on the Apple China App Store sales chart[10]. - The successful launch of new games, particularly "Defend the Carrot 4" and "Immortal Path 3," significantly contributed to the improved financial performance[14]. - The company launched three new games in 2023, with "Immortal Path 3" quickly topping the Apple China App Store free chart on its release day[15]. - The company plans to launch five new games in 2024, including HTML5, mobile, and console games, while continuing to invest in existing games[21]. - Feiyu Technology launched several new games in 2023, including "God仙道3," "Clear Sky Twins," and "Block Hunter" to enhance its product offerings[104]. User Engagement and Market Presence - As of December 31, 2023, the company had approximately 234.8 million registered users for its RPG mobile and online games, with 173.3 million for online games and 61.5 million for mobile games[29]. - The average Monthly Active Users (MPU) for mobile RPG games grew by 25.3% from approximately 75,000 to 94,000, primarily due to the launch of "Xianxian Dao 3" in 2023[31]. - The average MPU for casual games increased by 28.5% from approximately 246,000 to 316,000, driven by attractive events and updates like the PVP feature in "Defend the Carrot 4"[31]. - The company continues to manage and optimize its existing game portfolio to enhance player engagement and retention[20]. Financial Management and Investments - Non-current assets increased to RMB 477.7 million in 2023 from RMB 425.1 million in 2022, indicating a growth in long-term investments[9]. - Current liabilities decreased to RMB 80.8 million in 2023 from RMB 87.7 million in 2022, indicating improved short-term financial management[9]. - The company is focusing on operational efficiency by strategically reallocating resources to higher-return business projects, resulting in reduced operating expenses for 2023[14]. - The company has maintained a diversified investment portfolio, with at least 50% of total investments allocated to low-risk or capital-preserving investments[61]. Regulatory and Compliance Issues - The company continues to face risks related to strict regulations in the online gaming industry, which could adversely affect its operations and financial performance[18]. - The company has established a game content review team to ensure compliance with relevant laws and regulations, focusing on player health and safety[20]. - The company has complied with all relevant laws and regulations affecting its business and operations as of the report date[96]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable operations by promoting eco-friendly practices and community service initiatives, including waste management and environmental awareness among employees[93][94]. - The environmental, social, and governance (ESG) report covers the company's performance from January 1, 2023, to December 31, 2023, maintaining the same scope as the previous year[100]. - Feiyu Technology emphasizes the integration of environmental, social, and governance (ESG) principles into its corporate governance and decision-making processes to create long-term value[110]. - The company has established an ESG working group to oversee the implementation of its sustainability initiatives and to monitor progress towards environmental goals[111]. Employee Management and Development - The total number of employees as of December 31, 2023, is 334, a decrease from 365 in 2022, with 100% being full-time employees[130]. - Employee turnover rate for the overall workforce is 33%, down from 53% in the previous year[139]. - The company emphasizes the importance of employee welfare and career development as a priority[129]. - The company has implemented a transparent recruitment process to meet current and future staffing needs, utilizing various channels such as online platforms and campus recruitment[141]. Community Engagement and Support - The company funded 40 high school students from Yunnan Province with a total financial support of RMB 56,000 in the current year[180]. - The company donated 2 computers, 50 sets of stationery, and 1 projector to a charity event organized by the China Audio-Video and Digital Publishing Association[182]. - The company is dedicated to supporting youth development and community contributions through various initiatives and partnerships with charitable organizations[115].

Financial Performance and Revenue - Revenue for the year 2023 reached RMB 226.2 million, an increase of 18.1% compared to the previous year[44] - Net profit attributable to owners of the company for 2023 was RMB 52.2 million, turning around from a loss in 2022[44] - Gross profit for 2023 was RMB 194.5 million, a 26.1% increase from 2022[44] - Total revenue increased by 18.1% from RMB 191.5 million in 2022 to RMB 226.2 million in 2023[98] - Licensing and intellectual property-related revenue surged by 261.6% from RMB 7.7 million in 2022 to RMB 28.0 million in 2023, driven by a one-time licensing fee for "Shen Xian Dao 3"[99] - Game development service revenue decreased by 75.6% from RMB 7.7 million in 2022 to RMB 1.9 million in 2023 due to the completion of commissioned game development projects[100] - Net profit for the year was RMB 52.2 million in 2023, compared to a net loss of RMB 24.4 million in 2022[107] - Revenue from continuing operations for the six months ended December 31, 2023, was HKD 17,066 million, a 25.1% decrease year-over-year, primarily due to reduced property development revenue in Hong Kong and mainland China[123] - Gross profit for the six months ended December 31, 2023, increased by 2.4% to HKD 7,257 million, benefiting from higher-margin property investments in K11 projects[123] - Game operation revenue increased to RMB 174.674 million, accounting for 77.2% of total revenue, up from RMB 153.768 million (80.3%) in 2022[126] - Online game distribution revenue surged by 478.4% to RMB 2.7 million in 2023, driven by the launch of the mobile game "晴空双子" in the second half of the year[127] - Advertising revenue decreased by 13.2% to RMB 18.7 million in 2023, primarily due to the aging lifecycle of key games like "保卫萝卜1," "保卫萝卜2," and "保卫萝卜3"[128] - Gross profit rose by 26.1% to RMB 194.5 million in 2023, with a gross margin of 86.0%, up 5.5 percentage points from 80.5% in 2022[130] - Net profit attributable to equity holders of the company was RMB 52.013 million in 2023, compared to a loss of RMB 29.637 million in 2022[136] - Revenue for the year ended December 31, 2023, was RMB 226.189 million, with a gross profit of RMB 194.467 million, compared to RMB 191.519 million in revenue and RMB 154.201 million in gross profit for the previous year[200] - The company reported a profit before tax of RMB 52.560 million for the year ended December 31, 2023, compared to a loss of RMB 23.129 million in the previous year[199] Investments and Financial Assets - The fair value of ordinary bonds increased slightly from RMB 58,121,000 in 2022 to RMB 58,177,000 in 2023[3] - The fair value of non-listed equity investments, measured at fair value, increased significantly from RMB 16,205,000 in 2022 to RMB 34,204,000 in 2023[3] - The fair value of non-listed debt investments, measured at fair value, increased from RMB 44,337,000 in 2022 to RMB 47,297,000 in 2023[3] - The bond fund investment remained relatively stable, with a fair value of RMB 7,347,000 in 2023 compared to RMB 7,605,000 in 2022[3] - The company invested USD 1,614,000 (approximately RMB 11.1 million) in a bond fund issued by UBS (CAY) Fund Series in January 2020, with a face value of USD 1,600,000 and diversified income sources[5] - The company held approximately RMB 7.4 million in non-RMB denominated deposits as of December 31, 2023, down from RMB 10.2 million the previous year[113] - The fair value of CHINLP medium-term notes was RMB 21,012 thousand, accounting for 14.3% of total FVOCI and FVPL investments and 3.0% of the group's total assets[118] - The fair value of POLHON guaranteed notes was RMB 18,436 thousand, representing 12.5% of total FVOCI and FVPL investments and 2.6% of the group's total assets[118] - The fair value of NWDEVL medium-term notes was RMB 18,729 thousand, accounting for 12.7% of total FVOCI and FVPL investments and 2.7% of the group's total assets[118] - The group's non-listed debt investments are classified as financial assets at fair value through profit or loss, with fair value assessed by management or using other available methods[161] - The group holds a 2% equity stake in Yiming, a Chinese domain name service provider listed on the New Third Board, which accounted for 15.5% of the group's total assets as of December 31, 2023[156][157] - The group invested USD 3.783 million in NWD bonds with a 4.5% annual coupon rate, maturing in 10 years[175] - UBS Asian Bonds Series 5 (USD) has a yield of 5.0% and a duration risk of 1.0%, managed by a team with over 10 years of experience[177][178] - Future Capital, a non-listed limited partnership, holds a 1.8797% equity stake with a total investment cost of USD 1,452,197.91, focusing on smart systems and IT sectors[184][185] Corporate Governance and Compliance - The company maintains high standards of corporate governance to protect shareholder rights and enhance corporate value and accountability[26] - Yao Jianjun serves as both Chairman and CEO, with the board believing his dual role is beneficial for the company's business prospects[27] - The company regularly reviews and monitors its corporate governance practices to ensure compliance with the Corporate Governance Code[28] - All directors confirmed compliance with the standard code for securities transactions during the year ended December 31, 2023[29] - The audit committee reviewed the accounting policies and practices adopted by the group and the consolidated financial statements for the year ended December 31, 2023[23] - The company's auditor confirmed that the figures in the preliminary announcement match the draft consolidated financial statements for the year ended December 31, 2023[25] Game Development and Performance - The company's new games, particularly "Defend Radish 4" and "Immortal Taoism 3," contributed significantly to the improved financial performance[46] - "Defend Radish 4" showed strong performance in 2023, with new player-versus-player (PVP) features enhancing user engagement and driving growth in active users and user payment data[47] - The company launched three new games in 2023, including "Shen Xian Dao 3," which topped the Apple China App Store free chart and Bilibili game popularity chart on its release day[56] - The company plans to launch five new games in 2024, including HTML5 games, mobile games, and console games, while continuing to invest in existing games[63] - Game operations revenue increased by 13.6% to RMB 174.7 million in 2023, driven by the launch of "Shen Xian Dao 3" and the full-year contribution of "Defend Radish 4"[67][76] - RPG mobile game ARPPU decreased by 32.5% to RMB 53.7 in 2023 due to the early lifecycle stage of "Shen Xian Dao 3"[70][72] - Casual game ARPPU increased by 27.9% to RMB 25.9 in 2023, supported by frequent updates and new features in the "Defend Radish" series[70][72] - The company's RPG and online games had a cumulative registered user base of 234.8 million, with 173.3 million for online games and 61.5 million for mobile games[69] - Casual games recorded a cumulative download count of 711.9 million, while HTML5 games had 39.4 million registered users[69] - RPG mobile game MAU reached 0.1 million, and casual game MAU was 5.8 million in December 2023[69] - Average MPU for casual games increased by 28.5% to 316,000 in 2023, while RPG mobile game MPU grew by 25.3% to 94,000[70] - The company launched "Shen Xian Dao 3" on June 7, 2023, which was well-received in mainland China[66] - The company also released "Clear Sky Twins" and "Cube Hunter" in the second half of 2023, expanding its game portfolio[66] - The average MPU for mobile RPG games increased by 25.3% from 75,000 in 2022 to 94,000 in 2023, driven by the launch of "Immortal Tao 3"[94] - The average MPU for casual games increased by 28.5% from 246,000 in 2022 to 316,000 in 2023, due to attractive activities and content updates in "Defend the Radish 4"[94] Expenses and Cost Management - Sales and distribution expenses decreased by 7.3% from RMB 40.4 million in 2022 to RMB 37.5 million in 2023, primarily due to a reduction in promotional and advertising expenses from RMB 15.3 million to RMB 9.7 million[81] - R&D costs decreased by 16.6% from RMB 76.8 million in 2022 to RMB 64.1 million in 2023, mainly due to reduced outsourcing expenses from RMB 6.1 million to RMB 0.6 million and lower employee costs from RMB 67.0 million to RMB 61.2 million[82] - Cost of sales decreased by 15.0% from RMB 37.3 million in 2022 to RMB 31.7 million in 2023, primarily due to streamlined corporate structure and reduced employee costs[101] - Administrative expenses decreased by 15.2% from RMB 64.4 million in 2022 to RMB 54.6 million in 2023, mainly due to the absence of bad debt recognition for unrecoverable licensing fees[104] - R&D costs decreased by 16.6% from RMB 76.8 million in 2022 to RMB 64.1 million in 2023[96] - Income tax expenses decreased by 69.0% from RMB 1.2 million in 2022 to RMB 0.4 million in 2023, mainly due to changes in deferred tax expenses[107] - Other expenses decreased by 53.9% from RMB 8.6 million in 2022 to RMB 4.0 million in 2023, primarily due to reduced fair value losses on financial assets[106] - Research and development costs for the year ended December 31, 2023, were RMB 64.092 million, a decrease from RMB 76.847 million in the previous year[200] - Administrative expenses for the year ended December 31, 2023, were RMB 54.576 million, down from RMB 64.389 million in the previous year[200] - The company's sales and distribution expenses for the year ended December 31, 2023, were RMB 37.494 million, a decrease from RMB 40.444 million in the previous year[200] - The company's financing costs for the year ended December 31, 2023, were RMB 3.685 million, slightly lower than the RMB 3.968 million in the previous year[200] Cash Flow and Financial Position - Operating activities generated a net cash inflow of RMB 40,071 thousand, while investment activities resulted in a net cash outflow of RMB 43,693 thousand[112] - The net increase in cash and cash equivalents was RMB 24,365 thousand, with year-end cash and cash equivalents reaching RMB 160,678 thousand, a 20.7% increase from the beginning of the year[112] - Net current assets increased by 27.0% from RMB 112.9 million in 2022 to RMB 143.4 million in 2023, driven by cash inflows from operating activities[111] - Total equity increased to RMB 525.9 million as of December 31, 2023, up from RMB 456.5 million in 2022, driven by net profit and exchange rate differences[136] - Cash and cash equivalents totaled RMB 160.7 million as of December 31, 2023, up from RMB 133.2 million in 2022, mainly due to operating cash inflows[138] - Bank loans increased to RMB 95.5 million as of December 31, 2023, with RMB 6.0 million due within one year and RMB 64.7 million due after five years[139] - The company's financial assets, including debt and equity investments, amounted to RMB 147.0 million as of December 31, 2023, up from RMB 126.3 million in 2022[141] - The group's debt-to-asset ratio as of December 31, 2023, was 25.1%, compared to 27.0% as of December 31, 2022[166] - Net proceeds from the subscription in 2021 amounted to approximately HKD 119.1 million, which were fully utilized by December 31, 2023[168][169] - Net proceeds from the subscription of new shares by THL H Limited were allocated as follows: RMB 119.1 million for new product development, RMB 43.1 million for attracting suitable personnel, and RMB 45.4 million for increasing issuance and marketing budgets[190] Industry and Market Trends - The Chinese online game industry recorded a significant growth of 14.0% in total revenue in 2023, according to the "2023 China Game Industry Report"[55] - The company expects the operating environment for the Chinese online game industry to remain challenging in the first half of 2024, with intense competition for user time and generally low consumer sentiment[62] - The online gaming industry presents opportunities, particularly in the development of HTML5 games, and the company aims to remain flexible and efficient to capitalize on these opportunities[86] - In 2024, the company plans to expand the intellectual property (IP) of the "Defend the Radish" game series into new formats such as short videos, animation series, and music[87] - New World Group plans to launch over 2,500 residential units and continue selling premium office projects in the second half of 2024[176] Employee and Organizational Structure - The company had 8,300,000 unexercised share options as of the end of the reporting period, representing 0.47% of the issued shares[37] - The company did not recognize any share option expenses in 2023, compared to a reversal of RMB 1,906,000 in 2022[37] - Employee distribution: Development (190, 56.9%), Operations (70, 21.0%), Administration (59, 17.7%), Sales & Marketing (15, 4.4%), totaling 334 employees[170] - The company had 334 full-time employees as of December 31, 2023, with the majority located in Xiamen, Fujian Province, China[191] Risk Management and Future Outlook - The company faces risks such as potential disruptions to its network infrastructure or IT systems, intense competition in the mobile and online gaming industry, and challenges in retaining and attracting players due to changing preferences[83] - The company is actively investing in technology infrastructure to enhance player experience and game performance, while also managing and optimizing its existing game portfolio to attract and retain players[84] - The company is focusing on talent retention and development to maintain the competitiveness of its R&D and operational teams[85] - The group continues to seek new opportunities for business development[165] Other Income and Gains - Other income and gains increased by 37.9% to RMB 22.3 million in 2023, driven by a rise in investment income from RMB 1.5 million to RMB 7.2 million[80] - The company's other income and gains for the year ended December 31, 2023, were RMB 22.310 million, up from RMB 16.181 million in the previous year[200] Capital Expenditures and Investments - Capital expenditures for the year ended December 31, 2023, amounted to RMB 2.6 million, a decrease of 53.3% compared to RMB 5.6 million in the previous year, primarily due to reduced office leasehold improvements[188] - The company's investment policy mandates that at least 50% of total investments be allocated to risk-free or capital-protected products, with the remainder in low-risk products[142] - CLP Financing, a wholly-owned subsidiary of CLP Holdings, was established to raise funds for CLP Power, which supplies approximately 77% of Hong Kong's electricity consumption[146] - In July 2021, the group invested a cumulative amount of $2.883 million (approximately RMB 18.6 million) in bonds issued by Anye Global and guaranteed by Poly Real Estate, with a face value of $2.8 million, a coupon rate of 4.0%, and a 5-year maturity[147] - On January 23, 2020, the group invested $1.614 million (approximately RMB 11.1 million) in 16,000 units of UBS (CAY) Investment Fund Series - UBS Asian Bonds Series 5 (USD), with a target yield of 4.8% to 5.3% per annum and a maturity of 4.5 years[152] - According to UBS (CAY) Investment Fund Series' annual report for the year ended December 31, 2022, the sub-fund recorded a loss of approximately $60 million and a decrease in net asset value attributable to unit holders of approximately $80 million[153] - Future Capital recorded revenue of approximately $19,587 and a net increase in partner capital from operations of approximately $49.2 million for the year ended December

Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 17,907,000 (approximately 17.9 million), compared to RMB 11,524,000 for the same period in 2022, representing a year-on-year increase of 55.5%[3] - The group reported a pre-tax profit of RMB 6,770,000 for the first half of 2023, compared to RMB 7,283,000 in the same period of 2022, indicating a decrease of 7%[3] - For the six months ended June 30, 2023, the company's revenue was RMB 107,902 thousand, representing a 45.1% increase from RMB 74,343 thousand in the same period of 2022[107] - Gross profit for the same period was RMB 94,870 thousand, up 65.8% from RMB 57,206 thousand year-on-year[107] - The company reported a profit before tax of RMB 40,297 thousand, compared to a loss of RMB 6,947 thousand in the previous year, marking a significant turnaround[107] - The net profit attributable to the company's shareholders was RMB 40,262 thousand, a recovery from a loss of RMB 9,520 thousand in the prior period[107] - Basic and diluted earnings per share for the period were RMB 0.02, compared to a loss of RMB 0.01 per share in the same period last year[107] - The company reported a profit of approximately RMB 40.9 million for the six months ended June 30, 2023, compared to a loss of approximately RMB 7.8 million for the same period in 2022[173] - For the six months ended June 30, 2023, the profit attributable to the owners of the parent company was approximately RMB 40.3 million, a significant increase of 522.9% compared to a loss of RMB 9.5 million in the same period of 2022[175] Revenue Sources - Revenue from Tencent for cloud server services was RMB 1,519,000 for the six months ended June 30, 2023, compared to RMB 1,619,000 in the previous year[39] - Revenue from Tencent amounted to RMB 4,508,000 for the six months ended June 30, 2023, up from RMB 2,826,000 in the previous year[39] - Game operations revenue for the six months ended June 30, 2023, was approximately RMB 91.2 million, an increase of about 54.9% compared to RMB 58.9 million for the same period in 2022[155] - The company reported a total revenue of RMB 91,184 thousand, with RPG games contributing RMB 35,675 thousand (33.1% of total revenue) and casual games contributing RMB 47,806 thousand (44.3% of total revenue) in the first half of 2023[132] User Engagement and Market Trends - The company experienced a 2.4% year-on-year decline in the Chinese online gaming market, influenced by reduced user interest in paid online games due to the COVID-19 pandemic[110] - New game approvals in China have resumed, positively impacting the online gaming market and stimulating industry growth[110] - The company has focused on long-term value through continuous updates and new content for its game "Defend the Carrot 4," which has successfully maintained user engagement[111] - The company aims to enhance user engagement through various in-game promotions and regular updates for quality games[160] - The total registered users for RPG mobile and online games reached approximately 234.0 million as of June 30, 2023, with 173.2 million for online games and 60.8 million for mobile games[157] - Monthly Active Users (MAU) for RPG mobile and online games was approximately 1.8 million in June 2023, with mobile games accounting for 1.7 million MAU[157] Cost Management and Financial Position - Cash and cash equivalents as of June 30, 2023, amounted to RMB 134,094,000, an increase from RMB 133,153,000 as of December 31, 2022[24] - The total liabilities as of June 30, 2023, were RMB 37,450,000, a decrease from RMB 59,609,000 as of December 31, 2022[26] - The group’s cash and cash equivalents totaled approximately RMB 134.1 million as of June 30, 2023, a slight increase from RMB 133.2 million as of December 31, 2022, primarily due to cash inflows from operating activities[197] - The group’s current assets net value increased by approximately 25.1% to RMB 141.2 million as of June 30, 2023, compared to RMB 112.9 million as of December 31, 2022[196] - The company has a bank loan with a secured interest rate of 4.3% due in 2024, amounting to RMB 6,000,000[27] - The group had bank loans totaling approximately RMB 685 million as of June 30, 2023, down from RMB 700 million as of December 31, 2022, with a portion due within one year[178] Game Development and Launches - In the first half of 2023, the company launched the RPG mobile game "Xianxiandao 3," which quickly topped the Apple China App Store free chart and reached the 11th position on the best-selling chart[125] - The "Xianxiandao" series has attracted over 160 million users since its debut 12 years ago, indicating strong brand recognition and user engagement[125] - The company aims to optimize its recently launched games, including "Xianxiandao 3," "Defend the Carrot 4," and "Dougui," to expand the player base and enhance user engagement[128] - The company plans to explore opportunities to expand "Xianxiandao 3" and "Dougui" into overseas markets, adapting the games to fit different cultural preferences while retaining core gameplay elements[128] - The company continues to focus on long-term operations of its popular IP portfolio, including "Defend the Carrot" and "Xianxiandao," to lay a solid foundation for potential sequels[131] Investment and Financial Management - The company has a total of RMB 10,000,000 in fixed deposits as of June 30, 2023[47] - The company's internal investment management policy allows for at least 50% of total investments to be allocated to risk-free or capital-preserving investments, with the remaining 50% allocated to low-risk products[200] - The company maintains a diversified investment portfolio to mitigate risks, aligning with effective capital and investment management policies and strategies[200] - The fair value of non-listed equity investments is estimated using market-based valuation methods, with the board believing the derived fair value is reasonable and appropriate as of the reporting date[58] Research and Development - Research and development costs decreased by approximately 25.1% to RMB 27.6 million for the six months ended June 30, 2023, from RMB 36.9 million for the same period in 2022[169] Other Financial Metrics - The average monthly revenue per paying user (ARPPU) is calculated based on the average monthly revenue from virtual goods sales and upgrades divided by the average number of monthly paying users (MPU)[64] - Average Revenue Per Paying User (ARPPU) for mobile RPG games decreased by 55.3% to RMB 19.0 from RMB 42.5, attributed to the early lifecycle stage of "Xianxian Dao 3"[138] - The ARPPU for casual games increased by 63.5% to RMB 36.3 from RMB 22.2, mainly due to frequent updates and new features in the "Defend the Carrot" game series[138]

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，概不對因本公告 全部或任何部分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。 Feiyu Technology International Company Ltd. 飛魚科技國際有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1022） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 董事會欣然宣佈本集團截至二零二三年六月三十日止六個月的未經審核綜合 中期業績（「中期業績」），連同二零二二年同期的比較數字。 財務表現摘要 截至六月三十日止六個月 二零二三年 二零二二年 變動% （人民幣千元） （人民幣千元） （未經審核） （未經審核） 收益 107,902 74,343 45.1 毛利 94,870 57,206 65.8 除稅前溢利╱（虧損） 40,297 (6,947) (680.1) 母公司擁有人應佔期內溢利╱（虧損） 40,262 (9,520) (522.9) ...