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。 iDreamSky Technology Holdings Limited ࡋỖཙൠ、ᢰ᧗㛑ᴹ䲀ޜਨ （於開曼群島註冊成立的有限公司） （股份代號：1119） 截至2024年6月30日止六個月之中期業績公告 董事會欣然宣佈本集團以下截至2024年6月30日止六個月之未經審核綜合業績， 連同2023年同期未經審核比較數字。該等截至2024年6月30日止六個月之中期 業績已經審核委員會審閱。 財務表現摘要 | --- | --- | --- | |-------------------------------------|------------------------|----------------------| | | 截至 6 月 30 \n2024 年 | 日止六個月 \n2023 年 | | | 人民幣千元 | 人民幣千元 | | | （未經審核） | （未經審核） | | | | | | 收益 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company achieved a revenue of 1.916 billion yuan in 2023, a year-on-year decrease of 29.91%, but managed to narrow its net loss significantly to 453.38 million yuan, compared to a loss of 2.492 billion yuan in 2022, and reported an adjusted profit of 140 million yuan [2][3] - The revenue decline is attributed to the company's focus on high-quality games, leading to the discontinuation of non-core games, which resulted in a 26.95% year-on-year decrease in gaming operations revenue to 1.849 billion yuan [2] - The company has successfully reduced costs and improved efficiency, with a gross margin increase of 19.74 percentage points to 35.14% in 2023, driven by a focus on premium game operations and enhanced self-channel operations [2] - The company is optimistic about the long-term operation of existing games and the potential performance of new games, with the self-developed game "Kara Bichu" showing strong early engagement metrics [2][3] Summary by Sections Financial Performance - Total revenue for 2023 was 1.916 billion yuan, down 29.91% year-on-year, while adjusted profit turned positive at 140 million yuan [2] - The company expects revenue to rebound to 2.335 billion yuan in 2024, with a projected growth of 21.84% [3] - The net profit forecast for 2024 is 230.93 million yuan, with further increases expected in subsequent years [3] Earnings Forecast and Valuation - The EPS forecast for 2024, 2025, and 2026 is adjusted to 0.15, 0.32, and 0.38 yuan respectively, with corresponding P/E ratios of 18, 8, and 7 [3] - The report highlights the potential for earnings elasticity to be gradually realized as the new game cycle commences [3] Market Data - The closing price of the stock is 2.93 HKD, with a market capitalization of approximately 4.613 billion HKD [4] - The stock has a price-to-book ratio of 2.80 [4] Basic Data - The company has a net asset value per share of 1.05 yuan and a debt-to-asset ratio of 52.98% [5]

Financial Performance - Revenue for 2023 decreased to RMB 1,916,473 thousand, a decline of 26.1% compared to RMB 2,594,528 thousand in 2022[6] - Gross profit for 2023 was RMB 673,461 thousand, a significant increase from RMB 400,460 thousand in 2022, reflecting a 68.2% growth[6] - The company reported a net loss of RMB 456,830 thousand in 2023, an improvement from the net loss of RMB 2,521,578 thousand in 2022[6] - Adjusted net profit for 2023 was RMB 139,597 thousand, compared to an adjusted net loss of RMB 576,152 thousand in 2022[6] - Total assets decreased to RMB 3,707,673 thousand in 2023 from RMB 4,323,718 thousand in 2022, a decline of 14.2%[7] - Total liabilities reduced to RMB 1,964,446 thousand in 2023 from RMB 2,529,176 thousand in 2022, a decrease of 22.3%[7] - Total equity slightly decreased to RMB 1,743,227 thousand in 2023 from RMB 1,794,542 thousand in 2022[7] - Revenue for 2023 decreased by 26.1% to RMB 1,916.5 million compared to RMB 2,594.5 million in 2022[20] - Game revenue accounted for 96.5% of total revenue in 2023, down from 97.6% in 2022[21] - The company reported a net loss of RMB 560.8 million for 2023, compared to a net loss of RMB 2,589.9 million in 2022[19] - Adjusted net profit for 2023 was RMB 139.6 million, a significant improvement from the adjusted net loss of RMB 576.2 million in 2022[19] - Game revenue decreased by 27.0% from RMB 2,531.3 million in 2022 to RMB 1,849.1 million in 2023, contributing 96.5% and 97.6% of total revenue respectively[22] - Information service revenue increased from RMB 49.0 million in 2022 to RMB 61.8 million in 2023, driven by increased ad placements and higher fees charged to advertisers[23] - Revenue cost decreased by 43.3% from RMB 2,194.1 million in 2022 to RMB 1,243.0 million in 2023, with the cost-to-revenue ratio dropping from 84.6% to 64.9%[24] - Sales and marketing expenses decreased by 78.5% from RMB 1,074.8 million in 2022 to RMB 230.6 million in 2023, with the expense-to-revenue ratio dropping from 41.4% to 12.0%[25] - R&D expenses decreased from RMB 316.0 million in 2022 to RMB 240.0 million in 2023, with the expense-to-revenue ratio increasing from 12.2% to 12.5%[25] - Impairment loss on intangible assets decreased significantly from RMB 752.3 million in 2022 to RMB 23.2 million in 2023[25] - Net impairment loss on financial assets decreased from RMB 359.8 million in 2022 to RMB 232.3 million in 2023[26] - Fair value loss on financial assets measured at fair value through profit or loss decreased from RMB 83.2 million in 2022 to RMB 27.9 million in 2023[27] - Net finance costs increased from RMB 172.5 million in 2022 to RMB 289.8 million in 2023, mainly due to interest expenses and amortization cost adjustments related to convertible bonds[28] - Adjusted annual profit for 2023 was RMB 139.6 million, compared to an adjusted annual loss of RMB 576.2 million in 2022[30] - Adjusted EBITDA for 2023 was RMB 308.8 million, a significant improvement from a loss of RMB 277.5 million in 2022[36] - Cash and cash equivalents increased by 110.4% to RMB 190.4 million as of December 31, 2023, compared to RMB 90.5 million in 2022[37] - Total borrowings decreased to RMB 966.4 million in 2023 from RMB 1,011.2 million in 2022[37] - The company's debt ratio improved to 53.0% in 2023 from 58.5% in 2022[39] - Capital expenditure for 2023 was RMB 129.9 million, down from RMB 221.9 million in 2022[41] - The company's current ratio improved to 1.07 in 2023 from 0.87 in 2022[39] - Adjusted annual profit for 2023 was RMB 139.6 million, compared to a loss of RMB 576.2 million in 2022[35] - 62.2% of the company's total borrowings were secured by trade receivables, game intellectual property, and deposits as of December 31, 2023[40] - The company's capital-to-debt ratio improved to 57.3% in 2023 from 80.5% in 2022[39] - The company divested its IP derivative business in March 2023, with no other significant acquisitions or disposals during the year[42] - The company did not hedge any foreign exchange fluctuations for the years ended December 31, 2023, and December 31, 2022[43] - The company repurchased and canceled HKD 758 million of the 2025 convertible bonds, representing 97.8% of the total principal amount, leaving an outstanding principal of HKD 17 million[45] - The company issued HKD 386 million of 2028 convertible bonds with an initial conversion price of HKD 3.64 per share, which could convert into a maximum of 106,043,956 ordinary shares[45] - The company completed the placement of 164,177,200 ordinary shares at a price of HKD 3.10 per share, with a net price of HKD 3.02 per share[46] - The net proceeds from the placement and issuance of the 2028 convertible bonds amounted to approximately HKD 873 million, equivalent to RMB 797.88 million[47] - The company used RMB 684.89 million of the proceeds to repurchase the 2025 convertible bonds and RMB 112.99 million for general working capital[48] - The remaining principal amount of HKD 17 million of the 2025 convertible bonds was redeemed and canceled on October 16, 2023[48] - The company's stock closed at HKD 3.38 per share on the Hong Kong Stock Exchange on July 10, 2023[48] - Revenue from the top five customers accounted for 7.2% of the company's total revenue in 2023, with the largest customer contributing 5.4%[56] - The top five suppliers accounted for 67.7% of the company's total purchases in 2023, with the largest single supplier contributing 27.6%[57] - The company employed 797 employees as of December 31, 2023, a decrease from 1,048 in 2022, with total salary expenses (excluding share-based compensation) decreasing by 37.7% to RMB 225.9 million[58] - The company did not recommend paying a final dividend for the year ended December 31, 2023[55] - The company's total salary expenses (excluding share-based compensation) for the year ended December 31, 2023, were RMB 225.9 million, a 37.7% decrease compared to 2022[58] - The company's largest customer in 2023 was Tencent, which also became a major shareholder[56] - The company's total purchases from the top five suppliers increased significantly from 28.8% in 2022 to 67.7% in 2023[57] - The company's total salary expenses (excluding share-based compensation) decreased by 37.7% to RMB 225.9 million in 2023 compared to 2022[58] - The company did not have any distributable reserves as of December 31, 2023[60] - The company's total salary expenses (excluding share-based compensation) for the year ended December 31, 2023, were RMB 225.9 million, a 37.7% decrease compared to 2022[58] Game Performance and Development - Revenue from "Dream Garden" and "Dream Home" games surged by over 50% year-over-year in 2023, reaching a historical high since their launch[10] - "Subway Surfers" maintained its popularity in China, ranking high on the iOS free game charts and releasing 12 new versions in 2023[10] - The domestic version of "Mech Arena" debuted in January 2024, ranking 7th in the shooting category during the Spring Festival and receiving a 4.7 rating on the App Store[10] - "Kalpa of Universe" achieved a 60% increase in daily active users, 130% growth in new users, and a 10% improvement in player retention during its public beta[11] - "Kalpa of Universe" players spent an average of over 120 minutes daily, with a 20% participation rate in the new casual gameplay mode[11] - "Honor of All-Star" remained the top-ranked horizontal action RPG mobile game, releasing 7 major updates in 2023[11] - The company's long-term operational games, such as "Subway Surfers," "Dream Garden," and "Dream Home," demonstrated steady growth and strong user engagement[9] - The company transitioned from game publishing to self-development, with "Kalpa of Universe" being the first global 2D competitive shooting game[8] - The company's self-developed games, including "Kalpa of Universe," have established a multi-platform global shooting technology pipeline and 2D content pipeline[11] - The game "二之國：交錯世界" (Ni no Kuni: Cross Worlds) was officially launched in China on February 28, 2024, developed in collaboration with Netmarble, Tencent, and the company, leveraging the UE4 engine and featuring a rich fantasy creature system[12] - Overseas casual games accounted for 5.11% of the market in 2023, growing by 3.32% compared to 2022, making it the fastest-growing category[17] - The company plans to enhance the competitive potential of "Subway Surfers" by connecting single-player games online and organizing various tournaments to increase user engagement[17] - The company aims to launch the mobile version of "Calabiu" domestically in the second half of 2024 and expand globally with client, mobile, and console versions[17] - The company increased the update frequency of "Calabiu" to one season every two months, introducing new characters, maps, and lounges to maintain game appeal[17] - RPG remains the largest mobile game category globally, with the company focusing on innovative gameplay, regional themes, and global IP collaborations for "Honor of All-Stars" and "Mech Arena"[17] Fanbook and AI Integration - The company's Fanbook community platform enhanced user engagement and activity through AI tools and innovative applications[8] - Fanbook added over 10 million new users and 40,000 new communities by the end of 2023, with content creators generating over 2 billion exposures across platforms[13] - Fanbook integrated AI companionship capabilities, enhancing user engagement and retention, with over 300,000 creators participating in AI-driven content creation activities, producing over 1 million high-quality AI works[14] - The AI-driven character "星繪" (Xing Hui) in the "卡拉彼丘" (Calabiyau) community significantly enhanced user experience and engagement, becoming a memorable IP for players[14] - Fanbook's AI tools and modular operations improved efficiency, enabling the platform to support millions of users and enhance content creation and management for game developers[13] - The company is leveraging AI capabilities in the Fanbook community, introducing new AI companion features and an "AI Storybook Master" function for "Dream Garden"[17] Strategic Initiatives and Market Expansion - The company plans to expand into the Middle East market in 2024, starting with participation in the LEAP tech exhibition and signing a memorandum of understanding with a Saudi cloud computing company to promote gaming and esports in the region[16] - The company aims to strengthen global distribution, deployment, and R&D capabilities in 2024, focusing on both domestic and overseas markets to increase product penetration and global competitiveness[16] - The company streamlined operations by shutting down non-core businesses, optimizing organizational structure, and focusing on four independent business lines, leading to improved revenue quality and cost reductions[15] - The company's cost-saving measures and focus on core gaming businesses contributed to a robust increase in profitability and cash flow generation in 2023[15] - The company's operating cash flow increased significantly to RMB 253.0 million in 2023, up from RMB 93.9 million in the previous year, driven by core game revenue growth and cost optimization[15] Corporate Governance and Leadership - Executive Director Chen Xiangyu holds approximately 16.72% of the company's issued shares as of the annual report date[67] - Brilliant Seed Limited holds 236,599,922 shares, representing 15.02% of the company's equity[75] - Tencent Mobility Limited holds 249,141,192 shares, representing 15.82% of the company's equity[75] - iDreamSky Technology Limited holds 120,842,927 shares, representing 7.67% of the company's equity[75] - Dream Investment Holdings Limited holds 120,842,927 shares, representing 7.67% of the company's equity[75] - Dream Technology Holdings Limited holds 120,842,927 shares, representing 7.67% of the company's equity[75] - Chen Xiangyu holds 26,720,800 shares directly, representing 1.70% of the company's equity[75] - Guan Song holds 14,978,000 shares directly, representing 0.95% of the company's equity[71] - Gao Liandun holds 13,965,000 shares through controlled entities, representing 0.89% of the company's equity[71] - Yang Jialiang holds 912,000 shares directly, representing 0.06% of the company's equity[71] - Brilliant Seed is wholly owned by Mr. Chen, who is deemed to have an interest in the shares held by Brilliant Seed under the Securities and Futures Ordinance[76] - Tencent Mobility Limited is a wholly-owned subsidiary of Tencent Holdings Limited, which is deemed to have an interest in the shares held by Tencent Mobility Limited under the Securities and Futures Ordinance[77] - iDreamSky Technology Limited is wholly owned by Dream Investment Holdings Limited, which is wholly owned by Dream Technology Holdings Limited, with no shareholder holding one-third or more of the shares in Dream Technology Holdings Limited[77] - The maximum number of restricted share units under the Pre-IPO Restricted Share Unit Plan is 86,270,450, equivalent to 5.48% of the company's issued shares as of the annual report date[82] - In 2023, the company granted 700,000 restricted share units to Mr. Yang Jialiang, with a fair value of HK$4.00 per unit at the grant date[84] - The vesting schedule for the 700,000 restricted share units granted in 2023 is 30% in 2023, 30% in 2024, and 40% in 2025, based on performance evaluation[84] - As of December 31, 2023, the total number of unvested restricted share units under the Pre-IPO Restricted Share Unit Plan was 6,062,191[86] - The company adopted a new 10-year Share Incentive Plan in 2023, which allows the board to grant share options and/or restricted share units to eligible participants[88] - The 2023 Share Incentive Plan aims to recognize contributions, retain talent, and align the interests of participants with shareholders by providing ownership opportunities[89] - The maximum number of shares that can be granted to any participant under the 2023 Share Incentive Plan within any 12-month period is 1% of the issued shares as of the plan adoption date[90] - The 2023 Share Incentive Plan has a remaining validity period of over nine years, with a maximum of 28,207,966 shares available for future grants, representing 1.79% of the total issued shares as of the annual report date[91][92] - No share options or restricted share units were granted under the 2023 Share Incentive Plan during the year ended December 31, 2023, leaving 28,207,966 shares available for future grants[95] - The 2023 New Share Option Plan allows for the issuance of up to 56,415,933 shares, representing 3.58% of the total issued shares as of the annual report date[100] - During the year ended December 31, 2023, 8,880,000 share options were granted under the 2023 New Share Option Plan, with no options exercised, canceled, or lapsed during the period[104] - The 2023 New Share Option Plan aims to retain and incentivize employees, align their interests with shareholders, and attract talent for the company's development[97] - The vesting period for options under both the 2023 Share Incentive Plan and the 2023 New Share Option Plan must be at least 12 months[93][101] - The exercise price for options under the 2023 New Share Option Plan must not be lower than the higher of the closing price on the grant date, the average closing price over the preceding five trading days, or the nominal value per share[102] - No share options were granted to directors, senior management, or major shareholders under the 2023 New Share Option Plan during the year ended December 31, 2023[104] - The 2023 New Share Option Plan has a validity period of ten years from the adoption date, with over nine years remaining as of the annual report date[99] - The 2023 New Share Option Plan restricts any single participant from being granted options exceeding 1% of the total issued shares within a 12-month period[98] - The company repurchased a total of 1,130,800 shares on the Hong Kong Stock Exchange during the reporting period, with a total consideration (before expenses) of HKD 3,451,380[109] - The company granted a total of

传媒/游戏Ⅱ 公 司 研 创梦天地（01119.HK） 2023 年经调整净利润扭亏为盈，期待新游戏表现 究 2024年04月02日 ——港股公司信息更新报告 投资评级：买入（维持） 方光照（分析师） 田鹏（分析师） fangguangzhao@kysec.cn tianpeng@kysec.cn 日期 2024/3/28 证 书编号：S0790520030004 证书编号：S0790523090001 港 当前股价(港元) 2.560  2023年经调整净利润扭亏为盈，看好新游戏上线表现，维持“买入”评级 股 一年最高最低(港元) 4.440/1.350 公司2023年实现营业收入19.16亿元（同比-29.9%），实现归母净利润-5.56亿元 公 司 总市值(亿港元) 40.31 （亏损同比缩窄 77.68%），2023 年毛利率为 37.3%（同比+1.3pct），经调整净利 信 流通市值(亿港元) 40.31 润为 1.40 亿元（同比扭亏为盈）。2023H2 公司实现营业收入 7.95 亿元，（同比 息 总股本(亿股) 15.75 -41.22%，环比-29.06%），实现归母净利润-5.97亿元 ...

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,916,473, a decrease of 26% from RMB 2,594,528 in 2022[2] - Adjusted annual profit for 2023 was RMB 139,597, compared to a loss of RMB 576,152 in 2022, indicating a significant turnaround[2] - Revenue for the year ended December 31, 2023, decreased by 26.1% to approximately RMB 1,916.5 million compared to RMB 2,594.5 million in 2022[15] - Game revenue accounted for 96.5% of total revenue in 2023, amounting to RMB 1,849.1 million, down 27.0% from RMB 2,531.3 million in 2022[16] - The annual loss from continuing operations decreased from RMB 2,521.6 million to RMB 456.8 million, with adjusted annual profit for 2023 at RMB 139.6 million compared to an adjusted loss of RMB 576.2 million in 2022[26] - The company reported a net loss of RMB 560,818,000 for the year ending December 31, 2023[54] - The company incurred a net loss attributable to owners of RMB 556,347 thousand for the year, significantly improved from a loss of RMB 2,492,293 thousand in 2022[47] - The basic loss per share from continuing operations was RMB 0.32, an improvement from RMB 1.75 in the previous year[47] Game Performance - The games "Dream Garden" and "Dream Home" saw revenue increase by over 50% compared to the same period in 2022, achieving historical highs since their launch[4] - "Subway Surfers" maintained its popularity ten years post-launch, ranking among the top free games on iOS in mainland China, with 12 new versions released in 2023[4] - The newly launched domestic version of "Mecha Squad" achieved a ranking of seventh in iOS shooting category revenue during the Spring Festival period in 2024[4] - The company successfully launched 10 new versions of "Dream Garden" in 2023, introducing localized themes and a charity-themed version in collaboration with the China Animal Protection Association[4] - The self-developed game "Kara Bichu" achieved over 60% increase in daily active users during the public beta, with a year-on-year user growth of 130% and a player retention rate improvement of approximately 10%[6] - "Kara Bichu" became the first in multiple rankings, including the Bilibili reservation list and shooting category popularity index, and maintained a leading position on WeGame's hot new products list[6] - The game "Honor of Kings" maintained its position as the top horizontal action fighting RPG mobile game, with seven major updates in 2023, including a collaboration with a well-known domestic animation IP[7] User Engagement and Community - The community platform Fanbook has enhanced user engagement and interaction, contributing to the overall growth of the user base[3] - Fanbook community supported over 10 million users by the end of 2023, with more than 40,000 new communities created and overall content exposure exceeding 2 billion times[9] - The company emphasizes a user-centered approach and high-quality game operations as key competitive advantages in the gaming industry[3] - The AI tools deployed in the Fanbook community have attracted over 300,000 creators, generating more than 1 million quality AI works in the past year[9] - The introduction of AI capabilities in the Fanbook community aims to enhance user retention and expand commercial applications[12] Financial Health and Cash Flow - The company reported a significant increase in operating cash flow, with a net inflow of RMB 253.0 million in 2023, compared to RMB 93.9 million in the same period last year[10] - The company's cash and cash equivalents increased by 110.4% to approximately RMB 190.4 million as of December 31, 2023, up from approximately RMB 90.5 million in 2022[33] - Total borrowings decreased to approximately RMB 966.4 million in 2023 from RMB 1,011.2 million in 2022, with secured bank borrowings accounting for RMB 876.42 million[34] - The current ratio improved to 1.07 as of December 31, 2023, compared to 0.87 in the previous year, indicating better short-term financial health[33] - The debt ratio decreased to 53.0% in 2023 from 58.5% in 2022, reflecting a reduction in total liabilities relative to total assets[33] Cost Management and Expenses - Total revenue cost decreased by 43.3% year-on-year to RMB 1,243.0 million for the year ended December 31, 2023, with the percentage of revenue cost dropping from 84.6% to 64.9%[19] - Sales and marketing expenses fell by 78.5% to RMB 230.6 million, representing 12.0% of revenue, down from 41.4% in the previous year, due to improved customer acquisition efficiency[20] - Research and development expenses decreased from RMB 316.0 million to RMB 240.0 million, while the percentage of revenue increased slightly from 12.2% to 12.5%[22] - The total expenses for the year ended December 31, 2023, amounted to RMB 1,845,918 thousand, a significant decrease from RMB 4,445,327 thousand in the previous year[61] Strategic Initiatives and Future Plans - The company plans to expand "Kara Bichu" to multiple platforms, including consoles and mobile devices, enhancing its global reach[6] - The company plans to enter the Middle East market in March 2024, showcasing its game products at the LEAP technology exhibition[11] - The company will continue to focus on localization and global deployment of high-quality game IPs to expand its market presence[11] - The company plans to launch multiple versions of several games in 2024, which is expected to generate positive cash flow[55] - The company anticipates continued improvement in operating performance and cash inflows in 2024 due to established user loyalty and reduced advertising expenses[55] Corporate Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[89] - The audit committee reviewed the audited consolidated financial statements for the year ended December 31, 2023[92] - The figures in the performance announcement have been verified by the auditors against the audited consolidated financial statements[93] - The annual performance announcement and annual report will be published on the Stock Exchange and the company's website at an appropriate time[94] - The company is registered in the Cayman Islands and its shares are listed on the Hong Kong Stock Exchange (stock code: 1119)[96]

"DReamsky iDreamSky Technology Holdings Limited 创梦天地科技控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號：1119 2023 中 期 報 告 0 0 ♀ 圈子丨攻略分享 o 0 # 广场丨一起聊天 吃 直播丨直播频道 LD g o <0) 语音丨组队开黑 目錄 公司資料2 財務摘要4 主席報告5 管理層討論與分析9 企業管治╱其他資料 19 中期簡明綜合全面收益表 25 中期簡明綜合財務狀況表 27 中期簡明綜合權益變動表 29 中期簡明綜合現金流量表 30 中期簡明綜合財務資料附註 31 定義 59 ♀ 圈子丨攻略分享 # 广场 | 一起聊天 白 直播丨直播频道 Φ 语音丨组队开思 公司資料 | --- | --- | --- | |-------|--------------------------------------------|--------------------------------------------| | | 董事會 | 提名委員會 | | | 執行董事 | 陳湘宇先生 （主席） | | | 陳湘宇先生 （董事會主席及首席 ...

分组1 - The company expressed gratitude to shareholders, investors, and media for their long-term attention and support during the 2023 interim results announcement [1] 分组2 - No specific financial data or key metrics were provided in the content [1] 分组3 - No business line data or key metrics were mentioned [1] 分组4 - No market data or key metrics were discussed [1] 分组5 - No strategic direction or industry competition details were shared [1] 分组6 - No management commentary on the operating environment or future outlook was provided [1] 分组7 - No other important information was disclosed [1] 问答环节所有提问和回答 - No Q&A session details were included in the content [1]

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。 iDreamSky Technology Holdings Limited ࡋỖཙൠ、ᢰ᧗㛑ᴹ䲀ޜਨ （於開曼群島註冊成立的有限公司） （股份代號：1119） 截至2023年6月30日止六個月之中期業績公告 董事會欣然宣佈本集團以下截至2023年6月30日止六個月之未經審核綜合業績， 連同2022年同期未經審核比較數字。該等截至2023年6月30日止六個月之中期 業績已經審核委員會審閱。 財務表現摘要 | --- | --- | --- | --- | |---------------------------|-----------------------------------------|-----------------------------------------|--------------| | | 2023 年 \n人民幣千元 \n（未經審核） | 2022 年 \n人民幣千元 \n（未 ...

Financial Performance - Revenue for 2022 was RMB 2,734,124 thousand, showing a slight increase from RMB 2,637,637 thousand in 2021[10] - Gross profit for 2022 significantly decreased to RMB 421,200 thousand from RMB 1,103,341 thousand in 2021[10] - The company reported a net loss of RMB 2,589,917 thousand in 2022, compared to a net loss of RMB 155,930 thousand in 2021[10] - Total assets decreased to RMB 4,323,718 thousand in 2022 from RMB 6,610,940 thousand in 2021[11] - Total liabilities increased to RMB 2,529,176 thousand in 2022 from RMB 2,401,698 thousand in 2021[11] - Total equity dropped to RMB 1,794,542 thousand in 2022 from RMB 4,209,242 thousand in 2021[11] - Revenue for 2022 increased by 3.7% to approximately RMB 2,734.1 million compared to RMB 2,637.6 million in 2021[24] - Gross profit for 2022 was RMB 421.2 million, a significant decrease from RMB 1,103.3 million in 2021[23] - Operating loss for 2022 was RMB 2,391.96 million, compared to a loss of RMB 16.58 million in 2021[23] - The group recorded a net operating cash flow of approximately RMB 94 million for the year ended December 31, 2022[18] - Monthly net operating cash flow has been positive since October 2022, indicating improved financial health[18] - The company recorded a net loss of approximately RMB 2.59 billion for the year ended December 31, 2022[190] - As of December 31, 2022, the company's current liabilities exceeded its current assets by approximately RMB 330 million[190] - The total borrowings of the company amounted to RMB 1.011 billion, with cash and cash equivalents of approximately RMB 91 million as of December 31, 2022[190] - The company failed to comply with certain financial covenants related to a bank loan of EUR 59.8 million, potentially triggering immediate repayment or acceleration of other borrowings and convertible bonds[190] - The company's convertible bond holders have the right to require the company to redeem all or part of the bonds on October 16, 2023[190] - Annual net loss increased from RMB 155.9 million in 2021 to RMB 2,589.9 million in 2022, with an adjusted annual loss of RMB 642.9 million in 2022 compared to an adjusted annual profit of RMB 110.8 million in 2021[39] - Adjusted EBITDA decreased from RMB 390.6 million in 2021 to a loss of RMB 314.6 million in 2022[40][43] - Cash and cash equivalents decreased by 87.3% from RMB 714.8 million in 2021 to RMB 90.5 million in 2022[44] - Total borrowings decreased from RMB 1,350.4 million in 2021 to RMB 1,011.2 million in 2022, with secured bank loans accounting for RMB 991.2 million of the total in 2022[44][45] - The company reported a significant increase in impairment losses, including RMB 752.3 million for intangible assets and RMB 360.9 million for financial assets in 2022[43] - Depreciation and amortization expenses increased from RMB 233.3 million in 2021 to RMB 250.8 million in 2022[43] - The company's financial performance was significantly impacted by fair value losses on financial assets, totaling RMB 83.2 million in 2022[43] - The company's adjusted annual loss excludes various non-operational items, including share-based compensation, fair value changes, impairment provisions, and foreign exchange gains/losses[40][43] - Total revenue for 2022 was RMB 1,011,241 thousand, a decrease from RMB 1,350,430 thousand in 2021[46] - The company's current ratio decreased to 0.87 in 2022 from 2.42 in 2021[46] - Debt-to-asset ratio increased to 58.5% in 2022 from 36.3% in 2021[47] - Capital expenditure for 2022 was RMB 221.9 million, down from RMB 266.4 million in 2021[49] - Total borrowing secured by collateral was RMB 751.2 million, accounting for 74.3% of total borrowing in 2022[48] - Proceeds from share placement totaled RMB 349.23 million, fully utilized for game development and offline store expansion[52][53] - Proceeds from share subscription amounted to RMB 159.06 million, fully allocated to game R&D and offline store expansion[56][57] - The company's capital-to-debt ratio increased significantly to 80.5% in 2022 from 26.3% in 2021[47] - No major acquisitions, disposals, or investments occurred in 2022[50] - The company did not hedge any foreign exchange fluctuations in 2022[50] - The company acquired 70% of the issued shares of Tianjin Huohun Network Technology Co., Ltd. for a total consideration of RMB 1.05 billion, with goodwill recognized at RMB 989.23 million[59] - Tianjin Huohun's net profit during the performance assessment period was RMB 210 million, falling short of the target of RMB 300 million, leading to a compensation mechanism under the agreement[59] - The company received a cash compensation of RMB 315 million from the seller instead of acquiring the remaining 30% equity, resulting in an other income recognition of RMB 294.91 million[59] - Goodwill impairment losses for Tianjin Huohun were RMB 422.33 million, RMB 493.68 million, and zero for the years ending December 31, 2019, 2020, and 2021, respectively[59] - An additional goodwill impairment loss of RMB 73.22 million was recognized for the year ending December 31, 2022, due to underperformance of existing games and no new game development[60] - Revenue from the top five customers accounted for 8.7% of the company's total revenue for the year ending December 31, 2022, with the largest single customer contributing 3.5%[68] - The top five suppliers accounted for 28.8% of the company's total purchases for the year ending December 31, 2022, with the largest single supplier contributing 9.4%[69] - The company employed 1,048 employees as of December 31, 2022, with total compensation expenses (excluding share-based compensation) increasing by 32.3% to RMB 399.3 million[71] - The company did not recommend the payment of a final dividend for the year ending December 31, 2022[67] - The company's total goodwill impairment losses for Tianjin Huohun over the years 2019-2022 amounted to RMB 989.23 million, reflecting the challenges in achieving expected performance[59][60] Game Development and Performance - The company aims to achieve profitability in the 2023 fiscal year by focusing on cost reduction and efficiency improvement[12] - Key games such as "Dream Garden," "Dream Home," "Subway Surfers," and "Temple Run" continue to maintain millions of daily active users and stable revenue[12] - The company is enhancing its digital tools to improve game development granularity and pre-testing verification to enhance product certainty and player experience[12] - Despite challenges in 2022, the company has made significant progress in its long-term strategy of focusing on game development and innovation[12] - Subway Surfers achieved a peak daily active user count of over 10 million during the 2023 Spring Festival, with monthly active users exceeding 100 million[13] - In January 2023, over 30% of Subway Surfers users engaged in in-game chats and emojis, with total interactions surpassing 870 million and battle counts exceeding 1.25 billion[13] - Glory All-Star, a self-developed game, generated over RMB 1 billion in revenue in 2022, ranking first in its category[14] - The company plans to launch two self-developed games, "Karabiu" and "Ni no Kuni: Cross Worlds," in 2023, with "Ni no Kuni: Cross Worlds" expected to enter testing in Q2 2023[19] - The company obtained licenses for two self-developed games and plans to launch them in the second half of 2023[20] - Revenue from the gaming and information services business accounted for 94.9% of total revenue in 2022, while IP derivative business contributed 5.1%[24] - The company has integrated AI technologies like ChatGPT and Stable Diffusion into various aspects of game development and operations to improve efficiency[19] - Fanbook has established a user research community for "Karabiu," which has consistently ranked 1 on Bilibili's new game reservation chart[19] - Game revenue increased by 10.2% to RMB 2,531.3 million in 2022, accounting for 97.6% of total game and information services revenue[25] - Information services revenue decreased significantly to RMB 49.0 million in 2022, down from RMB 290.4 million in 2021[25][27] - Average monthly active users decreased to 124.0 million in 2022 from 128.0 million in 2021[26] - Average monthly paying users increased to 5.9 million in 2022 from 5.5 million in 2021[26] - Average revenue per paying user rose to RMB 36.4 in 2022 from RMB 34.2 in 2021[26][27] - IP derivative business revenue surged 281.4% to RMB 139.6 million in 2022[28] - Cost of revenue increased by 50.7% to RMB 2,312.9 million in 2022, representing 84.6% of total revenue[29] - Sales and marketing expenses rose 123.4% to RMB 1,138.7 million in 2022, accounting for 41.6% of revenue[30] - Intangible asset impairment losses increased significantly to RMB 752.3 million in 2022 from RMB 49.7 million in 2021[33] - Financial asset impairment losses increased to RMB 360.9 million in 2022 from RMB 20.6 million in 2021[34] - Net financial costs increased from RMB 70.0 million in 2021 to RMB 176.5 million in 2022, primarily due to a foreign exchange loss of RMB 52.4 million in 2022 compared to a foreign exchange gain of RMB 59.1 million in 2021[37] - The company recorded a tax expense of RMB 12.9 million in 2022, compared to a tax credit of RMB 25.3 million in 2021[38] - The company's core game business continues to grow steadily, with new game products set to launch, enhancing profitability and cash flow generation[18] - The company sold 27% equity of a subsidiary engaged in IP derivative business in February 2023, resulting in loss of control[151] - The company received RMB 150,000,000 in prepayments for game revenue sharing agreements, with RMB 139,000,000 already received as of March 2023[151] Corporate Governance and Leadership - The company's executive directors, including Chairman and CEO Chen Xiangyu, have service contracts with a term of three years, subject to re-election under the Articles of Association[77] - Chen Xiangyu, the founder and largest shareholder, holds approximately 18.39% of the company's total issued share capital as of the report date[81] - The company's senior management compensation for 2022 ranged between HKD 0 and HKD 10,000,000, with 5 individuals falling within this range[79] - Chen Xiangyu holds 26,720,800 shares directly, representing 1.89% of the company's equity, and 232,643,922 shares through controlled entities, representing 16.48% of the company's equity[84] - Guan Song, an executive director, holds 14,876,000 shares directly (1.05%) and 18,361,220 shares through controlled entities (1.30%)[84] - Gao Liandun, an executive director, holds 13,965,000 shares through controlled entities, representing 0.99% of the company's equity[84] - The company has not entered into any management contracts for the administration of its business during the fiscal year 2022[82] - No directors had any material interests in significant transactions, arrangements, or contracts involving the company or its subsidiaries during the reporting period[80] - The company's independent non-executive directors have confirmed their independence in accordance with Listing Rule 3.13[76] - The company's Remuneration and Assessment Committee reviews directors' compensation policies based on company performance, individual performance, and market practices[78] - Brilliant Seed holds 232,643,922 shares, representing 16.48% of the company's equity[90] - Tencent Mobility holds 249,141,192 shares, representing 17.65% of the company's equity[90] - Bank of America Corporation holds 196,960,947 shares, representing 13.96% of the company's equity[90] - iDreamSky Technology Limited holds 127,839,505 shares, representing 9.06% of the company's equity[90] - Yong Rong (Hong Kong) Asset Management holds 105,564,400 shares, representing 7.48% of the company's equity[90] - The restricted share unit plan allows for the issuance of up to 86,270,450 shares, representing 6.12% of the company's issued shares[96] - The restricted share unit plan has a duration of 10 years from the adoption date, with over 5 years remaining as of the report date[95] - The restricted share unit plan does not specify a vesting period, with actual vesting periods ranging from 12 to 48 months[97] - The company has not established any share option plans since its listing date[93] - No directors or senior executives have any rights to purchase shares or debentures of the company or any other corporate body[88] - The company repurchased a total of 9,932,000 shares on the Hong Kong Stock Exchange during the reporting period, with a total cost (before expenses) of HKD 38,895,987.51[104] - The highest purchase price per share was HKD 5.01 in June 2022, and the lowest was HKD 2.71 in April 2022[105] - The company granted 16,283,801 restricted share units to employees during the year, with 7,598,961 units vested and 1,582,769 units forfeited[101] - The weighted average closing price of shares immediately before the vesting of restricted share units was HKD 4.623 per share[102] - The company completed the issuance of 32,854,730 new shares on February 28, 2022, as part of a subscription agreement with related parties[107] - The company did not grant or vest any restricted share units to directors during the year[100] - The company's share repurchase plan reflects the board's confidence in the company's long-term business prospects and growth potential[104] - The company has no other non-exempt connected transactions under Chapter 14A of the Listing Rules during the reporting period[108] - The company has multiple ongoing connected transaction agreements with Tencent, a major shareholder[108] - The company's highest-paid individuals held 521,296 restricted share units as of December 31, 2022, with a vesting period of 0 to 4 years[101] - Shenzhen Dreamscape signed a three-year promotion cooperation framework agreement with Tencent Computer, effective from January 1, 2021, with annual caps for promotion service fees until December 31, 2023[110] - The promotion cooperation framework agreement aims to leverage Tencent's competitive advantages to enhance Dreamscape's promotion service business[111] - Dreamscape signed a three-year payment service framework agreement with Tencent Computer, effective from January 1, 2021, with annual caps for payment service fees until December 31, 2023[112] - The payment service framework agreement allows Dreamscape to provide Tencent's payment channels to its users, improving user satisfaction[114] - Dreamscape signed a three-year product and service purchase framework agreement with Tencent Computer, effective from January 1, 2021, with annual caps for procurement fees until December 31, 2023[116] - The product and service purchase framework agreement enables Dreamscape to access Tencent's cloud services and other technical products, reducing unnecessary expenses[117] - Dreamscape signed a one-year intellectual property cooperation framework agreement with Tencent Computer, effective from January 1, 2021, later revised on September 20, 2021, with adjusted annual caps for related fees until December 31, 2023[120] - The intellectual property cooperation framework agreement enhances Dreamscape's IP-related product development and operational capabilities, increasing market visibility and share[121] - The revised 2021 Intellectual Property Cooperation Framework Agreement constitutes a continuing connected transaction with an annual percentage ratio exceeding 0.1% but below 5% for the three years ending December 31, 2023[122] - The 2021 Game Cooperation Framework Agreement with Tencent Computer includes mutual payment of distribution and/or licensing fees, with revised annual caps for the three years ending December 31, 2023[123] - The QQfamily Cooperation Agreement with Tencent Tech allows the company to open 150 QQfamily-themed offline stores in China, including 7 flagship stores and standard stores, over the first three years[126] - The company is required to pay Tencent Tech a total of RMB 10.0 million over the first three years of the QQfamily Cooperation Agreement, with an additional deposit of RMB 0.3 million[127] - The QQfamily Cooperation Agreement is a continuing connected transaction with an annual percentage ratio exceeding 0.1% but below 5% for the five years ending December 31, 2026[129] - Tencent Group's payment to the company for promotion services was RMB 11,397 thousand, compared to the suggested annual cap of RMB 46,800 thousand[131] - The company's payment to Tencent Group for payment services was RMB 3,403 thousand, compared to the suggested annual cap of RMB 5,184 thousand[131] - The company's payment to Tencent Group

[0 -> 29] 仅拥有多款知名度高且大用户规模的游戏《梦幻花园》《梦幻家园》《地铁跑酷》和《神庙逃亡》都是长生命周期高活跃用户高用户粘性的经典产品上线都超过6年以上依然保持着千万级的日活用户数和稳定的收入在2022年 [30 -> 59] 我们游戏业务的月平均活用户超过1.2亿月付费用户数达到590万付费用户的up超过36元经过2022年的业务梳理我们将聚焦游戏和分Book两块业务基于分Book构建的社区为载体的云屿体平台在今年我们继续会加大 [60 -> 88] 跑酷和消除精英玩法的产业投入扩大跑酷和消除玩法的细分品类的优势地位并最大限度地利用分布可构建的社区运营机制利用好二次创作的裂变以及运营好现有的重量用户从而增强自身的竞争优势 [90 -> 114] 接下来我想详细地介绍几块业务的细节2022年游戏业务聚焦三大赛道专注自研和精品游戏运营地铁跑酷等精品游戏的基本盘持续在增长确保公司的稳定的资金经营性现金流 [115 -> 140] 其中我们地铁跑酷通过团队的多次迭代开发提升用户体验我们借助分部可与用户内容共创让这款已经超过10年的游戏重新获得高速增长春节期间地铁跑酷的DAU达到了2000万日活跃在此 ...