Company News - China Railway Construction (01186.HK) reported a new contract amount of approximately 1,056.17 billion yuan for the first half of the year, a year-on-year decrease of 4.04% [2] - China Metallurgical Group (01618.HK) announced a new contract amount of 548.2 billion yuan for the first half of the year, down 19.1% year-on-year [2] - Sichuan Chengyu Expressway (00107.HK) won the bid for the G5 Jingkun Expressway Chengdu to Ya'an section expansion project, with a total investment of approximately 28.548 billion yuan [2] - Road King Infrastructure (01098.HK) reported total property sales of 5.232 billion yuan for the first half of the year, a decrease of 28.37% year-on-year [2] - Amax Holdings (00880.HK) plans to acquire a property in Hengqin for 724.2 million yuan to diversify its business portfolio [2] - Chaoyue Eye Hospital (02219.HK) signed a construction contract for the first phase of its comprehensive medical facility project, with a contract value of 223 million yuan [2] - Bay Area Development (00737.HK) reported total toll revenue of 243 million yuan for June, a year-on-year decrease of 4% [2] - Decent Pharmaceuticals-B (06996.HK) received approval for its drug, Hivio®, for the second-line treatment of multiple myeloma in China [2] - Tianchen Holdings (01201.HK) plans to invest 30 million yuan to establish a joint venture in Shenzhen for new energy heavy truck charging stations [2] Performance Summary - WuXi AppTec (02359.HK) reported mid-year revenue of 20.799 billion yuan, a year-on-year increase of 20.64%, and a net profit of 8.561 billion yuan, up 101.92% year-on-year [3] Earnings Announcements - China Nonferrous Mining (01258.HK) issued a profit warning, expecting mid-term net profit of approximately 258 million USD, a year-on-year increase of about 18% [4] - Hualing Pharmaceutical-B (02552.HK) issued a profit warning, expecting mid-term net profit of approximately 1.184 billion yuan, turning from loss to profit [4] - Little Yellow Duck (02250.HK) issued a profit warning, expecting mid-term revenue to increase by over 30% year-on-year [4] - Qingci Games (06633.HK) issued a profit warning, expecting mid-term net profit to increase by approximately 78%-130% year-on-year [4] - Goodbaby International (01086.HK) issued a profit warning, expecting mid-term net profit to decrease by approximately 40%-50% year-on-year [4] - Qianhai Health (00911.HK) issued a profit warning, expecting mid-term net profit to decrease by approximately 60%-70% year-on-year [4] - Tianan Health (00383.HK) issued a profit warning, expecting mid-term net profit to decrease to approximately 7 million to 17 million HKD [4] - Pacific Network (00543.HK) issued a profit warning, expecting mid-term net loss of approximately 5 million to 15 million yuan [4] Buyback and Increase Dynamics - HSBC Holdings (00005.HK) repurchased 348,700 shares for approximately 35.487 million HKD at a price of 101.4-102 HKD [3] - China Eastern Airlines (00670.HK) repurchased 2.5 million shares for approximately 7.4983 million HKD at a price of 2.97-3.03 HKD [3] - Founder Holdings (00418.HK) canceled a total of 17.9962 million shares that had been repurchased [3]

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之內容概不負責，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。 Qingci Games Inc. 青瓷游戲有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6633） 有關截至 2025 年 6 月 3 0 日止六個月 之財務資料的 盈利預喜 本公告乃由青瓷游 戲 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09(2)條及香港法例第571章《證 券 及 期 貨 條 例》第XIVA部 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 根據對本集團截至2025年6月30日 止 六 個 月（「報告期間」）未 經 審 核 管 理 賬 目 的 初 步 審 閱 及 本 公 司 董 事 會（「董事會」）目 前 可 得 資 料，董 事 會 謹 此 告 知 本 公 司 股 東（「股 東」）、投 資 者 及 有 意 投 資 者，本 集 團 ...

Group 1 - The core idea of the article is to highlight the innovative ESG practices of Qingci Games, which integrates public welfare into gaming, creating a new path that combines social warmth with commercial sustainability [2][10]. - Qingci Games has developed a unique model that transforms virtual actions in games into real-world charitable contributions, enhancing player engagement and providing new funding sources for public welfare [3][9]. - The company focuses on various social issues, including child welfare, special needs support, environmental protection, and the preservation of intangible cultural heritage, demonstrating a deep understanding of societal needs [3][5]. Group 2 - Qingci Games has established a comprehensive ESG management system, aiming to become a leading game company recognized for its ESG practices, focusing on responsible operations, green initiatives, employee care, and social contributions [10][11]. - The company has received over 20 industry awards in 2024 alone, showcasing its commitment to ESG principles and its recognition within the gaming industry [12]. - The recent award for "ESG Innovation Practice Excellence" reflects the capital market's recognition of Qingci Games' ESG strategy and its sustainable development capabilities [12][14].

Qingci Games Inc. 青瓷游戲有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6633） 提名委員會職權範圍 （經董事會於2021年11月18日採納並於2025年6月6日修訂） 1. 組 成 1.1. 提 名 委 員 會（「委員會」）乃 於2021年 根 據 青 瓷 遊 戲 有 限 公 司（「本公司」）董 事 會（「董事會」）於2021年11月18日 舉 行 的 會 議 通 過 之 決 議 案 成 立，其 職 權 範 圍亦於該會上獲批准及採納。委員會之權力、責任及具體職責概述如下。 4.1. 本公司的公司秘書或其代名人將為委員會的秘書。 4.2. 委員會的秘書須確保備存所有會議的完整會議記錄。 2. 責 任 2.1. 委員會將檢討董事會的組成，並就委任董事的程序及標準提出建議，以及 對董事會所採納程序及標準予以落實。 3. 成 員 1 3.1. 委員會至少須由三(3)名 董 事 會 不 時 委 任 的 董 事 組 成，其 中 獨 立 非 執 行 董 事須佔大多數，且至少一名成員須為不同性別。 3.2. 董 事 會 須 指 定 董 事 會 的 主 席 或 一 名 獨 立 非 執 行 董 事 ...

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之內容概不負責，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。 本公司的香港證券登記分處香港中央證券登記有限公司獲委任為股東週年大會點 票的監票員。董事楊煦先生、黃智強先生、劉斯銘先生、曾祥碩先生、林誠光教授、 袁 淵 先 生 及 方 煒 瑾 女 士 出 席 了 股 東 週 年 大 會。於 股 東 週 年 大 會 上 提 呈 的 決 議 案 的 投票結果如下： | | 普通決議案 | 投票數目(%) | | | --- | --- | --- | --- | | | | 贊 成 | 反 對 | | 1. | 省覽及採納截至2024年12月31日止年度之經審 | 480,494,049 | 0 | | | 核綜合財務報表及董事會報告及核數師報告。 | (100%) | (0%) | | 2. | (a) 重選劉斯銘先生為本公司執行董事； | 480,494,049 | 0 | | | | (100%) | (0%) | | | (b) 重選曾祥碩先生為本公司執行董事； ...

Core Insights - Qingci Games Limited has officially surpassed 100 million registered players globally, marking a significant milestone in its efforts within the global gaming market [1][3] - The company has successfully established its influence in the global gaming sector through a strategy focused on high-quality and personalized products [1] Group 1: Company Achievements - Since its establishment in 2012, Qingci Games has created several popular games characterized by innovative gameplay and distinctive artistic styles, referred to as "Qingci Style" by players [3] - The self-developed game "Unusual Maze," launched in 2016, has been pivotal in leading the domestic Rogue-like mobile game trend, being recognized as a must-play title in the genre [3] - The game "The Strongest Snail," released in 2020, has generated approximately RMB 3.629 billion in revenue by the end of 2024, achieving high rankings in various regions including Hong Kong, Taiwan, Japan, North America, Southeast Asia, Australia, and Europe [3] Group 2: Global Strategy and Operations - The company has strengthened its core competitiveness by integrating research and operations, with overseas revenue accounting for over 40% of total income [3] - Qingci Games has established offices in regions such as mainland China, Australia, Japan, and South Korea to enhance user engagement and solidify player communities [3] Group 3: Future Developments - The company is currently developing an original game titled "Project E," which combines elements of map exploration, backpack management, and resource collection, aiming to set new industry trends [4] - Qingci Games is embracing technological advancements by integrating AI tools to improve operational efficiency and support industrial development [4] - The CEO expressed gratitude for the support from global players and emphasized the commitment to delivering engaging and culturally rich gaming experiences in the future [4]

Financial Performance - Total revenue for 2024 reached RMB 627.96 million, a decrease of 31% compared to RMB 905.74 million in 2023[6] - Gross profit for 2024 was RMB 363.12 million, down 35% from RMB 557.88 million in 2023[6] - Net profit attributable to equity holders was RMB 51.12 million, reversing a loss of RMB 37.37 million in the previous year[6] - The group reported a revenue of RMB 628 million for the reporting period, a decrease of 31% compared to the previous year, but achieved a profit of approximately RMB 51.12 million, reversing last year's loss[20] - The company's revenue for the year ending December 31, 2024, is projected to be approximately RMB 628.0 million, a decrease of 30.7% compared to RMB 905.7 million for the year ending December 31, 2023[32] - Game operation revenue is anticipated to decrease by 32.1% to approximately RMB 593.4 million for the year ending December 31, 2024[34] - Revenue from self-developed games is expected to decline by 28.1% to approximately RMB 365.2 million, primarily due to decreased income from "The Strong Snail" in various regions[37] - Revenue from licensed games is projected to decrease by 37.6% to approximately RMB 228.3 million, mainly due to reduced income from "New Sword and Fairy" and "Cardcaptor Sakura" in mainland China[37] User Metrics - Average Monthly Active Users (MAU) decreased by 5% to 2.36 million from 2.48 million in 2023[7] - Average Monthly Paying Users (MPU) dropped by 43% to 228,000 from 401,000 in 2023[7] - As of December 31, 2024, the total registered players reached 98.28 million, an increase of 11.24% year-on-year, while monthly active users decreased by 4.82%[21] - The average monthly paying users dropped by 43.24% to approximately 227,800, with ARPPU at RMB 265, down 12.16% year-on-year[21] - The player community has grown to 15.8427 million, an increase of 18.59% year-on-year[29] Game Performance - Revenue from the flagship self-developed game "The Strongest Snail" reached approximately RMB 340 million during the reporting period[11] - Cumulative revenue for "The Strongest Snail" exceeded RMB 3.629 billion since its launch, with over 29.05 million registered players[11] - The game "Lantern and Dungeon" saw a 43% revenue increase compared to the previous year following a major content update[12] - "New Legend of Sword and Fairy" recorded revenue of approximately RMB 976 million and topped the iOS free game chart after its launch[24] - "Magic Card Girl Sakura: Memory Key" achieved revenue of approximately RMB 229.9 million and reached the top of the iOS free game chart in multiple regions[25] - "Fat Goose Gym" generated revenue of approximately RMB 597.4 million and topped both iOS and Google Play free game charts in Japan[25] Strategic Initiatives - The company plans to expand its global footprint while enhancing the innovation and quality of self-developed games[10] - The company aims to address rising user acquisition costs and increasing player standards in the competitive gaming market[9] - The group is focusing on the development of "Project E," an innovative SLG game expected to expand testing in 2025, aiming to set new milestones for self-developed games[19] - The company plans to continue refining and actively advancing game reserves for testing and launch both domestically and internationally, with new titles like "Project W" and the Korean version of "The Strong Snail" expected to launch in 2025[31] Cost Management - The cost of revenue is expected to decrease by 23.9% to approximately RMB 264.8 million for the year ending December 31, 2024, down from RMB 347.9 million in 2023[38] - Commissions paid to distribution and payment channels are projected to decrease by 22.3% to approximately RMB 137.8 million, reflecting a reduction in game operation revenue[39] - Sales and marketing expenses reduced by 49.7% from approximately RMB 429.2 million for the year ended December 31, 2023, to approximately RMB 216.0 million for the year ended December 31, 2024, primarily due to decreased spending on certain game titles[43] Governance and Compliance - The company has established a financial risk management policy, which is detailed in the consolidated financial statements[71] - The company complies with various Chinese laws and regulations related to game publishing and operation, including but not limited to telecommunications services, game review, and privacy protection[78] - The company has a structured board with various committees, including a remuneration committee, audit committee, and nomination committee, as detailed in the corporate governance report[79] - The independent non-executive directors confirmed that the ongoing connected transactions are conducted in the ordinary course of business and on normal commercial terms[126] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to promoting a sustainable and environmentally friendly environment, implementing effective measures for resource utilization and waste reduction[77] - The company aims to become a recognized leader in ESG practices within the gaming industry, focusing on four key areas: Responsible Operations, Green Operations, Employee Care, and Social Contribution[181] - The company has set a target to achieve 100% compliance in waste disposal by 2030, emphasizing its commitment to environmental sustainability[181] - The company has established a clear and effective governance mechanism for ESG management, recognizing the benefits of board diversity in member nominations[178] Regulatory Compliance for Minors - The company has implemented a real-name registration system requiring players to use valid identity information for account creation, with non-verified players unable to log in to games[200] - Players under the age of eight are prohibited from making in-game purchases, and there are restrictions on gaming time for minors, allowing only 1 hour per day on specified days[200] - The company has strengthened user identity verification requirements to limit and manage gaming behavior of underage users, including playtime and spending limits[196] - The company adheres strictly to national laws and regulations regarding the prevention of minors' addiction to online games, implementing various measures to mitigate this issue[195]

在中国游戏产业深度转型的"双重变奏"中，战略演进路径愈发清晰，存量市场用户的价值深耕与全球增量空间的开拓 形成协同演进。这在政策红利释放以及市场需求增强的驱动下，也正不断推动行业迈进高质量、可持续发展阶段。 例如，近日《提振消费专项行动方案》明确将游戏产业纳入政策支持领域，行业政策导向愈发清晰，鼓励传统文化赋 能、原创IP培育及全产业链消费延伸，为市场注入新的增长动能。 产业基本面数据印证了这一趋势。游戏玩家数量、ARPU值等多项数据均创下新高，玩家的游戏意愿与消费力均有不同 程度的增强。 《中国游戏产业报告》数据显示，2024年国内游戏市场规模突破3257.83亿元，同比增长7.53%；用户规模约为6.74亿， 同比增长0.90%；用户ARPU值同比提升6.73%至485.52元。 图：中国游戏市场实际销售收入，以及中国整体市场 APRU 值 数据来源：中国游戏产业报告 并且，供给侧改革同步深化，各大游戏厂商都具有较多的游戏储备，特别进入2025年后，前两个月分别发放国产游戏 版号123款和110款，进口游戏分别发放13款和3款，展现出行业创新活力的加速迸发。 图：游戏版号发放情况 数据来源：中原证券 青瓷 ...

Core Viewpoint - Qingci Games has demonstrated resilience in a competitive gaming industry by establishing a clear product matrix and expanding its overseas business, solidifying its position among emerging game developers [1][8]. Financial Performance - In 2024, Qingci Games achieved total revenue of approximately 630 million yuan and gross profit of about 360 million yuan, despite a decline due to the maturity of main products. However, overseas business growth significantly contributed to a second growth curve, with overseas revenue share rising from 28.47% in 2023 to 43.93% in 2024 [2]. - The company reported a net profit of 47.128 million yuan, a substantial turnaround from a loss of 37.6 million yuan in 2023, marking a year-on-year change of 225% [2]. - As of the end of 2024, the total registered players reached nearly 98.28 million, a year-on-year increase of approximately 11.24%, driven by new game launches and global expansion [2]. Product Strategy - Qingci Games is in a critical transition phase between old and new products, actively transforming challenges into growth opportunities by iterating and optimizing main products and expanding mature products into overseas markets [3]. - The company is implementing a "premium + globalization" dual strategy, systematically building a tiered product matrix that includes incubation, growth, and maturity phases [4]. Key Products - The core product "The Strongest Snail" remains a cash cow, with cumulative registered users reaching 29.05 million and generating approximately 3.4 billion yuan in revenue [4]. - Other notable products include "Endless Adventure," "Ares Virus," and "BloodAge," which collectively generated 26.01 million yuan in revenue [4]. - New games such as "Ares Virus 2" and "New Sword and Fairy" have also shown strong performance, with revenues of 23.5 million yuan and 96.33 million yuan respectively [5]. Global Expansion - Qingci Games has successfully expanded its global footprint, with overseas revenue exceeding 40% in 2024, becoming a key driver of overall growth [6]. - "The Strongest Snail" has seen significant success in international markets, including Japan and Vietnam, where it topped the iOS free download charts [7]. Future Outlook - The management emphasizes a focus on "premium + globalization" as the key to future growth, with plans to enhance global capabilities and continue developing existing games for international markets [9]. - The company is also investing in AI technology to improve game development efficiency and user experience, indicating a commitment to innovation in the gaming industry [13].

2024 年，青瓷游戏积极应对行业发展新趋势，优化发展战略，更聚焦于产品质 量，提升运营效率，为未来的规模化发展奠定扎实基础。集团持续迭代现有游 戏，其中自研游戏《最强蜗牛》自 2020 年 6 月在内地上线以来，截至 2024 年 底累计流水达到人民币 36.29 亿元，累计注册玩家约 2,905 万。报告期内，该 • 《最强蜗牛》累计流水达 36.29 亿元，注册玩家约 2,905 万，2024 年境内 收入 3.4 亿元，并通过联动活动保持用户活跃度。该游戏已陆续在海外多 地上线，并计划发布升级版本和五周年庆内容，有望进一步提升收入。 • 长线运营游戏表现稳健，《地下城与勇士》联动哪吒版本收入同比增长 43%至 1,359 万元，《新仙剑奇侠传之挥剑问情》在东南亚登顶，收入 9,760 万元，《魔卡少女樱回忆钥匙》周年庆收入 2,300 万元，并计划拓 展越南及日本市场。 • 2024 年青瓷游戏总收入 6.28 亿元，同比下降 31%，但成功扭亏为盈，录得 盈利 5,112 万元。海外收入占比显著提升至 44%，达 2.8 亿元，表明全球 化战略初见成效。销售和营销开支大幅减少近 50%，研发投入保持 ...