Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 620,342 thousand, a decrease of 24.9% compared to RMB 826,057 thousand in 2022[2] - Gross profit for the same period was RMB 412,614 thousand, down 28.0% from RMB 572,745 thousand in 2022[2] - The company reported a loss of RMB 80,944 thousand for the period, which is a 10.9% increase from a loss of RMB 72,962 thousand in 2022[2] - Adjusted loss for the period was RMB 77,911 thousand, reflecting a 33.3% increase from RMB 58,461 thousand in the previous year[2] - The group reported a total revenue of approximately RMB 620.3 million, a decrease of 24.9% compared to the same period in 2022[172] - The net loss for the period was approximately RMB 80.9 million, compared to a net loss of RMB 73.0 million in the same period of 2022[172] - Adjusted net loss for the period was approximately RMB 77.9 million, compared to an adjusted net loss of RMB 58.5 million in the same period of 2022[172] Revenue Sources - Domestic market revenue was RMB 442.5 million, accounting for 71.4% of total revenue, while overseas market revenue was RMB 177.6 million, accounting for 28.6%[69] - The group's revenue from gaming activities decreased by 24.9% year-on-year, primarily due to the natural decline in income from older products[84] Cost Management and Operational Strategy - The decline in revenue was primarily due to the normal decline in earnings from older games as they reached the end of their life cycle[4] - The company plans to enhance cost management and implement measures for personnel optimization and project management to stabilize operations[10] - The group experienced a net cash outflow from operating activities of RMB 42.997 million for the six months ended June 30, 2023, compared to RMB 30.938 million for the same period in 2022[74] Game Development and User Engagement - New game features and seasonal events were introduced to improve user experience and engagement, such as the new pet companion "Moonlight Rabbit" and elegant costumes inspired by traditional Chinese culture[6] - The company aims to strengthen the exploration of new user acquisition channels while providing precise services to retain existing users[10] - The group maintains a high frequency of updates and content optimization for its games, ensuring at least one update per month for key titles[168] - The group actively invests in R&D, focusing on AIGC technology to enhance game interaction and marketing materials, aiming to reduce costs and improve efficiency[165] Share Incentive Plan - The group granted a total of 2,152,000 restricted shares to 5 eligible employees under the share incentive plan, with a fair value of HKD 0.96 per share[82] - The share incentive plan was approved by the board on September 14, 2020, to enhance the company's competitiveness[107] - The share reward plan allows for the issuance of a total of 16,000,000 reward shares to employees, effective from January 5, 2022[153] - The share rewards granted to employees are free of charge, with a vesting period ranging from 1 month to 37 months[115] Corporate Governance and Compliance - The financial report was prepared in accordance with the Hong Kong Financial Reporting Standards and is unaudited, with a review conducted by an independent auditor[24] - The company has established an audit committee in compliance with Listing Rule 3.21 and Corporate Governance Code[139] - The board believes that the current dual role of the chairman and CEO enhances policy continuity and operational efficiency[102] Future Outlook and Strategic Focus - The company plans to increase investment in game development, publishing, and operational talent, focusing on new technologies such as AIGC to enhance global competitiveness[200] - The company aims to create a more diverse and innovative product portfolio by launching new games of different styles while ensuring the long-term operation of existing games[200] - The company aims to expand its presence in overseas markets while maintaining a leading position in the domestic female market[164] Social Responsibility and Sustainability - The company actively integrates environmental, social, and governance issues into its management framework, promoting sustainable development practices[44] - The company is committed to corporate social responsibility and has implemented policies to enhance employee awareness of environmental issues[44]

Financial Performance - The company reported a revenue of HKD 1.2 billion for the first half of 2022, representing a year-over-year increase of 15%[6] - Total revenue for the six months ended June 30, 2022, was approximately RMB 826.1 million, a decrease of 0.8% compared to RMB 833.0 million in the same period of 2021[24] - The company's revenue for the six months ended June 30, 2022, was approximately RMB 826.1 million, a decrease of about RMB 6.9 million or 0.8% compared to RMB 833.0 million in the same period of 2021[38] - Game revenue accounted for 99.9% of total revenue, with RMB 825.6 million, down 0.9% from RMB 833.0 million in the previous year[38] - Revenue from the mainland China market was RMB 616.5 million, representing 74.7% of total game revenue, an increase of 3.2% from RMB 597.6 million in 2021[39] - The overseas market generated RMB 209.1 million, accounting for 25.3% of game revenue, a decrease of 11.2% from RMB 235.4 million in the previous year[39] - Revenue from self-developed games was RMB 793,968,000, compared to RMB 806,899,000 in the previous year, indicating a decline of about 1.6%[142] - The company reported a net loss of approximately RMB 73.0 million for the six months ended June 30, 2022, a decrease of RMB 203.3 million compared to a profit of RMB 130.3 million in the same period of 2021[47] - The company reported a net loss of RMB 72,962 thousand for the six months ended June 30, 2022, compared to a profit of RMB 130,291 thousand in 2021[118] Research and Development - The company is investing HKD 200 million in R&D for new technologies aimed at enhancing user experience[7] - The company continues to invest heavily in R&D, focusing on core talent, tool iteration, and new technology exploration[28] - R&D expenses decreased by 5.1% to approximately RMB 169.1 million compared to RMB 178.2 million in the previous year[43] - Research and development expenses amounted to RMB 169,112 thousand, slightly down from RMB 178,181 thousand in the previous year[117] Market Expansion and Strategy - User base grew to 5 million active users, an increase of 20% compared to the previous year[7] - The company expects revenue growth to continue at a rate of 10-15% for the next fiscal year[7] - New product launches are anticipated to contribute an additional HKD 300 million in revenue by the end of 2022[7] - Market expansion plans include entering three new countries by the end of 2023, targeting a 25% increase in international sales[7] - The company plans to implement a new marketing strategy with a budget of HKD 100 million to increase brand awareness[7] Financial Position - Total assets as of June 30, 2022, were RMB 1,471.2 million, down from RMB 1,806.7 million in 2021[25] - Total liabilities were RMB 85.7 million, compared to RMB 60.3 million in the previous year[25] - The group had a current ratio of approximately 0.06 as of June 30, 2022, down from 0.09 at the end of 2021, indicating a decrease in liquidity[49] - The debt-to-asset ratio was 0.04% as of June 30, 2022, compared to 0.07% at the end of 2021, with no bank borrowings reported[56] - As of June 30, 2022, the group had cash and cash equivalents of approximately RMB 383.2 million, down from RMB 774.2 million at the end of 2021[49] Shareholder Returns - The board has approved a dividend payout of HKD 0.05 per share, reflecting a commitment to returning value to shareholders[6] - The company declared dividends amounting to RMB 43,067 thousand during the period[131] - The company paid dividends amounting to RMB 223,808,000, slightly higher than RMB 214,700,000 in the previous year[133] - The company has not declared any interim dividends for the six months ending June 30, 2022[76] Employee and Management Information - The group employed 1,208 staff as of June 30, 2022, a decrease from 1,362 employees at the end of 2021, reflecting a reduction in workforce[58] - Total compensation for key management personnel amounted to RMB 4,513,000 for the six months ended June 30, 2022, compared to RMB 9,179,000 for the same period in 2021, reflecting a decrease of approximately 50.8%[188] - The company has established a share incentive plan to reward and retain key employees, with a total of 80,000,000 shares allocated for this purpose[175] Acquisitions and Investments - The company has completed a strategic acquisition of a local tech firm for HKD 500 million to enhance its product offerings[7] - The company raised approximately RMB 434.0 million from its initial public offering, with a remaining balance of RMB 19.1 million as of June 30, 2022[72] - The company plans to utilize the remaining IPO proceeds according to the disclosed purposes and proportions in the prospectus[72] Governance and Compliance - The company has complied with the corporate governance code, except for a deviation regarding the separation of roles between the chairman and CEO[73][74] - The company has established sufficient power balance and appropriate safeguards within its governance structure[74] - The board has established an audit committee, which reviewed the unaudited interim financial statements for the six months ending June 30, 2022[77]

Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year 2021, representing a year-over-year increase of 15%[1] - Total revenue for 2021 was RMB 1,616,137, a decrease of 26% compared to RMB 2,182,257 in 2020[28] - Gross profit for 2021 was RMB 1,089,428, down from RMB 1,468,345 in 2020, reflecting a gross margin of approximately 67.4%[28] - Adjusted net profit for 2021 was RMB 308,956, compared to RMB 503,519 in 2020, indicating a decline of 38.6%[28] - The annual net profit was approximately RMB 275.5 million, representing a decrease of about 45.3% year-on-year[34] - The total revenue for the year ended December 31, 2021, was approximately RMB 1,616.1 million, a decrease of about 25.9% compared to the previous year[34] - The decline in revenue and net profit was primarily due to the absence of major new product launches and the normal decline in revenue from older products[34] User Engagement and Market Expansion - User data showed an increase in active users to 5 million, up 20% from the previous year[1] - New product launches included a mobile application that increased user engagement by 30%[1] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[1] - The company aims to expand its global strategy and enhance its position in the mobile gaming market, particularly in the female-oriented segment[30] - The company is focusing on the female-oriented gaming market, with ongoing development of new game types to meet diverse market demands[33] Research and Development - Research and development expenses increased by 12% to support new technology initiatives[1] - Research and development expenses rose by 37.9% to approximately RMB 364.9 million, primarily due to increased employee costs for new game development and upgrades[48] - The company aims to enhance its game development capabilities and user experience through increased R&D investments and talent training[34] Strategic Initiatives - The company completed an acquisition of a local tech firm for HKD 200 million to enhance its service offerings[1] - A new strategic partnership was formed with a leading telecom provider to improve service delivery[1] - The company plans to launch new games with different styles while ensuring the long-term operation of existing games to address the competitive industry environment[41] Corporate Governance - The board consists of 7 members, including 4 executive directors and 3 independent non-executive directors[91] - The company has adopted a diversity policy for its board, considering factors such as age, gender, cultural background, and professional experience[95] - The company has established a procedure for the appointment of new directors, ensuring a thorough evaluation process[93] - The company has established three committees: audit, remuneration, and nomination, with a majority of independent non-executive directors in each[105] Shareholder Engagement and Dividends - The company proposed a final dividend of HKD 0.12 per share for the year ending December 31, 2021, which is the same as the previous year[134] - As of December 31, 2021, the company's distributable reserves amounted to approximately RMB 306.8 million, with about RMB 214.0 million intended for the final dividend[138] - The company encourages shareholder participation in annual general meetings, providing opportunities for direct communication with the board[120] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating environmental, social, and governance (ESG) issues into its overall corporate management framework[191] - The company aims to minimize potential negative environmental and social impacts from its operations[191] - The company has established environmental, social, and governance (ESG) goals to enhance its sustainable development efforts and stakeholder engagement[192] - The company donated RMB 1 million to support emergency rescue and post-disaster reconstruction efforts in Henan province due to extreme weather in July 2021[192] Employee Relations and Management - The company maintains good relationships with employees, customers, and suppliers, with no significant disputes reported during the year[131] - The management team consists of experienced professionals with backgrounds in the gaming industry, including the CEO who has nearly 17 years of experience[75][76][78] - The company has granted a total of 16,000,000 shares as part of its employee incentive plan, effective from January 5, 2022[74] Risk Management - The company has established a risk management and internal control management system, with regular risk assessments conducted at least annually[116] - The board has reviewed the effectiveness of the company's risk management and internal control systems as of December 31, 2021, covering key controls including financial, operational, and compliance controls[117]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million, representing a 25% growth year-over-year[1]. - Total revenue for the six months ended June 30, 2021, was approximately RMB 833.0 million, a decrease of 20.7% compared to RMB 1,050.3 million for the same period in 2020[14]. - The company's gross profit decreased by 18.7% to approximately RMB 560.3 million, while the gross profit margin increased from 65.6% in 2020 to 67.3% in 2021 due to a higher proportion of revenue from proprietary channels[26]. - The company's net profit for the six months ended June 30, 2021, was approximately RMB 130.3 million, a decrease of about RMB 32.8 million or 20.1% compared to RMB 163.1 million in the same period of 2020[32]. - Basic and diluted earnings per share were RMB 0.06, compared to RMB 0.07 in the same period last year[82]. - The company reported a total comprehensive income of RMB 123,912,000 for the period, down from RMB 170,576,000 in the previous year[83]. User Engagement and Market Expansion - User data showed a rise in active users to 1.2 million, up from 900,000, indicating a 33% increase in user engagement[1]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of the fiscal year[1]. - The flagship product "Floating Life as a Song" achieved a peak ranking of 13th on the iOS game sales chart in mainland China[16]. - The company is actively expanding overseas markets while maintaining its leading position in the domestic female gaming market[13]. - Revenue from mainland China was RMB 597,638,000, down 33.0% from RMB 891,035,000 in the same period last year[104]. - Overseas revenue increased to RMB 235,369,000, up 47.8% from RMB 159,225,000 in the previous year[104]. Strategic Initiatives - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next quarter, aiming for $180 million[1]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on innovative technology solutions[1]. - A strategic acquisition of a tech startup was announced, valued at $50 million, aimed at enhancing product capabilities[1]. - The company plans to continue investing in game development and talent cultivation, seeking synergistic investment and acquisition opportunities to enhance its global competitive advantage[21]. Research and Development - Research and development expenses increased by 10%, totaling $20 million, to support new technology initiatives[1]. - Research and development expenses rose by 36.3% to approximately RMB 178.2 million, up from RMB 130.7 million in the previous year, primarily due to increased employee costs related to new game development and upgrades[28]. - The company plans to continue its focus on research and development to drive future growth and innovation[82]. Financial Position and Cash Flow - The total assets as of June 30, 2021, were RMB 1,662.9 million, down from RMB 1,792.2 million as of December 31, 2020[12]. - As of June 30, 2021, the company had cash and cash equivalents of approximately RMB 774.2 million, ensuring sufficient liquidity for operational needs[34]. - The net cash used in investing activities for the same period was RMB 1,449 million, which included RMB 2,168 million for investments at fair value through profit or loss and RMB 688 million for purchasing fixed deposits[38]. - The company reported a cash outflow of RMB 181,083 thousand upon maturity, compared to RMB 172,247 thousand in the previous year, indicating an increase of approximately 5.1%[144]. Shareholder Information - As of June 30, 2021, the total number of issued shares was 2,185,850,000, with at least 25% held by the public[61]. - Major shareholder Jiang Xiaohuang holds 1,552,516,500 shares, representing 71.19% of the total shares[69]. - The company has granted a total of 80,000,000 shares as part of its share incentive plan, with 60,000,000 shares already granted[75]. - The share incentive plan was approved on September 14, 2020, and aims to align the interests of participants with the company's long-term value creation[74]. Corporate Governance - The company has adopted the corporate governance code and has complied with its provisions as of June 30, 2021, except for a deviation regarding the separation of the roles of Chairman and CEO[56]. - The audit committee, consisting of independent non-executive directors, reviewed the unaudited interim financial statements for the six months ended June 30, 2021[60]. - The company has implemented a securities trading code for directors, with no violations reported during the six months ended June 30, 2021[58].

are a n a 庫度 7 厚值时光 友誼時光股份有限公司 於開曼群島註冊成立的有限公司 股票代號 06820.HK 目 錄 2 釋義 6 公司資料 8 財務摘要 9 主席報告 11 管理層討論及分析 23 董事及高級管理層 28 企業管治報告 40 董事會報告 53 環境、社會及管治報告 88 獨立核數師報告 93 綜合損益表 94 綜合損益及其他全面收益表 95 綜合財務狀況表 97 綜合權益變動表 99 綜合現金流量表 100 綜合財務報表附註 釋 義 | --- | --- | --- | |----------------------------------------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 「採納日期」 指 | | 2020 年 9 月 14 日，即董事會採納股份獎勵計劃的日期 | ...

FRIEND TIMES 中期報告 友誼時光股份有限公司 於開曼群島註冊成立的有限公司 股份代號：06820.HK 目 錄 頁次 釋義2 公司資料4 財務摘要6 主席報告7 管理層討論及分析11 其他資料19 審閱報告24 綜合損益表25 綜合損益及其他全面收益表26 綜合財務狀況表27 綜合權益變動表29 簡明綜合現金流量表31 未經審計中期財務報告附註32 釋 義 | --- | --- | --- | |--------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 於本報告內·除文義另有所指外·下列詞彙有以下含義： | | | | 「審核委員會」 | | 指 本公司按照上市規則的規定成立的審核委員會,以審閱及監督本集團 財 ...

| --- | --- | --- | --- | --- | |--------------|-------|-------|------------------------------------------------------------------|-------| | | | | | | | | | | | | | FRIEND TIMES | | | | | | | | | | | | | | | | | | | | | | | | | # | | | | | | | | FRIENDTIMES INC. 於開曼群島註冊成立的有限公司 股份代號：06820.HK | | 目 錄 | --- | --- | |-------------------------------------|-------| | | | | 公 司 資 料 | | | 財 務 摘 要 | | | 主 席 報 告 | | | 管 理 層 討 論 及 分 析 | | | 董 事 及 高 級 管 理 層 | | | 企 業 管 治 報 告 | | | 董 事 會 報 告 | | | 環 境 、 社 會 及 管 治 報 告 | ...