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Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 146.0 million, an increase of about 7.8% from RMB 135.5 million for the year ended December 31, 2023[51]. - The gaming business contributed approximately RMB 39.8 million in revenue, a decrease of about 43.2% or RMB 30.3 million compared to the previous year, primarily due to the absence of similar licensing income recognized in 2023[51]. - The revenue from custom web series and other income was approximately RMB 106.3 million, an increase of about 62.5% or RMB 40.9 million from RMB 65.4 million in the previous year, mainly due to the recognition of income from "Falling into Our Romance"[51]. - Total revenue for the year ended December 31, 2024, was approximately RMB 146.0 million, an increase of about 7.3% from RMB 135.5 million in 2023[52]. - Revenue from self-developed games was RMB 13.8 million, accounting for 34.8% of total revenue, while revenue from agency games was RMB 26.0 million, accounting for 65.2%[52]. - The company's gross profit margin decreased to 14.7% in 2024 from 25.3% in 2023, reflecting a significant drop in gross profit[50]. - Operating loss for the year was RMB 31.1 million, compared to a loss of RMB 21.4 million in the previous year, representing an increase in losses of 45.3%[50]. - The company reported a net loss of RMB 29.9 million for the year, a 75.9% increase from a net loss of RMB 17.0 million in 2023[50]. - The net loss attributable to owners for the year ended December 31, 2024, was approximately RMB 29.0 million, an increase of about 66.7% from RMB 17.4 million in 2023[63]. - Adjusted net loss for the year ended December 31, 2024, was approximately RMB 13.4 million, a decrease of about 2.9% from RMB 13.8 million in 2023, due to recognized income from "Falling into Our Romance" and further cost reductions[65]. Cryptocurrency Investments - As of December 31, 2024, the company held 102.06568 units of Bitcoin and 818.1345 units of Ethereum, with a total cash consideration of $7.6 million and an estimated fair value of $12.2 million, realizing an unrealized gain of $4.6 million[16]. - The company purchased 54.3479 units of Bitcoin for $4.0 million and sold 51.8 units, realizing a profit of $2.1 million; it also bought 998.39 units of Ethereum for $3.6 million and sold 180.26 units, achieving a profit of $0.025 million[35]. - The company plans to further increase its Bitcoin holdings in response to the approval of spot Bitcoin and Ethereum ETFs and the establishment of strategic Bitcoin reserves in the U.S.[36]. - The company has purchased approximately USD 7.5 million in cryptocurrency during the reporting period[76]. Business Strategy and Focus - The company plans to focus on the third generation of internet business and actively embrace opportunities brought by artificial intelligence technology for business innovation and upgrades in 2025[23]. - The strategic focus will include optimizing investment layouts in cutting-edge technology fields such as cryptocurrency assets and AI agents to create long-term value for the group[23]. - The company aims to continue exploring innovative opportunities in cryptocurrency investment, film, and gaming sectors to create greater value for shareholders, partners, and users[23]. - The company will focus on the third-generation internet business as a strategic priority starting in 2024[33]. - In 2024, the company aims to achieve breakthroughs in three areas: third-generation internet applications, cryptocurrency investments, and providing crypto asset networks and AI computing power services[33]. - The company has fully initiated exploration in third-generation internet business, micro-short video business, and live e-commerce[33]. - The company has acquired a 35% stake in Element, a leading NFT trading market, enhancing its strategic focus on the third-generation internet business[34]. Film and Television Production - The film and television business saw the successful launch of several projects, including the youth romance drama "Falling into Our Heat" and the fantasy drama "Nian Nian Ren Jian Yu," which received widespread market attention[17][18]. - The film division has successfully produced and released several popular youth romance series, achieving 780 million views on Mango TV and a peak popularity score of 21,039 on Tencent[42]. - The film division is focusing on high-quality IP production and collaboration with leading film companies to upgrade its product offerings[43]. - The company has partnered with Tencent Video for the production of the ancient music-themed drama "Ancient Music Wind and Flower Record," which is set to begin production in November 2024[46]. - The company is developing a long drama plan, including the "Blue Harbor Suspense Trilogy Theater," with the first project "Burning Seasons" expected to start production in Q3 2025[46]. Gaming Business - Classic games "Naughty Heaven 1" and "Naughty Heaven 2" were re-released in August and September 2024, providing players with a new gaming experience[23]. - The company has launched two new mobile games, "Naughty Heaven 1" and "Naughty Heaven 2," with over 20 million registered users for the former, emphasizing competitive fairness and traditional Chinese culture[39][40]. - The gaming business will concentrate on self-developed high-quality products and proprietary IP, while the film and television sector will focus on premium IP series[33]. - The company operates 13 online games as of December 31, 2024, aiming to maintain stable operations and cash flow through refined user engagement strategies[40]. - The company is exploring AI technology for smart matching, personalized recommendations, and intelligent NPC behavior simulation to enhance user experience in gaming[41]. Corporate Governance - The board of directors is committed to maintaining high levels of corporate governance to build trust with shareholders and stakeholders[86]. - The board has reviewed and is satisfied with the effectiveness of the corporate governance policies[89]. - The company has complied with GEM listing rules regarding the appointment of independent non-executive directors, with at least three independent directors on the board[92]. - The chairman and CEO roles are held by the same individual, which deviates from the governance code, but the board believes this arrangement benefits the company's strategic direction[94]. - The service contracts for executive directors are typically for three years, with renewals occurring regularly[95]. - The company has established clear guidelines for the management of its operations, ensuring accountability and transparency[88]. - The company has adopted the trading standards for directors as per GEM Listing Rules, confirming compliance for the fiscal year ending December 31, 2024[100]. - The board consists of five directors with a gender ratio of 4:1, including three independent non-executive directors[109]. - The company emphasizes employee diversity, maintaining a gender ratio of 29:28 among all employees[109]. Employee Welfare and Training - The company has implemented a comprehensive employee welfare system, including annual health check-ups and commercial insurance coverage for major illnesses, medical care, and maternity[4.4]. - The company provides annual health check-ups for employees and has established health records to monitor their well-being[185]. - The company has implemented a comprehensive employee training system, offering various training courses to enhance skills and career development[188]. - The company actively listens to employee feedback through various communication channels, ensuring timely responses to concerns and issues[190]. Environmental, Social, and Governance (ESG) - The company is committed to sustainable development and has presented its ESG report to showcase progress and performance in this area[151]. - The company has established an ESG governance framework to enhance management of sustainability, with the board responsible for overseeing significant ESG issues and performance[159]. - The ESG working group is tasked with identifying, assessing, and managing major ESG matters, ensuring compliance with relevant laws and regulations[160]. - The company's greenhouse gas emissions decreased by 41.24% compared to 2023, successfully achieving the set target for that year[171]. - The total paper usage in 2024 decreased by 1.67% compared to 2023, marking the successful achievement of the target set for 2023[176]. - The company has not violated any local environmental laws regarding emissions or waste disposal during the year[169]. - The company has not generated any hazardous waste during its operations and has established measures for the proper disposal of electronic waste[175]. - The company emphasizes energy-saving measures, resulting in a reduction in total energy consumption in 2024 compared to 2023[177]. - The company has adopted high-efficiency electrical appliances and lighting to optimize energy use[178]. - The company has identified climate-related risks and opportunities, integrating them into its enterprise risk management process[181].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 146.0 million, an increase of about 7.7% compared to RMB 135.5 million for the fiscal year ending December 31, 2023[3]. - The company's gross profit for the fiscal year ending December 31, 2024, was approximately RMB 21.4 million, a decrease of about 37.6% from RMB 34.3 million for the fiscal year ending December 31, 2023[3]. - The loss attributable to owners of the company for the fiscal year ending December 31, 2024, was approximately RMB 29.0 million, compared to a loss of RMB 17.4 million for the fiscal year ending December 31, 2023[3]. - The company reported an adjusted loss of approximately RMB 13.4 million for the fiscal year ending December 31, 2024, slightly improved from an adjusted loss of RMB 13.8 million for the fiscal year ending December 31, 2023[3]. - The company's revenue for the year ended December 31, 2024, was approximately RMB 146.0 million, an increase of about 7.8% from RMB 135.5 million in 2023[17]. - The cost of goods sold for the year ended December 31, 2024, was approximately RMB 124.6 million, representing an increase of about 23.1% from RMB 101.2 million in 2023[19]. - The gross profit for the year ended December 31, 2024, was approximately RMB 21.4 million, a decrease of about 37.6% from RMB 34.3 million in 2023, resulting in a gross margin of 14.7% compared to 25.3% in the previous year[22]. - Sales and marketing expenses for the year ended December 31, 2024, were approximately RMB 13.3 million, an increase of about 110.7% from RMB 6.3 million in 2023[23]. - Administrative expenses for the year ended December 31, 2024, were approximately RMB 36.5 million, an increase of about 31.6% from RMB 27.8 million in 2023[24]. - Research and development expenses for the year ended December 31, 2024, were approximately RMB 17.6 million, a decrease of about 20.5% from RMB 22.1 million in 2023[25]. - The net loss attributable to the owners for the year ended December 31, 2024, was approximately RMB 29.0 million, an increase of about 66.7% from RMB 17.4 million in 2023[28]. - The gaming business generated revenue of approximately RMB 39.8 million for the year ended December 31, 2024, a decrease of about 43.2% from RMB 70.1 million in 2023[18]. - The custom web series and other income contributed approximately RMB 106.3 million, an increase of about 62.5% from RMB 65.4 million in 2023[18]. - The company reported other losses of approximately RMB 3.3 million for the year ended December 31, 2024, an increase of about 249.6% from RMB 0.9 million in 2023[26]. - The adjusted net loss for the year ended December 31, 2024, was approximately RMB 13.4 million, a decrease of about 2.9% from RMB 13.8 million for the year ended December 31, 2023[29]. - The loss from continuing operations for the year was RMB 29.9 million, representing an increase of 75.9% compared to RMB 17.0 million in the previous year[29]. - Cash and cash equivalents as of December 31, 2024, amounted to approximately RMB 89.9 million, up from RMB 77.7 million as of December 31, 2023[32]. - Total capital expenditure for the year was approximately RMB 66.4 million, significantly higher than RMB 25.2 million in 2023, with major spending on film and web series rights and cryptocurrency purchases[33]. - The debt ratio as of December 31, 2024, was approximately 25.8%, an increase from 22.7% in the previous year[35]. - The company had no bank loans as of December 31, 2024, consistent with the previous year[35]. - There were no pledged assets as of December 31, 2024, remaining unchanged from the previous year[36]. - The board did not recommend a final dividend for the year ended December 31, 2024, similar to the previous year[39]. - The company incurred a total expense of RMB 192,215,000 for the year ended December 31, 2024, up from RMB 157,774,000 in 2023, reflecting a 22% increase in total expenses[73]. - Basic and diluted loss per share was RMB (0.08), compared to RMB (0.05) in the previous year, indicating a 60.0% increase in loss per share[42]. - Total assets decreased to RMB 315,528,000 from RMB 320,566,000, a decline of 1.2%[44]. - Total equity decreased to RMB 234,208,000 from RMB 247,660,000, a decline of 5.4%[46]. - The company reported a net financial income of RMB 965 thousand in 2024, down from RMB 2,071 thousand in 2023, showing a decrease of approximately 53.4%[64]. - The company reported a net loss attributable to owners of RMB 29,031,000 for the year ended December 31, 2024, compared to a loss of RMB 17,426,000 in 2023, representing a 66.7% increase in losses year-over-year[77]. - Total revenue from miscellaneous income for the year ended December 31, 2024, was RMB 15,030,000, a significant increase from RMB 843,000 in 2023[71]. - The company received government grants totaling RMB 250,000 in 2024, a decrease of 86.9% from RMB 1,908,000 in 2023[71]. - The company reported a net loss of RMB 4,426,000 from financial assets measured at fair value through profit or loss for the year ended December 31, 2024, compared to a gain of RMB 1,436,000 in 2023[72]. - The company’s trade payables decreased to RMB 3,175,000 as of December 31, 2024, from RMB 4,179,000 in 2023, indicating a reduction in outstanding liabilities[80]. - The company did not declare or pay any dividends for the years ended December 31, 2024, and 2023[81]. Investments and Strategic Initiatives - The company has made significant investments in the third-generation internet sector, acquiring 35% equity in Element, a leading NFT trading platform, to enhance its strategic focus[5]. - In 2024, Element Market recorded 4,497,937 unique trading addresses and a transaction volume of approximately $412.8 million[6]. - The company purchased 54.3479 units of Bitcoin for $4.0 million and sold 51.8 units, realizing a gain of $2.1 million, while also acquiring 998.39 units of Ethereum for $3.6 million[7]. - As of December 31, 2024, the company held 102.06568 units of Bitcoin and 818.1345 units of Ethereum, with a total cash consideration of $7.6 million and an estimated fair value of $12.2 million[7]. - The company plans to further increase its Bitcoin holdings in response to the growing interest in cryptocurrencies and the approval of spot Bitcoin and Ethereum ETFs in the U.S.[8]. - The company invested in EcoPowX, which focuses on providing power solutions for AI computing and Bitcoin networks through environmentally friendly facilities[8]. Content Production and Media - The company has successfully developed and tested the remastered version of "Naughty Heaven 1," which has over 20 million historical registered users and is set to launch in August 2024[9]. - The company operates 13 online games as of December 31, 2024, and aims to maintain stable operations in 2025, ensuring continuous cash flow through refined operations and user engagement[10]. - The youth romance series produced by the company achieved significant viewership, with Mango TV reaching 780 million views and Tencent Video peaking at 21,039 in popularity[11]. - The fantasy romance drama "Nian Nian Ren Jian Yu" garnered 70.48 million views from paid members by February 20, 2025, after its release on July 31, 2024[11]. - The company is focusing on high-quality content production in the short drama sector, with multiple micro-dramas launched in August 2024, although it has decided to pause short drama operations due to market saturation[15]. - The remastered version of "Naughty Heaven 1" emphasizes fairness in competition and enhances the characteristics of light competitive MOBA games[9]. - The company plans to upgrade its product offerings by collaborating with leading film and television companies, focusing on high-quality IPs and premium drama production in 2024[11]. - The ancient music-themed drama "Gu Yue Feng Hua Lu" is set to begin production in November 2024, aiming to showcase traditional culture and unique national charm[13]. - The company is committed to deepening its focus on realistic themes and suspenseful narratives, planning to launch the "Blue Port Suspense Trilogy" in 2025[13]. Corporate Governance and Management - Mr. Wang Feng has been appointed as both the Chairman and CEO since February 26, 2023, despite the code's recommendation to separate these roles, which the board believes ensures consistent leadership and strategic development[84]. - The board will regularly review the effectiveness of this arrangement and consider separating the roles of Chairman and CEO when deemed appropriate to maintain high standards of corporate governance[85]. - No directors or controlling shareholders are engaged in any business that directly or indirectly competes with the group as of the fiscal year ending December 31, 2024[86]. - Executive directors have committed not to accept positions or engage in business transactions that compete with the group, and they will not hold more than 5% economic interest in such competing businesses[87]. - Each director participated in multiple training sessions in 2024, including training on GEM listing rules and director responsibilities, to enhance their knowledge and skills[88]. - The Remuneration Committee, chaired by independent non-executive director Mr. Zhang Xiangdong, reviewed the remuneration of directors and senior management, finding it fair and reasonable[89]. - The Nomination Committee, chaired by Mr. Wang Feng, evaluated the composition and independence of the board, recommending re-election of directors at the 2024 annual general meeting[90]. - The company’s nomination policy aims to ensure board members possess the necessary skills and experience, with a focus on diversity in gender, age, culture, and professional background[91]. - The board has adopted a diversity policy, considering various factors such as gender, race, and industry experience in its composition since December 29, 2014[92]. - The board consists of five directors with a gender ratio of 4:1, including three independent non-executive directors[94]. - The company emphasizes employee diversity, maintaining a gender ratio of 29:28 among its staff[94]. - The audit committee was established on April 24, 2014, and is chaired by an independent non-executive director[95]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, ensuring compliance with applicable accounting standards[96]. - The external auditor, Tianzhi Hong Kong CPA Limited, confirmed that the financial figures align with the audited consolidated financial statements for the year ending December 31, 2024[97]. - The company plans to hold its annual general meeting on June 20, 2025[98]. - Share transfer registration will be suspended from June 17 to June 20, 2025, to determine eligibility for voting at the annual general meeting[99]. - The board of directors includes executive directors Wang Feng and Wang Jin, along with independent non-executive directors[100].

Strategic Focus and Business Development - The company has shifted its strategic focus to the third generation of internet business starting in 2024, emphasizing applications, investments, and computing power services [4]. - The company acquired a 35% stake in Element, a popular NFT trading market, which will enhance its development in the third generation internet sector [6]. - The company is actively developing new tools such as the NFT Creator Studio and a Token Bridge aggregator to enhance its NFT offerings [6]. - The company aims to explore micro-short drama business as part of its long-term development strategy [5]. - The company is committed to deepening its strategic deployment in the gaming and film sectors [5]. - The company is planning to establish a dedicated cryptocurrency asset management company, responding to the growing demand for professional cryptocurrency asset management services [7]. Financial Performance - The company's revenue decreased by approximately 40.3%, from RMB 985 million for the six months ended June 30, 2023, to RMB 588 million for the six months ended June 30, 2024 [13]. - Total revenue for the six months ended June 30, 2024, was approximately RMB 58.8 million, a decrease of 40.4% compared to RMB 98.5 million for the same period in 2023 [14]. - Gross profit for the six months ended June 30, 2024, was approximately RMB 14.7 million, a decrease of 34.1% from RMB 22.3 million in the same period last year [17]. - Operating loss for the six months ended June 30, 2024, was approximately RMB 13.7 million, compared to an operating loss of RMB 12.2 million in the same period of 2023 [20]. - The company reported a net loss of RMB (13,681,000) for the six months ended June 30, 2024, compared to a loss of RMB (12,216,000) in the same period of 2023 [129]. - The total comprehensive loss for the period was RMB 11,027,000, compared to RMB 7,264,000 in the prior year, indicating an increase in comprehensive loss of approximately 51.0% [89]. Revenue Breakdown - Game business revenue dropped to RMB 23.3 million in 2024 from RMB 47.0 million in 2023, reflecting a significant decline [13]. - Film and television business revenue also fell to RMB 35.5 million in 2024 from RMB 51.5 million in 2023 [13]. - Revenue from customers in China decreased to RMB 51,028,000 from RMB 79,610,000, a decline of 35.8% [130]. - The film and television business achieved an operating profit of RMB 2,941,000, improving from a loss of RMB (1,890,000) in the prior year [129]. Cryptocurrency Investments - The company has invested in 43.3396 units of Bitcoin and 848.386 units of Ethereum, with a total cash cost of approximately $8.8 million [6]. - The company plans to continue purchasing more cryptocurrencies to further preserve and increase asset value, especially following the SEC's approval of spot Bitcoin and Ethereum ETFs [6]. - The company holds investments in cryptocurrencies valued at approximately USD 8.8 million, including 142.8539 units of Bitcoin and 848.386 units of Ethereum as of June 30, 2024 [32]. - The group purchased cryptocurrencies, including 43.3396 units of Bitcoin and 848.3860 units of Ethereum, for a total cash consideration of USD 5,904,000 (approximately RMB 41,927,000) [146]. Operational Metrics - In the first half of 2024, Element Market recorded 649,241 unique trading addresses, 2,546,332 transactions, and a total trading volume of approximately $234.59 million [6]. - The remastered version of "Naughty Heaven 1" has over 20 million registered users and emphasizes fair competition, officially launching in August 2024 [8]. - "Naughty Heaven 2," a tower defense card game, is set to launch in September 2024, having received its game license in April 2023 [9]. - The fantasy romance drama "Nian Nian Ren Jian Yu" has garnered 22.6 million paid views since its release on July 31, 2024 [11]. - The company is expanding into the short drama market, with several micro-dramas set to premiere starting August 2024 [12]. Compliance and Governance - The management has confirmed that the information in the report is accurate and complete, with no misleading elements [4]. - The audit committee has reviewed the unaudited interim financial results for the six months ending June 30, 2024, confirming the accounting principles adopted by the company [42]. - The company complied with the corporate governance code as outlined in the GEM Listing Rules during the six months ending June 30, 2024 [74]. - As of June 30, 2024, all directors confirmed compliance with the trading standards regarding the buying and selling of the company's securities [77]. Shareholder Information - The total number of issued shares as of June 30, 2024, is 367,974,964 [44]. - Major shareholder Zhu Li holds 21.53% of the company's shares, totaling 79,216,540 shares [49]. - The company holds 21.53% equity interest through Wangfeng Management Limited, which owns 66,576,160 shares [43]. - The company has not declared an interim dividend for the six months ending June 30, 2024 [41]. Employee Compensation and Stock Options - The total employee compensation for the six months ended June 30, 2024, is approximately RMB 21.2 million, down from RMB 25.7 million for the same period in 2023 [30]. - The company has not purchased any shares on the stock exchange to meet the exercise needs of RSUs during the reporting period [55]. - The total number of RSUs granted to the top five highest-paid individuals as of June 30, 2024, includes significant allocations to directors Wang Feng, Liao Mingxiang, and Qi Yunxiao [56]. - The company has a stock option plan approved on November 20, 2014, with various grants made at exercise prices ranging from HKD 0.335 to HKD 8.10 [62]. Asset and Liability Management - Total assets increased to RMB 361,630 thousand as of June 30, 2024, compared to RMB 320,566 thousand as of December 31, 2023, reflecting a growth of approximately 12.8% [90]. - Current liabilities increased to RMB 111,130 thousand from RMB 70,746 thousand, marking a rise of approximately 57% [92]. - The company incurred RMB 41,927,000 in the purchase of intangible assets during the reporting period, compared to RMB 6,439,000 in the previous year [103]. - The company reported a cumulative loss of RMB 1,891,392 thousand as of June 30, 2024, compared to RMB 1,878,628 thousand at the end of 2023, reflecting an increase in losses of about 0.67% [91].

Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately RMB 58.8 million, a decrease of about 40.3% compared to RMB 98.5 million for the same period in 2023[2]. - The gross profit for the six months ended June 30, 2024, was approximately RMB 14.7 million, down approximately 34.1% from RMB 22.3 million for the same period in 2023[2]. - The net loss attributable to the owners of the company for the six months ended June 30, 2024, was approximately RMB 12.8 million, compared to a net loss of RMB 12.9 million for the same period in 2023[2]. - The operating loss for the six months ended June 30, 2024, was RMB 13.7 million, compared to an operating loss of RMB 12.2 million for the same period in 2023[4]. - The company reported a total comprehensive loss of RMB 11.0 million for the six months ended June 30, 2024, compared to a total comprehensive loss of RMB 7.3 million for the same period in 2023[5]. - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB 0.037, unchanged from the same period in 2023[5]. - The group reported an operating loss of RMB 13,681 thousand for the six months ended June 30, 2024, compared to an operating loss of RMB 12,216 thousand for the same period in 2023[21]. - The group's revenue decreased by approximately 40.3% from RMB 98.5 million for the six months ended June 30, 2023, to RMB 58.8 million for the six months ended June 30, 2024[48]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 361.6 million, an increase from RMB 320.6 million as of December 31, 2023[6]. - Total liabilities rose to RMB 113,138 thousand, up from RMB 72,906 thousand, marking an increase of 55.4%[8]. - The company's accumulated losses reached RMB 1,891,392 thousand, up from RMB 1,878,628 thousand, indicating a continued trend of increasing losses[9]. - The company's total assets increased to RMB 361,630 thousand from RMB 320,566 thousand, reflecting a growth of 12.8%[8]. - The group's non-current assets as of June 30, 2024, totaled RMB 88,324 thousand, an increase from RMB 36,957 thousand as of December 31, 2023[23]. Cash Flow and Investments - Cash flow from operating activities showed a significant increase to RMB 46,475 thousand, compared to a cash outflow of RMB 5,718 thousand in the previous year[12]. - Cash and cash equivalents as of June 30, 2024, were RMB 92.0 million, compared to RMB 77.7 million as of December 31, 2023[6]. - The group reported a cash outflow from investing activities of RMB 32,330 thousand, compared to RMB 29,875 thousand in the previous year, indicating an increase in investment expenditures[12]. - Total capital expenditure for the six months ended June 30, 2024, was approximately RMB 43.9 million, significantly up from RMB 10.4 million in the same period of 2023, primarily due to cryptocurrency purchases[60]. Revenue Breakdown - Revenue from the gaming business was RMB 23,334 thousand, down 50.4% from RMB 47,044 thousand in the previous year[21]. - Revenue from the film and television business was RMB 35,453 thousand, a decrease of 31.1% compared to RMB 51,487 thousand in the same period last year[21]. - Revenue from customers in China was RMB 51,028 thousand, down 35.8% from RMB 79,610 thousand in the previous year[21]. - Revenue from South Korea was RMB 6,984 thousand, a decrease of 19.7% compared to RMB 8,699 thousand in the same period last year[21]. - The group recognized revenue from customer contracts of RMB 55,380 thousand for the six months ended June 30, 2024, down 24.0% from RMB 72,809 thousand in 2023[22]. Expenses - Sales and marketing expenses for the six months ended June 30, 2024, were approximately RMB 7.7 million, an increase of about 86.9% from RMB 4.1 million in the same period of 2023[52]. - Administrative expenses for the six months ended June 30, 2024, were approximately RMB 10.3 million, a decrease of about 34.8% from RMB 15.8 million in the same period of 2023[54]. - Research and development expenses for the six months ended June 30, 2024, were RMB 10.3 million, compared to RMB 13.7 million for the same period in 2023[4]. Strategic Initiatives - The company plans to focus on the third-generation internet business as a strategic priority starting in 2024, with significant investments in applications, cryptocurrency, and AI computing services[41]. - The company is actively planning to establish a dedicated cryptocurrency asset management company to meet the growing market demand for professional cryptocurrency asset management services[44]. - The company has initiated a partnership with EcoPowX to provide sustainable power solutions for AI computing and Bitcoin networks, expected to commence operations in Q3 2024[43]. Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024[67]. - The company is committed to transparency and timely disclosure of information to stakeholders[75]. - The board structure reflects a balance between executive and independent oversight[75]. - The company aims to enhance corporate governance through its board composition[75].

Business Strategy and Development - The company reported a significant focus on self-developed IP products, with the sequel to "Naughty Heaven" nearing large-scale public testing after a year of multiple rounds of testing[9]. - The company aims to produce high-quality self-developed games and film works within its annual budget constraints, supported by a stable and professional management team[12]. - The company is focusing on high-quality IP reserves in its film and television business, with plans to launch more quality productions in 2024[9]. - The company is expanding its third-generation internet gaming platform and gamified financial issuance under the leadership of Mr. Lai Weifeng, appointed on February 8, 2023[20]. - The company plans to focus future capital expenditures primarily on gaming and film IP development[55]. - The company plans to actively participate in establishing a cryptocurrency asset management company and apply for a cryptocurrency asset management license in Hong Kong[12]. - The company plans to establish a headquarters for its third-generation internet business in Hong Kong, aiming to connect with the global cryptocurrency industry[10]. - The company is currently considering quantitative targets for board diversity, although no specific targets have been set as of the report date[94]. Financial Performance - The company's revenue for the fiscal year ending December 31, 2023, was approximately RMB 135.5 million, an increase of about 90.6% compared to RMB 71.1 million for the fiscal year ending December 31, 2022[34]. - The cost of goods sold for the fiscal year ending December 31, 2023, was approximately RMB 101.2 million, representing an increase of about 102.0% from RMB 50.1 million in the previous year[39]. - The gross profit for the fiscal year ending December 31, 2023, was approximately RMB 34.3 million, a 64.1% increase from RMB 20.9 million in the previous year, with a gross margin of 25.3%[40]. - The gaming business contributed approximately RMB 70.1 million in revenue for the fiscal year ending December 31, 2023, an increase of about 5.4% from RMB 66.5 million in the previous year[37]. - The film and television business generated approximately RMB 65.4 million in revenue for the fiscal year ending December 31, 2023, a significant increase of about 1,321.7% from RMB 4.6 million in the previous year[37]. - The company reported a net loss of approximately RMB 17.0 million for the fiscal year ending December 31, 2023, a decrease of 72.2% from a net loss of RMB 61.1 million in the previous year[33]. - The adjusted net loss for the year ended December 31, 2023, was approximately RMB 13.8 million, a decrease of about 67.8% from RMB 42.7 million for the year ended December 31, 2022, attributed to recognized revenues from new projects and further cost reductions[50]. - Cash and cash equivalents as of December 31, 2023, were approximately RMB 77.7 million, down from RMB 116.4 million as of December 31, 2022, with a composition of 50.8% in USD, 36.8% in RMB, and 11.9% in HKD[54]. Management and Governance - The company appointed Mr. Wang Feng as CEO and Compliance Officer on February 26, 2023, who has over 25 years of experience in the internet industry[14]. - The company has a strong management team with diverse backgrounds in internet, gaming, and entertainment sectors, enhancing its strategic capabilities[17][18][19]. - The board of directors did not recommend a final dividend for the year ended December 31, 2023, similar to the previous year[71]. - The company has adopted the required standards for directors' securities trading as per GEM Listing Rules, ensuring compliance during the blackout period before financial performance announcements[85]. - The company has established arrangements to assess the independence of its directors, ensuring strong independent elements within the board[96]. - The board holds regular meetings to discuss significant operational matters, ensuring all directors are informed and can make well-informed decisions[80]. - The company emphasizes the importance of effective governance practices to safeguard the interests of shareholders and enhance overall corporate performance[72]. Environmental, Social, and Governance (ESG) Initiatives - The company has established an ESG governance framework to enhance management of sustainability, with the board responsible for overseeing ESG-related risks and opportunities[138]. - The company has set ESG-related goals to align with the Hong Kong government's carbon neutrality targets, and has reviewed the progress of these goals during the year[138]. - The total greenhouse gas emissions and total electricity consumption have decreased, indicating good progress towards the established environmental goals[147]. - The company has not violated any local environmental laws regarding emissions or waste disposal during the year[147]. - The company has implemented a series of internal policies, including a whistleblowing management system, to combat corruption and money laundering[122]. - The company conducts regular anti-bribery and anti-corruption training for employees, tailored to different positions[122]. - The company has established multiple channels for shareholder communication, ensuring timely and equal access to information[126]. - The company has integrated ESG considerations into its management, strategy, and business plans to ensure sustainable operations[139]. Employee and Workplace Practices - The total number of employees as of December 31, 2023, is 88, down from 103 in 2022, indicating a reduction in workforce[162]. - The company emphasizes a competitive and fair compensation system, with various forms of reward and punishment to enhance employee motivation[168]. - Training programs are provided to employees based on their development needs, with a focus on management, professional, and general knowledge[167]. - The company has established a communication channel for employees to express their opinions and feedback, ensuring their rights are protected[170]. - The company has implemented safety management systems to ensure a safe and healthy working environment, with no work-related deaths reported[163]. - The company has implemented a series of pandemic prevention measures, including regular cleaning and disinfection of all office areas and providing employees with masks and sanitizers[166]. - The company offers a diverse range of employee benefits, including statutory paid leave, social insurance, and annual health check-ups[169]. Product Development and Quality Assurance - The company is focusing on the development of its core gaming business and has increased investment in key strategic areas, including the release of new games such as "Naughty Heaven 2" and "Ys VIII"[179]. - The company has established a global strategic partnership with Bilibili for the mobile game "Ys VIII," which will feature comprehensive upgrades while retaining the original IP charm[182]. - The company emphasizes product quality and has implemented strict quality enhancement methods across product positioning, development, and testing phases[178]. - The company has strengthened its game development and operational capabilities, focusing on user feedback and information security to enhance product quality[176]. - The company has implemented a minor protection system across all online products, strictly controlling minors' gaming time and limiting paid services[190].

Financial Performance - For the year ended December 31, 2023, the company's revenue was approximately RMB 135.5 million, an increase of about 90.6% compared to RMB 71.1 million for the year ended December 31, 2022[5]. - The gross profit for the year ended December 31, 2023, was approximately RMB 34.3 million, up about 64.1% from RMB 20.9 million for the previous year[5]. - The loss attributable to owners of the company for the year ended December 31, 2023, was approximately RMB 17.4 million, a significant improvement from a loss of RMB 60.6 million in the previous year[5]. - The adjusted net loss for the year ended December 31, 2023, was approximately RMB 13.8 million, down from RMB 42.7 million in the previous year[5]. - The company reported a net operating loss of RMB 21.4 million for the year ended December 31, 2023, compared to RMB 44.3 million in the previous year[6]. - The company's accumulated losses increased to RMB 1.88 billion from RMB 1.86 billion, indicating a rise of approximately 0.4%[13]. - The company reported a decrease in trade and other payables from RMB 32.07 million to RMB 27.00 million, a decline of about 15.7%[13]. - The company reported a net financial income of RMB 2,071 thousand in 2023, compared to a net financial cost of RMB (206) thousand in 2022[43]. - The total expenses for the company increased to RMB 157,774 thousand in 2023 from RMB 119,584 thousand in 2022, reflecting a 32% rise[42]. Revenue Breakdown - The gaming business generated revenue of RMB 70,134 thousand in 2023, a 5% increase from RMB 66,498 thousand in 2022[32]. - The film and television business saw a significant revenue increase to RMB 65,372 thousand in 2023 from RMB 4,559 thousand in 2022[32]. - Revenue from customers in China increased significantly to RMB 107,222 thousand in 2023 from RMB 43,350 thousand in 2022, representing a 147% growth[37]. - Game business revenue contributed approximately RMB 70.1 million, a 5.4% increase or RMB 3.6 million from the previous year, attributed to the exclusive global release of "Ys: The Oath in Felghana" by Bilibili[77]. - The revenue from customized web series and other income was approximately RMB 65.4 million, a significant increase of about 1,321.7% or RMB 60.8 million compared to RMB 4.6 million in the previous year, mainly due to the recognition of income from "More Than Just Likes"[78]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 320.6 million, a decrease from RMB 364.8 million as of December 31, 2022[10]. - Total equity attributable to the owners of the company decreased to RMB 247.23 million from RMB 262.41 million, representing a decline of approximately 5.8%[13]. - Total liabilities decreased to RMB 72.91 million from RMB 102.42 million, reflecting a reduction of about 28.8%[13]. - The company's total assets decreased to RMB 320.57 million from RMB 364.82 million, a decline of around 12.1%[13]. - Contract liabilities decreased significantly from RMB 65.31 million to RMB 34.64 million, a reduction of approximately 47%[13]. Corporate Governance and Management - The board appointed a new CEO and compliance officer on January 12, 2023, with the changes effective from February 26, 2023[113]. - The company maintains high standards of corporate governance, believing it is key to gaining and maintaining stakeholder trust[117]. - The company has no directors or major shareholders engaged in any competing business as of December 31, 2023[121]. - All executive directors have committed to non-competition agreements, ensuring no involvement in competing businesses[122]. - The company has adopted a diversity policy since December 29, 2014, and reviews it annually to ensure effective implementation[188]. Employee and Compensation - The total employee compensation for the year was approximately RMB 47.6 million, compared to RMB 53.4 million in the previous year[104]. - The company has 88 employees as of December 31, 2023, down from 103 employees in the previous year[104]. - The compensation committee reviewed the remuneration of directors and senior management for the year ending December 31, 2023, and deemed it fair and reasonable[182]. Future Plans and Investments - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development efforts[5]. - The company plans to focus on the third-generation internet business starting in 2024, emphasizing applications, investments, and computing power services[69]. - The company has secured a 35% stake in Element, a popular NFT trading market, to enhance its presence in the third-generation internet sector[71]. - The company is optimistic about cryptocurrency investment opportunities following the SEC's approval of spot Bitcoin ETFs in January 2024[72]. - The company has initiated the development of new mobile games, including the remastered version of "Naughty Heaven 1" and "Naughty Heaven 2," with expected launches in Q2 2024 and Q3 2024 respectively[58]. Share Plans and Options - The company has granted a total of 36,983,846 share options under the share option plan, which is capped at 10% of the total shares issued on the listing date[160]. - The share option plan is valid for ten years from the listing date, with approximately nine months remaining as of the announcement date[167]. - The maximum number of shares that can be granted to any individual under the plan is limited to 1% of the total issued shares over a 12-month period[163]. - The company has a total of 1,000,000 stock options granted in 2019, all of which remain unexercised at an exercise price of HKD 0.88[172]. Audit and Compliance - The audit committee was established on April 24, 2014, and is chaired by an independent non-executive director, ensuring compliance with GEM listing rules[191]. - The consolidated financial statements for the year ending December 31, 2023, have been reviewed by the audit committee and comply with applicable accounting standards[192]. - The audit committee provides recommendations to the board regarding the appointment of external auditors and reviews internal control procedures[192].

智通财经APP数据显示，截止2月26日收盘，有51只股票创52周新高，其中蓝港互动(08267)、长久股份(06959)、力天影业(09958)创高率位于前3位，分别为174.19%、33.21%、15.53%。另外有32只股票创52周新低，其中山西安装(02520)、新丰泰集团(01771)、火山邑动国际控股(01715)创低率位于前三位，分别为-28.30%、-21.82%、-11.54%。 52周新高排行 股票名称 收盘价 最高价 创高率 蓝港互动(08267) 0.840 0.850 174.19% 长久股份(06959) 14.260 14.600 33.21% 力天影业(09958) 2.510 2.530 15.53% 铁货(01029) 0.165 0.165 15.38% 澳至尊(02031) 0.295 0.300 15.38% 环能国际(01102) 0.160 0.171 12.50% 中国重汽(03808) 21.050 22.800 11.22% 华津国际控股(02738) 1.890 1.990 10.56% 天立国际控股(01773) ...

Financial Performance - For the third quarter of 2023, the company reported revenue of RMB 10,115,000, a decrease of 45.4% compared to RMB 18,642,000 in the same period of 2022[6]. - The gross profit for the nine months ended September 30, 2023, was RMB 24,786,000, representing an increase of 23.5% from RMB 20,068,000 in the previous year[6]. - Operating loss for the third quarter was RMB 7,642,000, an improvement from a loss of RMB 10,490,000 in Q3 2022[6]. - The company incurred a total comprehensive loss of RMB 17,936,000 for the third quarter, compared to a loss of RMB 590,000 in the same quarter last year[7]. - For the nine months ended September 30, 2023, the company reported a total comprehensive loss of RMB 25,200 thousand, compared to a total comprehensive loss of RMB 21,715 thousand for the same period in 2022[8][9]. - The company experienced a net loss of RMB 20,081 thousand for the nine months ended September 30, 2023, which is a decrease from a net loss of RMB 45,288 thousand in the same period of 2022[8][9]. - The company reported a net financial income of RMB 517,000 for the nine months ended September 30, 2023, compared to a net financial cost of RMB 982,000 in the previous year[6]. - The adjusted net loss for the nine months ended September 30, 2023, was approximately RMB 15 million, a decrease of 54.4% from RMB 32.8 million in the same period last year, mainly due to revenue recognition from "Ys: The Oath in Felghana" and further cost reductions[58]. Revenue Breakdown - The gaming business generated revenue of RMB 10,002 thousand for the three months ended September 30, 2023, down 32% from RMB 14,661 thousand in the same period last year[20]. - The film and television business reported revenue of RMB 113 thousand for the three months ended September 30, 2023, a significant decline from RMB 3,981 thousand in the prior year[20]. - Game business revenue contributed approximately RMB 57 million, representing a 9.9% increase or RMB 5.2 million compared to the same period in 2022, primarily due to revenue from the exclusive global release of "Ys: The Oath in Felghana" by Bilibili[48]. - The film and television business generated approximately RMB 51.6 million, a significant increase of 1,071.7% or RMB 47.2 million compared to RMB 4.4 million in the same period last year, mainly due to revenue recognition from "More Than Just Likes"[49]. Expenses and Costs - The total operating expenses, including sales and marketing, administrative, and R&D, amounted to RMB 26,102,000 for the nine months ended September 30, 2023, down from RMB 55,624,000 in the previous year[6]. - The company's total costs for the nine months ended September 30, 2023, were approximately RMB 83.9 million, an increase of 52.5% or RMB 28.9 million from RMB 55 million in the same period in 2022[50]. - Sales and marketing expenses decreased by 73.5% to approximately RMB 5.5 million from RMB 20.7 million in the same period last year, due to a reduction in promotional spending[52]. - Administrative expenses decreased by 19.2% to approximately RMB 21.2 million from RMB 26.3 million in the same period last year, primarily due to a reduction in impairment losses on game and film IPs[53]. - Research and development expenses increased by 4.3% to approximately RMB 19.1 million from RMB 18.3 million in the same period last year, reflecting increased investment in self-developed games[54]. Shareholder Information - As of September 30, 2023, the company has a total of 367,974,964 issued shares[76]. - Mr. Wang Feng holds 66,576,160 shares, representing approximately 21.53% of the company's equity[73]. - Major shareholder Zhu Li has a spouse's interest in 79,216,540 shares, equating to 21.53% of the company's equity[81]. - The company has a significant interest in its subsidiary, Blueport Online, with Mr. Wang Feng holding 75.45% of its registered capital[76]. - The company has no other directors or key executives with any interests in shares or related securities as of September 30, 2023[80]. Business Strategy and Focus - The company aims to enhance its market presence and product offerings through ongoing research and development initiatives[5]. - The company is focusing on the development of new mobile games, including "Naughty Heaven 2" and "Ys VIII," with ongoing testing and a planned release for external testing in Q4 2023[31]. - The company is expanding its market presence in overseas regions, with the game "Primal Era" launched in Thailand in Q2 2023 and "The Great Voyage" maintaining stable operations in South Korea[31]. - The company plans to continue focusing on IP expansion, female-oriented and casual games, and Web3 initiatives in the fourth quarter of 2023, aiming to create engaging products and explore financial innovations in the gaming industry[45]. Cryptocurrency and Financial Management - The company has purchased a total of 97.6621 units of Bitcoin for approximately $2.8 million as part of its asset allocation strategy, amid rising Bitcoin prices[43]. - The approval of Bitcoin ETFs by the SEC is expected to catalyze Bitcoin's adoption as an emerging asset class, influencing the company's investment strategy[43]. - The company emphasizes a cautious approach to cryptocurrency investments due to market volatility and potential financial losses[44]. - The company has invested most of its idle funds in fixed deposits with Chinese commercial banks, adopting a prudent financial management approach[60]. Corporate Governance - The company has an independent board structure with independent non-executive directors making up 50% of the board[96]. - The audit committee was established on April 24, 2014, and is chaired by an independent non-executive director[97]. - The board believes that having the same individual serve as both chairman and CEO enhances the consistency of the company's leadership direction[96].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 Linekong Interactive Group Co., Ltd. 藍 港 互 動 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8267） 二零二三年第三季度業績公告 藍港互動集團有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附 屬公司截至二零二三年九月三十日止九個月的未經審核業績。本公告（載有本 公司二零二三年第三季度報告全文）符合香港聯合交易所有限公司GEM證券上 市規則有關季度業績初步公告所附載資料的相關規定。本公司將於適當時候 向本公司股東寄發本公司二零二三年第三季度報告的印刷本。 承董事會命 藍港互動集團有限公司 主席 王峰 中國，北京，二零二三年十一月十四日 於本公告日期，本公司執行董事為王峰先生、陳浩先生及王勁先生（又名嚴雨松）；及本公司 獨立非執行董事張向東先生、吳月琴女士及FU Frank Kan先生。 ...