格隆汇8月12日丨祖龙娱乐(09990.HK)公布，董事会会议将于2025年8月22日(星期五)举行，藉以(其中包 括)考虑及批准集团截至2025年6月30日止六个月的中期业绩及其发布，并考虑派发中期股息(如有)。 ...

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份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 董事會會議通告 ARCHOSAUR GAMES INC. 祖龍娛樂有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9990） 祖龍娛樂有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董事」） 會（「董事會」）謹此公佈，董事會會議將於2025年8月22日（星期五）舉行，藉以 （其中包括）考慮及批准本集團截至2025年6月30日止六個月之中期業績及其發 佈，並考慮派發中期股息（如有）。 承董事會命 祖龍娛樂有限公司 主席兼執行董事 李青先生 中國北京，2025年8月12日 於本公告日期，本公司董事會包括主席兼執行董事李青先生、執行董事白瑋先 生、非執行董事李納川先生及魯曉寅先生以及獨立非執行董事王靜女士、朱霖先 生及丁治平先生。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 祖龙娱乐有限公司 | | | | | | 呈交日期: | 2025年8月6日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 09990 | 說明 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | U ...

Core Insights - The mobile gaming market in May saw Tencent dominating the download charts with "Delta Action" at Top 1, followed by "Honor of Kings" and "Peacekeeper Elite" at Top 2 and Top 3 respectively [1] - New entries in the download rankings included 8 games, with 6 being newly launched in May, highlighting a trend of fresh content driving downloads [4] - "Tafeng Xing," a new mobile game from Zulong Entertainment, gained significant attention, reaching the iOS free game chart's Top 1 shortly after its launch, showcasing the impact of high-quality production and innovative gameplay [4][6] Download Rankings - Tencent led the download rankings with 12 games, while NetEase followed with 5 games, indicating a strong competitive landscape [18] - The action genre dominated the new entries, with 7 action games making it to the download charts [18] New Game Highlights - "Tafeng Xing" features a unique blend of gameplay mechanics, allowing players to customize their skills and strategies, which enhances the overall gaming experience [6] - The game also integrates a rich narrative and immersive environments, appealing to players seeking depth in gameplay [6] IP Collaborations - The collaboration between "I Am the Great Merchant" and the popular Chinese animation "Journey to the West" reflects a growing trend of leveraging IP partnerships to enhance game appeal and user engagement [8][10] - This partnership aims to merge traditional culture with modern gaming, thereby attracting a broader audience [10] Revenue Rankings - "Honor of Kings" and "Peacekeeper Elite" maintained their positions at Top 1 and Top 2 in the revenue rankings, while "Endless Winter" from Diandian Interactive secured Top 3 [12] - New entries in the revenue rankings included "Arknights," "Genshin Impact," "FC Football World," and "Xianyu," indicating a diverse range of successful titles [15] Market Dynamics - The mobile gaming market in May exhibited a dynamic landscape where established games maintained their user base while new titles like "Tafeng Xing" and "Yanyun Sixteen Sounds" broke through with innovative gameplay and IP integration [18] - The competition between old and new games illustrates a healthy market environment, fostering continuous innovation and user engagement [18]

Core Viewpoint - Zulong Entertainment (9990.HK) reported a strong performance in the first half of 2022, with a revenue of RMB 329.8 million, over 65% of which came from overseas markets, indicating a successful global expansion strategy [1][2]. Group 1: Financial Performance - The company achieved a revenue of RMB 329.8 million in the first half of 2022, with significant contributions from international markets [1]. - As of June 30, 2022, Zulong Entertainment had one game with cumulative revenue exceeding RMB 4 billion, three games over RMB 3 billion, and six games over RMB 1 billion [2]. Group 2: Global Expansion Strategy - Zulong Entertainment has accelerated its "going global" strategy, solidifying its market presence in regions such as Hong Kong, Macau, Taiwan, Japan, South Korea, and Southeast Asia [1]. - The company launched 17 premium mobile games supporting 14 languages across over 170 markets [1]. Group 3: Product Development and Innovation - The company is committed to developing industry-leading games and has received positive feedback for its AAA game "In the Name of Shining" [2][3]. - The game "In the Name of Shining" achieved significant success in its launch, topping various app store charts in multiple regions [3]. Group 4: Industry Recognition - Zulong Entertainment has been recognized as a "potential enterprise" in the top 25 of the "2022 Listed Game Enterprises Competitiveness Report" and received the "White Horse Award" from Gamma Data [4]. Group 5: Future Product Pipeline - The company plans to launch 10 diverse game products, including MMORPGs, SLGs, and shooting games, between the second half of 2022 and 2024 [5]. - Zulong Entertainment is collaborating with major studios like Cameron Studios and Disney for the mobile game "Avatar: Reckoning," which has garnered significant attention [5]. Group 6: Market Challenges and Strategy - The gaming industry is facing both opportunities and challenges in international markets, with a focus on game quality being crucial for success [6]. - Zulong Entertainment aims to leverage its integrated research and operations strategy, diverse game genres, and global IP integration capabilities to achieve sustainable growth [6].

Core Viewpoint - Zulong Entertainment (9990.HK) demonstrated strong growth in the premium gaming sector despite a challenging market environment characterized by a contraction in game approvals and accelerated industry clearing [1][2]. Financial Performance - For the fiscal year ending December 31, 2021, Zulong Entertainment reported total revenue of approximately RMB 921 million, with overseas business revenue accounting for about RMB 536 million, representing 58.2% of total revenue [1]. - Self-developed business revenue was approximately RMB 448 million, making up 48.7% of total revenue [1]. Product Development and Strategy - Zulong Entertainment launched 16 premium mobile games in over 170 markets, supporting more than 70 regional versions in 14 languages [1]. - The company plans to release 11 new mobile games from 2022 to 2024, including 4 expected to launch in 2022, covering various genres such as MMORPG, SLG, and shooting games [3]. - The MMORPG and shooting hybrid game "Avatar" represents a new entry into the multiplayer online shooting game category, while the adventure game "Noah's Heart" is set to launch in 2022 [3]. User Base and Market Expansion - As of December 31, 2021, Zulong Entertainment's games had a cumulative global user base exceeding 130 million, with three games generating over RMB 3 billion in total revenue [4]. - The MMORPG game "Dragon Tribe Fantasy" achieved over RMB 3.8 billion in global revenue and nearly 40 million registered users within 18 months of its overseas launch [4]. Future Outlook - The management anticipates that with a richer variety of game genres and a more pronounced global style, game performance and lifecycle will further improve [5]. - Analysts from CICC and Zhongtai International have issued reports with "Buy" and "Accumulate" ratings, respectively, recognizing the company's commitment to premium development and the expected product launch year in 2022 [5].

Core Viewpoint - Zulong Entertainment (09990.HK) reported a mid-year performance announcement for 2023, highlighting increased revenue and reduced losses, while continuing to enhance its R&D core competitiveness and improve its integrated R&D and operation model [1] Group 1: R&D Competitiveness - R&D capability is the core competitiveness of Zulong Entertainment, with R&D expenses increasing annually from 2018 to 2022, and a high proportion of R&D personnel at 78.15% of total employees [2] - The company launched 19 premium mobile games by June 30, 2023, with one game generating over RMB 4 billion in global revenue, and several others achieving significant revenue milestones [4] - The application of generative artificial intelligence (AIGC) in the gaming industry is seen as having high potential, with Zulong Entertainment leveraging AI tools to enhance game product development across multiple dimensions [6][7] Group 2: Integrated R&D and Operation - Zulong Entertainment is building advantages in integrated R&D and operation, with comprehensive game publishing and operation accounting for 74.9% of total revenue in the first half of 2023 [8] - The company has successfully launched 19 premium mobile games in over 170 markets, supporting multiple languages and showcasing its refined operational capabilities [10] - The global gaming market competition necessitates a focus on both content innovation and refined operations, which is crucial for the success of Chinese gaming companies in overseas markets [11]

Core Viewpoint - The new mobile game "Dragon Tribe Fantasy: Brave Gathering" by Zulong Entertainment has shown impressive performance in the competitive global mobile gaming market, quickly topping the free and sales charts in the Hong Kong, Macau, and Taiwan regions, demonstrating strong market competitiveness [1][3]. Group 1: Game Performance and Market Impact - "Dragon Tribe Fantasy: Brave Gathering" has achieved top rankings in both free and sales charts, reflecting the enduring influence of the "Dragon Tribe" IP and Zulong Entertainment's precise understanding of player needs [3][10]. - The game is based on the "Dragon Tribe" series of novels and animations, featuring popular characters and a value card system, which resonates with fans [3][6]. Group 2: Innovative Features and User Experience - The game introduces a "one-click" lightweight experience, simplifying operations with features like "one-click battle" and "one-click daily tasks," significantly reducing the complexity of gameplay [6][8]. - Generous player incentives, such as "400 draws on the first day" and "high drop rates," lower the entry barrier for players, addressing common concerns about the grind in card games [6][8]. Group 3: Technological Advancements and Quality - Zulong Entertainment showcases its industry-leading R&D capabilities with high-quality visual effects and character designs using Unreal Engine 4, enhancing the immersive experience for players [8][10]. - The game features a theme song composed by renowned Japanese composer Hiroyuki Sawano, aligning with current player demands for high-quality experiences [8]. Group 4: Market Trends and Strategic Positioning - The global card game market is experiencing growth, with card games accounting for 22.9% of the top 100 new games in 2024, making it the third most popular category [8]. - Zulong Entertainment's "research and operation integration" model has established a significant advantage in the card game sector, as evidenced by the success of "Dragon Tribe: Cassel Gate," which generated over 100 million in revenue in its first month [8][10]. Group 5: Global Strategy and Future Outlook - The success of "Dragon Tribe Fantasy: Brave Gathering" in the Hong Kong, Macau, and Taiwan markets validates Zulong Entertainment's strategy of premium product development and global operations [10]. - The game is expected to continue its success in the domestic market and initiate sustained growth in global markets through IP development, cultural integration, and technological innovation [10].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the fiscal year, representing a 25% year-over-year growth[2]. - Revenue for the last quarter reached $150 million, representing a 15% increase compared to the previous quarter[1]. - Total revenue for the year ended December 31, 2024, was RMB 1,141.1 million, representing a 25.5% increase from RMB 908.5 million in 2023[21]. - Revenue for 2024 reached RMB 1,141.1 million, a 25.6% increase from RMB 908.5 million in 2023[39]. - Revenue from game publishing and operations reached RMB 1,035.0 million, a 45.9% increase from RMB 709.3 million in 2023, while development and licensing revenue decreased by 43.2% to RMB 105.5 million[54]. - Revenue generated from mainland China was RMB 884.5 million, up 49.4% from RMB 592.1 million in 2023, while revenue from regions outside mainland China decreased by 18.9% to RMB 256.6 million[55]. - The company reported a net profit margin of 12%, an improvement from 10% in the previous quarter[1]. - The company reported a net loss of RMB 287.2 million for 2024, slightly improved from a net loss of RMB 315.6 million in 2023[21]. - The adjusted net loss for 2024 was RMB 270.0 million, compared to RMB 282.9 million in 2023, showing a trend towards reduced losses[21]. User Engagement - User engagement metrics showed a 40% increase in daily active users, reaching 2 million users in the last quarter[2]. - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[1]. - The game "With a Shining Name" maintained strong user retention rates and consistent revenue through multiple high-quality updates in 2024[27]. - The game "With Glorious Name" has received over 18 million interactions on its official Weibo account and maintains a high rating of 8.9 on the TapTap platform[43]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2025[2]. - Market expansion efforts include entering two new international markets by Q3 2024, projected to increase overall revenue by 5%[1]. - The company aims to expand its global presence by adapting its products to local market characteristics, moving from a "go out" strategy to a deeper "go in" approach[32]. - The company has launched 23 mobile games in over 170 markets, with a total registered user base exceeding 200 million and total revenue surpassing RMB 22 billion[41]. Product Development - New product launches are expected to contribute an additional $30 million in revenue, with two major titles set to release in Q3 2024[2]. - The company plans to launch three new products in the upcoming year, aiming to capture an additional 10% market share[1]. - The company plans to launch 8 new games globally from 2025 to 2027, including "Dragon Tribe: Castle Gate" and "Treading Wind" in 2025[47]. - New game titles, including "Treading the Wind" and "Odin," are set for testing in 2025, indicating ongoing product development and market expansion efforts[51][52]. Research and Development - Research and development expenses increased by 10%, totaling $20 million, focusing on enhancing gaming technology and user experience[2]. - The company is investing $30 million in research and development for new technologies, focusing on enhancing user experience[1]. - Research and development expenses decreased to RMB 532.1 million in 2024 from RMB 582.2 million in 2023, reflecting a focus on cost management[21]. - Research and development expenses decreased by 8.6% to RMB 532.1 million from RMB 582.2 million in 2023, attributed to improved cost control in employee benefits and outsourced technical services[60]. Strategic Partnerships and Acquisitions - The company announced a strategic partnership with Tencent to co-develop new gaming titles, expected to generate $50 million in revenue over the next three years[2]. - A recent acquisition of a smaller gaming studio for $10 million is anticipated to enhance the company's development capabilities[2]. - The company has completed a strategic acquisition of a smaller competitor for $50 million, expected to enhance its product offerings[1]. - The group has entered into several related party transactions, including agreements with Perfect World Group and Tencent Group for game development and operation[127]. Financial Management - The management highlighted a strong balance sheet with cash reserves of $100 million, providing flexibility for future investments[1]. - Cash used in operating activities increased by 136.5% to RMB 188.0 million for the year ended December 31, 2024, compared to RMB 79.5 million for the year ended December 31, 2023[72]. - Cash generated from investment activities was RMB 122.5 million for the year ended December 31, 2024, a significant improvement from cash used of RMB 589.1 million in the previous year[74]. - The company reported other net income of RMB 22.5 million for the year, a significant recovery from a net loss of RMB 37.9 million in 2023, mainly due to gains from financial assets measured at fair value[64]. Corporate Governance - The board expressed confidence in achieving long-term growth, emphasizing a commitment to innovation and user satisfaction[2]. - The board has approved a new stock option plan, which is anticipated to incentivize key employees and improve retention rates[1]. - The board will review the overall compliance with contractual arrangements at least once a year[170]. - The independent non-executive directors have reviewed the contractual arrangements and confirmed that transactions conducted under these arrangements have been approved by the board[170]. Social Responsibility - The company continues to fulfill its social responsibilities by engaging in various public welfare activities[40]. - The group has made charitable donations totaling approximately RMB 0.6 million for the year ending December 31, 2024[176]. - The company has executed environmental protection measures and encourages employees to minimize energy consumption and waste[104].

Summary of Conference Call Records Company and Industry Overview - The records primarily discuss the gaming industry, focusing on a company named "闪云" (Shan Yun) and its various gaming products and strategies. The company has seen significant growth in user engagement and revenue, particularly in the Chinese market. Key Points and Arguments 1. **User Growth and Engagement**: By the end of 2024, Shan Yun's global gaming users exceeded 20 million, with significant increases in core gaming metrics during holiday seasons and new game releases [1] 2. **Game Performance**: The game "展明" (Zhan Ming) celebrated its two-year anniversary with substantial upgrades, achieving record high revenue on its launch day, indicating strong player enthusiasm [2] 3. **Cultural Integration**: The company emphasizes the importance of cultural elements in gaming, showcasing its ability to blend traditional culture with modern gameplay, which enhances user experience [3][21] 4. **Product Development and Innovation**: Shan Yun is committed to continuous innovation in gameplay and technology, including the integration of AI and advanced graphics to enhance player immersion [4][35] 5. **Financial Performance**: The company reported a gross profit margin of 7.4% for 2024, with a 27% year-over-year increase in gross profit, indicating effective cost management and revenue growth strategies [19] 6. **Market Expansion**: The company plans to expand its product offerings beyond mainland China, with expectations of increased revenue from international markets [17] 7. **R&D Investments**: Shan Yun has increased its R&D spending, focusing on improving product quality and operational efficiency, which has led to a 30% increase in unrecognized revenue [18][32] 8. **Community Engagement**: The company actively engages with its player community through various online platforms, enhancing brand loyalty and user feedback integration [9] 9. **Strategic Partnerships**: Shan Yun is exploring collaborations with cultural institutions to enhance its gaming content and reach a broader audience [23] 10. **Future Outlook**: The company is optimistic about its growth trajectory, with plans for new game releases and continued investment in innovative technologies to maintain competitive advantage [31][34] Additional Important Content - **Diverse Game Portfolio**: The company has released 23 classic mobile games, with several achieving over 4 billion RMB in cumulative revenue, showcasing its strong market presence [11] - **Player-Centric Design**: Shan Yun focuses on player feedback and preferences in game design, ensuring that new features resonate with its audience [25] - **Cultural and Emotional Connection**: The integration of emotional and cultural elements in gameplay is seen as a key strategy to enhance player engagement and satisfaction [30][38] - **Technological Advancements**: The company is leveraging AI to create more interactive and personalized gaming experiences, which is expected to drive future growth [36][37] This summary encapsulates the essential insights from the conference call records, highlighting the company's strategic initiatives, market performance, and future directions in the gaming industry.