FRIENDTIMES(06820)2021-09-20 08:45Financial Performance - The company reported a significant increase in revenue, achieving a total of 180 million[1]. - New product launches are expected to contribute an additional 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].