IGG(00799) - 2024 - 中期业绩

Financial Performance - For the six months ended June 30, 2024, IGG Inc reported revenue of HKD 2,735,274,000, a 9% increase from HKD 2,499,020,000 in the same period of 2023[6]. - The group achieved a profit of HKD 330,945,000 for the first half of 2024, compared to a loss of HKD 359,798,000 in the previous year, marking a significant turnaround[7]. - The gross profit for the period was HKD 2.155 billion, a 19% increase from HKD 1.806 billion in the previous year, with a gross margin of 79%[18]. - The company reported a total comprehensive income of HKD 298,642 for the period, compared to a loss of HKD 404,783 in the previous year[111]. - For the six months ended June 30, 2024, the company reported a net profit of HKD 330,945,000, compared to a loss of HKD 359,798,000 for the same period in 2023[114][115]. - Basic earnings per share for the six months ended June 30, 2024, was HKD 0.2880, compared to a loss per share of HKD 0.3080 in 2023[110]. - The company reported a net unrealized loss of HKD (46,159,000) for the period, which is a significant increase compared to the previous year's loss of HKD (7,730,000)[175]. Revenue Breakdown - The classic game "King of Kingdoms" contributed HKD 1.338 billion, accounting for 48.9% of total revenue, while "Doomsday: Last Survivors" and "Viking Rise" contributed HKD 492.85 million (18.0%) and HKD 308.515 million (11.3%) respectively[17]. - Revenue from mobile games was HKD 2,326,208, slightly up from HKD 2,309,934 in the previous year, with significant contributions from titles like "King of Kingdoms" and "Doomsday: Last Survivors"[122]. - Revenue from the mobile application business reached HKD 409,066, a substantial increase from HKD 189,086 in the prior year, reflecting a growth of 116%[122]. - The revenue distribution by region shows that Asia, Europe, and North America contributed 41%, 34%, and 21% respectively to the total revenue[16]. Expenses and Costs - Sales and distribution expenses decreased by 20% to HKD 1.221 billion, compared to HKD 1.521 billion in the same period last year, due to adjusted promotional efforts[20]. - The group’s R&D expenses for the first half of 2024 were HKD 394,508,000, down from HKD 500,419,000 in the same period of 2023[6]. - Employee costs for the six months ended June 30, 2024, totaled HKD 462,715, down from HKD 541,339 in the same period last year, indicating a reduction of 14.5%[127]. - Total advertising and promotion expenses decreased to HKD 1,193,878,000 from HKD 1,483,886,000, reflecting a reduction of approximately 19.5%[129]. Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 1.94 billion as of June 30, 2024, from HKD 1.47 billion as of December 31, 2023[24]. - Net cash inflow from operating activities was HKD 603 million, compared to a net cash outflow of HKD 44 million in the same period of 2023, driven by increased game revenue and reduced promotional expenses[25]. - The company reported a net cash inflow from financing activities of HKD 60,184,000, compared to an outflow of HKD 39,210,000 in the previous year[117]. Shareholder Returns - The company declared an interim dividend of HKD 0.085 per share, representing approximately 30% of the profit for the first half of 2024[7]. - The board declared an interim dividend of HKD 0.085 per share, totaling approximately HKD 100 million, compared to no dividend in the same period of 2023[30]. - The group repurchased 9,895,000 shares for approximately HKD 33 million, with total outflows for share repurchase and declared dividends amounting to HKD 133 million, representing 40% of the current period's profit[31]. Investments and Fair Value - The investment business experienced a slight loss of approximately HKD 25 million due to fair value changes of investment targets[14]. - The fair value changes of financial assets measured at fair value through profit or loss resulted in a loss of HKD 25,353,000 for the six months ended June 30, 2024, compared to a profit of HKD 967,000 in the same period of 2023[34]. - The group's investment in MFund, L.P. has a fair value of HKD 147,148,000 as of June 30, 2024, down from HKD 186,261,000 as of December 31, 2023, reflecting an unrealized loss of HKD 39,019,000[36]. Corporate Governance - The board of directors has not separated the roles of chairman and CEO, which is a deviation from corporate governance code C.2.1[41]. - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance during the reporting period[42]. - The company has established an audit committee to oversee financial reporting and risk management, composed entirely of independent non-executive directors[92]. Regulatory Compliance - The company confirmed that as of the report date, there are no regulatory challenges regarding its structured contracts from Chinese authorities[103]. - The company is subject to ongoing compliance with the "Negative List" which prohibits foreign investment in certain internet cultural operations[104]. - The company acknowledges that future changes in laws and regulations could adversely impact its business operations and financial performance[106].