BOYAA(00434)2024-03-01 09:08Financial Performance - For the year ended December 31, 2023, the company's revenue was approximately RMB 394.6 million, an increase of about 5.1% compared to RMB 375.3 million in 2022[5]. - The gross profit for the year ended December 31, 2023, was approximately RMB 271.3 million, reflecting a 10.3% increase from RMB 245.8 million in 2022[5]. - The profit attributable to the owners of the company for the year ended December 31, 2023, was approximately RMB 117.2 million, representing an increase of about 82.5% from RMB 64.2 million in 2022[5]. - The adjusted net profit (unaudited) for the year ended December 31, 2023, was approximately RMB 118.9 million, up about 77.2% from RMB 67.1 million in 2022[5]. - The company reported a proposed final dividend of RMB 0.0335 per ordinary share for the year ended December 31, 2023[5]. - The adjusted net profit for 2023 was approximately RMB 118.9 million, a significant year-on-year increase of about 77.2%[12]. - For the fourth quarter of 2023, the company's revenue was approximately RMB 100.3 million, a year-on-year increase of approximately 6.3% from RMB 94.3 million in the same period of 2022[31]. - The company recorded a net profit attributable to owners of approximately RMB 117.2 million for the fiscal year ending December 31, 2023, an increase of about 82.5% from RMB 64.2 million in 2022[27]. User Metrics - The number of paying users as of December 31, 2023, was 206,000, a decrease of 4.6% from 216,000 in the same period last year[9]. - Daily active users (DAUs) were 1,130,000 as of December 31, 2023, down 4.5% from 1,183,000 a year earlier[9]. - The average revenue per paying user (ARPPU) for mobile games was RMB 207.2, an increase of 5.3% compared to RMB 196.8 in the previous year[9]. - The monthly active users increased by approximately 1.2% from about 3.90 million in Q3 2023 to about 3.94 million in Q4 2023[14]. Expenses and Costs - Sales and marketing expenses rose by approximately 36.3% to RMB 48.3 million, accounting for about 12.2% of total revenue, up from 9.4% in the previous year[20]. - The company's administrative expenses remained stable at approximately RMB 98.9 million, compared to RMB 98.6 million in the previous year[21]. - Selling and marketing expenses increased to approximately RMB 11.1 million in the fourth quarter of 2023, up approximately 10.2% from RMB 10.1 million in the same period of 2022[34]. - Administrative expenses rose to approximately RMB 30.7 million in the fourth quarter of 2023, an increase of approximately 6.7% from RMB 28.8 million in the same period of 2022[36]. Investments and Assets - As of December 31, 2023, the company's total digital assets amounted to approximately RMB 78.6 million, including Tether, Ethereum, and Bitcoin[47]. - As of December 31, 2023, the company had cash and cash equivalents of approximately RMB 744.3 million, a significant increase from RMB 294.0 million as of December 31, 2022[50]. - The company recorded investments measured at fair value through profit or loss of approximately RMB 208.5 million as of December 31, 2023, compared to RMB 185.3 million as of December 31, 2022[52]. - The company incurred a loss of RMB 1,178,101 thousand from fixed-term deposits held for more than three months in 2023[79]. Strategic Focus - The company is focusing on the research and development of Web3 games and aims to enhance the quality of its gaming products[15]. - The company plans to continue focusing on the development of Web3 gaming products and infrastructure, aiming to enhance user experience and expand into overseas markets[16]. - The company aims to increase its cryptocurrency reserves, including Bitcoin and Ethereum, as part of its Web3 strategy[16]. - The company plans to focus on developing Web3 gaming-related businesses moving forward[80]. Legal and Compliance - The company is committed to complying with legal regulations in various jurisdictions while striving to build a century-old brand in the online gaming industry[16]. - The company has received all necessary licenses and approvals for its online gaming operations in China, ensuring compliance with local laws[141]. - The company is actively seeking legal advice regarding the ongoing legal matters to protect its interests and those of its shareholders[141]. Corporate Governance - The board consists of two executive directors and three independent non-executive directors, ensuring strong independence[151]. - The company has complied with all applicable corporate governance codes during the reporting period[149]. - The company has not identified any significant issues in its internal control systems following an independent investigation[139].