创梦天地(01119) - 2023 - 年度业绩

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,916,473, a decrease of 26% from RMB 2,594,528 in 2022[2] - Adjusted annual profit for 2023 was RMB 139,597, compared to a loss of RMB 576,152 in 2022, indicating a significant turnaround[2] - Revenue for the year ended December 31, 2023, decreased by 26.1% to approximately RMB 1,916.5 million compared to RMB 2,594.5 million in 2022[15] - Game revenue accounted for 96.5% of total revenue in 2023, amounting to RMB 1,849.1 million, down 27.0% from RMB 2,531.3 million in 2022[16] - The annual loss from continuing operations decreased from RMB 2,521.6 million to RMB 456.8 million, with adjusted annual profit for 2023 at RMB 139.6 million compared to an adjusted loss of RMB 576.2 million in 2022[26] - The company reported a net loss of RMB 560,818,000 for the year ending December 31, 2023[54] - The company incurred a net loss attributable to owners of RMB 556,347 thousand for the year, significantly improved from a loss of RMB 2,492,293 thousand in 2022[47] - The basic loss per share from continuing operations was RMB 0.32, an improvement from RMB 1.75 in the previous year[47] Game Performance - The games "Dream Garden" and "Dream Home" saw revenue increase by over 50% compared to the same period in 2022, achieving historical highs since their launch[4] - "Subway Surfers" maintained its popularity ten years post-launch, ranking among the top free games on iOS in mainland China, with 12 new versions released in 2023[4] - The newly launched domestic version of "Mecha Squad" achieved a ranking of seventh in iOS shooting category revenue during the Spring Festival period in 2024[4] - The company successfully launched 10 new versions of "Dream Garden" in 2023, introducing localized themes and a charity-themed version in collaboration with the China Animal Protection Association[4] - The self-developed game "Kara Bichu" achieved over 60% increase in daily active users during the public beta, with a year-on-year user growth of 130% and a player retention rate improvement of approximately 10%[6] - "Kara Bichu" became the first in multiple rankings, including the Bilibili reservation list and shooting category popularity index, and maintained a leading position on WeGame's hot new products list[6] - The game "Honor of Kings" maintained its position as the top horizontal action fighting RPG mobile game, with seven major updates in 2023, including a collaboration with a well-known domestic animation IP[7] User Engagement and Community - The community platform Fanbook has enhanced user engagement and interaction, contributing to the overall growth of the user base[3] - Fanbook community supported over 10 million users by the end of 2023, with more than 40,000 new communities created and overall content exposure exceeding 2 billion times[9] - The company emphasizes a user-centered approach and high-quality game operations as key competitive advantages in the gaming industry[3] - The AI tools deployed in the Fanbook community have attracted over 300,000 creators, generating more than 1 million quality AI works in the past year[9] - The introduction of AI capabilities in the Fanbook community aims to enhance user retention and expand commercial applications[12] Financial Health and Cash Flow - The company reported a significant increase in operating cash flow, with a net inflow of RMB 253.0 million in 2023, compared to RMB 93.9 million in the same period last year[10] - The company's cash and cash equivalents increased by 110.4% to approximately RMB 190.4 million as of December 31, 2023, up from approximately RMB 90.5 million in 2022[33] - Total borrowings decreased to approximately RMB 966.4 million in 2023 from RMB 1,011.2 million in 2022, with secured bank borrowings accounting for RMB 876.42 million[34] - The current ratio improved to 1.07 as of December 31, 2023, compared to 0.87 in the previous year, indicating better short-term financial health[33] - The debt ratio decreased to 53.0% in 2023 from 58.5% in 2022, reflecting a reduction in total liabilities relative to total assets[33] Cost Management and Expenses - Total revenue cost decreased by 43.3% year-on-year to RMB 1,243.0 million for the year ended December 31, 2023, with the percentage of revenue cost dropping from 84.6% to 64.9%[19] - Sales and marketing expenses fell by 78.5% to RMB 230.6 million, representing 12.0% of revenue, down from 41.4% in the previous year, due to improved customer acquisition efficiency[20] - Research and development expenses decreased from RMB 316.0 million to RMB 240.0 million, while the percentage of revenue increased slightly from 12.2% to 12.5%[22] - The total expenses for the year ended December 31, 2023, amounted to RMB 1,845,918 thousand, a significant decrease from RMB 4,445,327 thousand in the previous year[61] Strategic Initiatives and Future Plans - The company plans to expand "Kara Bichu" to multiple platforms, including consoles and mobile devices, enhancing its global reach[6] - The company plans to enter the Middle East market in March 2024, showcasing its game products at the LEAP technology exhibition[11] - The company will continue to focus on localization and global deployment of high-quality game IPs to expand its market presence[11] - The company plans to launch multiple versions of several games in 2024, which is expected to generate positive cash flow[55] - The company anticipates continued improvement in operating performance and cash inflows in 2024 due to established user loyalty and reduced advertising expenses[55] Corporate Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[89] - The audit committee reviewed the audited consolidated financial statements for the year ended December 31, 2023[92] - The figures in the performance announcement have been verified by the auditors against the audited consolidated financial statements[93] - The annual performance announcement and annual report will be published on the Stock Exchange and the company's website at an appropriate time[94] - The company is registered in the Cayman Islands and its shares are listed on the Hong Kong Stock Exchange (stock code: 1119)[96]