飞鱼科技(01022) - 2021 - 中期财报

Financial Performance - For the first half of 2021, the company's total revenue was approximately RMB 51.67 million, representing a year-on-year increase of 9.7%[14] - The gross profit for the same period was RMB 36.17 million, reflecting an 11.1% increase compared to RMB 32.54 million in the previous year[14] - The pre-tax loss was reduced by 72.5% to RMB 6.02 million from RMB 21.89 million in the prior year[14] - The loss attributable to equity holders of the parent company decreased by 56.8% to approximately RMB 9.68 million, down from RMB 22.41 million[14] - Total revenue increased by 9.7% from RMB 47.1 million in the six months ended June 30, 2020, to RMB 51.7 million in the same period of 2021[39] - Game operation revenue rose by approximately 8.6% from RMB 30.5 million to RMB 33.1 million, largely due to the positive reception of "Neon Abyss" launched in July 2020[40] - Licensing and intellectual property-related income surged by approximately 1,453.6% from RMB 0.4 million to RMB 5.8 million, due to the recognition of various licensing fees[41] - Advertising revenue increased by about 13.2% to approximately RMB 8.8 million, attributed to a partnership with Huawei Software Technology Co., Ltd.[41] - Gross profit rose by 11.1% from RMB 32.5 million to RMB 36.2 million, with a gross margin of 70.0% compared to 69.1% in the previous year[44] - Other income and gains increased by approximately 91.5% from RMB 7.9 million to RMB 15.1 million for the six months ended June 30, 2021, primarily due to investment income rising from RMB 1.8 million to RMB 7.9 million[45] Asset and Equity Growth - Non-current assets increased by 5.8% to RMB 456.11 million from RMB 430.92 million at the end of 2020[15] - Current assets rose by 18.5% to RMB 240.62 million compared to RMB 203.14 million at the end of 2020[15] - Total assets increased by 9.9% to RMB 696.73 million from RMB 634.06 million at the end of 2020[15] - Total equity increased by 16.1% to RMB 567.89 million from RMB 489.17 million at the end of 2020[15] - Net current assets increased by approximately 42.1% from RMB 118.9 million to RMB 168.9 million, mainly due to Tencent's share subscription[59] - Cash and cash equivalents increased by approximately 29.2% from RMB 139.2 million to RMB 179.8 million[61] - As of June 30, 2021, the total cash and cash equivalents amounted to approximately RMB 179.8 million, an increase from RMB 139.2 million as of December 31, 2020, primarily due to Tencent's subscription activities and cash used in operating activities[64] - Total equity increased to approximately RMB 567.9 million as of June 30, 2021, from RMB 489.2 million as of December 31, 2020, primarily due to Tencent's subscription of shares[58] User Engagement and Game Development - As of June 30, 2021, the company had approximately 228.7 million registered users for its RPG mobile and online games, with 172.8 million for online games and 55.9 million for mobile games[29] - The average Monthly Active Users (MAU) for RPG mobile games was approximately 0.1 million, while online games had an MAU of about 0.2 million as of June 2021[29] - The company plans to launch 2 to 3 mobile games targeting domestic and international markets in the second half of 2021, focusing on established IPs like "Gods and Immortals" and "Carrot Defense"[21] - The company maintained a limited but high-quality game product portfolio, focusing resources on developing sequels for popular titles like "Carrot Defense" and "Gods and Immortals"[25] Operational Efficiency - Sales and distribution expenses decreased by approximately 55.9% from RMB 8.9 million to RMB 3.9 million, mainly due to a reduction in advertising expenses from RMB 6.8 million to RMB 2.0 million[46] - Administrative expenses increased by approximately 8.6% from RMB 19.5 million to RMB 21.1 million, driven by an increase in employee costs from RMB 13.2 million to RMB 14.4 million[47] - Research and development costs rose by approximately 44.0% from RMB 21.8 million to RMB 31.4 million, attributed to the establishment of a development team focused on a first-person shooter game[49] - Other expenses significantly decreased from RMB 10.5 million to RMB 0.2 million, primarily due to the absence of impairment losses related to the investment in GaoWo Technology[51] Investment and Financial Management - The group has adopted a prudent cash and financial management policy, concentrating on managing cash activities to minimize funding costs[64] - The group has a diversified investment portfolio to mitigate risks, with at least 50% of total investments allocated to risk-free or capital-protected investments[69] - The expected annual interest rate for the structured financial product "Tianlibao" is approximately 2.6%, with an actual rate of about 2.8% upon redemption[73] - The group focuses on effective capital and investment management policies to ensure compliance with its investment strategies[69] Stock Options and Employee Compensation - The company has established a stock option plan to incentivize management and employees, aligning their interests with shareholders[151] - The total number of stock options granted under the post-IPO stock option plan as of June 30, 2021, is 146,160,000, which represents approximately 8.50% of the issued shares as of that date[151] - The company has adopted a post-IPO share option scheme and restricted share unit plan as part of its long-term incentive program[137] - The performance-based stock options are designed to motivate employees to achieve specific financial targets, enhancing overall company performance[159]