蓝港互动(08267) - 2019 - 中期财报

Financial Performance - For the six months ended June 30, 2019, the company's revenue was approximately RMB 106.0 million, a decrease of about 63.6% compared to RMB 291.1 million for the same period in 2018[10]. - The net profit for the three months ended June 30, 2019, was approximately RMB 10.3 million, compared to a net loss of RMB 14.2 million for the same period in 2018, marking a turnaround from a net loss of RMB 15.1 million in the first quarter of 2019[11]. - The adjusted net profit for the three months ended June 30, 2019, was approximately RMB 13.5 million, while the adjusted net loss for the same period in 2018 was approximately RMB 4.2 million[10]. - The adjusted net profit for the six months ended June 30, 2019, was approximately RMB 1.1 million, compared to an adjusted net loss of RMB 54.1 million for the same period in 2018[10]. - The net loss for the six months ended June 30, 2019, was approximately RMB 4.8 million, a decrease of about 93.0% from a net loss of approximately RMB 68.8 million in the same period of 2018[40]. - The total comprehensive loss attributable to owners of the company was RMB 67,529 thousand for the six months ended June 30, 2019, compared to a loss of RMB 63,450 thousand in 2018[111]. Revenue Breakdown - The gaming division reported revenue of RMB 91.14 million for the first half of 2019, a decrease of 55.9% from RMB 206.30 million in the same period of 2018[24]. - The film and television division generated RMB 14.85 million in revenue, down 82.5% from RMB 84.81 million year-on-year[25]. - Revenue from the gaming business decreased by approximately 55.8% or RMB 115.2 million compared to the same period in 2018, attributed to fewer new game releases and the decline of existing games[28]. - The total revenue for the group for the six months ended June 30, 2019, was RMB 105,994 thousand, down from RMB 291,112 thousand in the same period of 2018, representing a decrease of approximately 64%[157][158]. Cost and Expenses - The group's cost for the six months ended June 30, 2019, was approximately RMB 60.3 million, a decrease of about 66.3% from approximately RMB 178.7 million for the same period in 2018[30]. - Gross profit for the six months ended June 30, 2019, was approximately RMB 45.7 million, down about 59.3% from approximately RMB 112.4 million in the same period of 2018, with a gross margin of approximately 43.1%, up 4.5 percentage points[32]. - Selling and marketing expenses decreased by approximately 76.2% to about RMB 17.6 million for the six months ended June 30, 2019, compared to approximately RMB 74.1 million in the same period of 2018[33]. - Administrative expenses were approximately RMB 22.8 million, a decrease of 47.2% from approximately RMB 43.2 million for the same period in 2018, mainly due to staff reductions[34]. - R&D expenses decreased by approximately 64.0% to about RMB 17.9 million for the six months ended June 30, 2019, compared to approximately RMB 49.7 million in the same period of 2018[35]. Shareholder Information - As of June 30, 2019, the total number of issued shares was 368,730,964[63]. - Mr. Wang Feng holds 66,576,160 shares, representing approximately 21.48% of the total shares[61]. - Major shareholders include Zhu Li with 79,216,540 shares (21.48%) and Wangfeng Management Limited with 66,576,160 shares (18.06%)[70]. - Starwish Global Limited holds 52,318,760 shares, representing approximately 14.19%[70]. - The company has a significant interest in 蓝港在线 (Blueport Online) with Mr. Wang Feng holding 75.45%[68]. Cash Flow and Assets - As of June 30, 2019, the company had cash and cash equivalents of approximately RMB 195.2 million, an increase from RMB 176.6 million as of December 31, 2018[45]. - The company reported a net cash outflow from operating activities of RMB 27,777 thousand for the six months ended June 30, 2019, compared to RMB 56,894 thousand for the same period in 2018[115]. - The total assets as of June 30, 2019, were RMB 850,636 thousand, a decrease of 5.0% from RMB 895,703 thousand as of December 31, 2018[103]. - Total liabilities as of June 30, 2019, were RMB 305,523 thousand, down 12.1% from RMB 347,376 thousand as of December 31, 2018[103]. Strategic Initiatives - The company plans to release two mobile games in Japan, including "Fantasy & Puzzle" and the mobile version of "Ys VIII: Lacrimosa of DANA," with the latter expected to launch in 2020[13]. - The company aims to expand its presence in the Japanese market and has established a dedicated team with experience in top 30 Japanese game products[13]. - The company will continue to focus on producing high-quality content, targeting the post-95 and post-00 generations with various genres of film and television[15]. - The company has a robust pipeline of IPs, including major works like "Ancient Music" and "Cloud Sea Treasure Mountain," which are expected to enhance its content offerings[17]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[98]. - The audit committee was established on April 24, 2014, and is responsible for reviewing financial information and internal control procedures[99]. - All directors confirmed compliance with the required trading standards during the six months ending June 30, 2019[101].