蓝港互动(08267) - 2020 Q3 - 季度财报

Financial Performance - Revenue for the nine months ended September 30, 2020, was approximately RMB 130.6 million, a decrease of about 22.5% compared to RMB 168.5 million for the same period in 2019[5] - The loss for the nine months ended September 30, 2020, was approximately RMB 11.5 million, an increase of 10.6% from a loss of RMB 10.4 million in the same period of 2019[5] - Adjusted net profit for the nine months ended September 30, 2020, was approximately RMB 3.8 million, compared to an adjusted net loss of RMB 7.5 million for the same period in 2019[5] - The company reported a gross profit of RMB 42.7 million for the nine months ended September 30, 2020, down from RMB 60.5 million in the same period of 2019[6] - Operating loss for the nine months ended September 30, 2020, was RMB 3.6 million, a significant improvement from an operating loss of RMB 17.3 million in the same period of 2019[6] - The company experienced a net loss of RMB 18.5 million for the three months ended September 30, 2020, compared to a net loss of RMB 5.6 million for the same period in 2019[6] - The company’s total comprehensive loss for the nine months ended September 30, 2020, was RMB 19.0 million, compared to a total comprehensive income of RMB 5.7 million for the same period in 2019[13] Revenue Breakdown - The gaming business generated revenue of RMB 96,164,000 for the nine months ended September 30, 2020, down from RMB 131,226,000 in the same period of 2019, reflecting a decrease of about 26.7%[36] - The film and television business reported revenue of RMB 34,485,000 for the nine months ended September 30, 2020, compared to RMB 37,296,000 in the same period of 2019, indicating a decline of approximately 4.3%[37] - Revenue from China for the nine months ended September 30, 2020, was RMB 75,978,000, down from RMB 100,045,000 in the same period of 2019, a decrease of approximately 24.1%[40] - Revenue from South Korea for the nine months ended September 30, 2020, was RMB 47,151,000, a decrease from RMB 53,977,000 in the same period of 2019, representing a decline of about 12.5%[40] Expenses and Cost Management - Research and development expenses for the nine months ended September 30, 2020, were RMB 10.7 million, down from RMB 21.9 million in the same period of 2019[6] - The company's cost for the nine months ended September 30, 2020, was approximately RMB 88.0 million, a decrease of about 18.6% compared to RMB 108.1 million for the same period in 2019[66] - Sales and marketing expenses for the nine months ended September 30, 2020, were approximately RMB 8.9 million, a decrease of about 63.5% from RMB 24.4 million in the same period of 2019[69] - Administrative expenses for the nine months ended September 30, 2020, were approximately RMB 28.6 million, down 15.7% from RMB 33.9 million in the same period of 2019[70] Shareholder Information - As of September 30, 2020, the total number of issued shares is 368,730,964[102] - Major shareholder Zhu Li holds 79,216,540 shares, representing 21.48% of the total[99] - Starwish Global Limited holds 52,318,760 shares, representing 14.19% of the total[99] - Fosun International Holdings Limited also holds 52,318,760 shares, representing 14.19% of the total[102] - Mr. Wang holds 66,576,160 shares through Wangfeng Management Limited, representing an 18.06% stake[99] - Ms. Liao holds 12,168,720 shares through Liaomingxiang Holdings Limited, representing a 3.30% stake[102] Strategic Initiatives - The company plans to expand its market presence in China and other regions through its gaming and film businesses[23] - The company is focused on developing new technologies and products in the gaming sector to enhance user engagement[23] - The company aims to achieve profitability in the upcoming quarters by optimizing operational efficiencies and expanding its product offerings[23] - The company plans to release 1-2 high-quality works in the fourth quarter of 2020, with preparations already underway[49] - The company has established a Japanese publishing team to deepen its market presence in Japan, following its success in South Korea[51] Share Repurchase and Capital Management - The company has implemented a share repurchase plan to manage its capital structure effectively[20] - On July 2, 2020, the company repurchased 200,000 shares, representing approximately 0.054% of the total issued shares, at a maximum price of HKD 0.42 and a minimum price of HKD 0.39[124] - The total purchase price for the repurchased shares was approximately HKD 78,955, funded from internal resources without utilizing any funds raised from the listing[124] - The board believes that the share value is continuously underestimated and that the company's current financial resources allow for share repurchases while maintaining a stable financial condition for ongoing operations[126] Corporate Governance - The company has adhered to the principles and code provisions of the Corporate Governance Code as per GEM Listing Rules Appendix 15[127] - The Audit Committee was established on April 24, 2014, and is responsible for reviewing financial information, internal control procedures, and risk management systems[128] - The company has complied with GEM Listing Rule 5.28 regarding the composition of the Audit Committee[129] - The company has adopted the trading standards for directors as per GEM Listing Rules 5.48 to 5.67 and confirmed compliance for the nine months ending September 30, 2020[130]