蓝港互动(08267) - 2021 Q1 - 季度财报

Financial Performance - For the first quarter of 2021, the company reported unaudited revenue of RMB 20,977,000, a decrease of 64.1% compared to RMB 58,489,000 in the same period of 2020[7]. - The gross profit for the first quarter was RMB 6,425,000, resulting in a gross margin of approximately 30.6%[7]. - The company incurred a net loss of RMB 10,443,000 for the quarter, compared to a profit of RMB 1,523,000 in the first quarter of 2020, indicating a significant decline in profitability[8]. - Basic and diluted loss per share for the quarter was RMB (0.0291), compared to RMB (0.0009) in the same period last year[9]. - The total comprehensive loss for the period was RMB (8,327,000), compared to a comprehensive income of RMB 10,388,000 in the first quarter of 2020[9]. - The total operating loss for the group was RMB 9,174,000, compared to an operating profit of RMB 2,856,000 in the same period of 2020[23]. - The group's revenue decreased by approximately 64.1% to about RMB 21.0 million for the three months ended March 31, 2021, compared to approximately RMB 58.5 million for the same period in 2020[47]. - The group incurred a net loss of approximately RMB 10.4 million for the three months ended March 31, 2021, compared to a profit of approximately RMB 1.5 million for the same period in 2020[58]. - The adjusted net loss for the three months ended March 31, 2021, was approximately RMB 10.1 million, compared to an adjusted profit of approximately RMB 3.3 million for the same period in 2020[59]. Revenue Breakdown - The gaming business generated revenue of RMB 18,792,000 from virtual goods sales and RMB 733,000 from licensing and technical service fees, down from RMB 25,689,000 and RMB 10,170,000 respectively in the previous year[22]. - The film and television business reported revenue of RMB 1,452,000, significantly down from RMB 22,630,000 in the same period last year[23]. - Revenue from customers in China was RMB 9,660,000, down 77.2% from RMB 42,280,000 in 2020[26]. - Revenue from South Korea was RMB 9,895,000, a decrease of 32.5% compared to RMB 14,588,000 in the previous year[26]. - Game business revenue contributed approximately RMB 19.5 million, a decrease of about 45.6% or RMB 16.4 million year-on-year, due to a decline in revenue from co-operated games and reduced game licensing income[50]. - The revenue from film and television business, including the production and licensing of web dramas, was approximately RMB 1.5 million, down about 93.6% from approximately RMB 22.6 million in the same period last year[51]. Expenses and Costs - The group reported an investment loss of approximately RMB 0.2 million for the three months ended March 31, 2021, a decrease of about 66.7% from RMB 0.6 million for the same period in 2020, mainly due to reduced operational losses from the investee Axie Interactive Entertainment Limited[57]. - The group's cost for the three months ended March 31, 2021, was approximately RMB 14.6 million, a decrease of about 63.5% from approximately RMB 40.0 million in the same period in 2020[52]. - Sales and marketing expenses were approximately RMB 3.2 million, a decrease of about 37.3% from approximately RMB 5.1 million in the same period last year, mainly due to a decline in new game releases[54]. - Administrative expenses were approximately RMB 7.0 million, down about 28.6% from approximately RMB 9.8 million in the same period last year, reflecting a reduction in spending due to business strategy needs[55]. - Research and development expenses were approximately RMB 4.9 million, a decrease of about 7.5% from approximately RMB 5.3 million in the same period last year, primarily due to reduced capital expenditures[56]. Cash and Equity - As of March 31, 2021, the group had cash and cash equivalents of approximately RMB 135.3 million, an increase from RMB 84.7 million as of December 31, 2020[62]. - The group had short-term bank deposits of approximately RMB 52.0 million as of March 31, 2021, down from RMB 90.8 million as of December 31, 2020[62]. - The group’s total bank loans were approximately RMB 100.0 million as of March 31, 2021, unchanged from December 31, 2020[64]. - The debt ratio, calculated as total liabilities divided by total assets, was approximately 32.8% as of March 31, 2021, compared to 31.2% as of December 31, 2020[64]. - The company’s total equity as of March 31, 2021, was RMB 384,375,000, a decrease from RMB 450,567,000 at the beginning of the year[10]. Strategic Focus and Development - The company continues to focus on its gaming and film businesses in China and other regions, aiming for market expansion and new product development[12]. - The gaming business is advancing new product development, with multiple projects entering the late-stage R&D and technical testing phases[36]. - The self-developed game "Coin Tycoon" is currently in global testing, showing good retention and payment data, with plans for domestic version testing to follow[38]. - The MMORPG mobile game "Wild Era" is in technical testing and is expected to start commercialization testing in 2021[38]. - The film division is building a product matrix with a focus on high-quality IP, including major projects like "Qin Se Yuan" and "Yun Hai Chuan," which are set to begin production in 2022[41]. - The group plans to continue developing self-researched businesses focusing on IP, female-oriented content, and casual games while actively expanding into overseas markets[46]. Shareholder Information - The company’s board members and key executives hold significant equity stakes, with Mr. Wang Feng owning 21.51% of the shares[74]. - Major shareholders include Zhu Li with 21.51% (79,216,540 shares) and Wangfeng Management Limited with 18.07% (66,576,160 shares) as of March 31, 2021[86]. - The total number of issued shares as of March 31, 2021, is 368,350,964 shares[95]. - The company aims to enhance shareholder value through strategic initiatives and market expansion[99]. Corporate Governance - The company has adhered to the principles and provisions of the Corporate Governance Code as per GEM Listing Rules Appendix 15 during the three months ending March 31, 2021[111]. - The Audit Committee, established on April 24, 2014, is responsible for reviewing financial data, internal controls, and risk management[112]. - The company has complied with the GEM Listing Rules regarding the composition of the Audit Committee as per Article 5.28[113]. - All directors confirmed compliance with the required trading standards during the three months ending March 31, 2021[114].