指尖悦动(06860) - 2024 - 中期业绩

Financial Performance - The company reported total revenue of approximately RMB 328.3 million for the six months ended June 30, 2024, representing a 5.0% increase compared to RMB 312.6 million in the same period last year[3]. - Gross profit for the period was approximately RMB 206.2 million, up 18.0% from RMB 174.8 million year-on-year, with a gross margin increase from approximately 55.9% to 62.8%[9]. - The company achieved a profit of approximately RMB 9.2 million, a significant turnaround from a loss of RMB 21.0 million in the previous year, marking a 143.6% improvement[4]. - Total revenue for the six months ended June 30, 2024, was approximately RMB 328.3 million, compared to RMB 312.6 million for the same period last year, representing a growth of about 5.0%[21]. - Basic earnings per share for the reporting period was RMB 0.0048, compared to a loss per share of RMB 0.0111 in the same period last year, indicating a turnaround in profitability[21]. - The net profit attributable to the company's owners for the reporting period was approximately RMB 9.2 million, a significant improvement from a loss of approximately RMB 21.0 million in the same period last year, due to increased gross profit and reduced administrative and R&D expenses[16]. User Metrics - Monthly active users (MAUs) reached 5.1 million, a 75.9% increase year-on-year, while the total registered user base grew by 18.4% to 255.1 million[4]. Revenue Breakdown - Self-published revenue accounted for approximately RMB 191.7 million, representing about 58.4% of total revenue, compared to 47.0% in the same period last year[7]. - Revenue from self-published games was RMB 191,671 thousand, up 30.5% from RMB 146,786 thousand in the previous year[28]. - Revenue from co-published games was RMB 136,619 thousand, a decrease of 17.6% from RMB 165,836 thousand in the previous year[28]. Cost Management - The cost of revenue decreased by approximately 11.4% to RMB 122.1 million, primarily due to reduced platform sharing fees and commissions paid to game developers[8]. - Sales and marketing expenses for the reporting period were approximately RMB 151.6 million, an increase of about 4.8% or RMB 6.9 million compared to the same period last year, accounting for approximately 46.2% of total revenue[10]. - Administrative expenses for the reporting period were approximately RMB 15.0 million, down from approximately RMB 17.5 million in the same period last year, primarily due to the reversal of expected credit loss provisions[11]. - Research and development expenses for the reporting period were approximately RMB 35.6 million, a decrease of about 10.9% or RMB 4.4 million compared to the same period last year, mainly due to reduced employee benefit costs[12]. Market Overview - The Chinese gaming market's actual sales revenue for the first half of 2024 was RMB 147.27 billion, with a year-on-year growth of 2.1%[2]. - The number of online game licenses issued by the National Press and Publication Administration reached 688 in the first half of 2024, indicating a gradual increase in license issuance[2]. Future Plans - The company plans to launch new games in the second half of 2024, focusing on comprehensive testing and product optimization strategies[6]. - The company aims to enhance player experience and monetization capabilities by continuously optimizing game strategies and leveraging big data analytics[6]. Financial Position - Current assets increased from approximately RMB 25.1 million to approximately RMB 43.0 million, primarily due to deposits made for the acquisition of five mobile games, indicating ongoing market expansion efforts[17]. - As of June 30, 2024, the company's current ratio was 4.3, up from 3.9 as of December 31, 2023, reflecting improved liquidity[18]. - The company had no bank borrowings or other debt financing obligations as of June 30, 2024, resulting in a debt-to-equity ratio of zero, indicating a strong financial position[19]. - Total assets as of June 30, 2024, were RMB 985,241 thousand, down from RMB 1,011,901 thousand as of December 31, 2023[22]. - Total liabilities decreased to RMB 195,066 thousand from RMB 226,167 thousand as of December 31, 2023, reflecting a reduction of 13.8%[23]. - Non-current assets totaled RMB 183,774 thousand, a slight decrease from RMB 186,821 thousand in the previous period[22]. - Current assets decreased to RMB 801,467 thousand from RMB 825,080 thousand, indicating a decline of 2.9%[22]. Investments and Assets - The company has made several investments in financial products, each amounting to RMB 30 million, with expected annualized returns ranging from 2.30% to 3.56%[43][44]. - The company has invested in secured notes amounting to HKD 250,000,000 issued by the issuer, which remains unpaid as of December 31, 2023[48]. - The new board has made significant efforts to recover the unpaid notes, including appointing a receiver in November 2023 to safeguard the collateral[48]. - As of the reporting period, the issuer has repaid approximately RMB 11,000,000 of the principal amount through the receiver's efforts[48]. - The issuer's sole shareholder has agreed to pledge 10,000 shares (representing all shares of the issuer) as additional collateral for the notes[48]. - The company has no pledged assets or significant contingent liabilities as of June 30, 2024[46]. Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[51]. - The audit committee, consisting of three independent non-executive directors, has reviewed the company's interim results and confirmed compliance with applicable accounting principles[52]. - The interim results announcement will be published on the Hong Kong Stock Exchange and the company's website[53]. Employee and Tax Information - As of June 30, 2024, the company has a total of 301 employees, down from 347 employees as of June 30, 2023[42]. - The company’s employee costs, including directors' remuneration, were RMB 51,106,000 for the six months ended June 30, 2024, down from RMB 55,038,000 for the same period in 2023[34]. - The company’s subsidiary, Guangzhou Miyuan Network Technology Co., Ltd., continues to enjoy a preferential tax rate of 15% as a "high-tech enterprise" for the three-year period ending June 30, 2024[32]. - The company’s subsidiary, Shanghai Kai Xi Network Technology Co., Ltd., has been granted a 0% tax rate for two years starting from 2021, followed by a 50% reduction for the next three years[31]. Dividends - The company did not declare or propose any dividends for the six months ended June 30, 2024, consistent with the previous year[35]. - The company does not recommend any interim dividend for the six-month period ending June 30, 2024[41].