Financial Performance - Total revenue for the first half of 2024 amounted to RMB1,232.1 million, representing an increase of 17.7% from RMB1,047.2 million in the corresponding period in 2023[9]. - Gross profit increased by 3.2% on a period-on-period basis to RMB136.7 million[9]. - Profit after tax grew by 9.2% on a period-on-period basis to RMB47.0 million[9]. - Revenue for the six months ended June 30, 2024, increased by 17.7% to RMB 1,232,052,000 compared to RMB 1,047,189,000 for the same period in 2023[21]. - Profit for the period rose by 9.2% to RMB 46,991,000 compared to RMB 43,045,000 in the previous year[21]. - Total comprehensive income for the period was RMB 47,318, compared to RMB 43,111 in the previous year, reflecting a growth of 9.1%[110]. - Basic and diluted earnings per share remained stable at RMB 0.03 for both 2024 and 2023[109]. Revenue Breakdown - Revenue from mobile advertising services amounted to RMB1,191.0 million, representing a period-on-period growth of 16.1% from RMB1,025.9 million[12]. - Revenue from online-video distribution services rose to RMB20.9 million, a significant increase of 301.9% compared to RMB5.2 million in the same period of 2023[28]. - Game co-publishing services revenue increased from RMB1.7 million for the six months ended June 30, 2023, to RMB3.3 million for the six months ended June 30, 2024[28]. - Mobile advertising revenue from mobile game distribution grew by 16.2%, from RMB1,023.2 million to RMB1,188.8 million, primarily due to an increase in the number of mobile games marketed[26]. - Revenue from other services, including software maintenance, was RMB16.9 million, compared to RMB14.3 million in the previous year[25]. Cost and Expenses - Cost of sales increased by 19.8% from RMB914.7 million for the six months ended June 30, 2023, to RMB1,095.3 million for the six months ended June 30, 2024[29]. - Selling and distribution expenses increased by 34.5% from RMB11.4 million for the six months ended June 30, 2023, to RMB15.3 million for the six months ended June 30, 2024[30]. - Research and development costs amounted to RMB30.6 million for the first half of 2024, representing a period-on-period increase of 11.9%[12]. - Administrative expenses decreased by 2.6% from RMB25.3 million for the six months ended June 30, 2023, to RMB24.6 million for the six months ended June 30, 2024[30]. Assets and Liabilities - The company's cash and bank balances increased to RMB 580.1 million as of June 30, 2024, compared to RMB 534.9 million as of December 31, 2023, marking an increase of 8.4%[35]. - Current assets increased by 12.1% to RMB 2,013.4 million as of June 30, 2024, compared to RMB 1,795.5 million in 2023[35]. - Current liabilities increased by 24.8% to RMB 703.8 million as of June 30, 2024, compared to RMB 563.9 million in 2023[35]. - Total equity grew by 3.4% to RMB 1,452.3 million as of June 30, 2024, from RMB 1,405.0 million in the previous year[35]. Shareholder Information - As of June 30, 2024, the total number of shares issued was 1,525,743,350[71]. - Mr. Gao Dinan holds 419,209,300 shares, representing approximately 27.48% of the company's shareholding[70]. - The company did not recommend an interim dividend for the six months ended June 30, 2024[68]. - The weighted average number of ordinary shares in issue during the period was 1,504,510,115, compared to 1,457,829,545 for the same period in 2023, reflecting an increase of about 3.19%[145]. Incentive Schemes - The company aims to attract and retain skilled personnel through the Share Incentive Schemes[80]. - The 2016 Share Incentive Scheme has granted RSUs representing 62,500,000 shares as of June 30, 2024[82]. - The 2019 Share Incentive Scheme aims to attract and retain skilled personnel by providing equity ownership opportunities[86]. - The total number of shares underlying the exercised RSUs during the reporting period was 15,000,000 shares[87]. Risk Management and Governance - The Audit Committee reviews the effectiveness of the risk management and internal control systems on an annual basis, ensuring adequate measures are in place[97]. - The Company has established a monitoring system for anti-bribery and anti-corruption measures, conducting annual fraud and bribery risk assessments[98]. - The Board considers the risk management and internal control systems effective and adequate for the six months ended June 30, 2024[101]. - The Company has implemented internal rules and policies to regulate employee behavior, including anti-bribery and anti-corruption measures[103]. Market Position and Strategy - The company is positioned to achieve double-digit revenue growth and positive profit growth due to rising domestic market demand and increased smartphone shipments from China[8]. - The company aims to deepen operations across multiple platforms, enhancing collaboration with Huawei HarmonyOS and expanding within the Apple iOS ecosystem[15]. - The company plans to actively explore and expand into overseas markets to support the internationalization of Chinese games[15]. - The company is primarily engaged in mobile advertising services, online-video distribution services, and game co-publishing services[119].
万咖壹联(01762) - 2024 - 中期业绩