Game Performance and User Metrics - For the six months ended June 30, 2024, the company successfully launched 29 new games, with a total of over 380 games operated, achieving 603.2 million registered users[5]. - The average monthly active users (MAU) reached 10.2 million, while the average monthly paying users (MPU) stood at 1.1 million, resulting in an average revenue per paying user (ARPPU) of RMB 476.8[6]. - Revenue from self-operated game products reached RMB 2,481.6 million, an increase of 17.1% from RMB 2,118.9 million in the same period last year, driven by new game launches[21]. - Revenue from co-operated game products decreased by 39.5% to RMB 668.5 million, down from RMB 1,105.1 million, primarily due to existing games entering the later stages of their life cycle[21]. - Revenue from mainland China accounted for RMB 2,938,751,000, down 10.1% from RMB 3,268,089,000 in 2023[84]. Financial Performance - The company's revenue for the six months ended June 30, 2024, was RMB 3,225.8 million, a decrease of 5.1% from RMB 3,400.1 million in the same period of 2023[18]. - The company recorded a net loss of RMB 385.0 million for the six months ended June 30, 2024, compared to a net profit of RMB 300.3 million in the same period last year[38]. - Gross profit increased by 3.1% to RMB 2,364.2 million, with a gross margin of 73.3%, up 5.8 percentage points from 67.5% in the previous year[26]. - The total tax expense for the period was a negative RMB 31,397,000, significantly down from RMB 142,393,000 in the previous year[96]. - The group reported a pre-tax loss of RMB 382,924,000 for the six months ended June 30, 2024, compared to a profit of RMB 275,654,000 for the same period in 2023[101]. Cost and Expenses - Sales cost decreased by 22.1% to RMB 861.6 million from RMB 1,106.0 million, mainly due to reduced commissions from third-party distribution channels[25]. - The total salary cost incurred for the six months ended June 30, 2024, was RMB 218.9 million, a decrease of 16.0% compared to RMB 260.7 million in the same period of 2023[54]. - Promotion expenses increased to RMB 2,190,825,000, up 13.3% from RMB 1,851,249,000 in the previous year[6]. - The cost of sales for products decreased to RMB 38,208,000 from RMB 76,470,000 year-on-year, indicating a reduction of 50%[6]. Strategic Initiatives - The company has signed strategic cooperation agreements with major cloud service providers, enhancing its capabilities in game development and operations[9]. - The company is actively pursuing a global strategy, having published and operated over 30 multilingual games in various international markets[12]. - The company launched the AI-powered "X" smart marketing platform to enhance advertising precision and meet marketing needs in the gaming sector[13]. - The company has established a deep partnership with Huawei to explore opportunities within the HarmonyOS ecosystem for game development[11]. - The company plans to continue developing a diversified product matrix and is actively preparing multiple new games across different genres[15]. Financial Position and Liquidity - As of June 30, 2024, the group's cash and cash equivalents amounted to RMB 541.0 million, an increase from RMB 486.9 million as of December 31, 2023[44]. - Interest-bearing bank and other borrowings were RMB 49.8 million as of June 30, 2024, down from RMB 213.7 million as of December 31, 2023[45]. - The debt-to-equity ratio as of June 30, 2024, was 0.13, a decrease from 0.18 as of December 31, 2023[46]. - The current ratio as of June 30, 2024, was 0.88, compared to 0.84 as of December 31, 2023[47]. - The company believes it has sufficient cash flow to continue operations and meet its obligations in the foreseeable future[84]. Shareholder and Corporate Governance - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[64]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[66]. - The company has adopted a pre-IPO share option plan to incentivize eligible participants, including employees[56]. - The group has no specific plans for significant investments or acquisitions as of June 30, 2024[50]. - The company has not engaged in any buybacks or sales of its listed securities during the reporting period[63].
中旭未来(09890) - 2024 - 中期业绩