家乡互动(03798) - 2024 - 年度业绩

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was RMB 1,386,080,000, a decrease of 22.1% compared to RMB 1,779,667,000 in 2023[3] - Gross profit for the same period was RMB 629,586,000, down 45.6% from RMB 1,157,455,000 year-over-year[3] - The company reported a loss before tax of RMB 91,542,000, a decline of 118.3% compared to a profit of RMB 501,097,000 in the previous year[3] - The adjusted net profit attributable to the company's owners was RMB 29,520,000, contrasting sharply with RMB 499,393,000 in 2023[3] - The group reported a net loss of RMB 76.2 million for the year ended December 31, 2024, compared to a profit of RMB 440.5 million in 2023[48] - The basic and diluted loss attributable to shareholders for the year ended December 31, 2024, is RMB (74,174,000) compared to a profit of RMB 436,936,000 for the year ended December 31, 2023[67] User Metrics - Daily active users (DAUs) as of December 31, 2024, were 13,377,495, slightly up from 13,360,659 on June 30, 2024, but down from 14,389,388 a year earlier[6] - The number of paying users reached 17,756,141, an increase from 15,691,516 in the previous six months and significantly up from 13,104,865 a year ago[6] - Monthly average active users (MAUs) were 64,342,667, down from 68,289,393 in the same period last year[6] - As of December 31, 2024, the company reported a daily active user (DAU) count of 13.38 million and a monthly active user (MAU) count of 64.34 million, maintaining relative stability year-on-year and quarter-on-quarter[7] - The number of paying users increased significantly to 17.76 million, representing a year-on-year growth of 35%[7] Revenue Breakdown - Revenue from self-developed mobile games was RMB 1,212,269,000, accounting for 87.46% of total revenue, while third-party mobile games contributed RMB 140,153,000, or 10.11%[4] - Revenue from self-developed mobile games decreased to RMB 1,212,269,000 in 2024 from RMB 1,566,458,000 in 2023, a decline of approximately 22.5%[58] - Advertising revenue decreased by 50.5% to RMB 33,658,000 from RMB 68,000,000 in the previous year[4] - Revenue from mainland China was RMB 1,329,281,000 in 2024, down from RMB 1,779,667,000 in 2023, a decrease of about 25.3%[59] Cost and Expenses - The group's sales cost increased by approximately 21.6% from RMB 622.2 million in 2023 to RMB 756.5 million in 2024, primarily due to increased commissions paid to new media and game operators[21] - Marketing expenses increased by RMB 106 million, contributing to pressure on overall profitability despite significant investments in promotional activities[9] - Sales and marketing expenses increased by approximately 31.1% from RMB 340.6 million to RMB 446.7 million, driven by an increase in advertising expenses by RMB 136.5 million[26] - Administrative and other expenses decreased by approximately 26.2% from RMB 387.9 million to RMB 286.2 million, mainly due to a reduction in share-based payment expenses by RMB 48.6 million and R&D expenses by RMB 35.7 million[27] - The total employee costs for the year ended December 31, 2024, were approximately RMB 192.1 million, down from RMB 278.9 million in 2023, reflecting a reduction due to workforce downsizing and cost control measures[44] Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product offerings through new technology developments and strategic initiatives[5] - The company introduced new payment mechanisms and restructured the in-game economy, enhancing user engagement and social interaction within its products[7] - The company successfully launched the casual SLG game "Home Garden: Dream Party" as part of its diversified strategy, aiming to explore new growth points[10] - The international versions of "Micro Fishing" performed well, contributing to considerable overseas revenue, with plans to expand into markets in Japan, South Korea, Southeast Asia, and the Middle East[10] - The company plans to expand its user base by targeting lower-tier markets through localized entertainment offerings and differentiated marketing strategies[15] - The strategy includes strengthening product reserves and accelerating the launch of overseas products to diversify revenue streams[16] Financial Position - As of December 31, 2024, the group had cash and cash equivalents of approximately RMB 755.0 million, a decrease from RMB 1,340.9 million as of December 31, 2023[36] - The group's capital expenditure for the year ended December 31, 2024, was approximately RMB 387.8 million, significantly up from RMB 63.8 million for the year ended December 31, 2023[41] - The group has a total equity of RMB 1,916,152 thousand in 2024, down from RMB 2,084,150 thousand in 2023, indicating a decrease of about 8.0%[50] - Total liabilities increased from RMB 190,164 thousand in 2023 to RMB 234,284 thousand in 2024, marking an increase of approximately 23.2%[50] - The company has no short-term or long-term bank borrowings as of December 31, 2024, resulting in a leverage ratio of zero[39] Compliance and Governance - The company has complied with the Corporate Governance Code throughout the year ended December 31, 2024[76] - The annual performance has been audited by Deloitte, confirming compliance with applicable accounting principles and sufficient disclosure[79] - The company has not adopted any new or revised International Financial Reporting Standards that would have a significant impact on the financial statements for the current or prior years[52] Dividend Policy - The group will not distribute annual dividends this year to concentrate resources on business expansion and technological innovation[13] - The company has decided not to recommend the distribution of a final dividend for the fiscal year ending December 31, 2024, in order to retain funds for strategic business development[81] - The final dividend for the year ended December 31, 2023, is HKD 0.10 per share, totaling HKD 128,340,350 (approximately RMB 118,073,122) to be paid on July 11, 2024[65]