飞鱼科技(01022) - 2023 - 中期财报

Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 17,907,000 (approximately 17.9 million), compared to RMB 11,524,000 for the same period in 2022, representing a year-on-year increase of 55.5%[3] - The group reported a pre-tax profit of RMB 6,770,000 for the first half of 2023, compared to RMB 7,283,000 in the same period of 2022, indicating a decrease of 7%[3] - For the six months ended June 30, 2023, the company's revenue was RMB 107,902 thousand, representing a 45.1% increase from RMB 74,343 thousand in the same period of 2022[107] - Gross profit for the same period was RMB 94,870 thousand, up 65.8% from RMB 57,206 thousand year-on-year[107] - The company reported a profit before tax of RMB 40,297 thousand, compared to a loss of RMB 6,947 thousand in the previous year, marking a significant turnaround[107] - The net profit attributable to the company's shareholders was RMB 40,262 thousand, a recovery from a loss of RMB 9,520 thousand in the prior period[107] - Basic and diluted earnings per share for the period were RMB 0.02, compared to a loss of RMB 0.01 per share in the same period last year[107] - The company reported a profit of approximately RMB 40.9 million for the six months ended June 30, 2023, compared to a loss of approximately RMB 7.8 million for the same period in 2022[173] - For the six months ended June 30, 2023, the profit attributable to the owners of the parent company was approximately RMB 40.3 million, a significant increase of 522.9% compared to a loss of RMB 9.5 million in the same period of 2022[175] Revenue Sources - Revenue from Tencent for cloud server services was RMB 1,519,000 for the six months ended June 30, 2023, compared to RMB 1,619,000 in the previous year[39] - Revenue from Tencent amounted to RMB 4,508,000 for the six months ended June 30, 2023, up from RMB 2,826,000 in the previous year[39] - Game operations revenue for the six months ended June 30, 2023, was approximately RMB 91.2 million, an increase of about 54.9% compared to RMB 58.9 million for the same period in 2022[155] - The company reported a total revenue of RMB 91,184 thousand, with RPG games contributing RMB 35,675 thousand (33.1% of total revenue) and casual games contributing RMB 47,806 thousand (44.3% of total revenue) in the first half of 2023[132] User Engagement and Market Trends - The company experienced a 2.4% year-on-year decline in the Chinese online gaming market, influenced by reduced user interest in paid online games due to the COVID-19 pandemic[110] - New game approvals in China have resumed, positively impacting the online gaming market and stimulating industry growth[110] - The company has focused on long-term value through continuous updates and new content for its game "Defend the Carrot 4," which has successfully maintained user engagement[111] - The company aims to enhance user engagement through various in-game promotions and regular updates for quality games[160] - The total registered users for RPG mobile and online games reached approximately 234.0 million as of June 30, 2023, with 173.2 million for online games and 60.8 million for mobile games[157] - Monthly Active Users (MAU) for RPG mobile and online games was approximately 1.8 million in June 2023, with mobile games accounting for 1.7 million MAU[157] Cost Management and Financial Position - Cash and cash equivalents as of June 30, 2023, amounted to RMB 134,094,000, an increase from RMB 133,153,000 as of December 31, 2022[24] - The total liabilities as of June 30, 2023, were RMB 37,450,000, a decrease from RMB 59,609,000 as of December 31, 2022[26] - The group’s cash and cash equivalents totaled approximately RMB 134.1 million as of June 30, 2023, a slight increase from RMB 133.2 million as of December 31, 2022, primarily due to cash inflows from operating activities[197] - The group’s current assets net value increased by approximately 25.1% to RMB 141.2 million as of June 30, 2023, compared to RMB 112.9 million as of December 31, 2022[196] - The company has a bank loan with a secured interest rate of 4.3% due in 2024, amounting to RMB 6,000,000[27] - The group had bank loans totaling approximately RMB 685 million as of June 30, 2023, down from RMB 700 million as of December 31, 2022, with a portion due within one year[178] Game Development and Launches - In the first half of 2023, the company launched the RPG mobile game "Xianxiandao 3," which quickly topped the Apple China App Store free chart and reached the 11th position on the best-selling chart[125] - The "Xianxiandao" series has attracted over 160 million users since its debut 12 years ago, indicating strong brand recognition and user engagement[125] - The company aims to optimize its recently launched games, including "Xianxiandao 3," "Defend the Carrot 4," and "Dougui," to expand the player base and enhance user engagement[128] - The company plans to explore opportunities to expand "Xianxiandao 3" and "Dougui" into overseas markets, adapting the games to fit different cultural preferences while retaining core gameplay elements[128] - The company continues to focus on long-term operations of its popular IP portfolio, including "Defend the Carrot" and "Xianxiandao," to lay a solid foundation for potential sequels[131] Investment and Financial Management - The company has a total of RMB 10,000,000 in fixed deposits as of June 30, 2023[47] - The company's internal investment management policy allows for at least 50% of total investments to be allocated to risk-free or capital-preserving investments, with the remaining 50% allocated to low-risk products[200] - The company maintains a diversified investment portfolio to mitigate risks, aligning with effective capital and investment management policies and strategies[200] - The fair value of non-listed equity investments is estimated using market-based valuation methods, with the board believing the derived fair value is reasonable and appropriate as of the reporting date[58] Research and Development - Research and development costs decreased by approximately 25.1% to RMB 27.6 million for the six months ended June 30, 2023, from RMB 36.9 million for the same period in 2022[169] Other Financial Metrics - The average monthly revenue per paying user (ARPPU) is calculated based on the average monthly revenue from virtual goods sales and upgrades divided by the average number of monthly paying users (MPU)[64] - Average Revenue Per Paying User (ARPPU) for mobile RPG games decreased by 55.3% to RMB 19.0 from RMB 42.5, attributed to the early lifecycle stage of "Xianxian Dao 3"[138] - The ARPPU for casual games increased by 63.5% to RMB 36.3 from RMB 22.2, mainly due to frequent updates and new features in the "Defend the Carrot" game series[138]