User Growth and Engagement - As of June 30, 2022, the total number of registered users on the Changyou Platform reached approximately 122.0 million, an increase of about 25.3 million compared to December 31, 2021[16]. - The Group expanded its user points usage by connecting with traffic portals like games and entertainment platforms, enhancing offline user engagement and retail chain services[20]. - The Group is actively building the Changyou community to provide targeted services, aiming to enhance user retention and activity[30][32]. Financial Performance - The Group recorded a consolidated revenue of approximately RMB105.4 million for the six months ended June 30, 2022, representing an increase of approximately 171.0% compared to RMB38.9 million for the same period in 2021[36][39]. - Gross profit for the same period amounted to approximately RMB15.4 million, with a gross profit margin of approximately 14.6%, up from 12.5% in the previous year[37][40]. - The loss for the period decreased to RMB 22,702,000 in 2022 from RMB 60,268,000 in 2021, reflecting a reduction of approximately 62%[92]. Cost Management - Selling and distribution expenses decreased to approximately RMB3.0 million, down from approximately RMB10.5 million in the prior year, due to reduced sales and promotion activities[43][44]. - Administrative expenses decreased to approximately RMB14.7 million from approximately RMB26.8 million, attributed to cost-saving measures including staff layoffs[46]. - Research and development costs decreased to approximately RMB6.2 million from approximately RMB17.8 million, mainly due to reduced staff costs in R&D activities[46]. Cash Flow and Liquidity - As of June 30, 2022, the Group's cash and cash equivalents amounted to approximately RMB 43.3 million, a decrease of approximately RMB 7.1 million compared to RMB 50.4 million as of December 31, 2021[49]. - The net cash outflow from operating activities for the six months ended June 30, 2022, was approximately RMB 1.1 million, compared to a net cash inflow of approximately RMB 103.4 million for the year ended December 31, 2021[49]. - The Group's financial position indicates material uncertainties that may cast significant doubt on its ability to continue as a going concern[126]. Debt and Liabilities - The total liabilities increased to approximately RMB 256.2 million as of June 30, 2022, compared to approximately RMB 253.2 million as of December 31, 2021[49]. - The debt ratio as of June 30, 2022, was approximately 1.52, up from approximately 1.33 as of December 31, 2021[49]. - The Group had total borrowings of approximately RMB 126.8 million as of June 30, 2022, compared to approximately RMB 112.3 million as of December 31, 2021[49]. Strategic Initiatives - The Group's efforts in developing a global financial platform for blockchain tokenization of assets are underway, leveraging advanced technologies like blockchain and big data[12]. - The Group aims to leverage the Changyou Points Marketing SaaS Platform to offer corporate customer-oriented products and services to SMEs/merchants, enhancing marketing channels and planning support[80]. - The Group plans to optimize its existing 2C points business and improve profitability, targeting steady profit growth based on current business scale[84]. Investments and Future Plans - The Company intends to issue HK$126.0 million 3.5% convertible bonds to expand its Digital Points Business into Hong Kong and overseas markets[51]. - The company plans to allocate HK$25 million for the development of the New International Changyou Platform, which aims to create a comprehensive database of consumer transactions and behavior[60]. - The total funding planned amounts to HK$124.4 million, with a significant portion directed towards the New International Changyou Platform[60]. Compliance and Reporting - The interim financial report has been prepared in accordance with Hong Kong Accounting Standards (HKAS) 34, ensuring compliance with applicable disclosure provisions[118]. - The Group has not applied any new accounting standards or interpretations that have not yet come into effect during the current accounting period[132]. - The Group's operations are focused solely on its electronic trading platform, with no segment information presented as it is considered the only business[133].
畅由联盟(01039) - 2022 - 中期财报