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家乡互动(03798) - 2021 - 年度财报
HOMELAND ITLHOMELAND ITL(HK:03798)2022-04-26 08:49

Financial Performance - The company achieved a revenue of RMB 1.287 billion in 2021, representing a year-on-year growth of 66.8%[5] - Adjusted net profit for the year was RMB 511.55 million, an increase of 22.3% compared to the previous year[5] - The company reported a revenue of approximately RMB 1,287.7 million and a gross profit of RMB 958.8 million for the year ended December 31, 2021, representing an increase of approximately 66.8% and 61.9% year-over-year, respectively[9] - The company's profit attributable to owners increased by approximately 28.1% to RMB 500.7 million from RMB 390.8 million in 2020[22] - The company reported a net profit of RMB 500,713,000 for the year ended December 31, 2021, compared to RMB 497,139,000 in the previous year, representing an increase of approximately 0.35%[153] - Total revenue for the year ended December 31, 2021, was RMB 1,287,722 thousand, representing a 66.5% increase from RMB 772,034 thousand in 2020[146] - Gross profit for 2021 was RMB 958,828 thousand, up from RMB 592,088 thousand in 2020, indicating a gross margin improvement[146] User Engagement and Growth - The company reported 9.06 million daily active users (DAU), a growth of 20.4% year-on-year, and 15.48 million paying users, which is a significant increase of 176.7%[7] - The number of Daily Active Users (DAUs) increased to 9,055,550, a growth of 20.4% compared to the previous year[10] - The number of paying users reached 15,475,277, marking a significant increase of 176.7% year-over-year[10] - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[33] - User retention rates improved to 80%, up from 70% last year, indicating stronger customer loyalty[34] Research and Development - Research and development expenses increased by 61.6% in 2021, focusing on enhancing game development and technical infrastructure[7] - The company invested approximately RMB 97 million in research and development in 2021, a 61.7% increase from RMB 60 million in 2020[10] - The company is investing $10 million in research and development for innovative gaming technologies over the next two years[37] Market Expansion and Strategy - The company plans to expand its game offerings by launching more casual games and localizing gameplay variants to cover the entire country[11] - The company plans to expand its overseas product offerings in regions such as Hong Kong, Macau, Taiwan, Europe, the United States, Southeast Asia, and the Middle East in 2022[11] - The company plans to explore opportunities for strategic acquisitions or partnerships with local small and medium-sized mobile game developers to enhance game-related resources and operational capabilities[31] - The company plans to continue implementing growth strategies to solidify its leading position in the localized mobile card game industry in China for 2022[47] Financial Position and Equity - The total equity of the company reached RMB 1.440 billion by the end of 2021, up from RMB 949.35 million in 2020[6] - As of December 31, 2021, the company had cash and cash equivalents of approximately RMB 1,125.2 million, an increase from RMB 732.7 million as of December 31, 2020[26] - The company's total assets reached RMB 1,487,074 thousand, compared to RMB 956,453 thousand in 2020, marking a substantial growth in the asset base[148] - The company reported a net asset value of RMB 1,211,306 thousand, significantly higher than RMB 728,850 thousand in the previous year[148] Expenses and Costs - Sales costs rose by approximately 82.8% to about RMB 328.9 million in 2021 from RMB 179.9 million in 2020, primarily due to increased commissions paid to third-party distribution channels[14] - Selling and marketing expenses surged by approximately 162.4% to RMB 317.3 million, driven by increased advertising efforts[18] - Administrative expenses rose by approximately 84.0% to RMB 99.3 million, primarily due to increased employee benefits and professional service fees[19] Corporate Governance - The board consists of nine directors, including five executive directors and four independent non-executive directors[108] - The company has adopted the corporate governance code and has complied with applicable provisions during the reporting period[105] - The board is collectively responsible for guiding and supervising the company's affairs, including strategy formulation and monitoring execution, as well as ensuring effective internal controls and risk management systems[112] Shareholder Information - The company has maintained a public float of over 25% of its issued share capital as of the report date[102] - The company has not purchased, sold, or redeemed any of its listed securities during the year ended December 31, 2021[101] - The company’s independent auditor confirmed that there are no annual caps required for related party transactions for the year ended December 31, 2021[79] Risks and Compliance - The company faces several risks related to contractual arrangements, including potential non-compliance with Chinese laws, which could lead to severe consequences such as the annulment of agreements[75] - The introduction of the new Foreign Investment Law creates uncertainties regarding its interpretation and impact on the company's structure and operations[75] - The group primarily depends on self-generated user traffic but also utilizes various third-party game distribution channels, including major mobile manufacturers and online app stores, to promote its games[46] Revenue Recognition - The company recognizes revenue upon the transfer of control of goods or services to customers, with performance obligations being fulfilled at a point in time or over time depending on specific criteria[166] - The group’s revenue from self-developed mobile games comes from virtual token and private game room card sales, with revenue recognized when customers use these tokens and cards[169] - Deferred revenue is recorded as a liability until customers consume the virtual tokens and private game room cards, reflecting the group's responsibility to provide services[169] Charitable Contributions - The company has committed RMB 20 million in charitable donations in response to social responsibilities during various crises, including the COVID-19 pandemic[8] - The company made charitable donations of approximately RMB 5 million during the reporting period[97]