新娱科控股(06933) - 2022 - 中期财报

Financial Performance - The company's revenue for the six months ended June 30, 2022, was approximately RMB 10,155,000, a decrease of 83.6% compared to RMB 61,735,000 for the same period in 2021[6]. - Gross profit for the same period decreased by 98.4% to approximately RMB 351,000[7]. - The net loss for the period was approximately RMB 19,913,000, compared to a net profit of RMB 7,319,000 for the same period in 2021, marking a significant decline[8]. - The group reported a loss of approximately RMB 19,913,000 for the period, compared to a net profit of RMB 7,319,000 for the six months ended June 30, 2021, primarily due to a significant reduction in revenue from game releases[28]. - Total revenue for the six months ended June 30, 2022, was RMB 10,155,000, compared to RMB 61,735,000 for the same period in 2021, representing a decrease of approximately 83.7%[96]. - Revenue from variable contracts was RMB 9,377,000 for the six months ended June 30, 2022, down from RMB 53,224,000 in the same period of 2021, a decline of about 82.4%[96]. - Revenue from fixed-price contracts was RMB 778,000 for the six months ended June 30, 2022, compared to RMB 8,491,000 for the same period in 2021, a decrease of approximately 91.8%[96]. - The company reported a loss of RMB 19,889,000 for the six months ended June 30, 2022, compared to a profit of RMB 7,319,000 for the same period in 2021[109]. Game Development and Publishing - The company did not release any internally developed mobile games during the period, resulting in no revenue from proprietary game releases[16]. - As a co-publisher, the company provided publishing services for 11 third-party games, generating approximately RMB 9,377,000 in revenue, down from RMB 50,036,000 for 53 games in the previous year[17]. - The company plans to focus on developing high-quality self-developed games to enhance its market position and competitiveness[12]. - The company aims to strengthen relationships with existing clients and develop new client relationships to promote business growth and maximize shareholder returns[12]. - The company has engaged third-party contractors to optimize the game development cycle and enhance creative elements through market research capabilities[11]. - The company reported a significant decrease in revenue from self-developed mobile games and third-party mobile games due to pending approvals from the National Press and Publication Administration of China[68]. Expenses and Financial Management - Administrative expenses increased to approximately RMB 12,855,000, up from RMB 7,597,000 in the previous year, primarily due to increased promotional expenses in a competitive market[19]. - Research and development expenses increased to RMB 6,345,000 for the six months ended June 30, 2022, from RMB 4,501,000 in the same period of 2021, an increase of approximately 41.0%[103]. - The net cash flow from operating activities was negative RMB 94,943 thousand for the six months ended June 30, 2022, compared to a positive RMB 465 thousand for the same period in 2021[63]. Assets and Liabilities - As of June 30, 2022, the group’s current assets net value was approximately RMB 241,610,000, down from RMB 254,943,000 as of December 31, 2021[32]. - The group had bank and other borrowings of approximately RMB 66,611,000 as of June 30, 2022, compared to none as of December 31, 2021[33]. - The group’s debt-to-equity ratio was 24.5% as of June 30, 2022, compared to zero as of December 31, 2021[30]. - The total assets minus current liabilities amounted to RMB 272,372 thousand, a decrease of 5.4% from RMB 287,463 thousand as of December 31, 2021[50]. - The company’s current liabilities totaled RMB 75,726 thousand as of June 30, 2022, compared to RMB 12,434 thousand at the end of 2021, indicating a significant increase[50]. - As of June 30, 2022, trade receivables amounted to RMB 90,646,000, down from RMB 106,328,000 as of December 31, 2021, reflecting a decrease of approximately 14.8%[123]. - The provision for impairment losses on trade receivables increased to RMB 4,797,000, resulting in a net trade receivable of RMB 85,849,000, compared to RMB 103,809,000 as of December 31, 2021, indicating a decline of about 17.3%[123]. Cryptocurrency and Blockchain Business - The blockchain technology business generated approximately RMB 778,000 in revenue during the period, compared to zero in the same period last year[18]. - The company reported a significant increase in revenue from blockchain technology services, with earnings recognized based on the fair value of cryptocurrency received, measured at the spot price on the day of receipt[75]. - The company holds cryptocurrency as intangible assets, which are not amortized but are subject to annual impairment testing, ensuring that any impairment losses are recognized immediately when the recoverable amount is less than the carrying value[76]. - The company has established a liquidity pool for blockchain protocols, enhancing its service offerings in the cryptocurrency space[75]. - The company is committed to continuous assessment of impairment for its cryptocurrency holdings, ensuring that any potential losses are recognized in a timely manner[76]. Shareholder and Corporate Governance - The company did not recommend any interim dividend for the period[29]. - The total compensation for key management personnel for the six months ended June 30, 2022, was RMB 851,000, compared to RMB 679,000 for the same period in 2021, reflecting a year-over-year increase of approximately 25.3%[164]. - The company has adopted a share option scheme to reward eligible participants for their contributions, with a maximum limit of 40,000,000 shares, representing 10% of the issued shares at the time of listing[189]. - The share award scheme allows for a maximum of 80,000,000 shares to be issued, which is 20% of the total issued shares as of the date of the annual general meeting[193]. - The company has complied with the corporate governance code principles as of June 30, 2022[200].