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蓝港互动(08267) - 2023 Q3 - 季度财报
LINEKONGLINEKONG(HK:08267)2023-11-14 12:09

Financial Performance - For the third quarter of 2023, the company reported revenue of RMB 10,115,000, a decrease of 45.4% compared to RMB 18,642,000 in the same period of 2022[6]. - The gross profit for the nine months ended September 30, 2023, was RMB 24,786,000, representing an increase of 23.5% from RMB 20,068,000 in the previous year[6]. - Operating loss for the third quarter was RMB 7,642,000, an improvement from a loss of RMB 10,490,000 in Q3 2022[6]. - The company incurred a total comprehensive loss of RMB 17,936,000 for the third quarter, compared to a loss of RMB 590,000 in the same quarter last year[7]. - For the nine months ended September 30, 2023, the company reported a total comprehensive loss of RMB 25,200 thousand, compared to a total comprehensive loss of RMB 21,715 thousand for the same period in 2022[8][9]. - The company experienced a net loss of RMB 20,081 thousand for the nine months ended September 30, 2023, which is a decrease from a net loss of RMB 45,288 thousand in the same period of 2022[8][9]. - The company reported a net financial income of RMB 517,000 for the nine months ended September 30, 2023, compared to a net financial cost of RMB 982,000 in the previous year[6]. - The adjusted net loss for the nine months ended September 30, 2023, was approximately RMB 15 million, a decrease of 54.4% from RMB 32.8 million in the same period last year, mainly due to revenue recognition from "Ys: The Oath in Felghana" and further cost reductions[58]. Revenue Breakdown - The gaming business generated revenue of RMB 10,002 thousand for the three months ended September 30, 2023, down 32% from RMB 14,661 thousand in the same period last year[20]. - The film and television business reported revenue of RMB 113 thousand for the three months ended September 30, 2023, a significant decline from RMB 3,981 thousand in the prior year[20]. - Game business revenue contributed approximately RMB 57 million, representing a 9.9% increase or RMB 5.2 million compared to the same period in 2022, primarily due to revenue from the exclusive global release of "Ys: The Oath in Felghana" by Bilibili[48]. - The film and television business generated approximately RMB 51.6 million, a significant increase of 1,071.7% or RMB 47.2 million compared to RMB 4.4 million in the same period last year, mainly due to revenue recognition from "More Than Just Likes"[49]. Expenses and Costs - The total operating expenses, including sales and marketing, administrative, and R&D, amounted to RMB 26,102,000 for the nine months ended September 30, 2023, down from RMB 55,624,000 in the previous year[6]. - The company's total costs for the nine months ended September 30, 2023, were approximately RMB 83.9 million, an increase of 52.5% or RMB 28.9 million from RMB 55 million in the same period in 2022[50]. - Sales and marketing expenses decreased by 73.5% to approximately RMB 5.5 million from RMB 20.7 million in the same period last year, due to a reduction in promotional spending[52]. - Administrative expenses decreased by 19.2% to approximately RMB 21.2 million from RMB 26.3 million in the same period last year, primarily due to a reduction in impairment losses on game and film IPs[53]. - Research and development expenses increased by 4.3% to approximately RMB 19.1 million from RMB 18.3 million in the same period last year, reflecting increased investment in self-developed games[54]. Shareholder Information - As of September 30, 2023, the company has a total of 367,974,964 issued shares[76]. - Mr. Wang Feng holds 66,576,160 shares, representing approximately 21.53% of the company's equity[73]. - Major shareholder Zhu Li has a spouse's interest in 79,216,540 shares, equating to 21.53% of the company's equity[81]. - The company has a significant interest in its subsidiary, Blueport Online, with Mr. Wang Feng holding 75.45% of its registered capital[76]. - The company has no other directors or key executives with any interests in shares or related securities as of September 30, 2023[80]. Business Strategy and Focus - The company aims to enhance its market presence and product offerings through ongoing research and development initiatives[5]. - The company is focusing on the development of new mobile games, including "Naughty Heaven 2" and "Ys VIII," with ongoing testing and a planned release for external testing in Q4 2023[31]. - The company is expanding its market presence in overseas regions, with the game "Primal Era" launched in Thailand in Q2 2023 and "The Great Voyage" maintaining stable operations in South Korea[31]. - The company plans to continue focusing on IP expansion, female-oriented and casual games, and Web3 initiatives in the fourth quarter of 2023, aiming to create engaging products and explore financial innovations in the gaming industry[45]. Cryptocurrency and Financial Management - The company has purchased a total of 97.6621 units of Bitcoin for approximately $2.8 million as part of its asset allocation strategy, amid rising Bitcoin prices[43]. - The approval of Bitcoin ETFs by the SEC is expected to catalyze Bitcoin's adoption as an emerging asset class, influencing the company's investment strategy[43]. - The company emphasizes a cautious approach to cryptocurrency investments due to market volatility and potential financial losses[44]. - The company has invested most of its idle funds in fixed deposits with Chinese commercial banks, adopting a prudent financial management approach[60]. Corporate Governance - The company has an independent board structure with independent non-executive directors making up 50% of the board[96]. - The audit committee was established on April 24, 2014, and is chaired by an independent non-executive director[97]. - The board believes that having the same individual serve as both chairman and CEO enhances the consistency of the company's leadership direction[96].