BOYAA(HK:00434)2022-05-26 10:55Revenue Performance - For the first quarter ending March 31, 2022, the company reported revenue of RMB 91.5 million, a year-on-year increase of 7.8% and a quarter-on-quarter increase of 4.4%[11]. - Revenue from mobile games reached RMB 62.2 million, representing a year-on-year growth of 23.7%[4]. - Revenue for Q1 2022 was approximately RMB 91.5 million, representing a year-on-year increase of about 7.8% from RMB 84.9 million in Q1 2021, driven by online operational activities and continuous optimization of game products[15]. - Revenue for the three months ended March 31, 2022, was RMB 91,524 thousand, an increase of 7.4% compared to RMB 84,919 thousand in the same period of 2021[47]. - Revenue from web games decreased by 15.5% to RMB 29,288,000, down from RMB 34,611,000 in the same period last year[75]. User Metrics - The number of paying users increased to 267,000, a year-on-year increase of 8.5%[8]. - Daily active users (DAU) decreased to 1.369 million, down 8.6% year-on-year[8]. - Monthly active users (MAU) remained stable at 4.385 million, showing a slight decrease of 0.5% year-on-year[8]. - The number of paying users increased by approximately 8.5% from about 0.2 million in Q4 2021 to about 0.3 million in Q1 2022, while daily active users rose by approximately 6.2% to about 1.4 million[13]. Profitability - The company achieved a net profit attributable to shareholders of RMB 16.2 million, compared to a loss of RMB 16.1 million in the same period last year[4]. - In Q1 2022, the company recorded an adjusted net profit of approximately RMB 16.4 million, a significant improvement from an adjusted net loss of approximately RMB 16.1 million in Q1 2021, primarily due to a year-on-year revenue increase and a reduced fair value decline of financial assets[12]. - The company’s attributable profit for Q1 2022 was approximately RMB 16.2 million, a turnaround from a loss of approximately RMB 16.1 million in Q1 2021[26]. - The group reported a profit of RMB 16,185,000 for the three months ended March 31, 2022, compared to a loss of RMB 16,118,000 in the same period of 2021, marking a significant turnaround[98]. Expenses and Costs - The cost of revenue for Q1 2022 was approximately RMB 31.3 million, a year-on-year increase of about 14.6% from RMB 27.3 million in Q1 2021, mainly due to increased revenue and higher average commission rates[16]. - Selling and marketing expenses for Q1 2022 were approximately RMB 8.9 million, a year-on-year increase of about 9.8% from RMB 8.1 million in Q1 2021, primarily due to slight increases in advertising and promotional activities[18]. - Administrative expenses for Q1 2022 were approximately RMB 22.6 million, a year-on-year increase of about 3.9% from RMB 21.7 million in Q1 2021, mainly due to a slight increase in employee compensation and benefits[20]. - The company reported a significant increase in other losses, netting RMB 12,307,000, which is a 70.2% increase year-over-year[144]. Financial Position - As of March 31, 2022, the company had cash and cash equivalents of approximately RMB 305.8 million, an increase from RMB 248.3 million as of December 31, 2021[30]. - Total assets as of March 31, 2022, were RMB 2,320,858 thousand, slightly up from RMB 2,303,650 thousand as of December 31, 2021[60]. - The company’s total equity increased to RMB 2,021,584 thousand from RMB 2,017,970 thousand, reflecting a stable financial position[62]. - The company has no significant contingent liabilities, guarantees, or legal proceedings as of March 31, 2022[44]. Investment and Fair Value - The fair value of equity investments classified as fair value through other comprehensive income was approximately RMB 20.9 million as of March 31, 2022, down from RMB 27.6 million as of December 31, 2021[32]. - The fair value changes of investments measured at fair value through profit or loss resulted in a loss of RMB 16,149,000, an improvement from a loss of RMB 39,899,000 in the previous year[79]. - The total amount of frozen funds as of March 31, 2022, was approximately RMB 681 million, which represents about 32.5% of the company's total current assets[135]. Cash Flow - Operating cash flow for the three months ended March 31, 2022, was RMB 22,584,000, a decrease of 28.5% from RMB 31,314,000 in the same period of 2021[68]. - Net cash from operating activities was RMB 20,438,000, down 28.5% compared to RMB 28,585,000 in the previous year[68]. - Cash flow from investing activities showed a net inflow of RMB 39,285,000, an increase of 30.0% from RMB 30,228,000 in the prior year[68]. Research and Development - The group recognized research and development expenses of RMB 16,677,000 for the three months ended March 31, 2022, compared to RMB 16,075,000 in the same period of 2021, reflecting an increase of about 3.7%[95].