BINGCHUAN(SZ:300533)2023-04-20 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year increase of 15%[25]. - The company achieved a net profit of RMB 300 million, reflecting a profit margin of 25%[25]. - The company's operating revenue for 2022 reached ¥2,046,355,721.38, representing a 303.87% increase compared to ¥506,692,551.83 in 2021[29]. - The net profit attributable to shareholders for 2022 was ¥128,861,629.45, a significant turnaround from a loss of ¥63,073,735.75 in 2021, marking a 304.30% increase[29]. - The net cash flow from operating activities for 2022 was ¥450,433,659.26, up 147.96% from ¥181,657,384.20 in 2021[29]. - Basic earnings per share for 2022 improved to ¥0.85, compared to a loss of ¥0.42 per share in 2021, reflecting a 302.38% increase[29]. - The company expects a revenue guidance of RMB 1.5 billion for the fiscal year 2023, indicating a growth target of 25%[25]. - The company reported a total revenue of 61.51 million in 2022, an increase from 61.37 million in 2021, reflecting a growth of approximately 0.23%[172]. User Growth and Engagement - The number of registered users reached 10 million, with a 20% increase compared to the previous year[25]. - The company reported a 10% increase in paying users, reaching 2 million in total[25]. - The total user base reached over 168 million by the end of Q4 2022, with active users exceeding 87 million[69]. - The company has over 34.1 million registered accounts for its self-developed game "Yuanjing OL" since its commercialization in April 2010[51]. - The mobile game "Yuanjing Mobile" has over 5.7 million registered accounts, while "Yuanjing 2 Mobile" has over 1.6 million registered accounts as of the end of the reporting period[51]. - The newly launched card game "Super World" has exceeded 18.4 million registered accounts since its release in August 2022[53]. - The RPG card game "X-HERO" has over 15.2 million registered accounts as of the end of the reporting period[53]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a revenue growth of 30% in that region by the end of 2023[25]. - The company plans to launch three new mobile games in 2023, aiming to capture a larger market share in the mobile gaming sector[25]. - The company is actively exploring new product categories and improving the quality of its games through meticulous attention to detail in various aspects[50]. - The company is focusing on enhancing product quality and user experience while expanding its overseas market presence[76]. - The company is committed to a long-term strategy that includes both domestic and international distribution, aiming for diversified growth[76]. Research and Development - The company has invested RMB 100 million in R&D for new gaming technologies, focusing on enhancing user experience[25]. - The company's R&D expenditure was ¥38,032.52 million, accounting for 18.59% of total revenue, with a year-on-year increase of 98.93%[77]. - The number of R&D personnel increased by 462, a growth of 72.53% compared to the previous year, reflecting the company's focus on maintaining a stable core technology team[105]. - New product developments include multiple projects such as "Skyland Legend" and "Code H," which are expected to enhance the company's core competitiveness[104]. - The company plans to enhance R&D efficiency and focus on quality improvement rather than quantity expansion in its projects[135]. Operational Challenges - The existing user acquisition marketing model is under pressure, with rising costs and declining conversion rates, which could affect future product promotions[7]. - The competitive landscape in the internet gaming industry is intensifying, making it challenging for the company to retain existing players and attract new ones[9]. - Rising operational costs for game promotion could adversely affect the company's profitability if market conditions change significantly[11]. - The company acknowledges the risk of losing core technical personnel, which is critical for innovation and sustained growth in a competitive market[12]. - The company faces significant risks from industry regulatory policies, which may impact its ability to operate if it fails to meet new requirements[5]. Compliance and Governance - The company emphasizes the importance of compliance with regulatory requirements during game development to avoid operational disruptions[6]. - The company is committed to strengthening its compliance system for game operations and distribution, closely monitoring industry regulations and adapting strategies accordingly[152]. - The company maintains good independence in assets, personnel, finance, and operations, adhering to legal and regulatory requirements[162]. - The company has established an independent financial department, adhering to accounting standards and maintaining separate bank accounts from controlling shareholders[165]. - The company is committed to maintaining high standards of corporate governance and transparency[193]. Talent Management - The company has implemented a talent introduction and incentive mechanism to ensure the stability of its core talent team and foster new talent development[86]. - The company has a structured remuneration decision-making process based on performance evaluation and job level[184]. - The total remuneration for the chairman and general manager Liu Heguo was CNY 1.3 million[188]. - The total number of employees at the end of the reporting period was 1,772, with 992 in the parent company and 780 in major subsidiaries[198]. - The company has implemented a long-term incentive plan for employees, which was approved during the reporting period[196]. Future Outlook - The company aims to enhance its game development capabilities and improve user experience by focusing on product innovation and technology[134]. - The company plans to strengthen its competitive edge by integrating various resources and focusing on high-quality product operations[134]. - The company will continue to address the decline in revenue from mature products by developing new versions and innovative gameplay[141]. - The company is actively seeking to recruit and cultivate talent to support its strategic goals in the gaming industry[134]. - The company aims to optimize its marketing team and adapt marketing strategies dynamically based on product testing and market demand[151].