ARCHOSAUR GAMES(HK:09990) 智通财经网·2025-08-22 11:52Core Viewpoint - Zulong Entertainment reported a significant increase in revenue and a reduction in net loss for the first half of 2025, indicating a strong performance driven by successful game launches and ongoing product popularity [1][2]. Financial Performance - In the first half of 2025, Zulong Entertainment achieved a revenue of 634.3 million yuan, representing a year-on-year growth of 44.4%, following growth rates of 25.6% in 2024 and 55.5% in 2023, marking a "three consecutive increases" in revenue [1]. - The adjusted net loss was reduced by 93.6% compared to the same period last year, reflecting continuous improvement in operational conditions [1]. Game Development and Strategy - The revenue growth was primarily attributed to the successful launches of "Dragon Tribe: Cassel Gate" and "Treading Wind" in the second half of 2024 and the first half of 2025, respectively, along with the stable performance of "Shining Name" [1]. - Zulong Entertainment emphasizes a "research and operation integration" model, allowing real-time feedback from operations to inform game development, thereby increasing the likelihood of creating successful titles [3]. Global Expansion and Market Strategy - The company is committed to a global strategy, customizing approaches for different markets while focusing on local market characteristics to enhance game quality and service [2]. - "Dragon Tribe: Cassel Gate" received widespread acclaim, achieving high rankings in iOS sales charts in Hong Kong and Taiwan, and also performed well in Thailand upon its release [2]. Product Quality and Profitability - Zulong Entertainment maintains a gross margin above 70%, showcasing its competitive edge in the industry, supported by effective cost management and a strong global distribution system [3]. - The company plans to explore AI applications in game development, aiming to enhance game dynamics through intelligent NPCs and the integration of user-generated and AI-generated content [3].