
Core Insights - Qingci Games (06633) reported a mid-year revenue of approximately 247 million RMB for 2025, with a gross profit of around 154 million RMB and a net profit of 72.67 million RMB, representing a 90.2% increase compared to the same period last year, indicating a continuous improvement in profitability [1] - The growth in net profit is attributed to efficient management operations, significant reduction in marketing expenses, and favorable foreign exchange fluctuations leading to increased exchange gains [1] Financial Performance - Revenue: Approximately 247 million RMB [1] - Gross Profit: Approximately 154 million RMB [1] - Net Profit: 72.67 million RMB, up 90.2% from 38.20 million RMB year-on-year [1] Game Operations - Cumulative registered players exceeded 100 million, a year-on-year increase of 7.56% [1] - Monthly average active users: Approximately 1.144 million [1] - Monthly average paying users: Approximately 140,600 [1] - ARPPU reached 289.79 RMB, a year-on-year growth of 5.26% [1] - User engagement improved through new game versions and content optimization, attracting new players and re-engaging existing ones [1] Strategic Achievements - Long-term operation success with flagship game "The Strongest Snail" celebrating its fifth anniversary, leading to a significant increase in user spending during the anniversary event, with ARPPU rising from approximately 200 RMB to nearly 300 RMB, a 50% increase [2] - Global expansion efforts are underway, with preparations for the Korean version of "The Strongest Snail" expected to launch in the second half of 2025, alongside ongoing preparations for overseas releases in Vietnam and Japan [2] - The development of the strategic self-developed title "Project E" is progressing well, with recent core player testing initiated to accelerate game iteration, aiming to become a milestone product for future growth [2]