QINGCI GAMES(HK:06633) Zhi Tong Cai Jing·2025-08-27 09:30Core 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] Financial Performance - The significant net profit growth is attributed to efficient management operations and cost control, with a substantial reduction in marketing expenses compared to the previous year, as well as favorable exchange rate fluctuations and effective foreign exchange management leading to increased exchange gains [1] Game Operations - As of June 30, 2025, the company has over 100 million registered players, a 7.56% year-on-year increase, with an average monthly active user count of approximately 1.144 million and an average monthly paying user count of about 140,600, resulting in an ARPPU of 289.79 RMB, a 5.26% year-on-year growth [1] - The changes in game operation data are primarily due to some games reaching maturity, leading to a decline in active and paying user numbers, while the introduction of new game versions and content optimization has attracted new player registrations and encouraged some returning players, enhancing user payment willingness [1] Strategic Achievements - The long-term operational effectiveness is highlighted by the flagship self-developed game "The Strong Snail," which celebrated its five-year anniversary in June 2025, successfully attracting a large number of returning players and significantly increasing user payment willingness, with ARPPU rising from approximately 200 RMB to nearly 300 RMB, a 50% increase [2] - The company is steadily advancing its global expansion, preparing for the launch of the Korean version of "The Strong Snail" in the second half of 2025, which will enhance its influence in core markets, alongside preparations for the overseas release of "Cardcaptor Sakura: Key to Memories" in Vietnam and Japan [2] - The research and development pipeline is focused on breakthroughs, with the strategic self-developed project "Project E" progressing smoothly, recently entering a "Plank Test" phase for core players, which is expected to become a milestone product for the company's future growth [2]