正式更名！业绩承压，“贪玩”海外游戏业务发力

Core Viewpoint - The company has rebranded from Zhongxu Future to Tanwan, with a focus on revitalizing its gaming business and expanding into new markets, despite facing revenue declines and profitability challenges [3][9]. Group 1: Company Overview - Tanwan's stock will change to "Tanwan" starting September 2, following its successful listing in Hong Kong in September 2023, where the stock price rose from HKD 14 to a peak of HKD 72.45 by January 2024 [3]. - The company reported a revenue increase from CNY 2.872 billion in 2020 to CNY 8.817 billion in 2022, but has since experienced a decline, with projected revenue dropping to CNY 5.58 billion in 2024 [3]. Group 2: Financial Performance - In the latest financial report, Tanwan achieved revenue of approximately CNY 2 billion, a year-on-year decrease of 37.9% [4]. - The self-operated game products generated CNY 1.39 billion, down 44.1%, while the revenue from the cooperative operation model was CNY 565 million, a decrease of 15.5% [4]. - The company turned a profit of approximately CNY 650 million in the first half of the year, compared to a loss of CNY 385 million in the same period the previous year [5]. Group 3: Profitability and Margins - Despite the profit turnaround, Tanwan's gross profit decreased to CNY 1.21 billion, a decline of 48.7% year-on-year, resulting in a gross margin of 60.5%, down 12.8 percentage points [6]. Group 4: Market Expansion - The share of overseas revenue increased to 15.6%, with overseas game business revenue reaching CNY 313.5 million, a 9.2% increase from the previous year [7]. - The company has successfully launched over 30 multilingual games in various international markets and has a pipeline of more than ten overseas games [7]. Group 5: Future Strategies - Tanwan is actively developing new games, including adaptations of popular IPs and small program games, which are seen as key to future growth [8]. - The company aims to leverage its experience in game promotion and operation to innovate and adapt classic IPs for new platforms [8].