G-bits(SH:603444) Xin Lang Cai Jing·2025-10-30 00:33Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, with total revenue reaching 4.486 billion yuan, a year-on-year increase of 59.17%, and net profit attributable to shareholders at 1.214 billion yuan, up 84.66% [1] - The third quarter alone saw revenue of 1.968 billion yuan, representing a year-on-year growth of 129.19% and a quarter-on-quarter increase of 42.37%, with net profit of 569 million yuan, up 307.70% year-on-year and 57.58% quarter-on-quarter [1] - The company plans to distribute a cash dividend of 60 yuan per 10 shares to all shareholders [1] Financial Performance - Key financial metrics for the first three quarters include a gross margin of 93.31% (up 4.9 percentage points year-on-year) and a net profit margin of 33.61% (up 4.6 percentage points year-on-year), with the third quarter net profit margin at 34.96% (up 3.1 percentage points quarter-on-quarter) [1] - The sales expense ratio for the first three quarters was 32.18% (up 4.3 percentage points year-on-year), while the management expense ratio was 7.14% (down 2.3 percentage points year-on-year) and the R&D expense ratio was 14.25% (down 6.5 percentage points year-on-year) [1] Game Performance - The main source of revenue growth comes from new game launches, with the newly released games contributing significantly to profits. The core mobile game "Wandao Mobile" generated 1.499 billion yuan, a decrease of 7.02% year-on-year, while the two versions of "Zhangjian Chuan Shuo" contributed over 1.6 billion yuan in revenue [2] - The newly launched "Wanjian Changsheng (Mainland Version)" contributed 713 million yuan, with 147 million yuan in Q3, and the mini-game "Daoyou Lai Wabai" generated 316 million yuan, totaling 2.673 billion yuan from new games by the end of Q3 [2] - The company's overseas revenue reached 588 million yuan, a year-on-year increase of nearly 60%, indicating resilience in the overall product matrix despite a slight decline in older products [2] Future Outlook - The company is expected to continue its global expansion with the upcoming launch of "Wanjian Changsheng" in Q4 2025 in regions such as Hong Kong, Macau, and South Korea, along with the release of the new Three Kingdoms-themed SLG mobile game "Jiubing Zhi Ye" [2] - The company maintains a positive outlook on the performance of new games and their contribution to sustained revenue growth [3]