UBISOFT REPORTS FULL-YEAR 2024-25 EARNINGS FIGURES Assassin’s Creed® Shadows release prompted very strong praise from players and delivered a solid performance, clearly ahead of Assassin’s Creed® Odyssey, highlighting the strength of the brand. FY2024-25 performance broadly in line with targets, FCF at €128m: Net bookings: €1.85bn, slightly below objective, mainly reflecting lower than expected partnerships, notably due to a timing impactNon-IFRS operating income in line with guidance Free Cash Flow ahead ...

Hasbro (HAS) FY Conference Summary Company Overview - **Company**: Hasbro, Inc. (HAS) - **Date of Conference**: May 14, 2025 - **Key Speakers**: Gina Gedder (CFO and COO) Key Points Organizational Changes and Strategy - Hasbro is undergoing a multi-year transformation, with approximately two and a half years completed and another two and a half years expected to finalize the process [8][9] - The initial focus was on simplifying operations, reducing complexity, and divesting from the eOne entertainment business [9] - SKU count has been reduced by nearly 80%, and efforts have been made to clean up inventory and balance sheets [10] - The "Playing to Win" strategy was launched in February, emphasizing play, partnership, and profitability [10][12] - The strategy includes three business categories: growth, optimized, and reinvent, with growth businesses accounting for about 75% of revenue [12][13] Financial Performance and Projections - Midterm revenue growth target is set at a mid-single-digit rate, with annual margin expansion of 0.5 to 1 percentage point [26] - The first quarter saw a 46% growth in the Magic business, indicating strong demand and player engagement [30][34] - The company has not observed significant changes in consumer behavior despite tariff pressures, with holiday sales expected to remain strong [38][40] Tariff Impact and Pricing Strategy - The company is navigating tariff implications, with a recent reduction in anticipated tariff rates from 145% to 30%, which is expected to lessen the financial burden [42][50] - Pricing strategies are being adjusted based on the new tariff landscape, with a focus on maintaining competitive price points [46][48] - Approximately 45-50% of the product portfolio is priced at $20 or less, which is crucial for consumer accessibility [46] Balance Sheet and Debt Management - Hasbro has prioritized balance sheet health, focusing on inventory management and debt reduction following the eOne acquisition [66][68] - Inventory levels are reported to be healthy, returning to pre-COVID levels, allowing for better cash flow management [66] - The company aims to reduce debt to around 2.5 times leverage, with ongoing efforts to buy back or pay down debt [68] Future Growth and Investment - Hasbro is committed to investing in growth opportunities, particularly within the Wizards segment, which includes video games and other gaming initiatives [62][63] - The company is exploring direct-to-consumer sales channels, which currently represent a $100 million business [77] - Future plans include potential share buybacks starting in 2026, contingent on debt reduction and cash flow from new game launches [87][88] Consumer Trends and Market Position - Hasbro is adapting to changing consumer behaviors, particularly the shift towards digital gaming, while leveraging its IP across various platforms [72][74] - The company is focusing on improving demand planning and supply chain management in response to the loss of traditional retail partners like Toys R Us [80][79] Additional Insights - The executive team has undergone significant changes, with about 70% of leadership being new to their roles [15][16] - AI implementation is in the early stages, aimed at enhancing operational efficiency and analytical capabilities [19][20] - The company is actively reshoring some production to the U.S. to mitigate supply chain risks [55]

【受一季报业绩提振，大股东 Prosus 股价上涨近 4%，创四年多新高】5 月 14 日晚间，控股发布 2025 年第一季度财报。当季实现营业收入 1800 亿元人民币，同比增长 13%；毛利 1005 亿元，同比增长 20%；净利润（Non-IFRS）613 亿元，同比增长 22%；公司权益持有人应占盈利 478.21 亿元，同比增 长 14%。 为加强投资者回报，截至 2025 年 3 月 31 日止三个月内，控股于港交所以约 171 亿港元购回 共 4298.4 万股股份，购回股份已被注销。 今年一季度，各项业务均维持较快增长态势。增值服务业务 方面，一季度收入同比增长 17%至 921 亿元。多款游戏流水创新高，新游戏表现出色。视频、音乐保 持领先地位。营销服务收入同比增长 20%至 319 亿元。金融科技及企业服务业务收入同比增长 5%至 549 亿元。 AI 能力对多项业务有贡献，公司加大对新 AI 机遇投入。多项 AI 产品团队调整，元宝接入 模型并迭代，微信上线 AI 助手元宝。 4 月 22 日，SPARK2025 游戏发布会举行，发布 46 款产品动态， 重点游戏开启预约/测试，部分游戏 ...

Group 1 - The major shareholder of Zhangqu Technology, Liu Huicheng, plans to reduce his stake by up to 27.2 million shares, which is approximately 1% of the total share capital, due to personal financial needs [1][2] - Following the announcement, Zhangqu Technology's stock price fell by 1.64%, closing at 4.81 yuan per share, indicating a potential cash-out of around 130 million yuan for Liu Huicheng [1][2] - Liu Huicheng currently holds 169 million shares, representing 6.23% of the company's total share capital, and the reduction period is set from June 5, 2025, to September 4, 2025 [1][2] Group 2 - Zhangqu Technology reported a revenue of 819 million yuan for 2024, a decline of 16.61% year-on-year, and a net profit of 111 million yuan, down 40.68% from the previous year [3][4] - The company's revenue has decreased for four consecutive years since 2021, with the current revenue being halved compared to 2020, when it was 1.789 billion yuan [2][4] - In the first quarter of 2025, Zhangqu Technology achieved a revenue of 162 million yuan, a year-on-year decrease of 36.62%, and a net profit of 27.86 million yuan, down 50.04% [4]

AI新三年，从技术探讨，到产品应用，一步一步更实际，更落地。 游戏作为科技进步先行试验田，又因科技的发展迸发出了哪些新可能？ 近期，36氪游戏受邀参加「创新壬」的播客节目，以身处行业中"新"媒体代表的身份，与"新"资本代表「Pacer venture studio」创始合伙人朱春涛一起，围 绕和游戏&AI有关的新技术、新市场、新玩家展开讨论，聊聊未来的新趋势。 扫码收听本期全部内容 【嘉宾介绍】 朱春涛 | Pacer venture studio 创始合伙人 Future of AI Driven Creativity，让每个创意都能被世界看到。 刘士武 | 36氪游戏 主编 以科技视角，解析游戏产业发展浪潮。 以下为对话实录内容（有删减）： 游戏+Venture studio的独特结合 创新壬：我们发现今年确实出现了很多不同形态的新基金。模式上各有千秋，但大家都是在新时代在做一些新的事情，那你们为什么会选择游戏这个行业 切入呢？你会觉得游戏和venture studio 这个模式上会有更好的结合度吗？ 春涛：分内因和外因来讲。内因来说，我们团队背景具备丰富的游戏产业上下游的资源以及经验，这个方向我们能有相 ...

Vtech Holdings (00303) H2 2025 Earnings Call May 14, 2025 02:00 AM ET Speaker0 Good afternoon, ladies and gentlemen, and welcome to all our viewers online. Today, Vitae Holdings Limited is announcing its results for the year end, the 03/31/2025. Let me introduce our management. Mr. King Pei, Executive Director and Group President Mr. Alan Wong, Chairman and Group CEO of Itau Holdings Mr. Andy Leung, Executive Director and CEO of Contract Manufacturing Services and Ms. Sarin Tong, Group Chief Financial Offic ...

Core Insights - Despite a decline in global mobile game downloads and new game releases, player spending is projected to grow by 4% in 2024, indicating increasing market concentration with a few leading products dominating the landscape [1][7] - The speed at which new hit games achieve $1 million in revenue has reached a historical record, taking only 106 days to surpass this threshold [1] - The number of new games achieving $1 million in revenue has decreased significantly, with only 399 games reaching this milestone in 2024, a 43% drop from the previous year [3] - The gaming industry is facing challenges in sustainable profitability, with many companies forced to cut projects and lay off staff due to high development and customer acquisition costs [7] - Tencent's mobile game revenue in 2024 is four times that of its nearest competitor, Scopely, with its titles "Honor of Kings" and "PUBG Mobile" ranking in the global top four for revenue [7] - In 2024, new games contributed less than $4 billion to the total revenue of $65.7 billion, with 80% of new hit games coming from Chinese developers [8] - The U.S. players lead globally in download spending at $6.43 per download, which is 4.2 times the global average of $1.52, reflecting strong consumer potential in developed markets [8] - The mobile gaming market is experiencing two paradoxes: the lifecycle of older products is extending, while the window for new games to break through is significantly shortening [12]

Core Insights - Giant Network announced a collaboration with ByteDance's Volcano Engine in the AI sector, integrating the Doubao large model into the social deduction game "Space Kill" to enhance its AI-native gameplay [1] - The partnership aims to leverage Volcano Engine's machine learning platform to provide efficient large model training and computational resources for the iterative optimization of Giant Network's self-developed large models [1][3] Group 1: AI Integration and Development - The games "Original Journey" and "Space Kill" are also utilizing DeepSeek-R1 through Volcano Ark to enhance game interaction experiences with full-stack AI services [3] - Giant Network has positioned itself as a leader in embracing the AI wave, having built comprehensive AI foundational capabilities centered around self-developed large models over the past two years [3] - The company has established an efficient AI production chain across various domains including image, video, voice, code, text, and strategy, achieving an industrialized AI pipeline and a multi-modal full matrix layout [3] Group 2: Strategic Partnerships and Investments - Giant Network is expanding its upstream and downstream collaborations and investment strategies, deepening AI cooperation with Alibaba Cloud to enhance AI applications in gaming scenarios and computational ecosystem construction [3] - The company participated in the latest financing round of the AI image generation startup LiblibAI, becoming an investor and planning to establish closer cooperation with the Liblib community [3] - Future plans include continued collaboration with Volcano Engine to explore new paradigms of game content and interaction based on the Doubao large model and Jimeng AI [4]

Group 1 - The gaming sector is experiencing fluctuations, with the gaming ETF (159869) showing slight gains, led by Xunyou Technology, which rose nearly 4% [1] - A-share gaming companies reported better-than-expected Q1 2025 results, with Century Huatong, Kaiying Network, Giant Network, G-bits, Perfect World, and Iceberg Network performing well [1] - Century Huatong achieved a revenue of 8.145 billion yuan in Q1 2025, a year-on-year increase of 91.12%, and a net profit of 1.35 billion yuan, up 107.2% [1] Group 2 - The performance of 37 Interactive Entertainment was under pressure in Q1 2025, with revenue declining by 10.67% to 4.243 billion yuan and net profit down 10.87% to 549 million yuan [1] - Perfect World reported a revenue of 2.023 billion yuan in Q1 2025, a year-on-year increase of 52.22%, with its gaming business generating 1.418 billion yuan, up 10.37% [1] - Analysts predict continuous improvement in performance from Q2 2025 onwards, driven by the launch of new products and the emergence of AI games [2]

但随着企业规模扩张与战略调整，11公里长的科韵路逐渐出现辐射外溢现象。广州"东进"战略推动下的 鱼珠片区，成为游戏企业寻找发展新空间的选择。 鱼珠片区的"游戏谷"，位于广州人工智能与数字经济试验区，地处珠江东岸，其前身是传统工业区域。 通过城市更新与产业规划，这里正转型为游戏产业集聚地。项目分两期开发，目前已形成"六横四纵两 地铁两总站"的交通网络。国际港航中心、保利鱼珠港等载体中，近百家游戏企业入驻，覆盖研发、制 作、发行等全产业链环节。同时，广州还打造出一条集政务服务、版权服务、土地资源于一体的全链条 配套服务体系。 南方财经全媒体记者魏彤广州报道 自广州游戏产业规模突破千亿后，其空间布局与发展模式的变革愈发显著。尤其是以鱼珠片区崛起的一 张响亮产业名片跃然而出——广州"游戏谷"，与深圳"机器人谷"形成差异化竞争的"双城双谷"格局，引 发区域经济研究者关注。 曾被称为"中国游戏第一街"的科韵路，曾是广州游戏产业的核心载体。这里不仅聚集着网易游戏等头部 企业，还衍生出完整的上下游生态，涵盖中小游戏公司、美术外包及音效制作等细分领域。根据广州市 游戏行业协会发布的《2024年广州游戏行业发展报告》，2024年 ...