Core Viewpoint - Shenzhen Iceberg Network Co., Ltd. has significantly turned its performance around in the first three quarters of the year, projecting a net profit of between 4.35 billion to 5.65 billion yuan, compared to a loss in the same period last year [1][2]. Financial Performance - The company expects a net profit attributable to shareholders of 4.35 billion yuan to 5.65 billion yuan, and a net profit excluding non-recurring gains and losses of 4.17 billion yuan to 5.42 billion yuan, marking a substantial turnaround from a loss of 46.69 million yuan in the previous year [2]. - In Q3, the projected net profit is between 1.46 billion yuan to 1.88 billion yuan, representing a year-on-year increase of 202.88% to 290.01% [2][3]. - The net profit excluding non-recurring gains and losses for Q3 is expected to be between 1.40 billion yuan to 1.82 billion yuan, with a year-on-year increase of 201.41% to 291.83% [2][3]. Cost Management - The significant improvement in performance is attributed to effective control of sales expenses, which have decreased substantially compared to the previous year [3]. - The company has been cautious in launching new products, optimizing their marketing strategies based on prior data and long-term operational performance [3]. Historical Context - In the first quarter of 2024, the company adopted an aggressive customer acquisition strategy, resulting in sales expenses of 855 million yuan, a 168.36% increase year-on-year, but this did not yield effective conversion, leading to a revenue decline of 18.76% [7]. - The total sales expenses for 2024 reached 2.302 billion yuan, a 32.04% increase, while the annual revenue was only 2.788 billion yuan, a mere 0.17% growth [7]. Product Development - Currently, the company has six new products in development, including MMORPG mobile game "Code: Q" and casual competitive game "Code: SS," which are in the testing phase [7].