Core Viewpoint - The company reported a significant increase in revenue and net profit for the mid-term of 2025, indicating strong operational performance and a solid foundation for long-term growth [1][2]. Financial Performance - The company achieved a revenue of 686 million yuan and a net profit of 32.95 million yuan, with an operating cash inflow of 57.86 million yuan, reflecting a year-on-year growth of 71.2% [1]. Business Strategy - The company focuses on long-term operations by introducing overseas premium games with clear user positioning and stable revenue streams, enhancing user value through refined operations [1]. - Classic products like "Subway Surfers," "Dream Garden," and "Dream Home" contributed to stable income, with "Dream Garden" showing a more than 9% year-on-year increase in average monthly active user spending [1]. Product Development - The company is deploying advanced large models in various aspects of game development, leading to improved overall R&D efficiency and game quality [2]. - The self-developed global user voice analysis platform "Fengsheng" and AI customer service system have enhanced user feedback and reduced manual intervention during the global launch of "Karabichu" [2]. Upcoming Releases - The second half of 2025 will see a concentrated release of new products, including "Karabichu," which has shown strong market potential during testing, with 46.5% of new users coming from organic spread [2]. - The company plans to launch several overseas agency games, including "Chong Chong Qibing," further diversifying its revenue sources [2]. Leadership Perspective - The chairman emphasized the company's commitment to long-termism, focusing on core gaming business and continuously creating quality content and value for users, which is seen as essential for navigating cycles and achieving value transitions [2].

Core Viewpoint - The company, Chuangmeng Tiandi (01119), reported a significant turnaround in its mid-term performance for the six months ending June 30, 2025, achieving a net profit attributable to shareholders of 28.514 million yuan, compared to a loss of 110 million yuan in the same period last year, indicating a successful recovery [1]. Financial Performance - The company's revenue for the period reached 686 million yuan, with a gross profit of 289 million yuan [1]. - The basic earnings per share were reported at 0.02 yuan [1]. Business Segments - The gaming segment remains the primary revenue driver, contributing 97.5% of total revenue for the six months ending June 30, 2025, and 97.3% for the same period in 2024 [1]. - Key titles such as "Subway Surfers," "Dream Garden," "Dream Home," and "Mecha Squad" continue to generate significant revenue, while new releases like "Legendary Store: Management and Crafting" and the jointly developed "Delta Action" with Tencent have also performed well [1].

Core Viewpoint - Company Dreamland Technology has issued a positive profit forecast, expecting a net profit between 20 million and 50 million RMB for the first half of 2025, a significant turnaround from a net loss of approximately 109 million RMB in the same period last year, primarily driven by the launch of self-developed products and new offerings [1][3]. Group 1: Financial Performance - In 2024, Dreamland Technology reported total revenue of 1.51 billion RMB, a year-on-year decline of 21%, with an adjusted net loss of 30 million RMB, marking the fifth consecutive year of performance pressure [3]. - The gaming sector remains the primary revenue source, contributing 96.2% to total revenue, although gaming revenue fell by 21.3% from 1.849 billion RMB to 1.456 billion RMB [3]. - Operating cash flow turned positive in 2024, reaching 150 million RMB, indicating a positive feedback loop [3]. Group 2: Strategic Initiatives - The company is focusing on two main strategies: introducing overseas premium games and expanding self-developed games globally [3]. - The game "Metro Surfers" has maintained a top-ten position across multiple channels, with a version payment rate increasing by 40%, reaching a five-year high [3]. - The newly launched game "Mecha Squad" achieved impressive performance in the domestic market, ranking among the top five in global revenue for mecha shooting games [3]. Group 3: Future Outlook - The game "Kara Bichu" is expected to play a crucial role in the company's turnaround, with the management expressing high hopes for its performance in 2025 [3][4]. - The company regained the publishing rights for "Kara Bichu" from Tencent in February, allowing for integrated development and operation [3]. - A recent share placement raised approximately 72 million HKD, with proceeds primarily allocated to the global strategy for "Kara Bichu," focusing on mobile and console version development to ensure a multi-platform launch in 2025 [4].

Core Viewpoint - The company has faced significant challenges in recent years, including strategic missteps and financial losses, but is now focusing on core gaming operations and self-developed projects to regain profitability, particularly through the launch of its key game, "Strinova" [1][3][31] Group 1: Company Background and Challenges - The company initially thrived by introducing popular mobile games to the domestic market but has struggled since 2020, experiencing continuous revenue decline and losses amounting to 2.5 billion yuan [1][5] - A strategic shift has occurred, with the company divesting from non-core businesses and refocusing on self-developed games, particularly "Strinova," which is seen as crucial for future profitability [3][10] Group 2: Game Development and Strategy - The company has divided its self-development efforts into two phases, with the first phase focusing on commercial projects like "Honor All-Stars," which generated over 1 billion yuan in revenue shortly after launch [6] - The second phase centers on "Strinova," a multi-platform game that has garnered significant attention due to its unique gameplay mechanics and design [8][10] Group 3: Financial Performance and Future Outlook - Recent financial reports indicate that losses have narrowed, with the company's leadership stating that achieving balance with "Strinova" is critical for future success [5][12] - The game is set to launch on multiple platforms in 2025, with expectations that it will drive significant revenue growth [12][21] Group 4: International Expansion and Market Strategy - The company is actively expanding into the Middle East, recognizing it as a key growth market due to its young population and increasing acceptance of gaming [14][15] - The company has adjusted its operational strategy for "Strinova," taking back control from Tencent to better align with user needs and preferences [16][18] Group 5: Existing Game Portfolio and Revenue Model - The company continues to leverage its existing portfolio, including long-standing titles like "Subway Surfers," which remains popular after over 11 years in the market [23][25] - Recent adjustments to the revenue-sharing model for new game releases aim to enhance financial stability and profitability [30]

Core Viewpoint - Company Dreamland Technology (创梦天地) successfully raised approximately HKD 72 million by placing around 100 million shares at HKD 0.72 per share, with funds primarily allocated for the global multi-platform development and release of its self-developed game "Kara Bichu" [1][2] Group 1: Financing and Development - The funds raised will accelerate the development and launch of the mobile and console versions of "Kara Bichu," aiming for a global release by the second half of 2025 [1][2] - The company has a strong focus on its gaming business, continuously introducing overseas premium games while actively advancing its self-developed games [1][2] - The financing is expected to inject strong momentum into the company's performance in the second half of the year, coinciding with a period of intensive product launches [1][2] Group 2: Market Position and Growth - Dreamland Technology has been operating in the overseas premium game distribution sector for 15 years, successfully managing long-lifecycle products like "Subway Surfers" and "Garden of Dreams" [1] - The company plans to release 2-3 overseas premium games annually in China, with several titles, including "Chong Chong Qibing" and "He Le Ge Hua Yuan," set to launch in the second half of 2025 [1] - The release of "Kara Bichu" on PC in November 2024 has validated its core competitiveness and user engagement, with a 50% increase in daily active users (DAU) following the introduction of a new gameplay mode [2] Group 3: Investor Confidence - The successful placement reflects market recognition of Dreamland Technology's long-term value and provides funding assurance for R&D and new product launches in the second half of the year [2] - The management believes that the multi-platform launch of "Kara Bichu" and the concentrated release of overseas premium games will likely lead to an accelerated performance release, further solidifying the company's global competitiveness [2]