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 Insights - The report titled "2025 China Game Overseas Guide - UK Edition" was jointly developed by Gamma Data and the China Audio-Video and Digital Publishing Association's Game Working Committee, providing a comprehensive analysis of the UK gaming market for Chinese game companies looking to expand overseas [1][2]. Group 1: UK Gaming Market Overview - The UK gaming industry is a key pillar of the digital entertainment sector, contributing significantly to the country's cultural soft power [2]. - The market size peaked at £4.9 billion (approximately ¥46 billion) during the COVID-19 pandemic in 2020, reflecting a 29% year-on-year growth compared to 2019, and accounted for about 50% of the digital entertainment industry [2][6]. - In 2024, the UK gaming industry is projected to be worth £4.6 billion, making it the second-largest gaming market in Europe [6]. Group 2: Market Segmentation and Trends - The console gaming segment remains the largest in the UK, holding a 51% market share, while mobile gaming is steadily increasing, accounting for 34% [11][13]. - The mobile gaming market has shown consistent growth over the past five years, with a market size of £1.58 billion in 2024, driven by a high willingness to pay among younger players [17][25]. - Casual gaming genres such as puzzle, gambling, and strategy dominate the mobile gaming market, collectively accounting for 53% of revenue [19][21]. Group 3: Tax Incentives and Compliance - The UK has implemented a video game tax relief policy, allowing companies to claim a 34% tax deduction on qualifying expenditures, with over £5 billion in tax relief provided since its inception [7][8]. - Compliance with regulations such as the General Data Protection Regulation (GDPR) and the Online Safety Act (OSA) is essential for game developers operating in the UK [45][46]. Group 4: Player Behavior and Preferences - Over 62% of UK gamers identify as casual or light gamers, indicating a preference for simple and accessible gaming experiences [31]. - The smartphone is the most popular gaming platform among UK players, with a 36.2% preference, highlighting a shift towards mobile gaming [33]. - Female players tend to favor casual genres like puzzle and life simulation, while male players are more inclined towards competitive and strategy games [35]. Group 5: Marketing and Localization Strategies - UK players prefer "cold humor" in game narratives, contrasting with the more exaggerated "hot humor" typical in American media, suggesting a need for culturally sensitive storytelling [37][38]. - Recommendations for new games primarily come from friends and gaming influencers, emphasizing the importance of community engagement and local marketing strategies [40]. - Social media platforms like TikTok are gaining traction, especially among female users, indicating potential for targeted marketing campaigns [41].

创梦天地(01119)再涨超9%，截至发稿，涨9.57%，报1.26港元，成交额2846.24万港元。 公开资料显示，PLR Worldwide Sales Limited主营业务为手机游戏的开发、多平台营销、分销及运营 等，主要产品有《梦幻花园》《梦幻家园》等，这两款游戏一直为创梦天地持续贡献较高的收益。董事 认为，资本化事项将引入长期合作的上游开发商成为战略股东；保留集团的现金流以应对其未来的业务 发展；及强化集团的财务状况。 消息面上，7月29日，创梦天地发布公告，与欧洲休闲游戏巨头Playrix旗下PLR Worldwide Sales Limited 签订资本化协议。后者将以每股1.024港元认购创梦天地约3808万股，投资总额3900万港元。交易完成 后，Playrix将持有创梦天地约2.11%股份。有市场人士认为，公司接受Playrix的入股，或许在为《卡拉 彼丘》的海外发行搭桥铺路。 ...

Group 1 - The core point of the article is that Dreamland (01119) has seen a stock price increase of over 9%, currently trading at 1.26 HKD with a transaction volume of 28.46 million HKD [1] - On July 29, Dreamland announced a capital agreement with Playrix's PLR Worldwide Sales Limited, which will subscribe to approximately 38.08 million shares at 1.024 HKD per share, totaling an investment of 39 million HKD [1] - Following the transaction, Playrix will hold approximately 2.11% of Dreamland's shares, indicating a strategic partnership that may facilitate the overseas release of the game "Caribbean" [1] Group 2 - PLR Worldwide Sales Limited specializes in mobile game development, multi-platform marketing, distribution, and operation, with key products like "Garden Dreams" and "Home Dreams," which have significantly contributed to Dreamland's revenue [1] - The board believes that this capital agreement will introduce a long-term cooperative upstream developer as a strategic shareholder, preserve the group's cash flow for future business development, and strengthen the group's financial position [1]

Group 1 - The company, Dreamland (01119), announced a capitalization agreement with a subscriber, agreeing to issue 38.0859 million subscription shares at a price of HKD 1.024 per share, which will offset the franchise fees owed to the subscriber [1] - The subscription shares represent approximately 2.11% of the company's expanded issued share capital post-capitalization, assuming no other changes in the issued share capital [1] - The subscription price of HKD 1.024 per share reflects a discount of about 3.40% compared to the closing price of HKD 1.06 on the Hong Kong Stock Exchange on July 28, 2025 [1] Group 2 - The subscriber, PLR Worldwide Sales Limited, is an Irish limited liability company primarily engaged in mobile game development, multi-platform marketing, distribution, and operation, with major products including "Dream Garden" and "Dream Home" [2] - PLR Worldwide Sales Limited is wholly owned by Playrix Holdings Limited, with Dmitrii Bukhman and Igor Bukhman each holding 48.8% of Playrix Holdings Limited [2] - The board believes that the capitalization will (i) introduce a long-term cooperative upstream developer as a strategic shareholder, (ii) preserve the group's cash flow for future business development, and (iii) strengthen the group's financial position [2]

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]

Group 1 - The stock price of Chuangmeng Tiandi (01119.HK) closed at HKD 0.730 on April 7, down 21.5% from the previous trading day, reaching a new low of HKD 0.720 during the day [1] - The net capital outflow on that day was HKD 255.11 million, with inflows of HKD 4.90928 million and outflows of HKD 7.46040 million [1] - Chuangmeng Tiandi Technology Co., Ltd. was established in 2009 and listed on the Hong Kong Stock Exchange in 2018, aiming to become the most creative technology company [1] Group 2 - The company focuses on the development and operation of premium IPs, with popular games such as "Dream Garden," "Dream Home," "Subway Surfers," and "Temple Run," which have long lifecycles and high user engagement [1] - Chuangmeng Tiandi is committed to self-developed games, having launched titles like "Honor All-Stars" and "Karabichu" for PC, with plans to release mobile and console versions in 2024 [1] - The company has deployed a community user management tool called Fanbook, which aims to enhance brand-user management and community growth [2] Group 3 - Chuangmeng Tiandi is recognized as a national high-tech enterprise, with over 1,000 intellectual property rights, including nearly 30 invention patents [2] - The company has participated in the formulation of five national technical cultural standards and has undertaken nearly 20 government-funded R&D projects at various levels [2]