Core Insights - The company reported strong financial performance in 2024, with revenue reaching 5.118 billion yuan, a year-on-year increase of 19.16%, and net profit attributable to shareholders at 1.628 billion yuan, up 11.41% [1] - The company continues to reward shareholders through cash dividends and share buybacks, totaling 426 million yuan, which represents 26.18% of the net profit for the year [1] - The company is focusing on game development and expansion into international markets, launching several new titles that have performed well [2][3] Financial Performance - In Q1 2025, the company achieved revenue of 1.352 billion yuan, a growth of 3.46% year-on-year, and net profit of 518 million yuan, up 21.57% [1] - The company’s operating expenses in sales, management, and R&D decreased by 3.2 percentage points, 0.8 percentage points, and 1.0 percentage points respectively [1] - Forecasts for net profit growth from 2025 to 2027 are 25.32%, 18.98%, and 17.86%, with projected profits of 2.041 billion yuan, 2.428 billion yuan, and 2.862 billion yuan respectively [4] Product Development and Market Expansion - The company launched the card strategy game "Nazarick King" in 2024, achieving over 1 million pre-registrations domestically and ranking high on various charts [2] - The overseas revenue for the company reached 375 million yuan in 2024, marking a significant increase of 221.48% [2] - The company is integrating AI into game development, enhancing efficiency and creating new market opportunities [3] Strategic Initiatives - The company is committed to its core strategy of focusing on the gaming industry and has introduced multiple new products to accelerate its international presence [2] - The development of AI models aims to streamline the game development process and improve collaboration [3] - The company has invested in AI firm Tyrell AI Limited, increasing its stake to over 16%, further expanding its footprint in the AI sector [3]