Group 1 - The core viewpoint of the article highlights the significant stock price increase of Chuangmeng Tiandi (01119), which has risen over 55% in the month, with a current price of 1.2 HKD and a trading volume of 21.36 million HKD [1] - On July 29, Chuangmeng Tiandi announced a capital agreement with Playrix's PLR Worldwide Sales Limited, which will subscribe to approximately 38.08 million shares at a price of 1.024 HKD per share, totaling an investment of 39 million HKD [1] - Following the completion of the transaction, Playrix will hold approximately 2.11% of Chuangmeng Tiandi's shares, indicating a strategic partnership with a major player in the mobile gaming industry [1] Group 2 - PLR Worldwide Sales Limited specializes in mobile game development, multi-platform marketing, distribution, and operation, with notable products including "Gardenscapes" and "Homescapes" [1] - The board of Chuangmeng Tiandi 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]

Core Insights - The global mobile game revenue rankings for June 2025 have been released, with Tencent's "Honor of Kings" leading the chart despite a month-over-month revenue decline [1][2]. Group 1: Top Revenue Generating Games - "Honor of Kings" by Tencent generated $143 million in June, maintaining its top position despite a $40 million drop from May's $184 million [2]. - "Whiteout Survival" and "LastWar" closely follow, with "Whiteout Survival" earning $128 million and "LastWar" at $127 million, showing a very narrow revenue gap [2]. - "Royal Match" ranked fourth with a revenue of $117 million, marking its first drop below $120 million since June 2024 [3]. Group 2: Notable Trends and Changes - "Monopoly Go" by Scopely has stabilized around $100 million for three consecutive months, while "Candy Crush Saga" saw its revenue fall below $100 million for the first time since February, now at $97 million [3]. - "PUBG Mobile" and "Peacekeeper Elite" also experienced revenue declines, with "Peacekeeper Elite" dropping from approximately $120 million in May to about $94 million in June [3]. - "Pokémon Go" saw a significant revenue increase to over $62 million due to community events, while "Pokémon TCG Pocket" faced a decline from approximately $81 million to $56 million [4]. Group 3: Rankings Beyond the Top 10 - "Genshin Impact" by miHoYo ranked 11th with $48.8 million, while "Gossip Harbor" reached $44.2 million, marking a new high [5][6]. - "Roblox" continued to struggle with a revenue drop to $39.2 million, while "Kingshot" surged to $37.3 million, climbing 13 positions [6][7]. - "Clash Royale" by Supercell achieved a revenue of approximately $36 million, marking its best performance since December 2021 [7].

Core Insights - The global mobile game revenue rankings for May 2025 have been released, showing significant performance variations among top games [1][2]. Group 1: Top Performers - "Honor of Kings" by Tencent continues to lead the chart with a revenue of $184 million in May, maintaining its position after regaining the top spot in April [1][2]. - "Whiteout Survival" and "Last War: Survival" are in a close competition for the second position, with revenues of $137 million and $133 million respectively, marking their third consecutive month of rank changes [2][3]. - "PUBG Mobile" ranks fifth with a revenue of approximately $119 million, showing a slight month-over-month increase [3]. Group 2: Revenue Fluctuations - "Royal Match" experienced significant revenue fluctuations, earning about $127 million in May after peaking at nearly $145 million in March [2]. - "Candy Crush Saga" and "Monopoly Go" followed closely with revenues of $105 million and $100 million, both showing slight declines [3]. - "Pokémon TCG Pocket" saw its revenue rebound to over $80 million, heavily influenced by new card pack releases [3]. Group 3: Rankings 11-20 - The rankings from 11 to 20 include "Gossip Harbor" at $42.4 million, "Brawl Stars" at $38.9 million, and "Honkai: Star Rail" at $38.5 million, indicating a steady performance for these titles [4][5]. - "Gossip Harbor" has shown consistent growth since its launch in mid-2022, achieving a new high in May [5]. - "Fate/Grand Order" made a notable comeback to the top 20 with a revenue of $32.1 million [5].

Summary of Conference Call Company Overview - The company, referred to as "创梦" (Chuangmeng), is a global gaming company with integrated capabilities in game publishing and development, focusing on high-quality business growth and stability in operations [1][2]. Key Business Segments Game Publishing - The company has a mature game publishing business, with long-lifecycle products such as "Subway Surfers" and "Dream Garden" contributing to revenue [2]. - New releases like "Mecha Squad" and "Legendary Store" have also performed well, indicating a focus on unique and niche products [2][3]. - The company emphasizes user engagement through content iteration and optimizing user lifetime value (LTV), achieving a 40% increase in payment rates through enhanced content and competitive gaming features [2]. Self-Developed Games - "卡拉比丘" (Karabichu) is highlighted as a key self-developed product, launched globally with significant user engagement and positive feedback [5][6]. - The game has achieved top rankings on platforms like Steam and is expected to contribute positively to the company's revenue in 2025 [5][6][11]. - The company plans to expand the game to mobile and console platforms, enhancing its global operational capabilities [6]. AI Technology Integration - The company is actively integrating AI into its operations, including community management and game development processes [7][8]. - AI tools have improved operational efficiency by over 30%, enhancing game development and user engagement [8][41]. - The establishment of a joint innovation lab with Tencent Cloud focuses on leveraging AI to enhance game development processes [40][41]. Financial Performance - Total revenue for 2024 is reported at 1.51 billion RMB, showing a decline due to the cessation of non-core game operations and the transition of self-developed games to a net revenue recognition model [10][11]. - Despite the overall revenue decline, core games continue to perform well, with a 10% increase in publishing revenue [11]. - The adjusted loss for 2024 is 30 million RMB, primarily due to ongoing R&D investments in "卡拉比丘" [12]. Marketing and Cost Management - Marketing expenses decreased by 15% to 196 million RMB, attributed to improved customer acquisition efficiency and community engagement [13]. - R&D expenses also saw a reduction, with a focus on capitalizing certain development costs [13][14]. Future Outlook - The company aims to enhance its game portfolio with a focus on long-term operational stability and profitability [17]. - Plans to optimize the game publishing model to improve cash flow and reduce risks associated with upfront payments [18]. - The company is committed to improving stock liquidity and investor structure following its exit from the Hong Kong Stock Connect [31]. Strategic Focus - The company aims to solidify its position as an IP-driven entity, focusing on high-quality game content and sustainable profitability [44][46]. - Future game development will prioritize high-barrier genres, leveraging AI technology to enhance gameplay and user experience [46][47]. Additional Insights - The company is adapting its game design based on user feedback, particularly for "卡拉比丘," to include more casual gameplay options and improve user experience [24][25][26]. - The integration of AI in gameplay is expected to enhance player engagement and retention, with plans for more intelligent NPC interactions [42][43]. This summary encapsulates the key points discussed during the conference call, highlighting the company's strategic direction, financial performance, and future initiatives.