Core Company Insights - The company plans to distribute a cash dividend of RMB 35.00 per 10 shares, with a total cash dividend for 2024 expected to be RMB 717.56 million, accounting for 75.94% of the net profit attributable to shareholders [5][6] - The company has cumulatively distributed cash dividends totaling RMB 6.02 billion since its IPO in January 2017 [6] - The company achieved operating revenue of RMB 3.70 billion in 2024, representing a year-on-year decrease of 11.69% [28] - The net profit attributable to shareholders for 2024 was RMB 944.92 million, a decrease of 16.02% compared to the previous year [28] - The company’s total assets as of December 31, 2024, were RMB 6.92 billion, reflecting a year-on-year increase of 4.32% [8] Game Performance Overview - The company’s operating revenue primarily derives from self-developed core products, with total game gross billings for 2024 amounting to RMB 3.79 billion, a decrease of 14.92% year-on-year [10] - Asktao (PC) generated RMB 1,118.84 million in revenue, a year-on-year increase of 3.93%, while Asktao (Mobile) generated RMB 2,073.26 million, a decrease of 11.39% [10] - Overmortal (Mainland version) saw a significant decline in revenue, generating RMB 595.64 million, down 42.49% year-on-year [10] - The company’s overseas operating revenue totaled RMB 499.79 million, representing an 83.92% year-on-year increase, driven by new game launches [13] Strategic Focus and Future Plans - The company aims to enhance game performance and user experience through continuous iterations and updates of existing products [14] - Future product development will prioritize talent density in core projects and focus on engaging and commercially successful titles [14] - The company plans to launch new titles such as Scepter and Sword (Codename M88) and Jiu Mu Zhi Ye in 2025, with a focus on innovative gameplay and user engagement [20][21] Industry Landscape - The Chinese game industry reached 674 million users in 2024, with actual sales revenue amounting to RMB 325.78 billion, a 7.53% increase year-on-year [24] - Mobile games accounted for 73.12% of the actual sales revenue in the Chinese game market [24] - The industry faces challenges such as increasing traffic acquisition costs and intensified competition, leading to a decline in net profits for over 50% of major listed game companies [25] Regulatory Environment - Recent regulatory measures emphasize the healthy development of the game industry, focusing on areas such as minor protection and data security [26] - The company is committed to high-quality, differentiated, and globalized products while enhancing internal management systems to comply with regulatory requirements [27]