巨人网络20250828

Summary of Giant Network's Conference Call Company Overview - Company: Giant Network - Date: August 28, 2025 Key Points Industry and Company Performance - Giant Network's self-developed game "Supernatural Action Group" has become a market hit, with over 1 million concurrent users in July, maintaining a top position in the iOS game rankings, indicating exponential growth in users and revenue [2][4] - The flagship mobile game "Original Journey" saw over 20 million new users in the first half of the year after a second promotion of its mini-program version, with average monthly revenue stabilizing around 100 million RMB [2][4] - "Ball Ball Battle" also showed positive user growth, adding over 10 million users in the first half of the year, with active mini-program users exceeding 1 million, demonstrating significant success among younger demographics [2][4] Financial Performance - In the first half of 2025, Giant Network achieved revenue of 1.662 billion RMB, a year-on-year increase of 16.47%, and a net profit of 777 million RMB, up 8.27% year-on-year [4] - The company plans to distribute a dividend of 1.5 RMB per 10 shares (including tax), totaling 284 million RMB, which accounts for 36.5% of the net profit attributable to shareholders [2][10] AI Integration and Innovations - Giant Network is increasing its investment in AI, integrating AI technology into core products to enhance interaction and gameplay mechanisms [5][6] - The new mode "Endgame Match" was launched in "Space Kill," collaborating with major domestic models to create a mixed competitive mechanism between multiple users and AI entities [6] - Several AI research achievements have been recognized at international academic conferences, covering areas such as multimodal generation and audio-video synthesis [6] Product Lifecycle and Future Plans - The company aims to extend the lifecycle of "Supernatural Action Group" by enhancing product quality, adding content and gameplay, and engaging in IP collaborations, although commercialization is not prioritized at this stage [2][7] - No specific plans were disclosed for future products targeting young female demographics, but the company will continue to monitor this market [2][7] Market Expansion and Investments - Giant Network is considering overseas market expansion, but developing native products for international markets requires time and resources [8] - The company holds indirect shares in Playtika, which recently launched a successful Disney IP game, but the long-term impact of this acquisition remains to be seen [8] Competitive Landscape and Future Outlook - The company does not see significant competition for "Supernatural Action Group," attributing its success to a young and agile team that has invested heavily in resources following positive product performance [13] - The gaming industry is expected to see a shift in talent dynamics, with Chinese companies gaining a stronger foothold globally [16] User Engagement and Retention Strategies - The gameplay of "Supernatural Action Group" encourages social interaction, leading to longer user retention times [18] - The company plans to maintain user engagement through continuous content updates, including new maps and characters, and seasonal events [21] Research and Development - R&D expenses increased by 50 million RMB in Q2 due to higher personnel costs and operational expenses related to new projects [19] Future Game Development - The company is exploring user-generated content (UGC) and player-generated content (PUGC) to enhance user engagement in "Supernatural Action Group" [23] - There are ongoing efforts to adapt advanced independent game mechanics from overseas while ensuring the gameplay is suitable for mobile platforms [24] Conclusion - Giant Network is positioned for growth with a strong product lineup, innovative AI integration, and a commitment to shareholder returns, while navigating competitive and market challenges effectively.