Kunlun(SZ:300418)2022-11-14 05:03Financial Performance - In the first half of 2022, the company achieved a revenue of 2.25 billion CNY, with a gross margin of 79%, an increase of 8 percentage points year-on-year [3] - Overseas revenue accounted for 74% of total revenue, up 5 percentage points from the previous year [3][12] - The company reported an EBITDA of 590 million CNY, a 50% increase year-on-year, excluding investment losses and equity incentive expenses [3] Business Growth - The core business revenue from the overseas information distribution and metaverse platform Opera reached 149 million USD, a 34% year-on-year growth, with an adjusted EBITDA of 24 million USD, up 572% [3] - The average monthly active users of Opera reached 330 million, with a 22% growth in the Americas market [3] - The gaming community platform GX.Games has over 1,800 games available on PC and 40 games on mobile, enhancing user experience [3] Strategic Developments - The company is focusing on the metaverse-related gaming business, aiming to build community users on the Opera GX gaming browser [5] - StarX's registered users grew by 33% in the first half of 2022, solidifying its leading position in the industry [7] - The company is exploring new technologies, including AI music composition, with five songs released on over 180 music platforms [4][14] Market Position - The company has established a strong brand presence in over 100 countries, serving more than 400 million users [4] - In the first half of 2022, the company maintained a leading position in 19 key markets, including South Korea, Spain, and Italy [8] - The Google Play downloads for the music category increased by 46% year-on-year, ranking second globally [8] Future Outlook - The company plans to continue focusing on high ARPU markets, with a 30% growth in European users and over 70% growth in American users since 2019 [12] - The gaming browser GX is expected to drive significant revenue growth, with a 15% increase in the PC browser market [6] - The company anticipates further development in VR and metaverse directions, with plans for commercial launches in Q4 [12][14]