BOYAA(00434)2025-03-05 12:53Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 456.9 million, an increase of about 15.8% compared to RMB 394.6 million in 2023[5] - The gross profit for the fiscal year ending December 31, 2024, was approximately RMB 332.1 million, representing a 22.4% increase from RMB 271.3 million in 2023[5] - The profit attributable to the company's owners for the fiscal year ending December 31, 2024, was approximately RMB 883.8 million, a significant increase of about 654.2% from RMB 117.2 million in 2023[5] - The adjusted net profit, excluding share-based compensation expenses, for the fiscal year ending December 31, 2024, was approximately RMB 886.3 million, up 645.2% from RMB 118.9 million in 2023[5] - The basic earnings per share for the fiscal year was RMB 133.10, reflecting a 650.3% increase from RMB 17.74 in 2023[6] - The company reported a profit before tax of RMB 1,043,521 million, a substantial increase from RMB 126,950 million year-over-year[106] - The company's annual profit for 2024 was RMB 883,779,000, a significant increase from RMB 117,179,000 in 2023[138] Dividends and Shareholder Returns - The board proposed a final dividend of approximately HKD 75,596,000, equating to about HKD 0.1064 per ordinary share, which is 20% of the operating profit for the fiscal year[5] - The company revised its dividend policy to distribute at least 20% of operating profit as dividends annually over the next four years, excluding gains from digital assets[5] - The proposed final dividend for the year ending December 31, 2024, is HKD 0.1064 per share, an increase from HKD 0.0372 per share for the year ending December 31, 2023[179] Digital Assets and Cryptocurrency - The unrealized fair value gain from digital assets was RMB 864.7 million for the fiscal year, a substantial increase from RMB 911 thousand in 2023[6] - The company reported a Bitcoin growth rate of 65,324% for the fiscal year, indicating significant performance in digital asset investments[6] - The company is actively expanding its Bitcoin reserves, viewing Bitcoin as having long-term value[13] - The company plans to innovate and develop industry-leading Web3 gaming products by integrating existing internet games with Web3 technology[13] - The company plans to continue expanding its cryptocurrency reserves and maintain a long-term holding strategy[27] - The company anticipates that the quantity of cryptocurrencies purchased will continue to increase, contributing to ongoing digital asset appreciation revenue[31] - The fair value gain from digital assets was approximately RMB 860 million, with an additional RMB 50 million in appreciation gains for the fiscal year ending December 31, 2024[22] User Engagement and Market Performance - Daily active users reached 1,201 thousand, an increase of 6.3% year-on-year[11] - Monthly active users totaled 4,151 thousand, marking a year-on-year increase of 5.4%[11] - The company significantly increased its online gaming revenue in the Middle East, indicating successful market expansion efforts[19] - The number of daily active users increased by 2.8% from approximately 1.17 million in Q3 2024 to about 1.20 million in Q4 2024[17] - Monthly active users decreased by 7.9% from approximately 4.5 million in Q3 2024 to about 4.2 million in Q4 2024, primarily due to a decline in active users on the mobile Texas Hold'em platform[18] Operational Efficiency and Expenses - Administrative expenses for the year ended December 31, 2024, were approximately RMB 104.6 million, an increase of about 5.8% from RMB 98.9 million in 2023[36] - Sales and marketing expenses decreased by approximately 15.9% to about RMB 40.6 million for the year ended December 31, 2024, representing 8.9% of revenue compared to 12.2% in 2023[34] - Total employee costs for the year ended December 31, 2024, amounted to approximately RMB 807 million, representing about 29.9% of the total expenses[93] - Research and development expenses totaled RMB 57,888,000 in 2024, slightly up from RMB 57,428,000 in 2023[136] Asset Management and Investments - As of December 31, 2024, the company held approximately 3,274 Bitcoins at an average cost of 1,676 per Ether[22] - The fair value of digital assets as of December 31, 2024, is approximately RMB 2,360.0 million, up from RMB 78.6 million on December 31, 2023[68] - The company has cumulatively invested RMB 300.0 million in Jiaxing Boya, holding a 99.0% stake, but the fair value of this investment is approximately zero as of December 31, 2024[81] - The company has no short-term or long-term bank borrowings and no outstanding bank financing as of December 31, 2024[84] Corporate Governance and Compliance - The board has reviewed and complied with all applicable code provisions of the Corporate Governance Code during the year ending December 31, 2024[184] - The company established a dedicated management and risk control department for virtual assets to oversee cryptocurrency transactions and compliance with regulations[71]