友谊时光(06820) - 2024 - 年度业绩

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 1,162,786,000, representing a 10.1% increase from RMB 1,056,033,000 in 2023[5] - Gross profit for the same period was RMB 813,522,000, reflecting a 15.8% increase compared to RMB 702,405,000 in 2023[5] - The company achieved a significant reduction in loss before tax, reporting a loss of RMB 35,834,000, down 50.9% from RMB 72,928,000 in the previous year[5] - The net loss for the year was RMB 48,856,000, a 64.6% improvement from RMB 138,120,000 in 2023[5] - The adjusted net loss, excluding share-based compensation expenses, was RMB 42,842,000, a 67.8% decrease from RMB 132,954,000 in the prior year[5] - The total revenue for the year ended December 31, 2024, was approximately RMB 1,162.8 million, representing a year-on-year growth of about 10.1%[18] - The net loss for the year was approximately RMB 48.9 million, narrowing by about 64.6% compared to the same period last year[18] - Adjusted net loss for the year was approximately RMB 42.8 million, narrowing by about 67.8% year-on-year[18] - The company reported a total comprehensive loss of RMB (46,586,000) for the year, improving from RMB (131,781,000) in the previous year[57] - The company reported a loss attributable to ordinary shareholders of RMB 48,856,000 for 2024, compared to a loss of RMB 138,120,000 for 2023[75] Revenue Drivers - Revenue growth was primarily driven by the launch of "Floating Life: Memories of Linglong" and "Ink Sword Jianghu," along with significant contributions from mini-games like "Lingyun Nuo H5" and "Dulala Promotion Record H5" which entered the top 50 in WeChat mini-games and top 30 in Douyin mini-games[19] - The company achieved a quarter-on-quarter revenue growth of approximately 20.7% in the first half of 2024 and about 21.0% in the second half of 2024[19] - Game revenue for 2024 was RMB 1,162.1 million, accounting for 99.9% of total revenue, reflecting a 10.1% year-over-year increase from RMB 1,055.4 million[95] Product Development and Strategy - The company plans to enhance its product matrix by launching various games targeting different user demographics, including female-oriented ancient style and male-oriented martial arts games[7] - The integration of AI technology into game development and operations is a key focus, aiming to improve efficiency and user experience across the entire process[8] - The company plans to continue deepening its strategy of "refinement, diversification, and globalization," focusing on product innovation and technological integration[14] - The company maintains a long-term operational strategy, continuously updating content and engaging in high-frequency version iterations to enhance user experience[21] - The company is actively developing multiple small game projects, including "熹妃传H5," which launched in March 2025, and several others currently in testing, with overseas versions of "杜拉拉升职记" and "凌云诺" set to launch between March and April 2025[40] Cost Management and Efficiency - The company is optimizing its organizational structure and enhancing marketing strategies to reduce costs and improve operational efficiency[10] - Research and development expenses decreased to RMB 292,731,000 in 2024 from RMB 345,993,000 in 2023, indicating a reduction of approximately 15.4%[55] - Employee costs, including salaries and benefits, amounted to RMB 314,062 thousand in 2024, down from RMB 360,705 thousand in 2023, a reduction of about 12.9%[68] - Selling and marketing expenses for 2024 were approximately RMB 557.0 million, an increase of RMB 126.2 million or 29.3% from RMB 430.8 million in 2023, primarily due to promotional expenses for new products[101] - Administrative expenses for 2024 were approximately RMB 41.8 million, a decrease of RMB 8.5 million or 16.9% from RMB 50.3 million in 2023[104] AI and Technological Integration - The AI strategy focuses on "AI + gaming," aiming to enhance the gaming industry through technological innovation and improve player experiences by building a comprehensive AI application system covering development, publishing, operations, and management[41] - The company is developing an AI tool matrix to automate various artistic processes, significantly reducing labor costs and production cycles in art and music generation[42] - AI-driven game interaction is being restructured using deep learning technology, allowing for adaptive level design and NPC interactions based on player behavior, enhancing overall gaming experience[46] Corporate Governance and Compliance - The company has established a corporate governance framework in accordance with the corporate governance code, with a deviation noted regarding the separation of roles between the chairman and the CEO[159] - The audit committee, consisting of three independent non-executive directors, has reviewed the company's audited consolidated results for the year ending December 31, 2024, confirming compliance with applicable accounting principles and sufficient disclosures[166] - The company has ensured that all directors have complied with the standards of the securities trading code as of the year ending December 31, 2024[162] Future Outlook and Plans - The company plans to focus on market expansion and new product development in the upcoming year[55] - The company aims to enhance its competitive position through strategic acquisitions and partnerships in the upcoming fiscal year[66] - The company is committed to a global development strategy, focusing on regional depth and category breakthroughs to create culturally distinctive and globally appealing games[53] Share Incentive Plan - The company has issued a total of 2,180,850,000 shares with a par value of RMB 0.00001 as of December 31, 2024[83] - The board of directors has approved the share incentive plan to align the interests of participants with the company's long-term value creation[144] - The share incentive plan is subject to a cap where the total shares granted cannot exceed 10% of the total issued shares as of the adoption date[146] - The plan allows for the granting of shares to directors, senior and middle management, key technical personnel, and major employees who contribute to the group[141] Social Responsibility and Sustainability - The company actively integrates environmental, social, and governance issues into its management framework, promoting sustainable development in response to national carbon neutrality and energy-saving policies[48] - In 2024, the company will continue to contribute to charitable causes, focusing on education, animal rescue, and environmental protection, among others[49] - Continuous improvements in user information security are being made, with a focus on data safety and strict compliance with global regulations to ensure user privacy[51]