新产品表现亮眼 祖龙娱乐上半年营收增加、亏损收窄

Core Viewpoint - Zulong Entertainment (09990.HK) reported a mid-year performance announcement for 2023, highlighting increased revenue and reduced losses, while continuing to enhance its R&D core competitiveness and improve its integrated R&D and operation model [1] Group 1: R&D Competitiveness - R&D capability is the core competitiveness of Zulong Entertainment, with R&D expenses increasing annually from 2018 to 2022, and a high proportion of R&D personnel at 78.15% of total employees [2] - The company launched 19 premium mobile games by June 30, 2023, with one game generating over RMB 4 billion in global revenue, and several others achieving significant revenue milestones [4] - The application of generative artificial intelligence (AIGC) in the gaming industry is seen as having high potential, with Zulong Entertainment leveraging AI tools to enhance game product development across multiple dimensions [6][7] Group 2: Integrated R&D and Operation - Zulong Entertainment is building advantages in integrated R&D and operation, with comprehensive game publishing and operation accounting for 74.9% of total revenue in the first half of 2023 [8] - The company has successfully launched 19 premium mobile games in over 170 markets, supporting multiple languages and showcasing its refined operational capabilities [10] - The global gaming market competition necessitates a focus on both content innovation and refined operations, which is crucial for the success of Chinese gaming companies in overseas markets [11]