Wangchen Technology Holdings (02458.HK) announced that its annual results and profits increased significantly by approximately 451.2% and will further optimize its product matrix and profitability.
Gelonghui2024-03-28 22:25:05
Gelonghui March 28丨Wangchen Technology Holdings (02458.HK) announced that in 2023, the company’s total revenue remained stable year-on-year, reaching approximately RMB 633.6 million. Gross profit increased by approximately 3.5% to approximately RMB344.7 million from approximately RMB333.1 million in the previous year. Sales and marketing expenses and general and administrative expenses decreased by approximately 25.2% and 18.6% respectively from approximately RMB173.2 million and RMB56.0 million in the previous year to approximately RMB129.5 million and RMB45.6 million in this year. Profit for the year and profit for the year attributable to owners of the company increased significantly by approximately 451.2% and 448.6% to approximately RMB74.2 million and approximately RMB74.2 million for the year, respectively. The board of directors recommends the payment of a final dividend of RMB 18.82 cents per share (2022: Nil).
Research and development expenses increased by approximately RMB22.2 million, or 25.6%, from approximately RMB87.0 million in the previous year to approximately RMB109.2 million in the current year, mainly due to an increase in employee benefits and salaries of R&D personnel of approximately RMB20.9 million. Or 27.9%, which was mainly due to the Group increasing the number of R&D personnel during the year to develop new games and planned games released during the year, as well as providing salary increases to reward the Group’s outstanding R&D personnel.
The company consolidates and deepens its official cooperation with international sports federations (FIFPro, NBA and NBPA) as well as top football clubs such as Barcelona, Bayern Munich and Manchester City. It continues to update game content and launch new theme versions. Provide players with a rich and diversified gaming experience.
In the next year, the group will further optimize its product matrix and profitability, and strive to increase the scale of revenue. It will also ensure the quality of revenue by continuing to improve customer acquisition efficiency and refined operations as in 2023. In 2023, “Best Club”, which represents the group’s top technology, has successfully succeeded “Football Master”, which has been released for nearly ten years, and will reach a new peak in its revenue and profitability in the first quarter of 2024. The game version for overseas markets has undergone multiple iterations and upgrades. The quality has been significantly improved compared to previous versions, and overseas market promotion will begin in mid-2024; another core game “The Best 11-Championship Club” It will also continue to consolidate player activity, in-game community size and profitability; “Baseball Masters” is the group’s first baseball game to be launched in North America. The company has received feedback from players for small-scale operations starting in mid-2023. Finally, we chose to improve game quality and localized content to attract players instead of blindly promoting the market. The good performance of other core games also gave the company sufficient time to optimize and upgrade content. So far, the company has debugged the North American version of “Baseball Master” to a satisfactory level and is expected to begin large-scale promotion in the second quarter of 2024. The domestic version of “Baseball Master” has been approved, and versions for Japan, South Korea and Taiwan will be launched soon.
In addition, the group is developing three games, namely the operational basketball game “Codename: Operation Basketball”, the fishing simulation game “Codename: Fishing Master” and the operational football game. “Codename: Operation Football” will use the upgraded motion capture and human movement engine, the group’s artificial intelligence (AI) technology, and real audience rendering technology to maximize the restoration of player movements, tactical movements, court interactions, etc. in real basketball games. Details enable players to enjoy the next-generation basketball experience on mobile devices. “Codename: Fishing Master” uses a real physics engine, motion capture technology, weather change system, real water effects, and high-definition fish modeling to allow players to enjoy an immersive fishing experience. Among the above-mentioned games under development, “Codename: Operation Basketball” is expected to be launched in the summer of 2024, and “Codename: Fishing Master” and operational rugby games will also be officially launched in the next one to two years.
The Group is confident in the sports gaming industry in which it operates. With the advancement of technology, the operational games released by the Group can further optimize the game quality, and the games under development have also improved the efficiency of development and iteration. The company will keep up with the pace of technological updates, increase the core talent pool for game research, development and operation, accelerate the application and research breakthroughs of AI-generated content technology, expand the layout of the casual game field, launch a more diversified product portfolio, and provide players with more High quality game content.
Warning from the financial community: The content, data and tools in this article do not constitute any investment advice and are for reference only and do not have any guiding role. The stock market is risky, so be cautious when investing!
2024-03-28 14:40:36
#Wangchen #Technology #Holdings #02458.HK #announced #annual #results #profit #increased #significantly #approximately #optimize #product #matrix #profitabilityMobile #Finance #Industry
