Century Huatong’s revenue in 2023 will be 13.3 billion yuan, a year-on-year increase of 16%

DoNews reported on May 1 that Century Huatong (002602) yesterday disclosed its 2023 annual report and 2024 first quarter financial report. The announcement shows that in 2023, the company will achieve revenue of 13.3 billion yuan, a year-on-year increase of 16%; net profit attributable to the parent company is 524 million yuan, and net profit after non-profit deduction is 420 million yuan, turning a loss into a profit; net cash flow generated from operating activities is 3.102 billion yuan , a year-on-year increase of 108%.

In the first quarter of 2024, the company continued its performance growth, achieving revenue of 4.262 billion yuan, a year-on-year increase of 41%; net profit attributable to the parent company was 652 million yuan, a year-on-year increase of 50%; net profit after non-profit deduction was 647 million yuan , a year-on-year increase of 92%.

Talking about the reasons for performance growth, Century Huatong said that through a series of refined management methods, the company's strategic intentions have been well implemented, operational management highlights have been highlighted, performance is in a rapid growth trend, and the profits of each business segment of the company have averaged year-on-year. A substantial improvement was achieved, with overall profits and cash flow achieving substantial year-on-year growth.

Overseas market revenue surged by more than 56% year-on-year

In terms of exporting games overseas, Century Huatong said that through years of polishing, Diandian Interactive for overseas markets has transformed from a publishing agent to a comprehensive self-research. Leap, overseas market revenue in 2023 will increase by 56.96% year-on-year compared to 2022.

Data shows that the ice and snow survival-themed game "Whiteout Survival" ("Endless Winter") has become the dark horse of overseas games of the year, and has received more than 20 million downloads since its launch. In addition to "Endless Winter", Diandian Interactive launched the open-world sandbox game "LiveTopia" ("Sparkling Town"), the story-driven simulation business game "Family Farm Adventure" ("Feifei's Adventure"), Frozen Doomsday Many products such as the survival game "Frozen City" ("Frozen Age") have also maintained good operating conditions.

In terms of PC games, series products such as "Legend of Blood" and "Legendary World" continue to explore new gameplay, launch new versions, expand new channels, and maintain everlasting performance. The revenue of many classic games such as "Dragon Nest", "Maplestory", "Rainbow Island" and "Bubble Hall" has continued to grow in recent years, and the market performance throughout the year is in line with expectations.

In terms of new product reserves, Century Huatong disclosed that the game reservations for "Hungry Wilderness" on all platforms exceeded 10 million, and "Dragon Nest International Edition", "Hungry Wilderness", "Cloud Sea: Infinite Frontier", "Fifiki" "Traveler", "Project Code: 7", "Project Code: R&R", "Project Code: AW3", "Disco Match", "The Legend of Ancient Dragon Heroes" and many other new products are intensively researching and developing to accelerate their introduction to the market.

It is worth noting that Century Huatong said that with the "Legend" series IP disputes properly resolved, Shengqu Games enjoys its complete exclusive rights in mainland China, and the company will follow up through authorization, distribution, The three links of research and development integrate the domestic legendary market and realize the return of legendary games to orthodoxy, which is expected to bring predictable increases to subsequent performance.

Its IP has been connected to AI tools

Regarding the impact of artificial intelligence on the company's business, Century Huatong said that its IP includes "Legend", "Dragon Nest", "Rainbow Island" and "Don't Starve" Well-known IP products have begun to integrate AI tools, and the cost reduction effect is significant. On the service side, the company is conducting large-scale internal testing of its independently developed artificial intelligence customer service system, which will further improve user service quality and efficiency in the future.

In addition, the Tencent Yangtze River Delta Artificial Intelligence Advanced Computing Center project in which the company participated has delivered thousands of cabinets and has gradually been put into operation; the first phase of the Shenzhen data center project has achieved the first batch of delivery, and the second phase of the project Construction has also begun. In addition, Century Huatong is also expanding from traditional single cabinet hosting services to a "comprehensive computing power service" full industry chain model.

The announcement also stated that Century Huatong will simultaneously focus on strengthening the management of internal risk control and further standardize and improve the level of operation and management through system reform and adjustment of important personnel. In response to external concerns about data security and diversity issues, the company established a group-level data security committee and promulgated the "Employee Diversity Policy."

Regarding the performance outlook for 2024, Century Huatong stated that it will continue to focus on its main business, continuously improve product quality, improve the operational efficiency of long-term projects, and consolidate its dominant position in overseas markets. The company believes that as the ecology of the "Legend" series of IPs is further integrated, it will bring about predictable growth in the new year.

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