Gelonghui, January 9, 丨 Bauhinia International Finance (08340.HK) announced that on January 9, 2024, a license agreement was entered into for the licensee, Beijing Baofu Technology Co., Ltd., an indirect wholly-owned subsidiary of the Company, according to which the licensee granted exclusive, transferable and sub-licensable rights to promote, operate, publish, reproduce and distribute Licensed Game 1 and Licensed Game 2 (collectively, “Licensed Games”) and related products and services in their respective authorized regions for a period of five (5) years.
According to publicly available information, the global mobile online game industry is worth about US$108.2 billion in 2022. It is expected to grow at a compound annual growth rate of about 13.6% between 2023 and 2030, and reach approximately US$339.5 billion by 2030. Considering (i) the predicted growth of the global mobile online game industry; (ii) increasing global smartphone usage; (iii) the convenience and accessibility of mobile online games, which can be played anytime, anywhere; and (iv) the growing popularity of augmented reality and virtual reality games, the Board believes that the Group's development of the mobile online game business is in line with the overall interests of the company and shareholders.