Celadon Gaming (06633.HK) announced its annual results forecast for the year ended December 31, 2023. In 2023, the Group is expected to record revenue of approximately RMB 880 million to RMB 920 million, while in the same period in 2022 it recorded revenue of RMB 630 million, a significant increase of about 39.6% to 45.9% over the same period last year.
During the year, due to the centralized marketing and promotion expenses of some games launched in the second half of 2023, the revenue did not fully offset related expenses. Coupled with the investment of some game industry chain companies and the impairment of advance payments to some investment companies, the Group's net profit decreased during the year. The net loss recorded ranged from about RMB 30 million to RMB 60 million, and recorded a net profit of about RMB 45.7 million for the same period of 2022. As games go overseas and new products are launched, the long-term development of the group can be expected.
The board of directors believes that during the year, the group continued to promote existing games overseas, and the overseas coverage area increased significantly; it also successfully launched various widely acclaimed games such as “Legend of Sword and Fairy” and “Magic Card Girl Sakura: Key to Memories”. The Group also continues to optimize its revenue structure to enhance the Group's core competitiveness in R&D and operation. In 2024, the Group plans to release a variety of new games (including applet games). For example, in February 2024, the Group released the casual game “Fat Goose Gym” in Japan, which topped both the iOS free game rankings and Google Play free game rankings in Japan; moreover, it is expected that several games released in the second half of 2023 will enter the cost recovery period one after another, which is expected to drive the Group's business development.