Friendship Time (06820) announced annual results with revenue of 1,056 million yuan

Zhitong Finance ·  Mar 20 10:37

Friendship Time (06820) announced its annual results for the year ended December 31, 2023. The group reaped benefits, people...

According to the Zhitong Finance App, Friendship Time (06820) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 1,056 million (same unit), a year-on-year decrease of 30.7%; gross profit of RMB 702 million, a year-on-year decrease of 32.7%; R&D expenses of RMB 346 million, a year-on-year decrease of 3.22%; a loss of RMB 138 million during the year, adjusted for the year; and a loss of 0.06 million yuan per share.

The Group continues to improve its independent R&D and innovation capabilities, accelerate the research layout of cutting-edge technologies such as AIGC, introduce AIGC technology in art production, plot planning, game interaction, marketing copywriting and production of delivery materials, etc., and use new technology to develop more intelligent development tools, editors and data models, etc., to fully reduce costs and increase efficiency. As one of Baidu's first “Wenxin Yiyao” ecological partners, it will help the group enhance the game's NPC interaction function and enhance the game's freedom and emotional connection with players. In addition, a number of games under the Group have completed the development of the Huawei Hongmeng Yuansheng application, and officially joined the Hongmeng ecosystem to explore more technical application scenarios. The Group is also actively exploring various innovative AI/XR applications at home and abroad to try to integrate them with in-game gameplay. Currently, some new features have entered the testing period.

In order to respond positively to the current market environment and promote the stable and sustainable development of enterprises, the Group has strengthened comprehensive budget management and cost control to reduce costs and increase efficiency, and enhance the core competitiveness of the enterprise. On the technical side, the company actively embraces AIGC and is deeply integrated into multiple business levels to improve the efficiency of the group's R&D and operation; in terms of project management, the company strengthens cost monitoring, analysis, evaluation and decision-making, strictly controls costs and adopts higher standards for phased assessment of new projects; in terms of market and operation, the company uses scientific methods and tools to achieve efficient cost management, and strengthens the exploration of new channels for new users through new brand promotion plans; in terms of personnel management, the company actively promotes accurate service and long-term retention of old users; in terms of personnel management, the company actively promotes the improvement of human efficiency Improve multi-dimensional incentive policies to stimulate organizational vitality and employee creativity.

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