GLONGHUI March 26 | Crazy Sports (00082.HK) announced its annual results. In 2023, the Group achieved total revenue of HK$490.2 million and gross profit of approximately HK$179.4 million. The sports knowledge payment platform has become the Group's main product, with revenue exceeding HK$227.6 million, accounting for 46.4% of total revenue. As of December 31, 2023, the Group's platform had a cumulative total of 87 million registered users, an increase of 22.8% over the end of 2022.
In 2023, the Group maintained its growth momentum in the core business of digital sports entertainment. Among them, the revenue of sports knowledge payment platforms reached HK$227.6 million, an increase of 12.2% over the previous year, while limiting losses caused by uncertain economic and consumer environments. After three years of changes in the epidemic, the content payment industry experienced disruptive changes and the popularity of the lottery market reached a new high in 2023, driving the Group's sports knowledge payment business to a steady growth.
In order to continuously expand customer acquisition through new channels, Crazy Red List has reached strategic cooperation with platforms such as Baidu and Kuaishou to jointly release paid content applets, which can be distributed with short videos from platform experts. Currently, Baidu, Kuaishou, Alipay, Douyin, WeChat, etc. have all launched the Crazy Red List applet. The growth of Crazy Red List is due to the high level of attention and continued popularity brought by the Qatar World Cup and the spread of the “lipstick effect” in the post-pandemic era. After the 2022 World Cup, the Group successfully retained users through the introduction of advanced data analysis and AI technology on the platform. The total number of registered users and monthly active users increased by 14.1% and 16.0% respectively.
It is also worth mentioning that 2024 is also a real sports competition year, and the group is highly integrated with market opportunities. Led by the Paris Olympics and the European Cup, this year's Paris Olympics is the first Olympics to be fully open for live viewing after the pandemic. 2024 is a year full of hope, and Crazy Sports will continue to play a leading role in the industry, further consolidating its leading position in the digital sports field.