Gelonghui March 27 | Baiao Family Interactive (02100.HK) announced its annual results. Baiao continues to focus on superior segments and actively enhance product innovation and R&D capabilities, thus continuously consolidating its popularity and leading position in these segments. For the year ended 31 December 2023, the Group achieved revenue of RMB 783 million, gross profit of RMB 318 million, and gross margin increased to 40.6% from 38.4% in the same period last year.
During the year, Baiao showed a steady and positive development trend, adhering to the refined long life cycle operation strategy of intellectual property (“IP”), continuously iterating rich and diverse content, continuously linking with different brands across borders, and incorporating excellent traditional Chinese culture into the game, which not only won widespread praise from users, but also greatly enhanced the value and influence of IP. In particular, its core self-developed IP mobile game “Legend of Auchi” has been online for nearly three years. Thanks to content innovation and offline fission, some lost players have been successfully recalled, making them significantly more active in the community in 2023, and discussions among players have also increased. Furthermore, in order to improve user stickiness and innovation, the game continues to optimize and upgrade gameplay, and the newly launched “farm management system” and “pet breeding system” have received enthusiastic praise from players. The game has also successively launched joint versions with national intangible cultural heritages such as Cantonese opera, lanterns, and Guangdong lion, showing traditional culture in a new way to young people today.
Looking ahead to 2024, Baiao will make every effort to build a rich product development pipeline portfolio. Currently, many products are being developed and tested in various competitive segments, and plans to launch them in the global market one after another. Among them, “Aura Star 2” (formerly codename “Project BN”), a 3D multiplayer pet turn-based RPG mobile game will soon be launched in the domestic market. Meanwhile, in the international market, Baiao will step up its expansion efforts. Currently, many products are being actively planned and launched.