On the evening of March 28, Dream World (01119.HK) announced the 2023 annual results announcement. During the reporting period, the company achieved operating income of 1.92 billion yuan and adjusted net profit of 140 million yuan, turning a loss into a profit; operating cash flow of 250 million yuan, an increase of 169% over the previous year.
In terms of localization of world-renowned IPs, the steady growth of the company's long-term operating infrastructure has been ensured through continuous content updates, IP linkage, and community operation. Among them, “Dream Garden” and “Dream Home” achieved a double increase in user size and health. Revenue increased by 50% year-on-year, and steadily occupied the top 3 categories and the top 20 iOS bestsellers. “Subway Parkour” has been sharpening its sword for ten years, and its strength has not diminished. It successfully launched 12 new versions in 2023. It is linked to classic IPs such as Ultraman and Detective Conan, and is in the top ten iOS game download lists in China. The national service version of “Mecha Team”, which was launched in January 2024, quickly rose to prominence. The domestic debut ranked 7th in the shooting category revenue list, making it the first realistic mech-style real-time battle game in China.
Notably, Dreamland's self-developed games have also achieved high-quality delivery. According to financial reports, “Carapicchu” is the world's first two-dimensional competitive shooter. During the PC beta period, the number of new users increased 130% year over year, the average number of daily active users increased by more than 60%, player retention increased by about 10% over the same period last year, and the average online time per day exceeded 120 minutes. The company plans to launch a mobile game version domestically in the second half of 2024 and distribute it on multiple terminals worldwide. Another self-developed product, “Honor All Stars,” has been the number one horizontal fighting RPG mobile game for 3 years since its launch. The game has established a closed-loop operation model with “delivery+live streaming+content+user service”, and is regarded as a product with long-term operational value and strong content. Furthermore, the game “Two Kingdoms: Interlaced Worlds”, a game jointly developed by Chuangmeng Tiandi and Tencent, has also been released without being deleted, and a large amount of content exclusive to the national service has been added to the original. With the continuous delivery of self-developed games, combined with the experience and advantages of Dream World's long-term operation, I believe Dream World's game business will continue to grow rapidly in 2024.