Zhitong Finance App News, Lianzhong (06899) announced the 2023 results of its indirect non-wholly-owned subsidiary Allied Gaming & Entertainment Inc. (AGAE), with total revenue of US$7.655 million, up 20.5% year on year; net loss of US$3.5954 million, a year-on-year narrowing of 66.78%.
For the year ended December 31, 2023 and 2022, R&D expenses were approximately USD 163,000 and USD 0, respectively. R&D expenses mainly include costs associated with developing new casual mobile games for ZTech.