- August 31, 2020
As at 30 June 2020, CMGE was operating 80 online games vs 73 as at year end of 2019
- LT operating games still contribute stable gross billing and profit
- One Piece – the Road of the Strong (航海王強者之路) and Naruto – Ninja Master (火影忍者–忍者大師) launched in 2016
- The Story of the Flying Mortal H5 (凡人飛仙傳H5) launched in 2018.
- The top hit The World of Legend – Thunder Empire (傳奇世界之雷霆霸業), which has been launched for more than 21 months remained stable. It recorded the highest monthly gross billing of RMB107.7mn
- More top hits scheduled to launch in 2H and be likely to bring another RMB600mn revenue on top of 1H
- One Piece: The Voyage (航海王熱血航線) and The King of Fighters: All Stars (全明星激鬥), exclusively distributed by ByteDance
- Dynasty Warriors: Hegemony (真 · 三國無雙霸) and Monster List: Past and Present Lives (妖怪名單之前世今生), exclusively distributed by Tencent;
- popular IP-based games, including the Legend series (傳奇), Condor Trilogy(射雕三部曲);
- Operating efficiency improved:
- MAU/MPU/total new registered users grew by 7.6 YoY/11.6 YoY/36.4% YoY, respectively.
- Avg. paying user conversion rate improved to 7.5% in 1H20 vs 7.3% in 1H19. A
- Adj. opex ratio declined to 12.6% compared to 14.7% in FY19.
- 1H20 results recap:
- CMGE reported 1H20 revenue of RMB1.7bn, up 12.1% YoY/13.7% HoH, in line with our expectation.
- Gross margin was 31.0%, down from 35.7% in FY19, mainly due to revenue mix shift to games published through 3rd-party publishing channels.
- Adj. net profit (excl. SBC & FV gain/loss) came in at RMB288mn, up 16.0% YoY.
