Boyaa Interactive Announces 2018 Third Quarterly Results
Making good use of cost control policy to come through problematic situation
|Financial Highlights||For the three months ended 30 September（RMB’000）||For the nine months ended 30 September（RMB’000）|
|Profit Attributable to owners of the Company||34,224||188,002|
|Non-IFRS adjusted net profit||34,893||190,749|
[21 November 2018 - Hong Kong] Boyaa Interactive International Limited (“Boyaa Interactive” or the “Company”, together with its subsidiaries, the “Group”, stock code: 0434.HK), a leading online card and board game developer and operator in China, is pleased to announce the unaudited consolidated results for the three and nine months ended 30 September 2018 (the “Reporting Period”) (the “Third Quarterly Results”).
In terms of financial performance, the Company recorded a revenue of approximately RMB369.0 million for the nine months ended 30 September 2018, representing a decrease of approximately 36.0% compared to the same period in 2017. The decrease was primarily due to the impact from the incident of Apple Inc. carrying out rectification and inspection of the applications launched on its system starting from last year (“Apple Incident”); the effect of regulatory risk regarding the market rumor of the implementation of the “Administrative Measures of Online Chess and Card Games” by the Chinese government; and revenue generated from web-based games decreased due to the industry trend of a gradual transfer of web-based games to mobile terminals.
Although our revenue has been significantly impacted, due to the continuous and smooth implementation of the Company’s cost control policy as well as factors such as the increase in investment income from the Company’s equity investment in partnership enterprises, such factors offset the impact on profit brought by the decrease of revenue of the Company, resulted in a slight year-on-year decrease of approximately 11.9% in unaudited non-IFRS adjusted net profit for the nine months ended 30 September 2018 compared to the nine months ended 30 September 2017. In the third quarter of 2018, the Company recorded an unaudited non-IFRS adjusted net profit of approximately RMB34.9 million.
In terms of the Company’s operating performance, there are 535 thousand paying players and 3.2 million of DAUs in the third quarter of 2018 and ARPPU of Texas Hold’em web-based games in the third quarter of 2018 increased as compared to the corresponding period of 2017.
The management of Boyaa Interactive, commented: “The Company will devote more efforts to strengthen the market research and enrich the games rules in the future so as to enhance users’ game playing experience while continuing to refine our products and diversify our operation, thereby comprehensively improving the game quality and building our brand for online and offline competition games. By strengthening the current market share, the Company will further expand overseas market and other chess and card games business, aiming to offset the potential effect of Policy Risk Factor on the Company. The Company will strictly comply with various laws and regulations of the People’s Republic of China (“PRC”) and create games and competition products of high quality, thereby enabling the Company to be developed into a time-honoured brand in the chess and card game industry.”.
About Boyaa Interactive International Limited (Boyaa Interactive) Boyaa Interactive was founded in 2004. On November 12, 2013, Boyaa Interactive was successfully listed on Hong Kong Stock Exchange. Currently, Boyaa Interactive has developed into a leading developer and operator of card and board games in China with more than 700 million total registered players from over 100 countries and regions. Boyaa Interactive has developed and operated more than 70 online games, and has successfully organized Boyaa Poker Tour (“BPT”) four times for three consecutive years, from 2015 to 2017. In 2014, Boyaa Interactive was listed at the top of China’s Top 100 SMEs with strong potential by Forbes Magazine followed by the "the Listed Company with the Greatest Potential" at the "Chinese Companies Financial Awards” in the year of 2016. Also in the same year, Boyaa became an official strategic partner of the General Administration of Sport of China.
For further information about Boyaa Interactive, please visit www.boyaa.com.hk