Boyaa Interactive announced its first quarter results of 2021Approximately 9.4% QoQ Increase in Revenue and QoQ Increase in Paying Players
|FINANCIAL HIGHLIGHTS||For the three months ended 31 March 2021(RMB, in millions)|
|Profit attributable to owners of the Company||-16.1|
|Unaudited non-IFRS adjusted net profit||-16.1|
(27 May 2021) Boyaa Interactive International Limited (“Boyaa Interactive” or the “Company”, together with its subsidiaries, the “Group”, stock code: 0434), a top-ranking developer and operator of online card and board games in China, has announced its unaudited consolidated results for the three months ended 31 March 2021 (the “Reporting Period”) (the “First Quarterly Results”).
Revenue amounted to approximately RMB84.9 million, up by approximately 9.4% QoQ
The Group recorded a revenue of approximately RMB84.9 million for the first quarter of 2021, representing a quarter-on-quarter increase of approximately 9.4% compared to the fourth quarter of 2020 and a year-on-year decrease of approximately 8.8% compared to the first quarter of 2020. Gross profit amounted to approximately RMB57.6 million, representing a year-on-year decrease of 11.7% from approximately RMB65.2 million recorded for the same period in 2020.
The quarter-on-quarter increase in revenue was mainly due to the periodical effect of the Group’s operating promotion activities, while the year-on-year decrease in revenue was mainly due to the COVID-19 Pandemic had eased and the online time and consumption of online games by game users had decreased in the first quarter of 2021.
The Group recorded an unaudited non-IFRS adjusted loss of approximately RMB16.1 million in the first quarter of 2021, whereas it recorded a position of unaudited non-IFRS adjusted net profit of approximately RMB11.9 million in the same period of 2020. The year-on-year decrease was primarily attributable to the decrease in fair value of financial assets such as equity investment partnerships due to the economic downturn caused by the COVID-19 Pandemic and market factors; and the decrease in revenue in the first quarter of 2021 as compared to the same period in 2020.
Excluding the impact of non-operating one-off factors such as the decrease in the fair value of financial assets including equity investment partnerships, the Group would have recorded an unaudited non-IFRS adjusted net profit of approximately RMB23.7 million.
QoQ increase in paying players and growth in the ARPPU of major games
In terms of the operating data performance, the Group recorded an increase in the number of paying players during the first quarter of 2021 as compared to the fourth quarter of 2020. In particular, the number of paying players increased by 19.1% from approximately 0.24 million in the fourth quarter of 2020 to approximately 0.28 million in the first quarter of 2021. The number of DAUs decreased by approximately 7.9% from approximately 1.6 million in the fourth quarter of 2020 to 1.5 million in the first quarter of 2021. The number of MAUs decreased by approximately 2.0% from approximately 4.5 million in the fourth quarter of 2020 to approximately 4.4 million in the first quarter of 2021.
However, the ARPPU grew relatively in both web-based version and mobile version of Texas Hold’em.
The Company will continue to explore various operation modes for card and board games in domestic and foreign markets, and spare no effort to build its brand for online and offline match series
Moving forward, as stated by its management, the Company will continue to conduct more intensive market surveys, launch innovative game rules, explore various operation modes for card and board games in domestic and foreign markets, improve the experience of game players, continue to strengthen product refinement and operation diversification, ramp up the quality of games in an all-rounded manner, and spare no effort to build its brand for online and offline match series. On top of consolidating the existing market, more efforts will be made to further expand the overseas market as well as other chess and card games business. The Company will strictly comply with various laws and regulations of the People’s Republic of China, develop high-quality puzzle games and matches, and continue with its journey to forge a century-old brand for chess and card games.