Half Year 2024 IGG Inc Earnings Call Transcript
Key Points
- IGG Inc (IGGGF) achieved a total revenue of $2.74 billion, marking a 9% increase.
- The company has diversified its business with three products exceeding USD10 million in billings, contributing to a historical peak in total revenue.
- Viking Rise and APP business have shown significant growth, with Viking Rise's billing doubling and APP business tripling.
- The company has resumed profitability with a profit of HKD330 million and plans to allocate 30% of the profit for dividends and 10% for share buybacks.
- Lords Mobile, despite being over eight years old, remains stable with a gross billing of over USD28 million, showing resilience and continued user engagement.
- The gaming industry faces increased competition, particularly in the SLG segment, which could impact market share and growth.
- Marketing expenses remain high, affecting profit margins, with significant spending planned for promotions in December.
- The company's APP business, although growing, is still relatively small and vulnerable to competition from larger players.
- Despite growth, the market value of IGG Inc (IGGGF) is not as high as expected, prompting management to consider shareholding increases.
- Capital expenditure is expected to rise by 30% to 35% in the second half of the year due to the completion of the headquarters building, which could impact cash flow.
Investors, friends, good morning. Welcome you to 2024 interim results and investors meeting of IGG. Today, our conference will be conducted in Mandarin. The PowerPoint of result has already been uploaded to our website under the Investors Relations section.
Before we start, let me introduce the management to you, Mr. Kevin Xu, Executive Director and Chief Operating Officer.
Greetings, investors.
Miss Jessie Shen, Executive Director and Chief Financial Officer.
Greetings, investors.
Today, our conference consists of two parts. The management will introduce you our financial and business results, and then we will have Q&A session.
Now Mr. Xu, please. He will introduce you the interim results to all of you.
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