The Company's successful model of social networking business continues to be replicated around the world. Its social networking revenue reached
- 'Replication in Products' + 'Replication in Markets' showing social networking products spread globally
With years of experience in exploring global markets as well as audio and video technology,
In terms of the products, the Company has accumulated successful experiences and applied those to new products, so as to promote fast growth and to expand their commercialization space. For instance, launched last year, Yumy has seen gross profit and become one of the top 10 best-selling social networking apps in 50 countries/regions after continuous optimization of its business model. It is a typical case of "Replication in Products".
In terms of markets,
Through 'Replication in Products' + 'Replication in Markets',
- Diversified growth accelerated as games show impressive monetization potential
In addition to the social networking business, the Company also made important breakthroughs in its innovative businesses that consists mainly of games in the first half of the year. The loss from the game business has narrowed significantly, which was one of the major reasons for the doubled profit attributable to the owner of the Company.
Specifically, products of the Company's Merge game series, "Mergeland - Animal Adventure" and "Mergeland - Alice's Adventure" were formally launched in April and June respectively. The series received rapidly increasing downloads and revenue after launch, and has become one of the top 10 best-sellers in the categories of puzzle and casual games in seven countries.
In the second half of the year, further efforts will be made to promote the game experience, the user volume, and the monetization of the three games, so as to solidify the innovative businesses as a new point for growth.
What's more, the Company's Metaverse layout has been further enriched. In the first half of the year, it built partnerships with leading virtual technology companies to explore the creation of digital virtual characters, the construction of virtual scenes, the empowerment of AI virtual technology and other aspects. It also invested in Shi Mi Network, a smart wearable devices manufacturer, to take the "portal" of the Metaverse and accelerate the deep integration of the Company's social products with the Metaverse.
Big progresses of the innovative businesses have further accelerated the diversified growth of the Company, and the second growth curve is becoming clearer.
- Consolidated advantages and extended borders to keep high-quality development
The Company's commitment to R&D is a precondition for its performance breakthroughs. In the first half of the year, the Company's R&D expenses were
On the other hand, the Company has persisted in localized operations to pursue Longtermism. It conducts in-depth operations and brand building efforts based on the understanding and respect of local cultures, and tries to integrate into the local industry and social development through industry media gathering and public welfare charities.
In the first half of the year, MICO released a theme song MV for
In the MENA market which the Company has deeply explored,
With the continuous increase of R&D investment and the further promotion of localized operation, the Company's technology and operation middle platforms have become increasingly mature. Jointly, these strengths favored the Company in promoting the rapid upgrading of its social products in terms of user experience, market expansion and content distribution, and further accelerating the development of its social networking business.
In the future,
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