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Public company info - IGG Inc , 00799.HK
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IGG Inc, 00799.HK - Company Profile
Chairman Zongjian Cai
Share Issued (share) 1,199,000,000
Par Currency U.S. Dollar
Par Value 2.5E-6
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The Group was principally engaged in the development and operation of mobile, browser and client-based online games in the international market. Performance for the year: The Group’s revenue for the year ended 31 December 2020 was US$704.1 million, representing an increase of 5% compared to US$667.6 million for the year ended 31 December 2019. The Group’s gross profit for the year ended 31 December 2020 was US$491.7 million, representing an increase of 6% compared to US$462.8 million for the year ended 31 December 2019. The Group’s gross profit margin for the year ended 31 December 2020 was 69.8%, representing an increase of 0.5% compared to 69.3% for the year ended 31 December 2019. Business Review In 2020, the COVID-19 pandemic posed challenges across countries and industries. The pandemic has also created a new “work from home” normal and catalysed the emergence of the “home-based economy”. IGG seized the opportunity to enhance the global operation and marketing for “Lords Mobile”. At the same time, the Group acquired nearly 100 million users for its mobile apps and succeeded in creating a platform synergy effect, boosting the flagship title “Lords Mobile” to repeatedly hit new record highs in monthly gross billing and leading to growth in annual revenue and net profit. For the year 2020, the Group recorded total revenue of US$704 million, an increase of 5% year-on-year. Revenue in the second half of 2020 was approximately US$392 million, an increase of 25% over the first half of 2020 as well as year-on-year. The revenue growth was primarily due to the outstanding performance of the flagship title “Lords Mobile”, which repeatedly hit new record highs. During the Year, revenue generated from markets in Asia, North America and Europe accounted for 39%, 31% and 23%, respectively, of the Group’s total revenue. IGG’s net profit reached a record high of US$270 million in 2020, soaring 64% year-on-year, primarily attributable to the outstanding performance of its game business and global investments. IGG achieved a net profit of US$146 million from its core game business2 , representing an increase of 4% year-on-year. “Lords Mobile” “Lords Mobile”, released in March 2016, is the Group’s fi rst cross-platform, multi-language, real-time game designed for global gamers. With its compelling game play, “Lords Mobile” continues to enjoy enduring popularity and revenue growth in its fi fth year of operation. As at 31 December 2020, it has over 370 million registered users worldwide and more than 13.7 million MAU. With regular updates and streamlined game operation, “Lords Mobile” set a new revenue record in 2020, with monthly gross billing rising to over US$66 million. According to App Annie’s daily grossing ranking as at 31 December 2020, “Lords Mobile” ranked top five in 15 and top 10 in 47 countries and regions on Google Play, and top five in 7 and top 10 in 22 countries and regions on Apple’s App Store. In 2021, IGG is partnering up with a well-known Japanese animation studio, TOEI ANIMATION CO., LTD, to introduce their smash hit, Saint Seiya into Lords Mobile, bringing players a refreshing gaming experience. “Castle Clash” “Castle Clash” is a fast-paced tower defence game launched in 2013. After eight years, the game still remains popular. Frequent content updates and regular addition of new features have successfully sustained the game’s appeal. New Titles IGG has achieved a breakthrough in diversifying its game portfolio beyond its core strategy games genre. “Dress Up! Time Princess”, a female-oriented dress-up game released in August 2020, offers players a unique combination of interactive stories with character costume customisation. The game has been well-received by gamers since its debut and was featured by Apple’s App Store and Google Play multiple times in many countries. Its gross billing approached approximately US$3 million in January 2021 after the Group increased marketing spending in the North America and Europe markets in December 2020. As at February 2021, it has over 6 million registered users worldwide and nearly 1.8 million MAU. The Group will be launching more new titles, including strategy and action games, in 2021, to cater to different segments of the market. Investments During the Year, the Group focused on investing in mobile internet and gaming related companies and funds. Several of these investments have performed well. The Group’s gain on investments3 leapt to US$127 million, representing an increase of 381% year-on-year. Over the course of the Year, IGG has entered into strategic investment agreements with dozens of gaming companies across the world to strengthen its foothold in the gaming industry. Partnership models include licensed publishing and outsourced game development, which will enrich the Group’s game portfolio and create momentum for long-term growth. Throughout the Year, IGG continued to strengthen its R&D and operations in China. The Group acquired the land use rights of a parcel of land for a new office building in Fuzhou, China, to fulfil its long-term development plans. It has also set up R&D centres in Beijing, Shanghai and Chengdu, which are well-known Technology, Media and Telecom (TMT) talent hubs. The Group will continue to scale up its R&D teams in these cities, and lay a solid foundation for future development. Prospects: Moving forward, IGG will continue to invest heavily in its R&D and operation teams to deliver innovative and diversifi ed products to customers. Embracing the corporate spirit of “Innovators at Work, Gamers at Heart”, IGG will relentlessly pursue its strategy of quality, innovation and excellence to create innovative yet classic games.

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