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Public company info - Infinities Technology International (Cayman) Holding Limited , 01961.HK

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Infinities Technology International (Cayman) Holding Limited, 01961.HK - Company Profile
Chairman Lu Jian
Share Issued (share) 546,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The group is a digital entertainment content provider in the PRC with a diversified content portfolio comprising (i) mobile games mainly played on android operating system, (ii) e-magazines, and (iii) other digital media content such as comics and music. Performance for the year: The Group’s revenue increased by approximately RMB76.2 million or 53.3% from approximately RMB143.0 million for the year ended 31 December 2018 to approximately RMB219.2 million for the year ended 31 December 2019. Business Review: Jiu Zun Digital Interactive Entertainment Group Holdings Limited is a digital entertainment content provider in the PRC with a diversified content portfolio comprising (i) mobile games mainly played on android operating system; (ii) e-magazines; and (iii) other digital media content such as comics and music. The Group commenced the Group’s digital media content distribution business in 2011, and expanded the Group’s product offerings to mobile games in 2014 when the Group first began to develop and/or operate a wide range of casual mobile games. Apart from casual mobile games which the Group focused primarily before 2017, the Group also commenced development and operation of boutique mobile games since 2017 and launched the Group’s first multi-player mobile game in January 2019. Since 2018, the Group have also cooperated with corporate customers who make use of the in-game airtime provided by us for placing their media content for advertising purpose. In 2019, majority of the Group’s revenue was derived from the sale of virtual items in the Group’s casual and boutique mobile games. The Group’s revenue increased by approximately RMB76.2 million or 53.3% from approximately RMB143.0 million for the year ended 31 December 2018 to approximately RMB219.2 million for the year ended 31 December 2019. The increase of the Group’s revenue is mainly due to the increase in revenue from the Group’s mobile game development and operation business by RMB98.9 million and partially offset by a decrease in revenue from digital media content distribution business of RMB24.1 million. The gross profit also increased by approximately RMB17.3 million or 27.7% from approximately RMB62.3 million for the year ended 31 December 2018 to approximately RMB79.6 million for the year ended 31 December 2019 due to an increase in revenue by RMB76.2 million, partially offset by an increase in cost of sales by RMB58.9 million as a result of an increase in the Group’s service fee charged by the distribution channel providers. The gross profit margin also decreased from approximately 43.6% for the year ended 31 December 2018 to approximately 36.3% for the year ended 31 December 2019, which mainly due to the relatively lower gross profit margin from the Group’s multi-player mobile games development and operation, as the Group’s Group has just started penetrating into the business line of multi-player mobile games. The profit for the year decreased by approximately RMB10.5 million from approximately RMB51.7 million for the year ended 31 December 2018 to approximately RMB41.2 million for the year ended 31 December 2019. The decrease was primarily due to a substantial amount in reversal of impairment losses on trade receivables of RMB17.3 million incurred for the year ended 31 December 2018 and an increase in listing expenses of RMB4.5 million for the year ended 31 December 2019 as compared to last year. Excluding the listing expenses and – 3 – reversal of impairment of trade receivables, the adjusted profit for the year increased by approximately RMB10.7 million or 27.2% from approximately RMB38.9 million for the year ended 31 December 2018 to approximately RMB49.6 million for the year ended 31 December 2019. The net profit margin decreased from approximately 36.1% for the year ended 31 December 2018 to approximately 18.8% for the year ended 31 December 2019. Prospects: In 2020, the Company plans to focus on its boutique single-player mobile games development and operation and multi-player mobile games development and operation business. In March 2020, the Company launched its sixth multi-player mobile game Edge of Dream(逐夢邊緣), which is a licensed game with a fairy adventure genre. In addition, one more licensed multi-player mobile game Raging Dragon Slayer (烈火屠龍) and three self-developed single-player mobile games of difference genres are expected to be rolled out in the second quarter of 2020, including Fight against Love (消消愛大戰), Space Marbles (太空彈珠機) and Bubbles Fairground (泡泡樂園). With the shift of focus of the Group to multi-player mobile game development and operation business, larger scale and proportion of the Group’s revenue are expected to be derived from multi-player mobile game development and operation in 2020.

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