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Public company info - Ourgame International Holdings Ltd. , 06899.HK
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Ourgame International Holdings Ltd., 06899.HK - Company Profile
Chairman LI Yangyang
Share Issued (share) 1,078,000,000
Par Currency U.S. Dollar
Par Value 5.0E-5
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The principal activities of the Group are online card and board games development and operation via its subsidiaries in the People’s Republic of China (the “PRC”) and eSports business and WPT business (“WPT Business”) via Allied Esports Entertainment, Inc. (NASDAQ: AESE). Performance for the year: In 2020, revenue of the Group from continuing operations amounted to RMB110.4 million, representing a decrease of RMB34.3 million or 23.7% as compared with RMB144.7 million for the year ended 31 December 2019. The gross profit margin of the Group from continuing operations decreased from 35.9% for the year ended 31 December 2019 to 22.3% for the year ended 31 December 2020. The loss attributable to equity holders of the Company amounted to RMB186.4 million (which comprised loss of RMB180.8 million from continuing operations and loss of RMB5.6 million from discontinued operations) for the year ended 31 December 2020, as compared with the loss attributable to equity holders of the Company of RMB419.2 million (which comprised loss of RMB410.6 million from continuing operations and loss of RMB8.6 million from discontinued operations) for the year ended 31 December 2019. Business Review The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of Ourgame International Holdings Limited (the ‘‘Company’’ or ‘‘Ourgame’’) hereby announces the annual results of the Company and its subsidiaries (collectively, the ‘‘Group’’) for the year ended 31 December 2020. The annual results have been reviewed and approved by the Company’s audit committee (the ‘‘Audit Committee’’). In the face of the domestic regulatory environment and ongoing market challenges, the Group has taken proactive actions to respond. The Group’s operations in China have developed relatively steadily. Suffering from the persistent COVID-19 pandemic overseas, the Company’s events at eSports venues outside China and the offline tournaments were under restrictions, which has an impact on our revenue to a certain extent. However, the Group believes that following the adjustment of our business structure and adaptability to the current market environment, our revenue will resume to a normal level soon. The Company continued to implement new business models, such as establishing a partnership with iQIYI, a video platform giant, to give users an enriching entertainment experience in different scenes. A web game named All City Fight Landlord（《全城鬥地主》）which is jointly operated by both parties, has been enlisted on the game centre of iQIYI. Ourgame will be able to reach hundreds of millions of user groups of iQIYI through this partnership. At the same time, the Company continued to optimise its online board game operations in China, and reaped better results through a series of marketing campaigns based on brand accumulation and a loyal user base, coupled with the redevelopment of core classic games with new features, which not only attracted new users but also reactivated prolonged dormant users. The Company has also introduced a business model of ‘‘free-touser, paid-by-advertiser’’ in mobile games, which has also become a new income source. In addition, the Company has launched HTML5 and ‘‘small programs’’ type of games, and established new distribution channels and partners, laying a foundation for exploring new channels for future growth. The Company will continue to venture into new business growth areas by connecting more diversified scenes based on the steady development of its existing business. In 2020, the eSports business of AESE, was affected owing to the closure of venues and the postponement of events due to the COVID-19 pandemic. Facing the challenges at the moment, AESE has proactively adjusted its operation strategies to focus on the advantages in terms of resources and experience, fully pursuing online cross-over contents such as production of shows and online tournaments. AESE has also launched multiple programming offerings, both proprietary and with partners, in the first half of 2020, including the production of HyperX Game Spotlight, a deep dive episodic program focused on game developers telling the stories behind the inspiration and evolution of their games, and Esportstudio, which brings traditional sports athletes together to compete in the video game version of their sport. In addition to live streaming on Twitch around the clock, Esportstudio also aired a new brand program called ‘‘Allied24Seven’’ that includes its all sorts of eSports events. In terms of online tournament systems, AESE has launched the 12th edition of its Legend Series event IP featuring VALORANT, the most popular new game from Riot Games. In addition, AESE in collaboration with Esports Entertainment Group successfully hosted the inaugural VIE.gg CS:GO Legends Series tournament, setting a new height of attention both in terms of online viewing and unique viewers. In terms of business partnership, AESE has also renewed its long-term partnership agreement with HyperX, the world’s leading gaming peripheral brand. Pursuant to which, HyperX will continue to be the exclusive owner of the AESE Global Flagship eSports Pavilion at the Luxor Hotel in Las Vegas, the United States, providing game products to support the game competitions and theme events in the pavilion. Both parties will also endeavor to provide gaming fans with innovative contents and satisfying experience. The World Poker Tour (‘‘WPT’’) has also hosted a wide array of online tournaments immediately following the offline tournaments were being constrained by the pandemic, so as to satisfy the demand for eSports from our users. Those included the tournaments under WPT partypoker series, as well as the online tournaments of WPT Asia and WPT India, all of which were well-received. Meanwhile, pioneering in cooperation of tournaments, WPT partnered with Budweiser and World Central Kitchen to produce the King’s Celebrity Poker Challenge on ClubWPT, which was aired through FS1 and OTT platforms with an audience base of over one million. In addition, offline tournaments have been restarted in the areas where the pandemic has subsided. it also held tournaments of WPT Japan in August 2020, with participants increased under such unfavorable conditions. In November 2020, WPT Deep Fundraising Tournament landed in Johannesburg, South Africa. In December 2020, WPT, for the very first time, tapped into Taiwan, China. The continuous content output of the online and offline tournaments was produced into television programs, digital videos, etc. to achieve interactions among platforms, which not only brought multiple sports experiences to those sports and poker fans around the world, but also effectively transformed into sales income. Prospects: Looking ahead, the Company will continue to optimise the board game operations of our subsidiaries in China, steadily develop its domestic business in China, and will leverage AESE as an operation platform to develop its overseas online games, eSports and related peripheral businesses. In addition, it will commence its operations in Southeast Asia as well as Japan and Korea by way of investment, joint venture and licensing if and when opportunities arise. Despite of the ongoing challenges, the Company remains confident and will continue to strive to move forward.

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