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Fire Rock Holdings Ltd., 08345.HK - Company Profile
Chairman	ZHANG Yan
Share Issued (share)	320,000,000
Par Currency	Hong Kong Dollar
Par Value	0.01
Industry	E-Commerce & Internet Services
Corporate Profile	Business Summary: The Group is principally engaged in browser and mobile games development, including the game design, programming and graphics and licensing of its games in China and overseas markets. Performance for the year: For the year ended 31 December 2018, the Group’s revenue amounted to approximately RMB160.7 million (2017: approximately RMB80.3 million), representing an increase of approximately 100.1%. For the year ended 31 December 2018, the Group’s gross profit amounted to approximately RMB144.2 million (2017: approximately RMB68.8 million), representing an increase of approximately 109.6%. For the year ended 31 December 2018, the Group’s profit for the year amounted to approximately RMB89.8 million (2017: approximately RMB43.4 million), representing an increase of approximately 106.9%. Business Review The group is a game developer focusing on the development of browser and mobile games. The group achieved substantial growth in the group’s results for the year 2018. This was mainly attributable to the game development ideas which the group adhered to as well as the refinement and cultivation of game products. During the year, the Group emphasised on continually increasing inputs for mobile games, developed and commercially launched numerous mobile game series, which better captured the development opportunity from the constantly fast-growing mobile game industry and attained satisfying results. In terms of financial performance, the group’s revenue increased by 100.1% from approximately RMB80.3 million for 2017 to approximately RMB160.7 million for 2018, of which the revenue of mobile games amounted to approximately RMB154.9 million, represented an increase of approximately 131.2% as compared to the same period in 2017. Revenue of mobile games amounted to 96.4% of the group’s total revenue. Profit increased by 106.9% from approximately RMB43.4 million for 2017 to approximately RMB89.8 million for 2018. In terms of game products, in 2018, the Group commercially launched three game series, the Super Rich (超級大富翁), the Age of Star Wars (星戰紀) and the Shaky Battle (晃晃大作戰), which further expanded the group’s game portfolio and diversified the group’s revenue sources. As at 31 December 2018, the Group has licensed seventeen self-developed games in aggregate, including the mobile and browser versions of Kings & Legends (王者召喚) series, the mobile and browser versions of Hero’s Crown (英雄皇冠) series, the browser version of Heroines of Three Kingdoms (姬戰三國) series, the mobile version of Endless Battles (無盡爭霸) series, the mobile version of Legend of Fairies (萌仙記) series, the mobile version of Road of Vengeance (復仇之路) series, the mobile version of Number Drop series, the mobile version of G-game series, the mobile version of Sweeties Fighting (零食大亂鬥) series, the mobile version of War of the Sulfulons (薩弗隆戰記) series, the mobile version of Super Tycoon (超級大亨) series, the mobile version of Forest Gala (森林大聯歡) series, the mobile version of Fish Catching Contest (捕魚大亂鬥) series, the mobile version of the Super Cute Monster (超級逗萌獸) series, the mobile version of the Super Rich (超級大富翁) series, the mobile version of the Age of Star Wars (星戰紀) series and the mobile version of the Shaky Battle (晃晃大作戰) series to various game operators for the operation, publication and distribution of such games within an agreed period and within designated territories. In 2018, affected by the downslope trend in the browser games industry, the revenue of the group’s browser games amounted to approximately RMB5.8 million, represented a drastic drop compared to the same period in 2017 yet it managed to account for 3.6% of the Group’s total revenue. This was attributable to the group’s analysis on game players’ demand and the continuous optimisation on the games’ core mode of play so as to constantly enhance the attractiveness of the group’s games to the players. The Group has submitted a formal application to the Stock Exchange on 9 October 2018 pursuant to Chapter 9A of the Listing Rules for the proposed transfer of listing of the shares of the Group from GEM to the Main Board of the Stock Exchange. The Board would like to emphasise that the definitive timetable for the transfer of listing has yet to be finalised. Further announcement(s) will be made by the Group to keep the shareholders and potential investors of the Group informed of the progress of the transfer of listing as and when appropriate. Industry Review In 2018, although the global game industry was highly competitive, the entire industry still achieved significant growth compared to the same period last year with the exceptionally outstanding performance of the PRC market. According to the “2018 Report on the Game Industry of China” (《二零一八年中國遊戲產業報告》) jointly published by the Game Publishers Association Publications Committee (GPC) of The China Audio-video and Digital Publishing Association (中國音數協遊戲工委), Gamma Data (伽馬數據) and International Data Corporation (國際數據公司), the total revenue for the game industry in China amounted to approximately RMB214.44 billion in 2018, represented an increase of 5.3% over the corresponding period last year, and accounted for approximately 23.6% of the global game market. Of which the revenue of mobile games amounted to 62.5% of the total revenue, represented an increase of 15.4% over the corresponding period last year, while the revenue of browser games amounted to only 5.9% of the total revenue, and represented a decrease of 18.9% over the corresponding period last year. The development of the industry was in line with the development strategies identified and established by the Group at the beginning of the year. During the year, the Group adopted the development strategies of improving the quality of existing browser games, while investing substantial resources in the research and development of mobile games, which maintained steady growth amid the keen competition of the mobile game market. The group’s Games In 2018, the group maintained the group’s capabilities and advantages in the research and development in turn better captured the development opportunity from the fast growing global mobile game markets and the group boosted the investment in game research, which resulted in the research and development of six mobile games with high quality and creative modes of play. Also, the group continued to optimise and upgrade the group’s existing games and the group commercially launched three mobile game products during the year by grasping the group’s strong accumulation of technological knowledge and the group’s innovative creativity in the research and development, which further expanded the group’s game portfolio and diversified the group’s revenue sources. As at 31 December 2018, the Group has commercially launched seventeen major games series in aggregate, including the mobile and browser versions of the Kings & Legends (王者召喚) series, the mobile and browser versions of the Hero’s Crown (英雄皇冠) series, the browser version of the Heroines of Three Kingdoms (姬戰三國) series, the mobile version of the Endless Battles (無盡爭霸) series, the mobile version of the Legend of Fairies (萌仙記) series, the mobile version of the Road of Vengeance (復仇之路) series, the mobile version of the Number Drop series, the mobile version of the G-game series, the mobile version of the Sweeties Fighting (零食大亂鬥) series, the mobile version of War of the Sulfulons (薩弗隆戰記) series, the mobile version of the Super Tycoon (超級大亨) series, the mobile version of the Forest Gala (森林大聯歡) series, the mobile version of the Fish Catching Contest (捕魚大亂鬥) series, the mobile version of the Super Cute Monster (超級逗萌獸) series, the mobile version of the Super Rich (超級大富翁) series, the mobile version of the Age of Star Wars (星戰紀) series and the mobile version of the Shaky Battle (晃晃大作戰) series. Among the aforesaid game series with successful commercial launch, the Kings & Legends (王者召喚) series, magical and fantasy-based tactics card games in Japanese style representing the group’s first independently developed game series, has been in the market for over 6 years since its commercial launch in March 2012. Its longer-than-average life cycle has been primarily attributable to the group’s incessant effort in upgrading and optimising the game contents to appeal to players, increase their participation and enhance their game experience, which have also resulted in stable income for us. For the year ended 31 December 2018, revenue generated from the Kings & Legends (王者召喚) series maintained its important position in the group’s game portfolio, accounting for approximately 2.4% of the group’s total revenue for the year. The Hero’s Crown (英雄皇冠) series, turn-based tactics card RPG games in fantasy-style against a medieval European setting representing the group’s second independently developed game series, has continued to contribute substantial income since its commercial launch in January 2015 more than 3 years ago. For the year ended 31 December 2018, revenue generated from the Hero’s Crown (英雄皇冠) series accounted for approximately 2.4% of the group’s total revenue for the year. The mobile version of the Sweeties Fighting (零食大亂鬥) series, a cartoon-style tower defense game commercially launched in May 2017, reported revenue of approximately RMB51.8 million for the year ended 31 December 2018, accounting for approximately 32.2% of the group’s total revenue for the year. The mobile version of the Fish Catching Contest (捕魚大亂鬥) series, a magical and fantasy-based hunting game commercially launched in December 2017, reported revenue of approximately RMB65.8 million for the year ended 31 December 2018, accounting for approximately 40.9% of the group’s total revenue for the year. The success of the aforementioned game series has highlighted the group’s emphasis on meticulous attention to details in product development and the group’s research and development capabilities in delivering exquisite games, and has also bolstered the group’s confidence in sustaining the group’s operations through ongoing optimisation and upgrades of the group’s premium games. Such success has also reflected the breakthrough the group have achieved in the increasingly competitive market for mobile games and a greater market share the group garnered thanks to the group’s astute perception of and swift response to market developments, proactive approach to understand current trends and formulate lucid development strategies, and effort to seize opportunities in market developments on the back of the group’s inherent strengths by committing significant resources to the research and development of mobile games. In terms of financial performance, the Group’s revenue for the year ended 31 December 2018 amounted to approximately RMB160.7 million, increasing by approximately RMB80.4 million compared to approximately RMB80.3 million for the year ended 31 December 2017. Revenue generated from browser games and mobile games amounted to approximately RMB5.8 million and approximately RMB154.9 million, respectively, decreasing by approximately RMB7.5 million and increasing by approximately RMB87.9 million, respectively, as compared to approximately RMB13.3 million and approximately RMB67.0 million, respectively, for the same period of 2017. Revenue generated from mobile games accounted for 96.4% of the Group’s revenue. Profit attributable to owners of the Company amounted to approximately RMB89.8 million for the year ended 31 December 2018, increasing by RMB46.4 million from approximately RMB43.4 million for the year ended 31 December 2017. In terms of game products, three mobile games, the Super Rich (超級大富翁), the Age of Star Wars (星戰紀) and the Shaky Battle (晃晃大作戰), were commercially launched in February 2018, June 2018 and July 2018 in a further enrichment of the group’s portfolio of games. In addition, due to the business realignment of game operators, the group underwent negotiation with licensed operators and discontinued the operation of three game series on the platform of licensed operators, namely the Endless Battles (無盡爭霸) series, the Legend of Fairies (萌仙記) series and War of the Sulfulons (薩弗隆戰記) series in April and July 2018, terminating the operation of such three games. As at 31 December 2018, there were 14 game series under licenses to game operators for operation, launch and distribution (namely, in operation) within an agreed period in designated territories. For the year ended 31 December 2018, revenue generated by the group’s 5 leading game series in monetary amounts and as a percentage of total revenue are set out as follows: the mobile version of the Fish Catching Contest (捕魚大亂鬥) series commercially launched in December 2017 reported revenue of approximately RMB65.8 million for the year ended 31 December 2018, accounting for approximately 40.9% of the group’s total revenue; the mobile version of the Sweeties Fighting (零食大亂鬥) series commercially launched in May 2017 reported revenue of approximately RMB51.8 million for the year ended 31 December 2018, accounting for approximately 32.2% of the group’s total revenue; the mobile version of the Shaky Battle (晃晃大作戰) series commercially launched in July 2018 reported revenue of approximately RMB15.6 million for the year ended 31 December 2018, accounting for approximately 9.7% of the group’s total revenue; the mobile version of the Age of Star Wars (星戰紀) series commercially launched in June 2018 reported revenue of approximately RMB4.6 million for the year ended 31 December 2018, accounting for approximately 2.8% of the group’s total revenue; the mobile version of the Kings & Legends (王者召喚) series commercially launched in March 2012, reported revenue of approximately RMB3.9 million for the year ended 31 December 2018, accounting for approximately 2.4% of the group’s total revenue. As at 31 December 2018, the group also had four game series under research and development, including the Royal Tycoon (皇家大亨) series, the Royal Fish Catching (皇家捕魚) series, Sweeties Fighting 2 (零食大亂鬥2) series and Super Diglett Fighting （超級地鼠大亂鬥） series. Subject to their development progress and market response, the Royal Tycoon (皇家大亨) series, the Royal Fish Catching (皇家捕魚) series and the Sweetie Fighting 2 (零食大亂鬥2) series are expected to be launched in the second quarter of 2019; the Super Diglett Fighting (超級地鼠大亂鬥) series is expected to be launched in the third quarter of 2019. Prospects: To address escalating competition in the market, the group will continue to operate with diligent and meticulous efforts. The group will continue to grow the group’s strengths in research and development and leverage the group’s solid capabilities in research and development and innovation to develop exquisite games with higher quality and longer life-cycle, upgrade and optimise existing games, and invest comprehensive resources in the group’s core products. The group will also make vigorous endeavours in the development of innovative game types and develop a wide variety of exquisite games with quality and vitality, so as to further enhance the Group’s profile as a top-class global game content provider. The group will continue to enhance the group’s cooperation with licensed operators through the introduction of new modes of play, the launch of different language versions for different players, investigate the operation mode for licensed games with licensed operators, and implement precise management and innovative promotion of the group’s games, with a view to giving full play to the group’s strengths in the research and development of games and enhancing the group’s reputation in the research and development of games. Moreover, with the presence in Chinese game market, the group will actively expand overseas markets and promote the group’s games to new potential areas and regions. By further strengthening the group’s international competitiveness, the group strive to evolve and grow in such highly competitive environment.

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Public company info - Fire Rock Holdings Ltd. , 08345.HK