Summary by Futu AI
IGG Inc (stock code: 799) issued a profit warning on February 2, 2024, and expects to record a net profit of approximately HK$7000 million for the year ended December 31, 2023, compared to a net loss of HK$5 billion for the same period in 2022. This result is mainly due to the success of two strategic new games, Doomsday: Last Survivors and Viking Rise, as well as solid growth in the APP business, which increased revenue more than fourfold from last year. In addition, the Group has further improved operational efficiency by optimising its staff structure and investment business entering the revenue stream. The Board of Directors reminds shareholders and potential investors that the above financial data are preliminary, unaudited, final data may be adjusted and are expected to be released before the end of March 2024.