Glonghui, March 21 | Recently, Friendship Time (6820.HK) announced its 2023 annual results announcement. The company recorded total revenue of about 1.06 billion yuan (RMB, same below) during the period; the adjusted net loss for the year was about 130 million yuan. As the company's first year of loss, management carried out an in-depth review and came up with practical measures. The first is to optimize resource allocation and strengthen performance assessment for key cost items such as R&D and distribution; the second is to focus support at the level of creative projects, improve internal counseling mechanisms, increase prize ratios, and supplement equity incentive plans; and the third is to provide supporting support in technological fields such as AI/XR. Ultimately, we achieved the goal of stimulating organizational vitality and employee creativity, and improving product success rate and profit level. At the same time, the company revealed that several WeChat games have progressed smoothly recently, with monthly turnover exceeding 10 million; paid tests for the new product “Mojian Jianghu” have exceeded expectations and are expected to be officially launched in the summer program; in addition, several reserve projects have been revealed one after another, and the company's optimized management and strategic adjustments are beginning to bear fruit in 2024.