According to the Zhitong Finance App, Jinshan Software (03888) announced results for the three months ended March 31, 2024. The group obtained revenue of RMB 2,137 million (same unit), an increase of 8% over the previous year; profit attributable to owners of the parent company was RMB 285 million, an increase of 48% over the previous year; and basic profit per share was 0.21 yuan.

Office software and service business revenue for the first quarter of 2024 was $1,225 million, up 17% from the same period last year and down 5% from the previous quarter. The year-on-year increase was mainly due to the increase in domestic personal office subscription business, institutional subscription business, and agency licensing business of Beijing Jinshan Office Software Co., Ltd. (Jinshan Office) and its subsidiaries (collectively known as “Jinshan Office Group”), which was partially offset by a decline in the Internet advertising business. The growth of the domestic personal office subscription business is mainly due to the increase in user stickiness and payment conversion, which is driven by the abundance of member benefits. The increase in domestic institutional subscriptions is mainly due to the launch of WPS 365, a new quality office productivity platform, and the company continues to promote the transformation of the institutional subscription model. The growth in institutional licensing business was mainly driven by Xinchuang purchase orders. The decline in the Internet advertising business was mainly due to the shutdown of domestic third-party commercial advertising services at the end of 2023.

Online gaming and other business revenue for the first quarter of 2024 was $912 million, down 1% from the same period last year and 11% from the previous quarter. The slight year-on-year decline was mainly due to a natural decline in revenue from several existing games, partly offset by revenue contributions from games released in the second half of 2023. The month-on-month decline mainly reflects a natural decline in a number of existing games, partly offset by an increase in active operation of the two-dimensional shooter “Dust White Forbidden Zone”.