Zhongtong Finance APP news, Crazy Sports (00082) announced its mid-term performance in 2024, with revenue of approximately 0.208 billion Hong Kong dollars, a year-on-year decrease of 23.7%. The company's owners' loss was 5.662 million Hong Kong dollars, narrowing by 40.16% year-on-year; loss per share of 0.13 Hong Kong cents.

The announcement stated that the decrease in revenue was mainly due to the reduction in revenue generated by sports and leisure gaming business due to the adjustment of business models and uncertain industry prospects. The narrowing of the loss was mainly due to the increase in gross margin after adjusting the business model and product structure, as well as the reduction in marketing expenses.

In the first half of 2024, the group continued to develop steadily with the main line of digital sports and entertainment business focusing on 'Crazy Red Envelope + Sports Lottery New Retail'. The group continuously optimized the business models and strategies of sports and leisure gaming, focusing on issuing sports games using the group's existing IP rights, while reducing investment in lower ROI other gaming businesses. The group will continue to invest resources in AI technology, providing new opportunities for content creation and distribution for sports knowledge payment business.

In the first half of 2024, the group's sports knowledge payment platform achieved a revenue increase of 8.9% compared to the same period in 2023. At the same time, the average monthly active users increased by 4.0% compared to the same period in 2023. During the 2024 UEFA European Championship, Crazy Red Envelope used AI Agent technology, relying on large language models, combining the group's rich accumulated data resources over more than 20 years, through data optimization and user behavior analysis, as well as expert analysis methods, to build a unique knowledge base and launch the first domestic 'sports + lottery' vertical domain large-model AI assistant 'Ruyi'. The group hopes that the launch of the AI assistant 'Ruyi' will enhance product competitiveness and user retention rates in the future.