Caixin Global News on October 28th, the domestic mobile gaming market warmed up in Q3, with the kingnet network (002517.SZ), rich in IP reserves, achieving double growth in revenue and net income, exceeding the general expectations of institutions. Since the beginning of the year, the company has obtained ten game licenses, ranking among the top in reserves in the industry, with multiple new games starting testing recently.

Today, Kingnet Network announced that in Q3 this year, the company achieved revenue of 1.372 billion yuan, a year-on-year increase of 30.33%; achieved net profit attributable to shareholders of listed companies of 0.471 billion yuan, a year-on-year increase of 31.52%. In the first three quarters, the company achieved revenue of 3.928 billion yuan, a year-on-year increase of 29.65%; achieved net profit attributable to equity holders of 1.28 billion yuan, a year-on-year increase of 18.27%.

Despite the company not launching any key new games in Q3, revenue increased by approximately 10% compared to the previous quarter, and net profit attributable to equity holders increased by 22.97% driven by legendary IP games.

Specifically, due to increased marketing costs, the company's Q3 sales expenses increased by approximately 49.5 million yuan; at the same time, research and development expenses increased by approximately 52.9 million yuan.

According to reports, the growth of Kingnet Network's performance mainly comes from its various IP games. Among them, the newly launched game this year, 'Chinese Paladin: A New Beginning,' has achieved remarkable results on both the App and Mini Program platforms. Recently, the announcement of CMGE (00302.HK) acquiring the global rights to Chinese Paladin IP has attracted investor attention. In response to investors on the interactive platform, Kingnet Network recently stated that the acquisition of rights by CMGE does not affect the normal operation of 'Chinese Paladin: A New Beginning.'

Kingnet Network currently has dozens of games in reserve waiting to be launched, including 'Digimon: Source Code,' 'Dragon Legend,' 'Liángshān Chuanqí,' 'Returning to Shān Jū Tú,' etc. Recently, the company's 'Eternal Dragon Clan' and 'Black Dragon Storm' have obtained game licenses. Caixin Global reporters noted that since the beginning of the year, the company has acquired ten game licenses, ranking at the forefront in quantity in the industry.

Recently, Kingnet Network's multiple new games have started testing. According to the company, the 3D action MMORPG mobile game 'Dragon Nest World,' jointly distributed with Shengqu Games, performed well during testing and may be launched by the end of the year. In addition, the game developed by Kingnet Network and published by Tanwan Games, 'Soul Land: The Legend of Killing Evil,' started its first round of testing on October 10th; the authorized LaTale genuine mobile game 'Rainbow Orange' also started public testing on October 20th.