On November 21, Gluonhui reported that Boyaa Interactive (00434.HK) announced that for the nine months ending September 30, 2024, the group recorded revenue of approximately RMB 0.318 billion, an increase of about 8.1% year-on-year; profit attributable to the owners of the company was RMB 0.212 billion, a year-on-year increase of 149.4%; the adjusted net profit according to non-International Financial Reporting Standards was RMB 0.216 billion, a year-on-year increase of 148.5%.
The increase in revenue is mainly due to (i) the appreciation of digital assets held by the group in the crypto market; and (ii) the organization of certain online operation activities and the ongoing optimization of gaming products and gameplay, which led to an increase in revenue from online games.
From the operational data, the number of paying players in the third quarter of 2024 showed a slight decline compared to the second quarter of 2024, decreasing by 2.9% from approximately 0.21 million in the second quarter to about 0.2 million in the third quarter of 2024. However, in the third quarter of 2024, the group’s number of users showed a certain increase compared to the second quarter of 2024, with daily active users increasing by 4.4% from approximately 1.12 million in the second quarter of 2024 to about 1.17 million in the third quarter, while monthly active users increased by 10.5% from about 0.41 million in the second quarter of 2024 to approximately 0.45 million in the third quarter. The ARPPU value of the group's mobile Texas Hold'em has risen.
During the third quarter of 2024, the group successfully held the BPT brand series events - the 2024 BPT All-Server Online Competition. The event attracted approximately 78.6 thousand participants from multiple countries and regions in Asia and Europe, further enhancing the group's brand influence and allowing it to continue making steady progress in building an internationally renowned poker competition brand.
The company will further increase research and development efforts for Web3 game products, continuously enriching the content and gameplay of games, and consistently improving the group's gaming functions and infrastructure (including Web3-related infrastructure), striving to enhance user experience. The group will continue to explore gaming products, especially the operational models of Web3 game products, cultivating high-quality board game products, competitive event products, and industry-leading Web3 gaming products with fine details and diversified operations. The group will continue to expand overseas markets while consolidating its existing market, and will vigorously promote the group’s business development and layout in the Web3 field to realize its strategic plan for business development in the Web3 domain.
Continuously expanding bitcoin reserves is an important global strategy for the group. The group holds an optimistic view on the crypto market and the development of bitcoin, believing that bitcoin has long-term value. The group will hold bitcoin for the long term and will continue to expand its reserves. The group will further explore continuously increasing the quantity of bitcoin held, not ruling out financing in the secondary market through placements or other forms to expand reserves. The company will strictly comply with the laws and regulations of the various jurisdictions in which it operates, steadily developing online chess and card games and the Web3 field, and is committed to creating high-quality board game products and industry-leading Web3 game products, focusing on establishing the company as a pure and leading publicly listed Web3 company.
