Futu News reported on the 13th that Zulong Entertainment once rose more than 7%, and is now up 6.25% to HK$22.1.
Zulong Entertainment announced that the Group's adjusted net profit in mid-2020 is expected to increase by no less than RMB 100 million over the six months ending June 30, 2019, an increase of no less than 1000%.
This increase was mainly due to:
Revenue growth from integrated game distribution and operation businessesThis is mainly due to the growth of existing games in the first half of 2020 and the performance of selected new self-published games launched by the Group in overseas markets;
The Group generated more profit for the year ended December 31, 2019Top rated gamesIt was mainly launched in the second half of 2019.
According to the application of IFRS, the company expects losses during the period to increase by no less than 700% compared to the comparable period, mainly due to changes in the fair value of convertible and redeemable preferred shares.
The Group lost money during the period and during the comparable period, mainly due to the increase in the fair value of convertible and redeemable preferred shares due to the Group's processing of increases in group valuations in accordance with IFRS.
Editor/Lydiali, Jeffy