Zengame Technology's Profit Slides in 2024

MT Newswires Live03-21

Zengame Technology (HKG:2660) recorded a decline in attributable profit for the year 2024 to 430.7 million yuan from 725.9 million yuan in the year-ago period, a Thursday filing with the Hong Kong bourse said.

Earnings per share were 0.4182 yuan in the year, down from 0.7118 yuan in the previous corresponding year.

The mobile game developer's revenue fell by 20% to 1.66 billion yuan in the year from 2.06 billion yuan a year prior, mainly due to a reduction in the number of paying users and a decrease in monthly average revenue per paying user for its board games.

The firm attributed the lower profit mainly to a lower revenue from the sale of virtual items, a decrease in gross profit, and a higher income tax expense.

The company recommended a final dividend of HK$0.15 per share for the year, payable on or before July 9, to shareholders of record on June 16.

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