With the Rapid Expansion of Overseas Business, Kunlun Tech Achieved a net Profit of 374 Million Yuan in the First Quarter
On March 28, Kunlun Tech, China's leading Internet platform going overseas, released its 2022 first-quarter report. During the reporting period, the company's overseas business expanded rapidly. In the first quarter, it achieved an operating income of 1.193 billion yuan and a net profit attributable to shareholders of the listed company of 374 million yuan, a year-on-year increase of 17.2%. During the reporting period, the company further improved its long-term profitability and cash flow capability across the economic cycle and achieved a net operating cash flow of 315 million yuan, a year-on-year increase of 113.32%. The company's overseas business revenue increased by 25% year-on-year.
The report shows that Kunlun Tech will accelerate the layout of the Metaverse business in the first quarter of 2022, the overseas social entertainment business will expand rapidly, continue to promote the construction of the GXC game community, and the game platform is progressing smoothly in the UGC field.
In the first quarter, the company's overseas information distribution and metaverse platform Opera's game community platform GXC further enhanced its social attributes. As of the end of the reporting period, GXC had launched more than 1,100 games.
The company's overseas social entertainment platform StarX has comprehensively upgraded and optimized its flagship product, StarMaker, to provide richer social entertainment functions, and the creation tools have also been further optimized.
StarMaker continued to expand in the first quarter, especially in Latin America and Europe with strong growth. As of the end of the reporting period, StarMaker has ranked among the top five best-selling music apps in 102 countries.
Kunlun Tech's global mobile game platform Ark Games has shown stronger growth potential after completing its strategic upgrade.
In the first quarter of this year, "Tower of the Holy Land" independently developed by Ark Games was launched in Hong Kong, Macao, and Taiwan (the local name "Neverland of the Stars") and received a good response, with a single-day revenue exceeding 2.5 million yuan. Ark Games is actively exploring the field of UGC games, and the research and development of its platform game "Code D" are steadily advancing.
Kunlun Tech said that in the future, it will continue to focus on increasing the number of active users and market share, maintaining innovation, and continuously improving operating capabilities and operating levels.