[Mobile Game Stock 2400 Performance] Xindong Company’s profit last year increased by 89% to 1.54 billion RMB, dividend canceled, gaming business revenue increased by 10.5%

SocialAnxietyStaker · 2026-03-27T05:12:35+00:00

Xindong Company announced its annual results, with a net profit of 1.54 billion yuan, an increase of 89.2% year-on-year; revenue reached 5.76 billion yuan, up 15%. The gaming business benefited from the overseas performance of "Ragnarok M: Eternal Love," with gross profit margin improving to 73.8%. TapTap platform business also grew, but the number of online game users declined.

SocialAnxietyStaker

2026-03-27 05:12:35

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Xindong Company (02400)
Announces annual results. Xindong Company reported a profit attributable to equity holders of the company of RMB 1.54 billion, representing a year-on-year increase of 89.2%. The adjusted profit attributable to equity holders of the company was RMB 1.63 billion, up 85.7%, with basic earnings per share of RMB 3.19, and no dividend declared.

During the period, revenue was RMB 5.76 billion, up 15% year-on-year, with gross profit of RMB 4.25 billion, an increase of 22.3%. The overall gross margin improved by 4.4 percentage points to 73.8%, mainly due to the strong overseas performance of “Ragnarok M: Classic,” leading to an increase in the proportion of game operation revenue recognized on a net basis. This pushed the gross margin of the gaming segment from 62.6% to 67.4%, while the gross margin of the TapTap platform segment improved from 84.3% to 86.2%. Additionally, there was a favorable shift in the revenue mix, with the higher-margin TapTap platform segment increasing its share of total revenue from 31.5% to 34.1%.

Game business revenue increased by 10.5% to nearly RMB 3.8 billion, with online game revenue rising by 8.4% to nearly RMB 3.6 billion, and revenue from paid games increasing by 15.6% to RMB 130 million. Revenue from the TapTap platform business grew by 24.7% to RMB 1.97 billion, primarily due to improved advertising algorithms and enhanced user engagement.

During the period, the average monthly active users of online games decreased by 20.4% to 11.347 million, and the average monthly paying users also fell by 20.2% to 1.284 million, mainly due to the year-on-year decline in user numbers for the games “Heartopia” and “Sausage Man.”

The average monthly active users of the Chinese version of the TapTap app increased by 2.1% to 44.974 million, while the average monthly active users of the international version of the app dropped by 14.1% to 4.325 million.

As of December 31, 2025, the existing game portfolio includes 22 online games and 45 paid games.

Source: Xindong Company announcement

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