IGG Inc. reported a 12% year-on-year revenue decline to US$312.3 million for the first half of 2020, driven by the natural lifecycle of legacy gaming titles.
02
Net profit surged 88% to US$132.8 million, achieved through disciplined cost management in advertising and R&D alongside gains from strategic equity investments like XD Inc.
03
The company maintained a strong liquidity position with US$339.9 million in cash and zero bank borrowings as of June 30, 2020.
04
Shareholders received US$93.8 million in value through a combination of dividends and share repurchases during the period.
05
Total equity increased to US$462.7 million, supported by a US$54.3 million rise in the fair value of the firm's investment portfolio.
06
The company is diversifying its business model beyond core gaming into utility applications and is utilizing contingency plans, such as alternative domestic publishing partnerships, to mitigate regulatory risks in the People’s Republic of China.
Insights
01
IGG Inc. reported a 12% year-on-year revenue decline to US$312.3 million for the first half of 2020, driven by the natural lifecycle of legacy gaming titles.
02
Net profit surged 88% to US$132.8 million, achieved through disciplined cost management in advertising and R&D alongside gains from strategic equity investments like XD Inc.
03
The company maintained a strong liquidity position with US$339.9 million in cash and zero bank borrowings as of June 30, 2020.
04
Shareholders received US$93.8 million in value through a combination of dividends and share repurchases during the period.
05
Total equity increased to US$462.7 million, supported by a US$54.3 million rise in the fair value of the firm's investment portfolio.
06
The company is diversifying its business model beyond core gaming into utility applications and is utilizing contingency plans, such as alternative domestic publishing partnerships, to mitigate regulatory risks in the People’s Republic of China.