Chinese Internet Firm Sanqi Reports 70% Surge in First-Half Net Profit
Zhang Xia
/SOURCE : Yicai
Chinese Internet Firm Sanqi Reports 70% Surge in First-Half Net Profit

(Yicai Global) Aug. 31 -- Chinese internet firm Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co. [SHE:002555] reported a first-half net profit increase of 75 percent annually reaching CNY851 million (USD129 million), driven by the performance of its game development and mobile game distribution businesses.

Operating income rose 27 percent to CNY3.079 billion (USD467 million).

The enterprise's mobile game business generated an operating income of CNY1.54 billion in the first six months, up 196% on the year, while its web game business contributed CNY1.21 billion (USD184 million) to total operating income.

Operating income from its online game business reached CNY2.78 billion (USD421 million), making up 90% of total operating income.

The firm is developing six web games and nine mobile games, which are expected to be on sale in the second half of 2017 and 2018. Sanqi projects operating results for the first three quarters of 2017 to grow 79.5% annually, while net profit will reach between CNY1.15 billion and CNY1.35 billion.

Wuhu Shunrong Sanqi Interactive Entertainment Network Technology is mainly engaged in interactive entertainment and auto parts businesses. The interactive entertainment unit focuses on research and development, distribution, and operation of mobile games and web games, as well as pan-entertainment such as video, animation, music, VR and live broadcasting. In the first half year, its auto parts business contributed CNY302 million (10 percent) to total revenue.

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Keywords: MSCI , Online Games , Manufacture