Feiyu Technology (01022) said it reported a loss attributable to owners of the parent of Rmb151 million for the year ended 31 December 2016, as compared to the profit of Rmb65.88 million for the previous financial year.
Basic loss per share was Rmb10 cents.
The revenue was Rmb188 million, a decrease of 41.6% from a year earlier. The gross profit fell 51.1% year-on-year to Rmb131 million.
The decrease in total revenue and the net loss in 2016 were primarily due to the decrease in revenue from existing games as they reach the mature stages of their product lifecycle; a delay in the launch of key new games due to the Group's strategic decision to invest additional development time and resources into enhancing their quality; and the underperformance of newly launched games in 2016.
No final dividend will be distributed.
24/03/2017 17:27
Feiyu (01022) year net turns red to Rmb151m; no div
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