Century Cruises '2016 net profit of 1.07 billion yuan, new game launch revenue increased significantly

During the reporting period, total operating income was 2.32 billion yuan, a year-on-year increase of 17.6%; operating profit was 980 million yuan, a year-on-year increase of 363.29%; and net profit was 1.07 billion yuan, a year-on-year increase of 338.15%.

Original title: Century Cruises announced a net profit of 1.07 billion yuan in 2016 financial report

Giant Internet Cruises Company Chongqing New Century Cruises Co., Ltd. released its 2016 annual performance report. During the reporting period, total operating income was 2.32 billion yuan, a year-on-year increase of 17.6%; Operating profit was 980 million yuan, a year-on-year increase of 363.29%; net profit was 1.07 billion yuan, a year-on-year increase of 338.15%.

The announcement shows that the main reason for the increase in performance is the revenue growth caused by the launch of new games such as "Journey Mobile Edition","Ball Battle" and "Street Basket" in 2016 and the significant year-on-year decline in share-based payment fees.

In 2016, the company completed the material asset reorganization. On April 5, 2016, the company received the "Approval of the Material Asset Reorganization of Chongqing New Century Cruises Co., Ltd. and the Issuance of Shares to Shanghai Lanlin Investment Management Co., Ltd." from the China Securities Regulatory Commission. Reply to Purchase Assets and Raise Supporting Funds."

Since this material asset reorganization constitutes a reverse purchase, the legal parent company Century Cruises has become a shell company, and the legal subsidiary Giant Network has become an accounting purchaser. Therefore, the consolidated financial statements are prepared with reference to the reverse purchase principle. Therefore, the comparative financial data in the 2016 consolidated financial statements use the data of the accounting purchaser Giant Network's 2015 consolidated financial statements.

The announcement stated that Giant Network promised that the net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses in 2016, 2017 and 2018 will not be less than 1,001.7707 million yuan, 1,203.0286 million yuan and 1,503.1764 million yuan respectively. In 2016, Giant Network expects to achieve a net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses of 1,113.5082 million yuan, and is expected to fulfill its 2016 annual performance commitment.

Editor: Nancy