Forgame Announces Positive Profit Alert, Expected RMB25-35 Million In Net Profit For The First Half Of 2018

Forgame Announces Positive Profit Alert, Expected RMB25-35 Million In Net Profit For The First Half Of 2018

Deepen Big Data Layout, Steady Growth In Overall Business

HONG KONG, May 21, 2018 /PRNewswire/ -- Forgame Holdings Limited ("Forgame" or the "Group") (stock code: 484), a leading FinTech company and a developer and publisher of mobile games and webgames in the PRC, is pleased to announce that the Group is expected to achieve a net profit ranging from approximately RMB25.0 million to RMB35.0 million for the six months ended 30 June 2018, representing significant improvement compared with the same period last year. Thanks to the investment and continuous advancement in big data analysis capabilities, the Group's FinTech business continued to develop steadily. Since the announcement of its strategic transformation last year, the Group has focused on optimizing its resource allocation on the basis of shareholders' interests, and has made progress in overall operating efficiency. At the same time, the Group also received great returns on investments.

Forgame has continued to develop steadily since the turnaround last year. The solid growth was largely driven by the Group's key layout on big data, which promoted the rapid development of its online wealth management platform and the Internet micro-lending business. Forgame has been expanding its big data analysis capabilities, by which it facilitated the operation of its online wealth management platform and developed four artificial intelligence systems, further strengthening its core competitiveness.

Since the launch of the Internet micro-lending business, the Group rapidly accumulated large amounts of user data and established a set of efficient micro-lending risk management models based on its big data analysis capabilities. The Group obtained an Internet micro-lending business license last year and provided individuals and consumers unserved by traditional financial institutions in China with flexible short-term financing solutions. As the regulatory environment for FinTech in China tightens, the Group is confident that its micro-lending business, which is compliant, licensed, and equipped with big user data and technological capabilities, will see healthier and more sustainable growth.

Forgame's FinTech business sector has two major advantages, namely Internet traffic portal and big data risk management capability. In the future, the Group will continue to adhere to a differentiated operation model based on big data and will provide users with great product experience under the principles of "simple happiness, easy wealth management".

Mr. Dongfeng Wang, Chairman and Chief Executive Officer of Forgame, said, "We are very pleased to report that we expect great results in early 2018, and I am very glad to be able to share this joy with our shareholders. Forgame has taken the lead in deploying technological investments into big data, and we have achieved positive preliminary results. However, this is only the first step. The industry will usher in even greater changes in the future. We will continue to make efforts to develop and strengthen our big data analysis and explore opportunities in artificial intelligence, in order to further enhance our core competitiveness and continue to create value for our shareholders."

About Forgame Holdings Limited (stock code: 484)

Established in 2009 and listed on the Hong Kong Stock Exchange on 3 October 2013, Forgame Holdings Limited is a leading company of mobile games and webgames in China, and is now speeding up the development of FinTech business. 

Forgame aims to create an inclusive financial ecosystem and become one of the most influential FinTech companies in China. In December 2016, the Group obtained a license from the government to carry out internet micro-lending business in the PRC. In August 2017, the Group acquired China's leading FinTech platform Jianlicai. In the future, Group is expected to further strengthen the presence in the FinTech market, and provide users with great product experience under the principles of "simple happiness, easy wealth management".

Disclaimer

This presentation contains forward-looking statements. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "confident" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, Forgame's limited operating history, especially in certain new segment of its business; its ability to develop and operate new games that are commercially successful; the growth of the online game market and the continuing market acceptance of its games and in-game items in China and elsewhere; its expectations regarding demand for and the continuing market acceptance of its financial products; its expectations regarding keeping and strengthening its relationships with borrowers, strategic partners, suppliers and other parties it collaborate with; its ability to attract and retain borrowers and investors; its ability to increase volume of loans; its ability to introduce new products and software enhancements; its ability to protect intellectual property rights; its ability to respond to competitive pressure; its ability to maintain an effective system of internal control over financial reporting; changes in the regulatory environment in any relevant jurisdictions; economic slowdown in China and/or elsewhere; and assumptions underlying or related to any of the foregoing are or become untrue. Forgame does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

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