[Announcement+] Longtu Korea Q3 Revenue 16.3 Billion KRW... 106% Increase YoY

[Asia Economy Reporter Koo Eun-mo] Longtu Korea announced on the 13th through a public disclosure that its consolidated financial statements for the third quarter of this year showed sales of 16.3 billion KRW, an increase of 106.9% compared to the same period last year. Operating profit for the same period was recorded at 800 million KRW.

The strong performance was contributed by the steady popularity of Longtu Korea's new mobile games released in the first half of this year, "Yong-ui Giwon" and "Kairos." Based on cumulative third-quarter figures, "Yong-ui Giwon" and "Kairos" recorded sales of 12.1 billion KRW and 13 billion KRW, respectively. Long-running hit games such as "Yeolhyeol Gangho for kakao" and "Boss Rave" continue to generate consistent revenue, and royalty income from the "Yeolhyeol Gangho" IP owned by Longtu Korea is also steadily occurring.

A company official stated, "Although a net loss was recorded due to financial asset valuation losses caused by the decline in the stock price of THE E&M, which we hold, THE E&M's stock price has recently risen significantly, so no valuation loss is expected in the fourth quarter. We also expect that additional royalty income from the 'Yeolhyeol Gangho' intellectual property (IP), driven by the anticipated success of 'Jin Yeolhyeol Gangho,' an upcoming release by Mgame in Taiwan within this year, will contribute positively to the fourth-quarter performance."