Mgame is showing strong performance. The steady increase in sales and the record-breaking sales streak appear to have influenced the stock price.
As of 10:58 AM on the 11th, Mgame was trading at 7,790 KRW, up 520 KRW (7.15%) compared to the previous trading day.
Mgame announced that in the second quarter of this year, it achieved consolidated sales of 17.9 billion KRW, operating profit of 3.7 billion KRW, and net profit of 4.8 billion KRW. This is the largest scale of sales for any second quarter in its history. Compared to the same period last year, sales and net profit increased by 35.1% and 22.4%, respectively, while operating profit decreased by 6.4%. For the first half of this year, sales reached 38.5 billion KRW, operating profit 7.9 billion KRW, and net profit 11 billion KRW, marking the highest sales for the first half. Compared to the first half of last year, sales and net profit increased by 35.1% and 33.4%, respectively, while operating profit decreased by 14%.
'Yeolhyeol Gangho Online' signed a license agreement in July with Chinese game company Kingnet to utilize graphic resources. The mobile MMORPG 'Jeonmin Gangho,' developed by Kingnet based on the graphics of 'Yeolhyeol Gangho Online,' was released in China on the 2nd and reached number one in the App Store popularity rankings. Mgame received an upfront payment of 2.75 million USD and will receive royalties. Mgame is also responsible for the domestic publishing service of the mobile game.
The Chinese version of 'Yeolhyeol Gangho Online' will implement updates in the second half of the year, including a player-versus-player combat system and new pets, as well as major seasonal events such as the Mid-Autumn Festival, National Day, and Guanggun Festival.
Mgame CEO Kwon Yi-hyung said, "Despite the seasonal off-season for PC online games in the first half, we achieved record-high sales in both the first and second quarters."
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