Changyou Alliance Group reports narrower H1 loss despite revenue dip

Changyou International Group Limited reported consolidated revenue of RMB90.4 million for the six months ended June 30, 2025, an 11.8% decrease from RMB102.4 million in the corresponding period of 2024. The group's net loss for the period was RMB3,788,000, compared to RMB8,083,000 in 2024. Despite the revenue decline, gross profit increased to RMB19.6 million from RMB18.4 million, with the gross profit margin rising to 21.7% from 18.0%.

The Changyou Platform saw its total registered users grow by approximately 23.2 million to 275.0 million as of June 30, 2025, compared to December 31, 2024. Total transaction volume for the Changyou Alliance business reached RMB122.7 million. The group continued to prioritize cost control, resulting in a 32.5% decrease in administrative expenses to RMB9.8 million and a 14.7% reduction in research and development costs to RMB3.4 million.

Financially, the group's cash and cash equivalents increased to RMB26.6 million from RMB8.2 million at December 31, 2024. The group’s current ratio was 0.73, while total borrowings, including convertible bonds and equity shareholder loans, amounted to RMB165.3 million. The board did not recommend an interim dividend for the period.