The top-down shooter mobile game “Starsea Attack” developed by NetDragon began a week-long debut test on the TapTap platform on July 2

Recently, the 7th Digital China Construction Summit was held at the Fuzhou Straits International Convention and Exhibition Center. As a leading enterprise in the digital economy in Fujian,NetDragon Network has been deeply involved for seven consecutive yearsOn the first day of the opening of the Experience Zone, the NetDragon Pavilion attracted many media reporters and professional visitors to experience and see the charm of cutting-edge digital technology.
NetDragon Vice Chairman Liang Nianjian said that at this exhibition, NetDragon focused on next-generation digital technology, empowering digital education from multiple dimensions such as hardware, software, and overall solutions with the theme of “Education Leads the Future, and Creating Quality Productivity Together”.
One million grains were exhibited for the first time to present an education-themed sandbox
Empowered by modern technology such as light, shadow, AI, AR, and VR, the historical details of the Gutian Conference were slowly presented, and the heroic images of seizing the Luding Bridge were exciting, and the feeling of being able to pick a star was like a dream...
At this summit, NetDragon will be exhibiting an education-themed building block interactive sandbox project for the first time. The project used nearly one million building block particles to create five major red-themed scenes, such as the Gutian Conference and the capture of Luding Bridge, as well as classic ancient poetry scenes such as “Overnight at Mountain Temple”. Combining interactive experiences such as AI performances, VR, AR, and flexible screens, through AR glasses, electronic displays, and lighting effects.A red educational picture and the beautiful mood of traditional Chinese poetry will be presented in front of everyone.
Chen Changjie, vice president of NetDragon Network, said in an interviewWe combined traditional building block sandboxes with digital interactive technology to develop this one which is both fun and educational...

The 25-year-old NetDragon has joy, enthusiasm, company, and passion! Next, join NetDragon and do our best to go to the future!

Time flies, and years are like songs. Today is the 25th anniversary of NetDragon's founding! We celebrate this special day by hosting the annual 518 Games, a vibrant music party, and a romantic fireworks show at the Changle base in Fuzhou. A huge bouquet of fireworks soared into the air, adding a splendid color to NetDragon's future.
Over the past 25 years, NetDragon has grown with the Chinese game industry, and has witnessed and helped the rise and rise of domestic games. Our classic IPs such as “Demon Domain”, “Conquest”, and “Soul Blade” are also loved by players around the world.
Our education business is developing rapidly. We have always been at the cutting edge of education technology. Our overseas subsidiary Mynd.ai has served more than 2 million classrooms in 192 countries and regions. Last year, we reached an important milestone in the spin-off and listing of our overseas education business.
In the future, we will lead industry transformation with technologies such as AI, VR/AR, and metaverse, and empower our gaming and educational products with technology. NetDragon has always been ESG-oriented and actively fulfils corporate social responsibility. We are empowering games with Chinese culture and revitalizing traditional culture in the digital world. At the same time, with the vision of promoting educational equity, we are committed to creating the most effective, efficient, and experiential educational products to empower learners and make the world a better place.
We sincerely thank all of our users, partners, and employees who have supported us, so we can do our best to welcome a better future!

In the context of the accelerated integration of numbers and reality, the video game industry is becoming a battleground for global technological innovation, and Chinese game companies seem to be one of the protagonists in the field. From initial introduction and imitation to now gradually embarking on a path of independent innovation with Chinese characteristics, domestic games have experienced a spectacular transformation from following to leading the way.NetDragon, 25, is a participant and witness to this history. Over the past 20 years, it has worked with many game companies and has become an important force in promoting scientific and technological innovation and industrial development with its continuous spirit of innovation.
Pioneering domestic self-research and adhering to the boutique route
Time goes back to the early millennium, when the Chinese game market was dominated by imported games, and the vast majority of companies chose to import overseas games to quickly recoup their investments. In this context, NetDragon has shown a different strategic vision, firmly embarked on the path of independent research and development, and became a leader in independent game innovation in China.
In 2001, NetDragon released its first self-developed work, “Phantom Ranger”. Over the next 20 years, NetDragon continued to innovate and seek change, writing game industry legends one after another.
In March 2002, “Phantom Ranger” was officially launched, allowing domestic players to experience the fun of an original online game for the first time. In an age where the total number of netizens was only 50 million, the number of people online at the same time surpassed 60,000.
Since then, NetDragon has independently developed a game engine, mastered the core technology of the game, and created the large-scale MMORPG online game “Conquest”,...

Recently, NetDragon's flagship game “Magic Domain” was officially announced that it will join hands with the Jiayuguan Great Wall, which has a history of more than 650 years, to jointly launch the “Protect the Great Wall” charity project.
Guarding the Great Wall: The mission of cultural heritage and protection
The Great Wall, a majestic dragon that stands on the land of China, has witnessed the vicissitudes of the Chinese nation for thousands of years. Like an impenetrable barrier, it stretches over the top of a group of mountains, twists and turns, and is imposing. Jiayuguan, as the western starting point of the Great Wall of China's Ming Dynasty, has been standing here since the 5th year of Hongwu (AD 1372). It has a history of more than 650 years. It is the oldest, most spectacular, and best-preserved ancient military gateway along the Great Wall of Ming Dynasty. It is also known as the “First Pass in Hexi” because of its important strategic position and majesty.
Currently, Jiayuguan is the best preserved part of the existing Great Wall. However, the Jiayuguan Great Wall also faces problems such as wind and rain erosion and historical causes, making it more difficult for relevant departments to protect it. Therefore, it is necessary to further strengthen the protection of the Great Wall and raise the level of protection to ensure that the Great Wall, a valuable cultural heritage of mankind, is better protected and inherited.
It is in this context that “Magic Domain” collaborated with the Jiayuguan Great Wall to jointly launch the “Protect the Great Wall” project. The plan aims to arouse public attention and awareness of the protection of the Great Wall, a world cultural heritage site, through a combination of games, cultural tourism, and public welfare. Meanwhile, explore “...

Due to copyright, the following is a summary of the research report for reference only
NetDragon | 777 HK
Investment Rating: Buy
Target price: HK$18
Securities Analysts: Jiang Ya, Feng Chongguang
In conjunction with the segment valuation method, we gave the company a target price of HK$18, maintaining a “buy” rating. Looking forward to the future, we expect the company's game business to achieve steady growth through the optimization of old games, the launch of new games & new IPs, while the overseas education business relies on cost-effective product lines to seize market share and also rely on SaaS solutions to obtain subscription revenue.
Game and application services business: 2023 revenue of 4.19 billion yuan/year over year +6.6%, with a good recovery trend.In 2023, the company's game and application service business achieved revenue of 4.19 billion yuan/ +6.6%, accounting for 59.0% /+9.0pcts of the company's revenue; gross margin increased slightly by 2.6 pcts to 88.5%, mainly due to the company optimizing server costs to achieve cost reduction and efficiency. Operating margin 33.4% /+1.9pcts.Specifically: ① By region:Domestic game business revenue was +10.5% year over year, mainly due to the recovery of the industry after the pandemic, which rebounded driven by players' spending capacity and will; overseas game business revenue was +4.5% year over year.② Sub-platforms:PC/mobile revenue was +11.1%/+2.0%, respectively.③ IP minutes:“Magic Domain” IP performance continued to be impressive, with revenue +12.4% year-on-year to 3.4 billion yuan, of which the mobile game “Magic Domain” revenue...

Following the current affairs hot topics of the China-Africa Internet Development Forum, NetDragon's educational achievements have once again become the focus of media attention in the province, and it has been successfully selected as a “digital education” case of exchanges and cooperation between Fujian and Africa. Related reports have recently appeared on many authoritative media such as “Fujian Daily” (front page), Learning Power (national platform), Fujian TV News, Southeast Network, etc., and received widespread attention.
Fujian: Sharing development achievements to create a better future(excerpt)
In the middle of spring, meet in the Southeast for a grand event.
From April 2 to 3, the 2024 China-Africa Internet Development and Cooperation Forum hosted by the State Internet Information Office, the Fujian Provincial People's Government, the Fujian Internet Information Office, and the Xiamen Municipal People's Government will be held in Xiamen.
Fujian is the core area of the 21st Century Maritime Silk Road. It is also the ideological source of digital China and the starting point of practice. The added value of the digital economy reached 2.9 trillion yuan in 2023, and the Internet industry continues to develop strongly.
In recent years, Fujian has firmly grasped the historical opportunities for China-Africa development cooperation, made full use of the advantages of the Pilot Free Trade Zone and the Pilot Digital Economy Innovation and Development Zone, and actively participated in the construction of the “Digital Silk Road” to build an interconnected network hub and informatization platform for economic and trade cooperation. Economic and trade cooperation between Fujian and Africa, especially the digital economy, has achieved fruitful results.
From providing digital education development solutions to Internet infrastructure construction, from network security to the supply of artificial intelligence products... opening a new chapter of exchanges and cooperation between Fujian and Africa, Fujian Internet companies are working together to write something brilliant...

Due to copyright, the following is a summary of the research report for reference only
NetDragon | 777 HK
Investment Rating: Buy
Securities Analyst: Lu Yi
NetDragon announced its 2023 results, with annual revenue of 7.10 billion yuan, -9.7% year on year; operating profit of 820 million yuan, -28.6% year on year; net profit to mother of 550 million yuan, -34.1% year on year; and non-IFRS net profit of 960 million yuan, -24.9% year on year. Magic Domain IP has strong vitality. Education tablets have started SaaS monetization and maintained purchase ratings.
Key points supporting ratings
Game revenue has achieved high single-digit growth, and Magic Domain IP has strong vitality.In 2023, the company's game and application service revenue was 4.19 billion yuan, +6.6% year-on-year, accounting for 59% of revenue; operating profit was 1.4 billion yuan, +12.9% year-on-year. Among them, game revenue was 3.8 billion yuan, +9.6% year over year; domestic/overseas game revenue was +10.5%/+4.5% year over year, respectively; and PC game/mobile game revenue was +11.1%/2.0% year over year to 32/590 million yuan, respectively. “Magic Domain” IP revenue was +12.4% to 3.4 billion yuan. Through high-frequency launch of new gameplay, new content, and improved player experience, the average gaming time of Magic Domain IP users was +50.4% YoY in 2023. “Soul Blade” IP revenue increased 5.8% year over year. In 2024, the company plans to launch new Magic Domain IP content and new types of games, and expand in Japan,...

[Hong Kong, March 27, 2024] NetDragon Network Holdings Limited (“NetDragon” or the “Company”; HKEx stock code: 777), the world's leading internet community creator, announced today its financial results for the full year of 2023. NetDragon management will hold a results conference and webcast on March 28, 2024 at 10 a.m. Hong Kong time to discuss financial results and recent business developments.
Dr. Liu Dejian, Chairman of NetDragon, said, “In 2023, we rationally laid out key strategic areas and made every effort to strengthen execution, thereby promoting sustainable growth and achieving remarkable results. Our gaming business revenue rebounded strongly, achieving revenue of RMB 3.76 billion for the full year, up 9.6% year on year (down 5.8% year on year in 2022). Our game business has achieved revenue growth in nine of the past ten years, and only experienced a decline in 2022 when the domestic economic growth rate slowed due to the pandemic. Our gaming revenue has grown 3.9 times over the past decade, almost entirely due to our endogenous growth, which is driven by our focus on providing players with high-quality games. In 2023, all of our core gaming IPs achieved strong performance. We are committed to driving player engagement and consumption, providing quality content, and consolidating our market-leading position through continuous innovation and investment in artificial intelligence (AI) technology...