根据公告，合作协议，创梦天地将负责为stc play提供游戏技术解决方案，并成为其独家的内容分发商。后续合作推进过程中，双方将积极协作，深入交换与共享必要的数据信息，并基于双方共同利益大力推动既定计划的有序执行，全力保障合作项目顺利实施并取得成功。① What agreement has IDREAMSKY reached with stc play? ② How has IDREAMSKY's performance been recently?
According to the financial news on December 19 (Editor: Hu Jiarong), IDREAMSKY (01119.HK) announced after Wednesday's trading session that they reached cooperation with Saudi Arabia's Game Platform stc play. However, this news did not boost the company's share price. As of the report, IDREAMSKY fell 3.11%, trading at 2.50 Hong Kong dollars.
Note: IDREAMSKY's stock performance.
According to the announcement, under the cooperation agreement, IDREAMSKY will be responsible for providing game technology solutions for stc play and will become its exclusive content distributor. In the follow-up cooperation process, both parties will actively collaborate, deeply exchange and share necessary data information, and vigorously promote the orderly execution of the established plan based on mutual interests, fully ensuring the smooth implementation and success of the cooperation project.
According to relevant information, Saudi Telecom Company (STC) plays an important role in the digitalization process in the Middle East and North Africa, being a comprehensive telecommunication services giant, with operations extending to 11 countries globally, serving over 0.17 billion customers. stc play, as STC's core platform focusing on esports and gaming, offers a rich and diverse range of functions. Players can enjoy massive game resources for download and play on this platform.
IDREAMSKY's revenue in the first half of the year decreased by 24.62% year-on-year.
Although IDREAMSKY's cooperation with STC has attracted market attention, the company's performance in the first half of the year was poor, with revenue of 0.845 billion yuan, a 24.62% year-on-year decrease, and a net income of -0.11 billion yuan, compared to 0.041 billion yuan in the same period last year.
Regarding the reasons for the decline in performance, IDREAMSKY explained that it further suspended non-key games in the first half of 2023, and some games performed well in various operational metrics in 2023, resulting in a high base, so the revenue naturally decreased in the first half of this year.
Soochow recently pointed out that they are Bullish on IDREAMSKY's stable existing products, and new games are expected to release profit flexibility. At the same time, forward-looking layouts in AI + Community and AI + Game Development and Operation are expected to open up long-term growth potential, maintaining a "Buy" rating.
