{"id":464913,"date":"2021-03-25T07:08:08","date_gmt":"2021-03-25T11:08:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464913"},"modified":"2021-03-25T07:08:08","modified_gmt":"2021-03-25T11:08:08","slug":"netdragon-announces-fiscal-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/netdragon-announces-fiscal-year-2020-financial-results\/","title":{"rendered":"NetDragon Announces Fiscal Year 2020 Financial Results"},"content":{"rendered":"
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Operating Profit Rose 40% to Record High of RMB 1.1 Billion<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n HONG KONG<\/span>, March 25,\u00a02021 \/PRNewswire\/ — NetDragon Websoft Holdings Limited (“NetDragon” or the “Company”; Hong Kong Stock Code: 777), a global leader in building internet communities, today announced its financial results for fiscal year 2020. NetDragon’s management team will hold a conference call and webcast at 10:00am<\/span>Hong Kong<\/span> time on 26 March 2021<\/span> to discuss the results and recent business developments.<\/p>\n

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Mr. Dejian Liu<\/span>, Chairman of NetDragon, commented: “The year of 2020 marked the 10th consecutive year of revenue growth for NetDragon as we continue to focus on growing our business and strengthening our core competencies during the Covid-19 pandemic.”<\/p>\n

“The pandemic has brought on both unprecedented opportunities and challenges. We have seen accelerating adoption of technology in the education space, a trend which is widely believed to continue in the post-Covid-19 world. Thanks to our years of research and development effort, our one-stop blended learning solutions have enabled us to capitalize on a new market opportunity to address the holistic edtech needs of countries around the world. We believe 2020 is a year of validation of our country model, as we succeeded in commencing our first country-wide rollout in Egypt<\/span>, as well as expanding our model into a growing list of countries such as Ghana<\/span>, Thailand<\/span> and Malaysia<\/span>. Our flagship classroom technology\u00a0subsidiary<\/span> of 2020 and continued to maintain its global market leadership position, being number one in market share in eight of our top ten countries by revenue contribution[1]<\/sup>.<\/span> \u00a0“<\/p>\n

“In China, we continued to focus on broadening user coverage and driving user engagement across multiple product categories in order to prepare ourselves to scale future monetization. With monthly teachers’ active installed base of over 1.5 million in December 2020<\/span>, 101 Education PPT has become one of the most popular lesson preparation and delivery platforms in China<\/span>, providing us with a solid foundation to roll out paid value-added services, such as live broadcast service which we started to pilot in the second half of 2020. Meanwhile, One-Stop Learning platform expanded our “to G” penetration to nine provinces during the year, including the provinces of Hubei<\/span>, Henan<\/span> and Shaanxi<\/span> where we are selected as their respective Ministry of Education’s official provincial education platforms.” <\/p>\n

“We are also excited about our achievements in our gaming business in 2020, as we continued to grow our revenue by investing our efforts in development of new titles, expanding the contents in existing titles, as well as strengthening our go-to-market capabilities. During the year, we ramped up content updates for our E<\/i>udemons<\/i>\u00a0IP and launched 7 expansion packs, leading to significant increase in user activities and engagement. Our flagship game Eudemons Online<\/i> saw its MAU and DAU increased 49% and 46%, respectively year-over year, providing a solid foundation for sustained, long-term growth of the game and the overall E<\/i>udemons<\/i>\u00a0IP. We are also pleased with the progress we have made in developing a brand new next generation 3D Eudemons<\/i> game, which will take our gamers’ experience to a whole new level.\u00a0Last but not least, as the economy continued to recover from the pandemic, we saw an 8.4% increase in our gaming revenue in the second half compared to the first half, and we expect this momentum to continue into 2021 as we maintain our strategy to maximize IP value with a series of new games to be launched in the new year.”<\/p>\n

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\n [1] Based on report issued by Futuresource Consulting dated 15th February 2021, incorporating actual shipment volumes (excluding China) of the Company<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

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\n Fiscal Year 2020 Financial Highlights<\/u>
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