BEIJING, Nov. 29, 2023 /PRNewswire/ — Zhihu Inc. ("Zhihu" or the "Company") (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended September 30, 2023.

Third Quarter 2023 Highlights

Total revenues were RMB1,022.2 million (US$140.1 million) in the third quarter of 2023, representing a 12.1% increase from the same period of 2022. Net loss was RMB278.4 million (US$38.2 million) in the third quarter of 2023, narrowed by 6.5% from the same period of 2022. Adjusted net loss (non-GAAP)[1] was RMB225.3 million (US$30.9 million) in the third quarter of 2023, narrowed by 10.1% from the same period of 2022. Average monthly active users (MAUs)[2] reached 110.5 million in the third quarter of 2023.  Average monthly subscribing members[3] reached 14.8 million in the third quarter of 2023, representing a 35.9% increase from the same period of 2022.

"Our significant strides in commercialization and the vibrant dynamism across the Zhihu community once again drove sustainable business growth during the third quarter of 2023. Our total revenues for the quarter continued their year-over-year growth momentum, fueled by accelerated development in paid memberships and our vocational training business," said Mr. Yuan Zhou, chairman and CEO of Zhihu. "We will devote more resources to our multi-engine monetization strategy on a mid- to long-term basis. This strategy enabled us to deliver resilient revenue growth this year despite the macro uncertainties. I am committed to narrowing losses by improving strategy execution. Zhihu will continue to integrate cutting-edge AI technology into its products and business operations to enhance content quality and user experience."

Mr. Henry Sha, CFO of Zhihu, added, "We achieved another strong quarter with total revenues increasing by 12.1% year over year. Among our various revenue streams, our paid membership revenue grew by 39.2% while our vocational training business soared 85.6%, both year over year. We further enhanced our gross margin through ongoing cost efficiency refinements. Despite the challenging economic climate, we are well-positioned to execute our growth strategy and achieve our financial targets."

Third Quarter 2023 Financial Results

Total revenues were RMB1,022.2 million (US$140.1 million) in the third quarter of 2023, representing a 12.1% increase from RMB911.7 million in the same period of 2022.

Marketing services revenue[4] was RMB383.0 million (US$52.5 million), compared with RMB461.9 million in the same period of 2022.

Paid membership revenue was RMB466.8 million (US$64.0 million), representing a 39.2% increase from RMB335.4 million in the same period of 2022. The increase was primarily driven by the continued growth of our subscribing members.

Vocational training revenue was RMB144.8 million (US$19.8 million), representing an 85.6% increase from RMB78.0 million in the same period of 2022. The significant increase was primarily attributable to our further enriched online course offerings and the revenue contributions from our recently acquired businesses in the period.

Other revenues were RMB27.6 million (US$3.8 million), compared with RMB36.3 million in the same period of 2022.

Cost of revenues increased by 1.4% to RMB473.7 million (US$64.9 million) from RMB467.3 million in the same period of 2022. The increase was primarily due to the growth of content and operating costs as we continued to enhance our content attractiveness, and an increase in staff costs, partially offset by the decrease in cloud services and bandwidth costs.

Gross profit increased by 23.4% to RMB548.5 million (US$75.2 million) from RMB444.4 million in the same period of 2022. Gross margin expanded to 53.7% from 48.7% in the same period of 2022, primarily attributable to our enhanced monetization efforts and the improvement of cloud services and bandwidth utilization efficiency. 

Total operating expenses were RMB898.6 million (US$123.2 million), compared with RMB723.0 million in the same period of 2022.

Selling and marketing expenses increased to RMB534.3 million (US$73.2 million) from RMB478.3 million in the same period of 2022. The increase reflects our continued efforts in promoting our product and service offerings.

Research and development expenses increased to RMB249.7 million (US$34.2 million) from RMB160.8 million in the same period of 2022. The increase was primarily attributable to our increased spending on technology innovation.

General and administrative expenses increased to RMB114.6 million (US$15.7 million) from RMB83.9 million in the same period of 2022. The increase was primarily due to higher rental expenses and the increased share-based compensation expenses from our business acquisition.

Loss from operations increased to RMB350.1 million (US$48.0 million) from RMB278.6 million in the same period of 2022. 

Adjusted loss from operations (non-GAAP)[1] increased to RMB295.9 million (US$40.6 million) from RMB231.0 million in the same period of 2022. 

Net loss was narrowed by 6.5% to RMB278.4 million (US$38.2 million) from RMB297.6 million in the same period of 2022.

Adjusted net loss (non-GAAP)[1] was narrowed by 10.1% to RMB225.3 million (US$30.9 million) from RMB250.6 million in the same period of 2022.

Diluted net loss per American Depositary Share ("ADS") was RMB0.47 (US$0.06), compared with RMB0.49 in the same period of 2022.

Cash and cash equivalents, term deposits and short-term investments

As of September 30, 2023, the Company had cash and cash equivalents, term deposits and short-term investments of RMB5,654.2 million (US$775.0 million), compared with RMB6,261.5 million as of December 31, 2022.

Share Repurchase Program

As of September 30, 2023, 18.3 million Class A ordinary shares (including Class A ordinary shares underlying the ADSs) had been repurchased for a total price of US$42.6 million on both the New York Stock Exchange and The Stock Exchange of Hong Kong Limited under the Company’s existing US$100 million share repurchase program established in May 2022 and extended in May 2023 (the "Repurchase Program"), which is effective until June 10, 2024. The repurchases made under the Repurchase Program were covered by the general unconditional mandate to purchase the Company’s own shares approved by shareholders at the Company’s annual general meetings held on June 10, 2022 and June 30, 2023, respectively.

[1] Adjusted loss from operations and adjusted net loss are non-GAAP financial measures. For more information on the non-GAAP financial measures, please see the section of "Use of Non-GAAP Financial Measures" and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.

[2] MAUs refers to the sum of the number of mobile devices that launch our mobile apps at least once in a given month, or mobile MAUs, and the number of logged-in users who visit our PC or mobile website at least once in a given month, after eliminating duplicates.

[3] Monthly subscribing members refers to the number of our Yan Selection members in a specified month. Average monthly subscribing members for a period is calculated by dividing the sum of monthly subscribing members for each month during the specified period by the number of months in such period.

[4] Starting with the first quarter of 2023, we report revenues generated from advertising and content-commerce solutions collectively as "marketing services revenue" to better present our business and results of operation in line with our overall strategies. Revenues for the applicable comparison periods of 2022 have been retrospectively re-classified.

Conference Call

The Company’s management will host an earnings conference call at 6:00 a.m. U.S. Eastern Time on November 29, 2023 (7:00 p.m. Beijing/Hong Kong time on November 29, 2023).

All participants wishing to join the conference call must pre-register online using the link provided below. Once the pre-registration has been completed, each participant will receive a set of dial-in numbers, a passcode, and a unique registrant ID which can be used to join the conference call. Participants may pre-register at any time, including up to and after the call start time.

Participant Online Registration: https://dpregister.com/sreg/10184549/fb0dd38135

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.zhihu.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call, until December 6, 2023, by dialing the following telephone numbers:

United States (toll free):

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

4452699

About Zhihu Inc.

Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community in China where people come to find solutions, make decisions, seek inspiration, and have fun. Since the initial launch in 2010, we have grown from a Q&A community into one of the top comprehensive online content communities and the largest Q&A-inspired online content community in China. For more information, please visit https://ir.zhihu.com. 

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP financial measures, such as adjusted loss from operations and adjusted net loss, to supplement the review and assessment of its operating performance. The Company defines non-GAAP financial measures by excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisitions and the tax effects of the non-GAAP adjustments, which are non-cash expenses. The Company believes that the non-GAAP measures facilitate comparisons of operating performance from period to period and company to company by adjusting for potential impacts of items, which the Company’s management considers to be indicative of its operating performance. The Company believes that the non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as it helps the Company’s management.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of the non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. The use of the non-GAAP measures has limitations as an analytical tool, and investors should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under U.S. GAAP. For more information on the non-GAAP financial measures, please see the tables captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at a rate of RMB7.2960 to US$1.00, the exchange rate in effect as of September 29, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Zhihu Inc.
Email: [email protected] 

Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
Email: [email protected] 

In the United States:

Piacente Financial Communications
Brandi Piacente
Phone: +1-212-481-2050
Email: [email protected]

ZHIHU INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except share, ADS, per share data and per ADS data)

For the Three Months Ended

For the Nine Months Ended

September 30,
2022

June 30,

2023

September 30,

2023

September 30,
2022

September 30,

2023

RMB

RMB

RMB

US$

RMB

RMB

US$

Revenues: 

Marketing services

461,938

412,740

382,962

52,489

1,384,093

1,187,839

162,807

Paid membership

335,435

449,098

466,784

63,978

828,273

1,370,651

187,863

Vocational training

78,004

144,520

144,795

19,846

163,675

396,313

54,319

Others

36,334

37,851

27,622

3,786

114,913

105,789

14,500

Total revenues

911,711

1,044,209

1,022,163

140,099

2,490,954

3,060,592

419,489

Cost of revenues

(467,327)

(482,131)

(473,712)

(64,928)

(1,311,425)

(1,437,844)

(197,073)

Gross profit

444,384

562,078

548,451

75,171

1,179,529

1,622,748

222,416

Selling and marketing expenses

(478,279)

(540,593)

(534,328)

(73,236)

(1,517,239)

(1,520,486)

(208,400)

Research and development
     expenses

(160,760)

(236,245)

(249,662)

(34,219)

(550,867)

(668,867)

(91,676)

General and administrative
     expenses

(83,944)

(112,460)

(114,564)

(15,702)

(498,866)

(327,462)

(44,882)

Total operating expenses

(722,983)

(889,298)

(898,554)

(123,157)

(2,566,972)

(2,516,815)

(344,958)

Loss from operations

(278,599)

(327,220)

(350,103)

(47,986)

(1,387,443)

(894,067)

(122,542)

Other income/(expenses):

Investment income

23,138

11,793

11,617

1,592

64,458

29,416

4,032

Interest income

14,598

39,987

40,363

5,532

34,433

119,843

16,426

Fair value change of financial
     instruments

(79,322)

(9,016)

(7,352)

(1,008)

(172,066)

(19,950)

(2,734)

Exchange gains/(losses)

28,302

7,076

(393)

(54)

73,273

1,034

142

Others, net

(3,047)

644

27,227

3,732

(116)

34,204

4,688

Loss before income tax

(294,930)

(276,736)

(278,641)

(38,192)

(1,387,461)

(729,520)

(99,988)

Income tax (expense)/benefit

(2,655)

(2,330)

256

35

(11,428)

(6,903)

(946)

Net loss

(297,585)

(279,066)

(278,385)

(38,157)

(1,398,889)

(736,423)

(100,934)

Net income attributable to
     noncontrolling interests

(2,590)

(775)

(289)

(40)

(2,590)

(3,447)

(472)

Net loss attributable to Zhihu
     Inc.’s shareholders

(300,175)

(279,841)

(278,674)

(38,197)

(1,401,479)

(739,870)

(101,406)

Net loss per share

Basic

(0.98)

(0.92)

(0.94)

(0.13)

(4.60)

(2.45)

(0.34)

Diluted

(0.98)

(0.92)

(0.94)

(0.13)

(4.60)

(2.45)

(0.34)

Net loss per ADS (Two ADSs
     represent one Class A
     ordinary share)

Basic

(0.49)

(0.46)

(0.47)

(0.06)

(2.30)

(1.22)

(0.17)

Diluted

(0.49)

(0.46)

(0.47)

(0.06)

(2.30)

(1.22)

(0.17)

Weighted average number of
     ordinary shares outstanding

Basic

306,621,507

304,068,362

297,742,064

297,742,064

304,837,976

302,063,397

302,063,397

Diluted

306,621,507

304,068,362

297,742,064

297,742,064

304,837,976

302,063,397

302,063,397

ZHIHU INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)

(All amounts in thousands, except share, ADS, per share data and per ADS data)

For the Three Months Ended

For the Nine Months Ended

September 30,
2022

June 30,

2023

September 30,

2023

September 30,
2022

September 30,

2023

RMB

RMB

RMB

US$

RMB

RMB

US$

Share-based compensation
     expenses included in:

Cost of revenues

(411)

2,146

1,630

223

8,198

8,176

1,121

Selling and marketing
     expenses

6,647

6,384

5,741

787

19,315

20,883

2,862

Research and development
     expenses

16,608

14,941

13,758

1,886

46,672

49,904

6,840

General and administrative
     expenses

22,002

28,976

27,662

3,791

257,165

78,193

10,717

ZHIHU INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands)

As of December 31,

2022

As of September 30,

2023

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

4,525,852

3,133,073

429,423

Term deposits

948,390

1,147,648

157,298

Short-term investments

787,259

1,373,502

188,254

Trade receivables

834,251

624,251

85,561

Amounts due from related parties

24,798

12,834

1,759

Prepayments and other current assets

199,249

330,762

45,335

Total current assets

7,319,799

6,622,070

907,630

Non-current assets:

Property and equipment, net

7,290

10,865

1,489

Intangible assets, net

80,237

126,399

17,324

Goodwill

126,344

191,077

26,189

Long-term investments

–

30,000

4,112

Right-of-use assets         

100,119

44,772

6,137

Other non-current assets

22,450

23,072

3,162

Total non-current assets

336,440

426,185

58,413

Total assets

7,656,239

7,048,255

966,043

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities

Accounts payable and accrued liabilities

916,112

954,069

130,766

Salary and welfare payables

283,546

287,626

39,422

Taxes payables               

25,975

14,621

2,004

Contract liabilities

355,626

359,325

49,250

Amounts due to related parties

24,861

9,187

1,259

Short term lease liabilities             

53,190

47,784

6,549

Other current liabilities

165,531

238,980

32,755

Total current liabilities

1,824,841

1,911,592

262,005

Non-current liabilities

Long term lease liabilities

43,367

3,657

501

Deferred tax liabilities

11,630

23,642

3,240

 Other non-current liabilities

82,133

127,487

17,474

Total non-current liabilities

137,130

154,786

21,215

Total liabilities

1,961,971

2,066,378

283,220

Total Zhihu Inc.’s shareholders’ equity

5,653,696

4,894,135

670,797

Noncontrolling interests

40,572

87,742

12,026

Total shareholders’ equity

5,694,268

4,981,877

682,823

Total liabilities and shareholders’ equity

7,656,239

7,048,255

966,043

ZHIHU INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands)

For the Three Months Ended

For the Nine Months Ended

September 30,
2022

June 30,

2023

September 30,

2023

September 30,
2022

September 30,

2023

RMB

RMB

RMB

US$

RMB

RMB

US$

Loss from operations

(278,599)

(327,220)

(350,103)

(47,986)

(1,387,443)

(894,067)

(122,542)

Add:

Share-based compensation
     expenses

44,846

52,447

48,791

6,687

331,350

157,156

21,540

Amortization of intangible assets
     resulting from business
     acquisition

2,763

5,365

5,365

735

7,563

14,220

1,949

Adjusted loss from operations

(230,990)

(269,408)

(295,947)

(40,564)

(1,048,530)

(722,691)

(99,053)

Net loss

(297,585)

(279,066)

(278,385)

(38,157)

(1,398,889)

(736,423)

(100,934)

Add:

Share-based compensation
     expenses

44,846

52,447

48,791

6,687

331,350

157,156

21,540

Amortization of intangible
     assets resulting from
     business acquisition

2,763

5,365

5,365

735

7,563

14,220

1,949

Tax effects on non-GAAP
     adjustments

(600)

(1,069)

(1,069)

(146)

(1,800)

(2,738)

(375)

Adjusted net loss

(250,576)

(222,323)

(225,298)

(30,881)

(1,061,776)

(567,785)

(77,820)

Source : Zhihu Inc. Reports Unaudited Third Quarter 2023 Financial Results

>

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

CHENGDU, China, Nov. 29, 2023 /PRNewswire/ — About us: Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products. As its sub-brand, MoonFox Data is a leading expert in data insights and analysis services across all scenarios, aiming to help companies gain market insights and empower precise decision-making.

On November 16, 2023, NetEase announced its 2023 Q3 performance. The overall net revenue reached 27.3 billion yuan, increasing by 11.6% on a year-on-year basis and above 14% on a month-on-month basis. Combined with the performance of the first half of the year, NetEase’s overall operation revenue in 2023 will ultimately realize notable growth.

At the business level, the game revenue reached 21.8 billion yuan with a year-on-year growth of 16.5%, providing a core driving force for the overall growth. Youdao and innovation-related and other businesses registered slightly growing revenues of 1.5 billion and 2 billion yuan, respectively. The revenue of NetEase Cloud Music registered 2 billion yuan, declining 16.3% from the previous year. The excellent performance of games, Youdao, and innovation-related businesses outperformed expectations, and the company’s current capacity to generate revenues is quite promising.

 Ⅰ. Games: "Justice Online" took the baton to drive revenue, and "Eggy Party" entered a phase of burgeoning growth

Strong market presence of new games and positive user feedback are the key to the steady growth of NetEase’s game business revenue in the third quarter, the standout ones of which including Dunk City Dynast featuring streetball gameplay, AAA standard racing simulation game Racing Master and the most remarkable "Justice Online."

"Justice Online" MAU & MoM growth from June to October 2023

Date

MAU (in million/person)

MoM change

2023/10

10.368

-2.08 %

2023/9

10.588

-8.36 %

2023/8

11.555

0.18 %

2023/7

11.534

63.71 %

2023/6

7.046

/

Data Source: MoonFox iApp; Data Collection Period: June to October 2023. The statistical results only include app data and do not include traffic data from web pages, mini-programs, or quick apps, among others, within the WeChat ecosystem.

According to the company’s official financial data, there are currently more than 50 million registered users of "Justice Online." According to MoonFox iAPP data, after the initial bonus period for the game launch, the game’s MAU has stabilized at around 10 million, 10.368 million exactly in October 2023. Relying on the client game platform, the "Justice Online," on the backdrop of three major martial arts novels, had attracted many players before the launch of the mobile game. The open-world environment with a martial arts twist within the mobile version also garnered the attention of a large number of non-NetEase players. According to the Q3 financial report conference call, more than one-third of players of this mobile game are completely new to NetEase games. The company was successful in growing its user base thanks to the martial arts MMO experiment.

We estimate that "Justice Online" generated between 2 and 2.5 billion yuan in revenue for NetEase in Q3 when combined with the company’s overall revenue and the growth ratio of the gaming industry. The content-driven gameplay with big map/event updates and unique plot progression with intelligent NPC interaction helped attract players and enhance engagement. Still, the core of its steady growth lay in the price competitiveness of micropayment.

"Justice Online" player attributes distribution in October 2023

Attributes

Proportion

Male

49.78 %

Female

50.22 %

High-consumption
players

19.30 %

Medium-
consumption players

36.10 %

Low-consumption
players

44.60 %

Data Source: MoonFox iApp; Data Collection Period: October 2023. The statistical results only include app data and do not include traffic data from web pages, mini-programs, or quick apps, among others, within the WeChat ecosystem.

According to MoonFox iApp data, the medium- and low-consumption players of "Justice Online" mobile game account for 36.1% and 44.6%, respectively. In comparison, the ratio of the high-consumption players is only less than 20%. Different from the highly time-intensive gameplay and high-level of consumption of typical MMORPG games, "Justice Online" first launched the 6 yuan-priced fashion series, refreshing players’ recognition of game prices and revitalizing a certain group of users with the backing of official advertisements. Moreover, the game canceled the attribute benefits of fashion items to avoid the spending for attribute enhancement. Additionally, compared to other MMOs of a similar nature, the in-game gift packages and battle passes are much less expensive. The success of "Justice Online" served as a primary catalyst for NetEase’s Q3 gaming business development, first by evoking a sentimental attachment, then capturing players with novel gameplay and great cost-effectiveness, and retaining them through content.

In addition, the excellent performance of the old flagship games provided a basic guarantee for the company’s game business. MoonFox iApp data reveals that in October 2023, the MAU of Fantasy Westward Journey Online mobile game exceeded 3.86 million with a MoM increase of 5.99%. "Identity V" had a MoM increase of 6.47% within the same period, and its MAU surpassed 7.03 million. Among them, "Eggy Party" secured the most market hype.

"Eggy Party" monthly average DAU & MoM growth from February to October 2023

Date

Monthly average DAU
(in million/person)

MoM change

2023/10

1.263

-1.75 %

2023/9

1.285

-30.32 %

2023/8

1.845

12.11 %

2023/7

1.646

33.07 %

2023/6

1.237

-0.65 %

2023/5

1.245

-6.82 %

2023/4

1.336

-10.04 %

2023/3

1.485

-21.05 %

2023/2

1.881

-7.22 %

Data Source: MoonFox iApp; Data Collection Period: February to October 2023. The statistical results only include app data and do not include traffic data from web pages, mini-programs, or quick apps, among others, within the WeChat ecosystem.

After the cyclical marketing operations concluded, there was a minor decrease in overall buzz, but "Eggy Party’s" prominent DAU attribute persisted. According to MoonFox iApp data, the monthly average DAU of "Eggy Party" in October 2023 reached 9.642 million, declining from the previous month. As the winter and summer vacations are regarded as important time windows for Party Games, the company seized the idle time of players to launch marketing campaigns on platforms such as Douyin and Xiaohongshu, registering a DAU of nearly 20 million both in February and August.

The competition in the Party Game field is increasingly intensifying nowadays. We believe "Eggy Party" will face more severe challenges in the industry. On the one hand, minigame platforms are making a strong push. By integrating WeChat Channels, livestreaming, and other forms, minigames will exhibit an amplified dissemination capacity. With better livestreamin effects and community attributes that better fit WeChat platforms, more lightweight Party Games will be staged on minigame platforms to split the top-tier traffic. On the other hand, the industry leaders are also stepping up efforts in this category. For example, Tencent’s Party Game "DreamStar" (Yuan Meng Zhi Xing), officially authorized by Fall Guys, has initiated the open β test 2 and received positive responses in the market. To sustain its DAU level and increase its popularity, "Eggy Party" will need to hold onto its core player base and extend into minigame platforms in the future.

II. Music: Retain Listeners by Combining Copyright and Community Methods, With a Focus on Online Music Services

NetEase Cloud Music revenue and share trend from Q1 2022 to Q3 2023

Revenue (in billion yuan)

Share of NetEase’s overall
revenue (%)

2022Q1

2.067

8.78 %

2022Q2

2.192

9.46 %

2022Q3

2.357

9.65 %

2022Q4

2.376

9.37 %

2023Q1

1.960

7.82 %

2023Q2

1.949

8.12 %

2023Q3

1.973

7.24 %

Data Source: MoonFox iApp; Data Collection Period: Q1 2022 to Q3 2023. The statistical results only include app data and do not include traffic data from web pages, mini-programs, or quick apps, among others, within the WeChat ecosystem.

Data from the financial report indicates that NetEase Cloud Music’s total revenue in Q3 2023 was 1.973 billion yuan, which is a decrease from the same period the previous year. Generally, the revenue level of this business in 2023 is significantly lower than that in 2022, mainly owing to the overall tightened supervision of social entertainment services in the music industry and the active business contraction of the leading companies.

Audio livestreaming is the core business in social entertainment services. However, due to the relatively low threshold of livestreaming and difficulties in regulating live content, a large number of medium- and small-scale audio livestreaming platforms have emerged. Furthermore, there is an influx of soft pornography, violence, gambling, and other unhealthy content that have bypassed restrictions. In view of this, the regulatory authorities have introduced corresponding regulations, and more than 30 platforms have been closed for rectification since the beginning of 2023.

The 2023 H1 financial data of NetEase Cloud Music shows that its music and social entertainment service users reached 1.525 million, increasing by 23.4%. Still, the monthly revenue per paid user was 199.3 yuan, down 39.6% from the previous year. On the one hand, the company actively regulated the livestreaming rooms disseminating bad content inside the platform, built corresponding control systems, and reduced the revenue-sharing ratios of some streamers and associations. On the other hand, both NetEase and Tencent hope to direct more resources to online music services to meet the music, social, and fandom-related needs of listeners, so NetEase Cloud has begun to limit the exposure of some livestreaming functions within the sites to optimize the experience of online music service users.

The online music service is the main thrust of NetEase Cloud Music’s current efforts, which gained 41,751,000 users per month in the first half of 2023, with an increase of 11%. As of Q3, the MAU of the platform’s online music service remained steady at around 200 million. At present, increasing user recognition of the platform tone and music content while promoting content ecology and product innovation are at the core of NetEase Cloud Music’s development.

NetEase Cloud Music vs. industry average user usage time from January to October 2023 (in billion hours)

NetEase Cloud Music user
usage time

MoM increase (%)

Industry average user usage
time

2023/10

1.079

7.27 %

0.435

2023/9

1.006

-17.98 %

0.406

2023/8

1.226

3.09 %

0.411

2023/7

1.190

5.09 %

0.403

2023/6

1.132

7.96 %

0.376

2023/5

1.049

2.31 %

0.396

2023/4

1.025

-7.08 %

0.385

2023/3

1.103

3.67 %

0.386

2023/2

1.064

-18.61 %

0.345

2023/1

1.307

10.86 %

0.400

Data Source: MoonFox iApp; Data Collection Period: January to October 2023. The statistical results only include app data and do not include traffic data from web pages, mini-programs, or quick apps, among others, within the WeChat ecosystem.

According to MoonFox iApp data, NetEase Cloud Music users’ monthly usage time remained stable at 100 million hours in 2023, increasing to 108 million hours in October by 7.3% year-on-year, which was significantly higher than the industry average of 30-40 million hours. To get users’ attention, NetEase Cloud Music first emphasized on copyright content and then collaborated with Li Yuchun, The Big Band, and other famous musicians and platforms in Q3 2023. Second, private DJ functions were added to increase individualized music qualities further and establish tailored private roaming music spaces for users. Finally, niche music audiences are still significant in maintaining the platform tone of NetEase Cloud Music and shaping the community culture. For example, the company has launched "Project Cloud Ladder," "Project Stone," and other initiatives to support original musicians and build a niche community culture.

Above all, we believe NetEase Cloud Music should put more effort into community shaping and improving user stickiness through song reviews and social sharing. Meanwhile, it should also further integrate the music player and scenes into the games based on Eggy Party’s successful cases (e.g., custom music skins and membership gifting).

III. Education: Learning Service Revenues Increased, With Large Models Leading Future Growth

In Q3 2023, Youdao’s revenues reached a record-high 1.54 billion yuan. Among them, the net revenue of learning services reached 950 million yuan, with an increase of 7% year-on-year, contributing significantly to the primary revenue streams. The intelligent hardware revenue was 250 million, down 29.3% year-on-year. Moreover, the revenue from online marketing services reached 340 million yuan, up 113.5% year-on-year. Particularly, the gross profit margins of the three core business lines all increased compared with the previous year, and that of the learning services increased to 67.8% by 3.3% year-on-year.

NetEase Youdao Dictionary’s user usage time in October 2023

Metric

Time distribution

Monthly total
usage time

56,164,100 hours

0~30s

30.34 %

30~60s

15.93 %

1~3min

20.38 %

3~10min

18.13 %

10~30min

10.15 %

> 30 min

5.07 %

Data Source: MoonFox iApp; Data Collection Period: October 2023. The statistical results only include mini-program data and do not include traffic data from web pages, apps, or quick apps, among others within the WeChat ecosystem. Taking the time period of 0s < X≤30s as an example, it refers to the duration of a user’s single app session that falls within this range.

For the learning services, NetEase Youdao Dictionary has ranked the first tier in the dictionary translation category as users have started to develop habits in using this tool. According to MoonFox iApp data, the ratio of users who utilized the NetEase Youdao Dictionary for over 10 minutes per session exceeded 15.3% in October 2023. In addition, the monthly product usage time in the same period reached 56.164 million hours, far exceeding the industry average.

Currently, the dictionary functions are more like a language learning community than a simple lookup and translation software. First, rich functions on the homepage incorporate a vocabulary book, camera, dialogue translation, and physical pen pairing to cover translation demands in all contexts. Second, the recommendation module on the homepage relies on the UGC mode and provides users with pictures and video content depending on English learning scenarios. This allows users to gain experience similar to short video platforms by clicking the video function. Last, the systematic learning content provides a guarantee for the subscription business model. The platform provides a dictionary and super member subscription services to satisfy the systematic learning and professional translation needs of the users. Meanwhile, foreign journals and paid books can also meet the reading demands of paid English lovers.

In addition to online paid services, Youdao introduced Zi Yue, a large module, Hi Echo, a virtual oral English private teacher, X6 Pro hardware translation products, etc. We believe that the layout in the technology field will be the key to significantly increasing industry influence and driving up revenues for Youdao in the future.

IV. Conclusion: AI Technologies Will Empower All Businesses Amid the Monetization of Games

Overall, NetEase’s entire business exhibited a performance slightly exceeding industry anticipations and a stable growth tendency. We believe games will remain the company’s main development pillar for a very long time, and the multi-game-approval reserve and continuous self-development will ensure the expansion of the game business. Furthermore, the empowerment of AI technologies will gradually extend from games to miscellaneous industrial fields, propelling the company’s business growth and innovation.

Among NetEase’s game reserve, Project Mugen, a hybrid genre game that combines the open-world RPG category, has gone through numerous rounds of testing. Moreover, there are games waiting for approvals, such as Naraka: "Bladepoin," as well as those with approvals, such as "Legends of the Condor Heroes," "Mission Zero," "Where Winds Meet," etc. The moderately and highly time-intensive games reserved by NetEase are expected to have a centralized launche in the first half of 2024. "Eggy Party" and "Racing Master" will be launched rapidly in major overseas game markets. We expect the company’s overseas revenue will account for an even larger part of its total revenues.

When it comes to AI technologies, the application of AI in "Justice Online" impressed the players with the fun of intelligent NPCS and customized voices. The non-linear story plot allows all types of players to experience different stories with unique characteristics. The AIGC one-click map-switching function in "Eggy Party" also inspired more than 10 million content creators out of players. We believe that NetEase will increase investment in AI talent training in the future, and large models will impact the whole pipeline of game production at a faster pace. Meanwhile, the development of AI technologies will empower NetEase’s all businesses lines on a larger scale and facilitate the development of other non-game industries by combining with emerging technologies such as digital twin. For instance, NetEase Fuxi has begun exploration in industry and other fields. Moreover, AI will further expand the product lines and lead the company’s business growth.

Our Information:

Website: https://www.moonfox.cn/
Contact number: 400-888-0936

Contact us:

Name: Felix
Title: Director of Sales, Industry Insight Division
Tel: +86 -13366276383
Email:[email protected]
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Name: Silvia
Title: Senior Marketing Manager
Tel: +86-13691629681
Email: [email protected]
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Source : MoonFox Data's Insights on NetEase Q3 Financial Report: Game-driven Multi-segment Growth

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Academic research concludes that raising the standard temperature of most frozen food by 3 degrees could cut carbon emissions by the equivalent of taking 3.8m cars off the road. This emissions saving would be equal to the entire population of New York, New Hampshire and Vermont not driving for a year. Potential energy savings identified of approximately 25 terawatt-hours per year – equivalent to 8.63% of the UK’s annual energy consumption. The move would bring energy savings of between 5% and 12%. Scientists conclude that the increase can be made without compromising food safety or quality. The international temperature standard was established in the 1930s and has not been overhauled in almost a century – so global logistics firm DP World launching industry coalition to reconsider it. 

DUBAI, UAE, Nov. 29, 2023 /PRNewswire/ — Frozen food temperatures could be changed by just three degrees to save the carbon dioxide emissions of 3.8 million cars per year, research suggests. 

Most frozen food is transported and stored at -18°C, a standard that was set 93 years ago and has not changed since.  

A move to -15°C could make a significant environmental impact with no compromise on food safety or quality, the study found.  

The experts, from the Paris-based International Institute of Refrigeration, the University of Birmingham and London South Bank University, among others, found that the small change could:  

Save 17.7 million metric tonnes of carbon dioxide per year, the equivalent annual emissions of 3.8m cars annually Create energy savings of around 25 terawatt-hours (TW/h) – equivalent to 8.63% of the UK’s annual energy consumption Cut costs in the supply chain by at least 5% and in some areas by up to 12%  

The research was supported by the leading global logistics firm and principal partner in COP28, DP World, which has set up an industry-wide coalition to explore the feasibility of this change, named Join the Move to -15°C. 

This coalition aims to redefine frozen food temperature standards to cut greenhouse gases, lower supply chain costs and secure food resources for the world’s growing population.  

The coalition has already been joined by leading industry organizations including: U.S. based AJC Group, A.P. Moller – Maersk (Maersk) of Denmark; Daikin of Japan; DP World; the Global Cold Chain Alliance; Switzerland’s Kuehne + Nagel International; U.S. based Lineage; Mediterranean Shipping Company (MSC) of Geneva; and Singapore-based Ocean Network Express (ONE). 

Maha AlQattan, Group Chief Sustainability Officer at DP World, said: "Frozen food standards have not been updated in almost a century. They are long overdue for revision. 

"A small temperature increase could have huge benefits but – however committed each individual organisation is – the industry can only change what’s possible by working together. 

"With this research and with our newly formed coalition, we aim to support collaboration across the industry to find viable ways to achieve the sector’s shared net zero ambition by 2050.  

"The Move to -15°C will bring the industry together to explore new, greener standards to help decarbonise the sector on a global scale. Through this research, we can see how we can deploy accessible storage technologies in all markets to freeze food at sustainable temperatures, while reducing food scarcity for vulnerable and developed communities."  

Building resilience and ensuring future food security 

Annually hundreds of millions of tonnes of food from blueberries to broccoli is transported around the world. 

While freezing food extends shelf life, it comes with a significant environmental cost – as 2-3% more energy is required for every degree below zero that food is stored at. 

The logistics industry is working to decarbonise and facing rising energy bills.  

Yet demand for frozen food is increasing as appetites evolve in developing countries and price-conscious consumers seek nutritious, tasty food at more affordable prices. 

At the same time, experts estimate that 12% of food produced annually is wasted due to a lack of refrigerated and frozen logistics, called the ‘cold chain’ in the industry, highlighting a significant need for greater capacity. 

Studies also suggest that 1.3 billion tonnes of edible food is thrown away every year – a third of global food production for human consumption.  

The need is particularly acute in areas like Sub-Saharan Africa and the Subcontinent. In Pakistan in 2022, for example, half of exportable mangoes were lost due to an extreme heatwave. 

According to the Food and Agriculture Organisation, more than 820 million people are hungry today and 2 billion – roughly a quarter of the world’s population – suffer from food insecurity.  

Professor Toby Peters, University of Birmingham and Heriot-Watt University and director of the Centre for Sustainable Cooling said: "Cold chains are critical infrastructure, vital for a well-functioning society and economy. They underpin our access to safe and nutritious food and health, as well as our ability to spur economic growth."

He added: "Cold chain infrastructure, and the lack of it, have implications for global climate change and the environment." 

Climate change-driven events such as droughts, floods, and heatwaves can reduce crop yields and harm livestock health and productivity. But freezing food can protect food sources and their nutritional value for months amid such crises.  

Join the Move to -15°C is an initiative to create a just transition, deploying accessible storage technologies globally to freeze food at sustainable temperatures to reduce food scarcity for vulnerable and developed communities alike. 

Prof Peters added: "The UN predicts a population of 9.7 billion by 2050. To ensure food accessibility, we must close the 56% gap in the global food supply between what was produced in 2010 and what will be needed in 2050.  

"Cutting cold chain emissions and transforming how food is safely stored and moved today helps ensure we can keep sustainably feeding communities across the globe as populations and global temperatures rise, protecting nutritious food sources for years to come.

"Building on this research, DP World’s coalition can be a key tool for overcoming today’s food challenges too, providing a stable inventory of quality food for the 820 million starving people worldwide and security for another 2 billion who are struggling with food scarcity." 

An open invitation to ‘Join the Move to -15°C’ initiative 

DP World has made the research accessible to all and invited stakeholders, industry leaders and interested parties to show support for the campaign.  

To find out more or join the initiative, please visit DP World’s website here.

About DP World

Trade is the lifeblood of the global economy, creating opportunities and improving the quality of life for people around the world. DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities we serve globally. 

With a dedicated, diverse and professional team of more than 103,000 employees spanning 75 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that’s fit for the future.  In Asia Pacific, DP World employs more than 7,000 people, and has ports and terminals in 17 locations.

We’re rapidly transforming and integrating our businesses — Ports and Terminals, Marine Services, Logistics and Technology – and uniting our global infrastructure with local expertise to create stronger, more efficient end-to-end supply chain solutions that can change the way the world trades.

What’s more, we’re reshaping the future by investing in innovation. From intelligent delivery systems to automated warehouse stacking, we’re at the cutting edge of disruptive technology, pushing the sector towards better ways to trade, minimising disruptions from the factory floor to the customer’s door.

WE MAKE TRADE FLOW
TO CHANGE WHAT’S POSSIBLE FOR EVERYONE.

Source : DP WORLD: RAISING TEMPERATURE OF FROZEN FOODS BY JUST THREE DEGREES FROM -18°C TO -15°C CAN SLASH CARBON EMISSIONS, STUDY SHOWS

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XUZHOU, China, Nov. 29, 2023 /PRNewswire/ — Electricity plays a crucial role in promoting economic development. In recent years, the State Grid Xuzhou Power Supply Company has been committed to accelerating the construction of power infrastructure, which has effectively reduced energy costs for enterprises, facilitated the transformation to cleaner energy sources, and boosted the high-quality development of the local economy.

On the construction site of a 110 kV Fengbang-Zhenfeng line in Xuzhou, Jiangsu, power supply personnel are performing line tightening operations. This line serves as the primary power supply for the Zhenfeng Substation, with a total length of 10.2 kilometers. Upon completion, it will improve the power supply capacity and quality of the development zone, meeting the increased power demands of high-tech enterprises such as those engaged in intelligent manufacturing.

Jiangsu Hangreat Machine Tool Co., Ltd. is an intelligent CNC machine tool manufacturer situated in the local development zone. It has introduced a large advanced manufacturing center covering an area of more than 100 square meters, allowing it to process high-precision large-scale equipment. Due to the surge in orders, the enterprise’s power demand has been on the rise.

In order to meet these capacity expansion needs, State Grid Xuzhou Power Supply Company has established a "green channel" for industry expansion and installations, formulating differentiated power consumption plans based on the production load and specifications of each enterprise, to ensure continuous production.

In order to further reduce energy costs for enterprises and promote their energy transformation, State Grid Xuzhou Power Supply Company is also actively supporting the construction of distributed photovoltaics on factory roofs, and provides regular assistance in conducting inspections of photovoltaic equipment. At Jiangsu Jujie Electromechanical Co., Ltd., solar photovoltaic panels with a capacity of 1.9 megawatts were installed on the 19,000-square-meter rooftop, involving a total investment of 8.1 million yuan. Once connected to the grid, it is expected to generate 2.35 million kWh of electricity annually, saving around 580,000 yuan in electricity bills.

Source : Xuzhou, Jiangsu: Supporting Local Economic Development via High-Quality Power Supplies

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XIAMEN, China, Nov. 29, 2023 /PRNewswire/ — Yeastar, the world’s leading provider of Unified Communications, today announced its Disaster Recovery solution for the P-Series Phone System Software Edition, empowering enterprises with cross-region redundancy for uninterrupted communications even in the face of unforeseen disasters.

Yeastar’s Disaster Recovery solution, employing an active/standby approach complemented by a secure built-in SD-WAN service, enables the deployment of a standby replica of the PBX system in a different location or remote network. This architecture supports real-time data replication, automatic failure detection, and seamless failover capabilities. Calls and data are quickly transferred from the primary site to the secondary site when the working server is unavailable.

Particularly useful in the event of natural disasters and large-scale disruptions, the Disaster Recovery solution can work alongside another high availability feature, hot standby, which addresses server failure and hardware crashes. Enterprises can deploy both local hot standby and cross-region disaster recovery for a comprehensive and resilient business continuity plan.

"With the new Disaster Recovery solution, businesses can now enjoy peace of mind knowing that their communications infrastructure is always up and running, no matter the circumstances," said Prince Cai, Vice President of Yeastar. "It further strengthens our ability to cater to the diverse needs of enterprises around the world."

For enterprises demanding advanced reliability, security, and compatibility with existing infrastructures, the P-Series Software Edition can accommodate up to 10,000 users across multiple locations, with voice, video, team chat, and more in one platform, as well as an advanced call center solution and omnichannel messaging for elevated customer experience. Besides the high availability solution, it also incorporates multi-layer security measures, from authentication and access control to data encryption and network defense.

Learn more about Yeastar’s high availability solution here.

About Yeastar

Yeastar helps businesses realize digital values by making communications and workplace solutions easily accessible from ownership and adoption to daily usage and management. Yeastar has established itself as a leading provider of UC solutions with a global partner network and over 450,000 customers worldwide. Committed to delivering the right technology to value-oriented businesses, Yeastar offers products and services for UC&C, workplace scheduling, and hybrid workplaces to enable them to win in the modern digital world. For more information about Yeastar or to become a Yeastar partner, please visit https://www.yeastar.com/.

Contact:

Aviva Li
+86-592-5503309
marketing@yeastar.com

Source : Yeastar Introduces Cross-region Disaster Recovery Solution for Enterprises Looking for a Higher Level of Business Communications Availability

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

TAIPEI, Nov. 29, 2023 /PRNewswire/ — Ubiquity Sprouting Corporation (USC) pioneers Sustainable Peanut Sprout Cultivation with a Groundbreaking Facility in Taiwan.

USC proudly announces the opening of a groundbreaking facility in Taiwan focused on producing peanut sprouts, with an impressive daily output of 1,000 kilograms. USC aims to lead the industry by becoming the first to cultivate peanut sprouts on a large scale using organic methods without any chemical agents.

This innovative facility operates with minimal energy, using only water for cultivation. Remarkably, peanut sprouts grow 3.5 times their weight in just five days. USC has developed this cost-effective technology to expand production rapidly, overcoming challenges often seen in traditional methods, such as bacterial and fungal issues. Professor Chiu, known as Taiwan’s ‘King of Peanuts,’ confirms that peanuts affected by these contaminants struggle to sprout.

USC inventor Chang remarks, "Peanut sprouts are a rarity in the market, and cultivating them is fraught with challenges and high failure rates, leading to their scarcity."

Peanut sprouts are a veritable boon for health, boasting an abundance of resveratrol – a compound with concentrations 100 times greater than in peanuts, and with significantly lower fat content. Peer-reviewed studies have attributed a multitude of health benefits to Resveratrol, ranging from anti-aging to cardioprotection and beyond, underscoring its substantial life-extending potential.

USC has ingeniously crafted four distinct models for cultivating various vegetables and fruits, including bean sprouts (MS001), peanut sprouts (PS101), leafy vegetables (LV201), and vine vegetables and fruits (VV301). Previously, USC has successfully marketed mung bean sprout facilities in Taiwan and Mainland China, with a daily production capacity of 37,500 kilograms across 25 growing lines. It is now sold at several chain stores, including Carrefour Taiwan. USC is committed to introducing freshly germinated sprouts to the Taiwanese market – a nutritious and tantalizing culinary delight. These first-day sprouts of mung beans, black beans, and soybeans, which are currently rare in the market. These first-day sprouts are not only fresh and nutritionally rich but also free from any use of chemical additives.

In addition to independently or in collaboration with partners cultivating vegetables and fruits, we will also process these foods into various products such as snacks, cookies, desserts, savory pies, pickles, and more.

Michael Lai, USC founder, said "basically we will mainly develop our own vegetable business across the world. But we are also looking for partners who would like to have a joint venture, license or even buy our facility. By implementing our Ubisprouting technology, we all together can do a better environmental and friendly cultivation to produce more various food for our wonderful planet citizen."

Ubiquity Sprouting Corporation announces installing peanut sprout daily 1,000 kg output growing facility.

For more detailed information on Ubiquity Sprouting Corporation and our innovative agricultural solutions, please visit our website at www.ubisprout.com. 

[Keywords: Peanut Sprout, Sprout, Indoor Farming, Agriculture, Organic Food, Resveratrol, Vegetable]

Source : Ubiquity Sprouting Corporation announces installing peanut sprout daily 1,000 kg output growing facility.

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Premiere in South America: The largest gaming event in the world will be stopping off in São Paulo from 26 to 30 June 2024 Koelnmesse on course for international growth: After Cologne and Singapore, Brazil is now the third venue for the successful format

COLOGNE, Germany and SAO PAULO, Nov. 29, 2023 /PRNewswire/ — In addition to the successful concept in Cologne and gamescom asia in Singapore, there will be another international Gamescom taking place for the first time at the São Paulo Expo trade fair centre from 26 to 30 June 2024.

– Picture is available at AP –

"We are continuously expanding our international business," says Gerald Böse, CEO of Koelnmesse. "It is particularly important to us to provide our customers with the best possible comprehensive and global support. Following gamescom asia in Singapore, this is the next important step in the globalisation of the brand as well as the event format. In short: gamescom goes global."

Koelnmesse has been active in the trade fair business in Brazil for over ten years. "With our events abroad, we are accompanying our customers to the most important growth markets worldwide," says Böse. "Organising a foreign trade fair for one of the leading trade fair themes in Cologne is by no means a rivalry, but rather supplements and safeguards our portfolio worldwide."

The share of international business in Koelnmesse’s turnover is in the double-digit range and has been growing steadily for years. Not only established foreign events contribute to this, but also numerous international premieres, such as the International Hardware Fair India, didacta asia, ORGATEC TOKYO and ISM Japan.

"We are convinced that, now more than ever, the games industry needs events that bring the entire ecosystem together. Gamescom can be instrumental in this regard with the appeal of its international brand. We are therefore delighted to be organising gamescom latam together with our partners next year and to be able to bring the unique festival feeling of the world’s biggest games event to South America," says Felix Falk, Managing Director of game – The German Games Industry Association.

Images: Highlights | Koelnmesse

Dr. Jasmin Fischer
Vice President Corporate Communications Koelnmesse
mailto:[email protected]
+ 49 221 821-2494

Source : Koelnmesse further expands its successful international business and brings gamescom 2024 to Brazil

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