Super Snail maker Qingci Games H1 revenue declines on product transition

Qingci Games

27/08/2026 11:04

Overview
China mobile game developer's H1 revenue fell 31% yr/yr as active users declined
Net profit attributable to equity holders surged 349% yr/yr, driven by investment gains
Company cites product cycle transitions and increased competition for revenue decline

Outlook
Qingci Games says the Marvelous Snail/SuperSnail South Korean version is expected to launch in 2026
Qingci Games expects to use HK$10.3 mln in unutilized listing proceeds for publication and operations by December 2027
Lost Light global version is expected to launch in 2026 following localization adaptation and launch preparations

Result Drivers
PRODUCT CYCLE TRANSITION - Revenue decline attributed to certain games entering maturity stages, leading to lower active and paying users
INCREASED COMPETITION - Company cited intensified competition in the domestic market, raising user acquisition costs and pressuring revenue
INVESTMENT GAINS - Surge in net profit mainly due to significant increase in fair value gains of short-term investments

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 169.70 mln
 
H1 Net Income Attributable
 
RMB 315.30 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the software peer group is "buy"

Reuters Recommended Reads
Aug 26 - China's Zengame H1 revenue rises 13% on higher player monetisation
Aug 26 - China's Changyou Alliance H1 revenue declines as partners curb point usage
Aug 26 - Swedish gaming firm Fragbite's Q2 hit by project delays, user acquisition costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)