REG - Winking Studios Ltd - 1H2025 Trading Update

Winking StudiosAnnouncement

Wed 07:00

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RNS Number : 0623T  Winking Studios Limited  30 July 2025

WINKING STUDIOS LIMITED

(Company Registration No. 159882)

(Incorporated in the Cayman Islands)

 

 

1H2025 Trading Update

 

Winking Studios Limited (AIM / SGX: WKS) ("Winking Studios" or the "Company"
and together with its subsidiaries, the "Group"), one of Asia's largest AAA
game art outsourcing studios and an established game development company,
announces a trading update for the six-month period ended 30 June 2025
("1H2025"), ahead of the release of its 1H2025 results.

 

Based on a preliminary review of the Group's unaudited financial statements
for 1H2025, Winking Studios expects to report a revenue increase of at least
20% as compared to the six-month period ended 30 June 2024 ("1H2024") of
US$15.2 million. Coupled with continued healthy demand for the Group's
services, the improved revenue performance, which is in line with market
expectations, is mainly driven by the contribution from Shanghai Mineloader
Digital Technology Co., Ltd. ("Mineloader"), acquired in early April 2025.

 

The Group's adjusted earnings before interest, taxation, depreciation and
amortisation ("Adjusted EBITDA") in 1H2025 1  is expected to be higher by a
range of between 10% to 20% than 1H2024 2  of US$2.1 million. It is to be
noted that the Company incurred ongoing listing expenses of US$0.3 million
related to its AIM listing on London Stock Exchange ("LSE") in 1H2025, while
there was no such expense in 1H2024.

 

Aligned with its business strategy to pursue strategic acquisitions, Winking
Studios aims to deepen its market presence and strengthen its investments
across Southeast Asia and globally by expanding its footprint into high-growth
markets and forming strategic partnerships with local and regional
stakeholders.

 

Further details of the Group's financial performance will be set out in the
Company's unaudited financial statements for 1H2025 which are expected to be
announced on 13 August 2025.

 

 

 

BY ORDER OF THE BOARD

 

MR. JOHNNY JAN

Executive Director and Chief Executive Officer (Founder)

 

30 July 2025

 

 

Enquiries

 Singapore                                    UK
 Winking Studios Limited                      Alma Strategic Communications

 Johnny Jan, Executive Director and CEO       Justine James / David Ison / Emma Thompson

 Oliver Yen, Finance Director and Group CFO   +44 (0)20 3405 0205

                                              WKS@almastrategic.com (mailto:WKS@almastrategic.com)

 8PR Asia (Investor Relations)                Strand Hanson Limited

 Alex Tan                                     (Financial and Nominated Adviser)

 +65 9451 5252                                James Harris / James Bellman

 alex.tan@8prasia.com                          +44 (0)20 7409 3494

 PrimePartners Corporate Finance Pte. Ltd.    SP Angel Corporate Finance LLP (Joint Broker)

 (Sponsor)                                    Stuart Gledhill / Charlie Bouverat (Corporate Finance)

 Foo Jien Jieng                               Abigail Wayne / Rob Rees (Corporate Broking)

 sponsorship@ppcf.com.sg                      +44 (0)20 3470 0470

                                              Zeus Capital Limited (Joint Broker)

                                              James Hornigold / Gabriella Zwarts (Investment Banking)

                                              Ben Robertson (Equity Capital Markets)

 

 

About Winking Studios Limited (AIM and SGX: WKS)

 

Headquartered in Singapore and dual-listed on the London Stock Exchange and
Singapore Exchange (Trading Code: WKS), Winking Studios Limited is one of
Asia's largest AAA game art outsourcing studios and an established game
development company.

 

With over 25 years of experience and established track record, the Group
provides end-to-end art outsourcing, game development services and other
gaming services across various platforms for the global gaming industry via
three business segments of Art Outsourcing, Game Development and Global
Publishing & Other Services.

 

The Group has 12 studios across Taipei, Nanjing, Suzhou, Dalian, Tianjin,
Shanghai and Kuala Lumpur with over 1,300 highly skilled employees serving a
global customer base that includes 22 of the top 25 game publishers in the
world.

 

For more information, please visit Winking Studios Limited - IR Home
(https://investor.winkingworks.com/)

 

 

Winking Studios Limited (the "Company") was listed on Catalist of the
Singapore Exchange Securities Trading Limited (the "SGX-ST") on 20 November
2023. The initial public offering of the Company was sponsored by
PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). This announcement
has been reviewed by the Sponsor. It has not been examined or approved by the
SGX-ST and the SGX-ST assumes no responsibility for the contents of this
announcement, including the correctness of any of the statements or opinions
made or reports contained in this announcement. The contact person for the
Sponsor is Ms. Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre,
Singapore 049318, sponsorship@ppcf.com.sg.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

 1  Adjusted EBITDA in 1H2025 comprises EBITDA, with adjustments that included
the Group's Share-based compensation expenses, Foreign exchange gains/losses
and Costs of acquisition and integration.

 

 2  Adjusted EBITDA in 1H2024 comprises EBITDA, with adjustments that included
the related Dual Listing expenses on LSE, Share-based payments expenses,
Foreign exchange gains/losses, Costs of acquisition and integration, Interest
Income and Private Placement Related Expenses (to raise S$27 million).

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