Investor Presentaiton
Positioned for broader revenue upturn when macro
environment improves
Regulations progressing from rectification to normalisation
Recent regulatory direction trending more positive for platform economy: 1) to promote well-regulated, healthy and sustainable
development; 2) to complete rectification; and 3) to carry out regular supervision
Issuance of new Banhao should help overall game industry renew growth
We expect to receive Banhao in the future, benefitting our domestic game business
Geared to China's economic upturn
Approximately half of our revenues
closely contribute to, and benefit from,
China's economic activity
•
payment
volume
Commercial
recovered to high-teens YoY growth in
June
Commercial TPV YoY%
Ad revenue decline rate stabilised in
2Q22, before launch of Video
Accounts in-feed ads and under
current macro
Ad revenue YoY%
LTM
Revenue
FBS & Ad
46%
Dec-21
Jan-Feb-22
Mar-22
Apr-22
May-22
Jun-22
23%
23%
5%
-13%
-18% -18%
1Q21 2Q21 3Q21 4Q21 1Q22 2Q22
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