Zengame Technology Holding Limited posted interim revenue of RMB804.47 million for the six months ended 30 June 2026, a 13.4% year-on-year increase, driven by higher paying-user numbers and a lift in ARPPU to RMB276 from RMB253.

Gross profit grew 16.9% to RMB425.74 million, pushing the gross margin up 1.6 percentage points to 52.9%. The improved margin was offset by a 64.9% jump in selling and distribution expenses—mainly advertising and promotion—which reached RMB120.38 million. Administrative costs edged down 5.4% to RMB48.79 million, and R&D expenses fell 14.4% to RMB56.77 million.

Net profit declined 7.8% to RMB168.60 million, compressing the net margin to 21.0% from 25.8%. Excluding share-based compensation, adjusted net profit decreased 14.5% to RMB175.22 million.

Operating metrics softened: monthly active users fell to 18.33 million (-12%), and daily active users dropped to 3.40 million (-11%). Monthly paying users were broadly flat at 0.46 million.

Board and card games remained the core revenue contributor, generating RMB681.95 million—or 84.8% of total—up 12.5%. Casual and other games delivered RMB122.52 million, rising 19.2%.

The balance sheet stayed liquid, with cash, cash equivalents and time deposits totalling RMB1.54 billion. Current assets stood at RMB2.65 billion against current liabilities of RMB168.01 million, giving a current ratio of 15.8. The Group held RMB946.56 million in marketable securities and no interest-bearing debt.

Capital expenditure was minimal at RMB1.00 million, and there were no material contingent liabilities or asset pledges.

No interim dividend was declared; a HK$0.20 final dividend for FY 2025 was paid on 25 June 2026.

Management will continue play-iteration for flagship titles, widen overseas penetration of fishing and casino games, and deepen use of AI across development, operations and user management in 2H 2026.