Chinese online game company Giant Interactive Group recently published its financial report for the entire year of 2019 and the first quarter of 2020.
During the year of 2019, Giant's operating revenue reached about CNY2.571 billion and its net profit attributable to shareholders was CNY820 million. In the first quarter of 2020, its operating revenue was CNY692 million and its net profit after deducting non-recurring gains and losses was about CNY299 million, a year-on-year increase of 22.6%.
In 2019, Giant continued to increase research and development investment and its R&D and management expense both increased due to organizational structure optimization. Meanwhile, its new products came online late and were still in the investment phase; therefore, the company's revenue and profit were not able to grow simultaneously with the R&D investment.
In addition, Giant Interactive Group announced to appoint Wu Meng as co-CEO, fully leading the gaming business.
The company predicted that its series of strong strategy and organizational changes would continue to bring positive effects to its business in the next few years.