ARCHOSAUR GAMES' new game "Riding the Wind" tests hot, boosting growth expectations. The company has repurchased shares for three consecutive days

Recently, ARCHOSAUR GAMES (09990) released its mid-year performance announcement for 2024, achieving revenue of 439 million yuan, a year-on-year increase of 9.2%, with significantly narrowed adjusted losses. The steadily improving performance year-on-year has reflected in the continuous rise in stock price. After the performance announcement, ARCHOSAUR GAMES (09990) rose by over 23% on the third trading day. On August 28th, the stock price continued to climb, reaching a peak of 1.48 Hong Kong dollars during trading. The announcement indicated that on August 26th, ARCHOSAUR GAMES repurchased 115,000 shares on the Hong Kong Stock Exchange, spending 145,400 Hong Kong dollars; on August 27th, it continued to repurchase 184,000 shares, spending 238,800 Hong Kong dollars; on August 28th, it continued to repurchase 192,000 shares, spending 265,400 Hong Kong dollars. The three consecutive days of share repurchases by ARCHOSAUR GAMES demonstrate the management's optimism about future performance, boosting investor confidence. The mid-year performance announcement revealed that ARCHOSAUR GAMES' long-term operation of the 3A product "In the Name of Shining" for female users has shown outstanding performance, with a solid user base and multiple new updates entering the top ten of the domestic iOS game bestseller list. Long-term operating products such as "Dragon Fantasy," "Under the Hongtu," and "Dreaming of Swordsman" continue to bring stable revenue globally to the company. The performance announcement also mentioned that ARCHOSAUR GAMES has a rich product reserve to create a diverse portfolio of games. In addition to the SLG game "Three Kingdoms Heroes: The Rise of Honghu" launched on July 13th, it plans to launch seven different types of game products globally from the second half of 2024 to 2026. Currently, the new card game "Dragon Clan: The Gate of Cassel" under the Dragon Clan IP strategy is scheduled for full-channel public testing on September 12th. In the recent closed beta test of "Dragon Clan: The Gate of Cassel," the product won players' favor with its unique differentiation strategy and innovative gameplay design. By accurately positioning and deeply restoring the original work to impress players, it has also made many reforms and innovations in business models and cultivation aspects, providing players with a higher quality and more enjoyable gaming experience. It is reported that another cultivation placement RPG game "Walking on the Wind," planned to be launched in 2024, will start a new round of testing today. "Walking on the Wind," created by Unreal Engine 4, is a cultivation-themed game that adopts placement numerical RPG gameplay. Players can freely choose between cloud travel and placement hang-up, as well as experience cultivation gameplay. In the previous tests, the game's traditional Chinese art style, various cultivation gameplay, and integration of Chinese classical culture have received positive feedback and praise from many players Today, the number of players participating in the "Riding the Wind" test has exceeded 10,000, and the servers are gradually opening. The game is also scheduled to open for full-platform reservations on September 6th, with the official launch expected in Q4 of this year. "Riding the Wind" has officially settled on TapTap, with an anticipated rating of 8.1. Most players have given it 4-5 stars. The artistic expression of 3D sword-flying and the design of GVG guild battles have been praised by players, making the performance of this traditional Chinese style cultivation product highly anticipated. Archosaurus Games' stock price has been rising for three consecutive days, and the company continues to repurchase stocks. "In the Name of Shine," as a flagship product in the female-oriented track, has proven its long-term revenue-generating ability in the market. With the launch of two highly anticipated new products, "Dragon Clan: Gate of Cassel" and "Riding the Wind," in the second half of the year, Archosaurus Games is expected to deliver excellent performance in 2024. A recent research report from CICC has also given it an outperform industry rating