Awesome! Cross-border sales revenue exceeds 10 billion yuan

Recently, many cross-border sellers released their performance reports for 2023. Many of them have achieved soaring performance, with annual revenue even exceeding 10 billion yuan.

Shenzhen stationery sales boom, Qixin Group's total revenue exceeds 10 billion

Qi Xin Group was founded in 1991 and is a representative enterprise of B2B office supplies services and SaaS cloud video. As early as 2009, it was listed on the Shenzhen Stock Exchange. At present, Qi Xin Group's main businesses are: B2B office supplies research and development, production and sales; SaaS cloud video services, etc. After more than 30 years of development, Qi Xin Group has become a leading enterprise in China's B2B office supplies services and SaaS cloud video, and its business has expanded to more than 120 countries and regions around the world.

According to the financial report data released by Qixin Group, the company achieved operating income of 11.099 billion yuan in 2023, an increase of 28.62% compared with 2022; the net profit attributable to shareholders of the listed company was 76.91 million yuan, a year-on-year decrease of 39.41%; the net profit attributable to shareholders of the listed company after deducting non-recurring items was 75.39 million yuan, a year-on-year decrease of 17.61%. The net cash flow from operating activities was 634 million yuan, a year-on-year increase of 94.74%.

Among them, office supplies are the main source of Qi Xin Group's operating income, with revenue reaching 10.991 billion yuan in 2023, an increase of 30.3% compared with the same period last year.

Although the revenue increased significantly in 2023, Qi Xin Group's profit did not increase despite the increase in revenue.

Specifically, the main reason why Qi Xin Group's revenue increased but its profit did not is that in 2023, the scale of several of Qi Xin Group's higher-profit businesses shrank to varying degrees. Among them, the revenue of Internet SaaS software and services fell by 47.24% year-on-year. The gross profit margin of this business is quite high, at 34.23%. The sharp decline in revenue of this business directly affected the company's total profit. However, it should be noted that the gross profit margin of Qi Xin Group's main product, office supplies, is only 8.08%, but it supports an operating income of 10.991 billion yuan.

Therefore, it will be very important for Qi Xin Group to refine cost control and develop high value-added products in the future.

Qi Xin Group also released its first quarter 2024 performance report.

In the first quarter of 2024, Qi Xin Group achieved revenue of 2.191 billion yuan, net profit attributable to shareholders of listed companies of 49 million yuan, non-net profit of 44 million yuan, and earnings per share of 0.07 yuan.

In the first quarter of 2024, the company's net cash flow from operating activities was 35 million yuan, an increase of 328.77% compared with the same period last year.

Since its listing in 2009, Qixin Group has been based on its own brand "COMIX Qixin" to provide comprehensive office stationery, office supplies, office equipment and other products to domestic and foreign customers. Specifically, Qixin Group's own brands are composed of eight brands including COMIX Qixin, COMIX Qixin Office, COMIX Qixin Stationery, Compera, V'mo, and Yiwen.

The products include stationery, comprehensive stationery, writing tools, paper books, OA equipment and consumables, printing equipment and consumables, office life, packaging tape, and conference display supplies, a total of 9 categories. The products can cover a variety of usage scenarios, including corporate office, party and government office, smart office, family life and student learning scenarios.

"Comix", as a well-known office product brand under Qi Xin Group, has products that rank high in multiple categories on the Amazon platform and are widely welcomed by overseas consumers.

Since 2015, Qi Xin Group has extended its main business to enterprise-level SaaS business, and has continued to deploy in sub-sectors such as data marketing, cloud video conferencing, etc.

Overall, Qi Xin Group has a great advantage in the office supplies market. Faced with complex and severe domestic and international situations and numerous risks, Qi Xin Group has demonstrated its ability to achieve sustainable development, with revenue maintaining a steady growth trend.

Game giant Century Huatong's annual revenue exceeds 13 billion yuan

Century Huatong was founded in 2005. The company did not start out as an online game company, but rather as an auto parts company. In July 2011, Century Huatong was officially listed on the Shenzhen Stock Exchange. It was not until 2014 that the company transformed into an Internet game company.

After the company's transformation, it has successively acquired game companies such as Qiku Network, Tianyou Software, Diandian Interactive, and Shengqu Games, becoming one of the leading game companies in the A-share market. In the first quarter of 2023, the company's revenue ranked fourth among listed game companies, second only to Tencent, NetEase, and Sanqi Interactive Entertainment.

According to the financial report data released by Century Huatong, the company achieved operating income of 13.285 billion yuan in 2023, an increase of 15.77% compared with 2022; the company's net profit attributable to shareholders was 524 million yuan, and its non-net profit was 420 million yuan, successfully turning losses into profits; the net cash flow generated by operating activities was 3.102 billion yuan, an increase of 108.09% compared with the previous year.

As for the reasons for the rapid growth of the company's performance, Century Huatong said that the company's overseas game business performed outstandingly in 2023. The company's overseas market-oriented Diandian Interactive achieved a new breakthrough, shifting from distribution agency to full self-research, and its revenue in 2023 increased by 56.96% compared with the previous year. In addition, Diandian Interactive has achieved very good results in multiple tracks. Among them, the ice and snow survival game "Whiteout Survival" ("Endless Winter") became the dark horse of overseas games in 2023. The cumulative downloads of the game after its launch exceeded 2 million, ranking at the top of the US iOS game best-selling list.

It is worth mentioning that according to the ranking of Chinese game manufacturers' overseas application revenue in December 2023 released by global research institution data.ai, "Whiteout Survival" ranks first in the overseas revenue list. In addition, according to the "Global Revenue Ranking of Chinese Mobile Game Publishers in January 2024" data released by Sensor Tower, "Whiteout Survival" remains the first in the global SLG mobile game best-selling list.

In the first quarter of 2024, Century Huatong's performance continued to maintain a steady growth trend, with revenue of 4.262 billion yuan, an increase of 40.99% compared with the same period in 2023; net profit attributable to shareholders was 652 million yuan, a year-on-year increase of 50.32%; net profit after deducting non-recurring items was 647 million yuan, a year-on-year increase of 91.66%.

However, in the past few years, Century Huatong's transformation path was not smooth, its gaming business continued to decline, and its overall performance was not good.

According to the annual report data previously released by Century Huatong, from 2019 to 2021, Century Huatong's net profit was 2.327 billion yuan, 2.946 billion yuan, and 2.285 billion yuan, respectively, totaling 7.558 billion yuan. However, by 2022, Century Huatong's loss amounted to 7.092 billion yuan.

From 2019 to 2022, Century Huatong's gaming business revenue was RMB 12.146 billion, RMB 12.98 billion, RMB 11.61 billion, and RMB 8.976 billion, respectively. Except for a slight increase in 2020, it has been declining sharply since 2021.

From the above data, it can be seen that Century Huatong suffered severe losses in 2022, and its gaming business also declined significantly.

The reason is that according to the data of the "China Game Industry Report 2022", in 2022, many market indicators of China's game industry declined significantly, and the actual sales revenue of the Chinese game market decreased by 30.629 billion yuan year-on-year. In addition, the issuance quota of domestic game licenses is also tightening. On the other hand, the market performance of the product also directly affected Century Huatong's performance. In 2022, although Shengqu's self-developed games "Celebrating Yu Nian" and "Legendary World" had a strong momentum when they were first launched, they fell out of the iOS game best-selling list less than half a year after they were launched, so it also had a certain impact on the company's performance.

However, by 2023, the company's business has improved significantly, especially its overseas business performance. The company's self-developed overseas games and legendary game IP have the opportunity to become new growth points for the company in the future.

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