XD INC (02400) announces profit expectation, expecting to achieve a net profit of approximately 860 million to 940 million yuan in 2024, turning losses into profits year-on-year.

XD INC (02400) announced that the group is expected to achieve revenue of approximately RMB 4.96 billion to 5.04 billion in the 2024 fiscal year, an increase of approximately 46.3% to 48.7% year-on-year; and to achieve a net profit of approximately RMB 860 million to 940 million in the 2024 fiscal year, compared to a net loss of approximately RMB 65 million in the 2023 fiscal year. Based on the information currently available, the board of directors believes that the expected increase is mainly due to the following reasons: (i) the newly launched self-developed games "GoGo Muffin", "Sword of Convallaria" and "Heartopia" have performed well, increasing the group's revenue and gross profit margin; (ii) TapTap has achieved continuous growth in revenue and profit; and (iii) the impact of decreased revenue from certain existing games and increased marketing expenses has been offset.