From "discovery" to "creation", TapTap's ecological upgrade helps release long-term value. XD INC (02400) stock price hits a new high within the year.

XD INC (02400) has recently performed well in the capital market. Since the beginning of the year, the company's stock price has continued to rise, with a cumulative increase of about 130%, demonstrating strong growth momentum. On the afternoon of August 4th, XD INC's stock price rose by over 8% at one point, reaching a highest intraday price of HKD 57.2 per share, hitting a new high for the year. By the end of trading, it had risen by 7.48% to HKD 56.75. The 7th TapTap Developer Salon (TDW 2025) was successfully held from August 2nd to 3rd. This event focused on the opportunities and challenges faced by game creators in the context of the AI technology wave and the resurgence of the PC gaming market. At the event, Huang Yimeng, CEO of TapTap and co-founder, stated that TapTap is transitioning from "helping players discover good games" to "helping developers create good games." This shift in philosophy not only showcases the evolution of the TapTap platform but also reveals XD INC's deep layout in the game industry value chain. Over the past 12 months, TapTap has achieved steady growth, with a 16% increase in total game downloads, a 10% increase in game reservations, and an 11% increase in platform DAU. As a game distribution platform, TapTap has achieved steady development in the context of the continued growth of the Chinese gaming market. At the developer salon, Huang Yimeng also introduced that TapTap is continuously optimizing its traffic allocation strategy and steadily increasing the proportion of "editorial recommendations." The exposure of editorial recommendations on the homepage has increased from 7% to 14% over the past year, which is significant for independent or high-quality games that require support. Meanwhile, the exposure of advertisements on the homepage is maintained at less than 20%, adhering to the red line and ensuring that developers do not have to worry about excessive commercialization affecting game promotion effectiveness. In addition, TapTap has taken various actions in the ecological construction (paid games, SDK, and REP plan). For example, paid games have seen much higher growth rates over the past six months compared to the overall platform. Huang Yimeng stated that they have always had their own persistence and preference for one-time purchase games. With the normalization of version number policies, paid games have encountered good development opportunities, and Huang Yimeng expressed willingness to provide more support for these types of games. In terms of SDK, after a year of effort, TapTap SDK V4 will provide developers with more stable and effective basic function support, including the upcoming cloud storage function that can provide a similar online game storage experience for many single-player games. The V4 version also integrates the latest REP (Resource Exchange Plan) function to quantify and reward the value of each game brought to TapTap. In terms of new features and directions, TapTap has introduced a new feature, "game major version updates," this year to provide a complete service process for continuously updated games; the TapTap Desktop version (PC) launched in April is dedicated to providing a comprehensive experience for players, and it inherits the characteristics of the mobile version, including no collaboration, no division, and no mandatory integration of SDK, and has now integrated approximately 130 games, with a considerable user base. Through the TapTap Developer Salon (TDW 2025) hosted by XD INC, not only did we see the strategic upgrade of TapTap from "discovering good games" to "helping create good games," but we also witnessed its continuous innovation in game ecosystem construction. From traffic allocation optimization, PC expansion, to the layout of mini-game platforms and AI creation tools, TapTap is gradually building a more open and efficient developer ecosystem.