GLOBAL PRESENCE
Established in 2006, IGG is a renowned developer and publisher of mobile games and applications with a strong global presence and an international customer base. Leveraging its success in client and browser PC online games, the Group changed its strategy to target the mobile games market in 2013. After years of effort, the Group’s mobile games are now available in 23 different languages worldwide with approximately 1.5 billion users in total and over 17 million monthly active users (“MAU”), while the APP Business has also hit its stride after a decade of perseverance. Embracing our corporate spirit of “Innovators at Work, Gamers at Heart”, the Group is dedicated to creating high-quality and enjoyable games and applications that will stand the test of time.
IGG is headquartered in Singapore with local offices in the United States, China, Canada, Japan, South Korea, Thailand, the Philippines, Indonesia, Brazil, Türkiye, Italy and Spain, and users from more than 200 countries and regions worldwide. Over the years, IGG has aggressively pursued a strategy of globalisation in R&D and operations, establishing long-term relationships with over 100 business partners, including global platforms, advertising channels, and vendors such as Apple, Google, and Meta. The Group’s international presence and partnerships have enhanced its competitive advantage in the industry.
BUSINESS REVIEW
In 2024, the Group reinforced its development goal of “diversified growth and steady profitability” through three growth drivers: two highly-rated games, “Doomsday: Last Survivors” and “Viking Rise”, along with the APP Business.
In terms of revenue, the Group experienced a 9% year-on-year increase, reaching HK$5.74 billion in 2024. This growth was primarily driven by “Doomsday: Last Survivors” and “Viking Rise”, which contributed approximately HK$1 billion and HK$700 million, respectively, while the APP Business generated HK$1.1 billion. These three contributors accounted for 49% of the Group’s revenue in 2024, up from 32% in 2023, underscoring the success of its diversified growth strategy. “Lords Mobile”, IGG’s flagship title launched nine years ago, made a significant contribution of nearly HK$2.6 billion in revenue. During the Year, revenue from Asia, Europe and North America accounted for 42%, 34% and 20%, respectively, of the Group’s total revenue.
With the contribution of the aforementioned businesses and extensive utilisation of AI technology, the Group achieved a significant 697% year-on-year increase in net profit, reaching HK$580 million in 2024. The Group’s core business experienced a substantial surge of 3,626% year-on-year to HK$650 million in net profit. The investment business recorded an unrealised loss of approximately HK$70 million due to fair-value changes of investees.
“Lords Mobile”
“Lords Mobile”, IGG’s blockbuster title that debuted nine years ago, is the Group’s first cross-platform, multi-language, real-time game, lauded by Sensor Tower for its longevity , and designed for a global audience. It has received widespread acclaim from gamers, and consistently generates stable revenue for the Group. As of 31 December 2024, it has amassed 740 million registered users worldwide and has 9 million MAU. In the second half of 2024, the game introduced the much-anticipated “Chaos Arena” feature, alongside ongoing IP collaborations and various offline events, to sustain player interest.
“Doomsday: Last Survivors”
Since its launch in August 2021, the game “Doomsday: Last Survivors” has regularly introduced new features, including account entrustment, an alliance vault, and multiple mini-games, to enhance gamer engagement. Additionally, the game ran a series of collaborations with different partners, including the classic game “Metal Slug 3”, and hit movie “Pacific Rim”. These initiatives, coupled with offline tournaments, were well-received by its 73 million players , leading to a 50% year-on-year increase in revenue. Following the success of the first International Offline SLG Championship held last year, the Group is gearing up for the “2025 World Championship” for “Doomsday: Last Survivors”, “Lords Mobile” and “Viking Rise” to let players experience the thrill of ‘live’ competitive gaming.
“Viking Rise”
“Viking Rise”, the Group’s first Viking-themed strategy game, received widespread acclaim when it was launched in December 2022. Throughout the year, the game continued to introduce new features, including Battle Royale gameplay, mercenary guild battles and a new conquest season entitled “Fenrir’s Judgement”. Additionally, the game reintroduced a collaboration with the popular TV show “Vikings” from MGM Television and its spinoff series “Vikings: Valhalla”. These enhancements and marketing initiatives resonated with its 40 million players , driving a remarkable 66% year-on-year increase in revenue.
APP Business
After a decade of exploration, research and development, the Group’s APP Business finally achieved significant breakthroughs and remarkable growth over the past two years. It has built a proprietary ad traffic platform supported by service-oriented mobile applications. Leveraging the Group’s global operational expertise and a base of more than one billion users, the APP Business reached a new milestone of 62 million MAU. It generated a remarkable HK$1.1 billion in revenue in 2024, representing 19% of the Group’s total revenue. The APP Business has emerged as a vital growth driver for the Group, contributing notably to a net profit of HK$95 million.
Investments
The main objectives of the Group’s investments are to strengthen its overall R&D capability and enrich its product portfolio. Through strategic agreements with companies in the games industry, including licensed publishing and outsourced game development, the Group strives to diversify its game portfolio. At the same time, the Group tracks strategic directions in the Internet industry by investing in private equity funds with outstanding performance and portfolios focused on mobile Internet business. During the Year, the Group’s investments recorded a net loss of approximately HK$70 million due to fair value changes of investees.
PROSPECTS
Entering 2025, the Group will continue to enhance its gaming and APP Business, with a commitment to sustaining long-term profitability. The Group will release two blockbuster strategy games, “Frozen War” and Project PSS alongside a blockbuster casual game, “Tycoon Master”. With their innovative and meticulously crafted gameplay, these titles possess potential. The Group is dedicated to drive growth for the APP Business by enhancing its platform development.
Embracing the corporate spirit of “Innovators at Work, Gamers at Heart”, the Group will continue to strengthen its global R&D and operation capabilities, to relentlessly pursue its strategy of quality, innovation, and excellence in creating innovative yet timeless games.
