AS revealsstrong Q1/2023 profit growth,Expects to achieve annual budgeted revenue

DATE : May 12, 2023

May 12, 2023: Asphere Innovations Public Company Limited (formerly known as Asiasoft Corporation Public Company Limited), or AS, has announced its operating results for the first quarter of 2023. The company reported a revenue of Baht 320.1 million and a net profit of Baht 43.5 million, representing a decrease in income of approximately Baht 48.6 million or 13% compared to the previous quarter. However, the net profit increased by Baht 34.4 million or 378%.

Mr. Gerry Ung, Chief Financial Officer of Asphere Innovations Public Company Limited, stated, “The first quarter of 2023 demonstrated the online game business as the primary revenue driver for the company. The majority of our revenue is derived from existing games that consistently update their content. Despite the launch of Cyber Fantasy, a mobile game in Vietnam in mid-March, which impacted our ability to fully capture revenue in the first quarter, our overall revenue experienced a slight decrease compared to the previous quarter. However, our net profit has grown due to effective management and the retention of our gamers community, resulting in recurring spending within the games. Additionally, we have effectively managed our selling expenses during this quarter.

For the year 2023, the management team expresses confidence that Asphere Innovations Public Company Limited will achieve its targeted revenue growth. The company anticipates capitalizing on the continuous growth of the overall game market, with plans to launch 7 new games, including big flagship games that have achieved successful results from overseas launches, such as the mobile game Samkok Tactics (乱世逐鹿). This game has already gained popularity in China and Taiwan, attracting approximately 5 million players within the first month. Another mobile game, Immortal Kingdoms M (Chaos Portal), generated over USD 6 million in revenue during its first month of launch in South Korea. Additionally, the company will leverage marketing technology to enhance marketing efficiency, enabling more precise targeting of the desired target audience and gaining insights to sustain and understand the customer base. This strategic approach will result in long-term cost-effective marketing management.”