13 August 2025 – Asphere Innovations Public Company Limited [SET : AS] announced its results for the second quarter of 2025, reporting total revenue of THB 263.8 million, an increase of 8.6% from the previous quarter, reflecting the effectiveness of the Company’s strategy to manage its established game portfolio for steady revenue generation. Net profit for the quarter was THB 21.8 million, down 44.5% from the prior quarter, primarily due to the impact of foreign exchange fluctuations on assets denominated in foreign currencies, particularly the US dollar, which weakened during the period. This impact represents only an accounting entry (Unrealized Loss) and does not affect the Company’s cash flow.

For the first half of 2025, the Company recorded total revenue of THB 506.7 million and net profit of THB 61.1 million, both lower than the same period last year, mainly due to the expiration of service contracts for two key titles in the Philippines. Nevertheless, Asphere maintained a strong cash flow position through effective cost and revenue management. In light of this, the Board of Directors approved an interim dividend payment from the first-half 2025 performance at a rate of THB 0.10 per share. The record date for eligible shareholders will be 29 August 2025, with payment scheduled for 12 September 2025.

The Company’s online games business continued to execute its core strategy of sustaining revenue momentum from classic titles through regular content updates and in-game events. In Q2, the PC game Yulgang in Thailand underwent its largest update in two decades, resulting in significant quarter-on-quarter growth across key metrics, including revenue, which rose by 49%, and monthly active users, which increased by 57%. These results underscore the effectiveness of maintaining and enhancing classic games.

PlayPark Services continued to make steady progress, gaining the trust of a leading global game developer from South Korea to manage marketing in Thailand and the Philippines, as well as to operate online item shop systems in five Southeast Asian markets. While still in the early stages of expansion, these developments mark an important step in building the Company’s capabilities to serve partners across the region.

For Q3/2025, the Company will maintain its focus on classic titles. In early August, the PC game Audition in Thailand launched a special 19th-anniversary campaign, which has been well-received by both current and returning players. To support its second-half revenue targets, AS also plans to launch MU New Dawn, a cross-platform title to be released in five Southeast Asian countries with the Philippines and Thailand as primary markets, as well as Yulgang Classic, a mobile game to be launched in Thailand. Both titles are based on strong IPs with established and loyal player bases, and are expected to enhance the Company’s competitive position and support sustainable growth going forward.

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