Its diversified business strategy continues to solidify fundamentals
BEIJING, September 2, 2022 /PRNewswire/ — Joy Spreader Group Inc. (HKG: 6988, “the Group”, “Joy Spreader”), a leading Hong Kong-listed marketing technology company, announced its interim results for fiscal 2022 on August 31. According to the report, the Group maintained robust business growth in the first half of 2022, with revenue of HK$1.367 billionalmost equal to the income of HK$1.396 billion for the full year 2021. The solid growth is, in large part, attributable to the Group’s rapid expansion in South East Asiathe international e-commerce activity generating sales of 813,400 units or HK$1.021 billion for the half-yearly period.
Based on the underlying logic of algorithmic marketing, combined with preference-based recommendation algorithms, Joy Spreader has not only accelerated the expansion of international e-commerce portfolio and achieved rapid sales growth, but also adjusted its online interactive entertainment business strategy in line with the changing macro environment of its domestic business through increased efforts to develop the non-interactive entertainment business. These adjustments have yielded remarkable results.
In the first half of 2022, Joy Spreader recorded sales of HK$229 million interactive entertainment and digital product marketing, and HK$310 million of the nation’s short-form video (SFV)-based e-commerce marketing business. The two core businesses, which contributed nearly 70% of Group revenue last year, were hit hard by challenging market conditions during the reporting period, such as stricter regulatory policies and the ongoing pandemic. However, profits did not fall like in the gaming and pure e-commerce sectors, mainly thanks to the Group’s reactive commercial strategy of enriching its tradable product categories. Joy Spreader recorded an annual revenue increase of 151.27% to reach HK$114 million in its non-interactive entertainment business, which served as an effective hedge against the risks associated with the tightening of sector policies and the continuation of the pandemic. The leap in revenue fully demonstrated the forward-looking diversification of the Group’s product portfolio, as well as the fundamental strength of its immobilized prepaid traffic model coupled with its high barrier to entry for competitors.
With the gradual implementation of its diversified business development strategy, along with strong digital technologies that align with mobile web trends as well as customers’ business needs, Joy Spreader is well positioned to effectively utilize traffic from new media to facilitate the commercialization of new media, the scalability of its international e-commerce and the development of IP-based culture-related businesses, with the aim of becoming a leading performance-based technology company. new media with global reach by integrating algorithmic marketing, overseas e-commerce and first party traffic.
SOURCE Joy Spreader Group Inc.