2023 11:E-MAIL:SAC:S002051608001 E-MAIL:SAC:S0020519080002 2 23 Q2 Q3 2023H1 1442.63 2.39%22.16%1067.05 3.41%29.21%23Q1/Q2-19.42%/15.92%7 8 221.10/228.51 51.09%/63.73%2022 App App IAA IAP IAA+IAP 200+AI+MR ROI 2023 200+IP+AI Meta Quest3 Vision Pro AI+MR AIGC 1 AI 2 AI NPC AI UGC AI+XVCXvMqNnOmNpRnOnQqPpO9PdN9PmOnNsQmPeRpOnMeRmOsR8OqRtNMYpNqOMYmOpO 3 ARPU+MR AIGC 1.1 4 Datayes 23 2021 8 2022 3 2022Q2 2022 2023H1 1442.63 2.39%22.16%1067.05 3.41%29.21%23Q1/Q2-19.42%/15.92%7 8 221.10/228.51 51.09%/63.73%342 319 347 363 379 392 408 402 554 493 508 542 588 559 555 553 604 500 416 409 487 580 221 229-60%-30%0%30%60%90%0100200300400500600700 1.1 5 TOP150 MMORPG RPG SLG ARPG RPG 2018-2022 TOP150 MOBA 18 MMORPG 24.3%7.9%RPG 15.4%10.3%3.9%14.1%MMORPG SLG 8.6%11.2%ARPG RPG 5%RPG RPG 15.6%13.9%13.4%13.6%14.0%6.9%5.4%8.4%10.1%6.0%15.4%15.4%10.7%11.3%10.3%24.3%21.4%16.2%12.2%7.9%3.9%8.4%13.8%12.9%14.1%8.6%10.5%11.2%9.6%11.2%3.8%3.6%3.5%3.6%5.8%1.2%3.2%4.9%21.5%21.5%21.6%23.7%25.8%0%10%20%30%40%50%60%70%80%90%100%2018 2019 2020 2021 2022MOBA RPG MMORPG SLG ARPG RPG 1 1.1 6 ARPG()ARPG IP 2022 APRG 109.6 2018 115.7%CAGR 21.2%8670 2018 25.2%CAGR 5.8%20-29 60%95%2018-2022 ARPG 73.4 126.4 CAGR 14.6%ARPG IP+IP 50%2022 66.0 2018 256.8%2022 7 TOP150 9490 2018 64.2%90%69.5 2018 116.5%CAGR 21.3%ARPG 50.8 57.1 73.2 81.1 109.6 69.2 72.4 79.0 82.3 86.7 0204060801001202018 2019 2020 2021 2022 18.5 15.6 29.4 61.0 66.0 57.6 47.3 66.1 82.8 94.9 01020304050607080901002018 2019 2020 2021 2022 1.1 7 6.68 2018 2022 6.64 0.33%23 6.68 0.35%Questmobile 6 50%517 534 566 583 626 641 665 666 664 668-1%0%1%2%3%4%5%6%7%8%0100200300400500600700800 yoy2 6.68 5.65.96.25.9 5.95.86.06.55.85.75.8 5.86.00%10%20%30%40%50%60%012345678 Questmobile 1.1 8 2019Q1-2023Q2 APP 2019Q1-2023Q2 APP 0.3-0.5 Q3 2020-2022 23 3 0.340.330.350.420.50 0.500.410.310.380.320.350.230.290.280.460.480.310.280%1%2%3%4%5%6%7%8%9%10%0.00.10.20.30.40.50.6 1.1 9 2014-2023H1 22 23 2021 2018 3 2019 2020 2021 445.05 2022 10%2023 2.7%4 ARPU 22 23H1 221.30 263.49 292.78 349.12 342.72 360.14 419.21 445.05 400.39 215.96 19.1%11.1%19.2%-1.8%5.1%16.4%6.2%-10.0%-2.7%-15%-10%-5%0%5%10%15%20%25%0501001502002503003504004505002014 2015 2016 2017 2018 2019 2020 2021 2022 2023H1 yoy 1.2 10 22 2023 1-10 88/87/86/86/86/89/88/0/89/87 3 8 58 2022 22 2022 2023 2024 84 8416686 86 86 87456067 6973708488 87 86 86 8689 88 89 873343442731020406080100120140160180 1.3 11 TOP100 5 2022 4.4 TOP100 2019 25%2022 10%2023 134.1%0%5%10%15%20%25%30%0510152025302019 2020 2021 2022 TOP100 22.533.94.400.511.522.533.544.552018 2019 2020 2021 2022 0501001502022H1 2023H1 134.1%TOP200 TOP100 12 1.3 12 IP 2023 17 iOS 4 4 12 7 2 2-4+IP DNF DNF 3D 2023 TOP5 1-3 4 7 8 1 SLG 4+RPG 12+ARPG 7+MMORPG 9+2 MMORPG 3+5+1-4+3 3+2 MMORPG 2+1-SLG 1-4 2+SLG 1+ARPG 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