Joy Spreader Announces 2022 Interim Results: Its Diversified Business Strategy Continues to Solidify Fundamentals

BEIJING, Sep. 2, 2022 /PRNewswire/ -- Joy Spreader Group Inc. (HKG:6988, "the Group", "Joy Spreader"), a leading marketing technology company listed in Hong Kong, announced its interim results for the fiscal year 2022 on August 31. According to the report, the Group maintained robust business growth in the first half of 2022, with a revenue of HK$1.367 billion, almost matching the revenue of HK$1.396 billion for the full year of 2021. The solid growth was, for the most part, attributable to the Group's rapid expansion in Southeast Asia, with the international e-commerce business bringing in sales of 813,400 units or HK$1.021 billion for the half-year time period.

Based on the underlying logic of algorithmic marketing, coupled with leading preference-driven recommendation algorithms, Joy Spreader has not only accelerated the expansion of the international e-commerce portfolio and achieved rapid sales growth, but also adjusted its interactive entertainment business strategy in line with the evolving macro environment of its domestic business through increased efforts to expand non-interactive entertainment businesses. These adjustments have delivered remarkable results.

In the first half of 2022, Joy Spreader recorded revenue of HK$229 million from interactive entertainment and digital product marketing, and HK$310 million from the domestic short-form video (SFV)-based e-commerce marketing business. The two key businesses, which contributed nearly 70% of the Group's revenue last year, have been hard hit by challenging market conditions during the reporting period, such as tighter regulation policies and the ongoing pandemic. However, profits did not fall off a cliff as they did for the gaming and pure e-commerce sectors, mainly due to the Group's responsive business strategy of enriching its marketable product categories. Joy Spreader witnessed a YoY revenue surge of 151.27% to HK$114 million in its non-interactive entertainment business, which served as an effective hedge against the risks from tightening industry policies and the continuation of the pandemic. The jump in revenue fully proved the Group's forward-looking diversification of the product portfolio, as well as the core strength of its prepaid locked-in traffic model coupled with its high barrier to entry for competitors.

With the progressive implementation of its diversified business development strategy, alongside strong digital technologies that align with the trends driving the mobile web as well as with the business needs of customers, Joy Spreader is well positioned to efficiently utilize new media traffic to facilitate the commercialization of new media, the scalability of its international e-commerce, and the development of IP-based culture-related businesses, in a move to evolve into a leading new media performance-based technology company with global reach by integrating algorithmic marketing, overseas e-commerce, and first-party traffic.

SOURCE Joy Spreader Group Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED