青瓷游戏2025年度报告

2457386569157187193195197198200291292 PO Box 309, Ugland HouseGrand Cayman, KY1-1104Cayman Islands 45361008 24840 11125 9901 50037 45 1831717121716 1112 201623 Maples Fund Services (Cayman) LimitedP.O. Box 1093Boundary Hall, Cricket SquareGrand CaymanKY1-1102Cayman Islands www.qcplay.com 20211216 6633 ৌ ਕ ࿜ ࠅ (1)MAU(i)MAU(ii)MAUMAU (2)MPU(i)MPU(ii)MPUMPU 20252025遊 戲PCIP 遊 戲2025614.56121.7 2025ARPPUSteamPCIP 2025Steam(Tingus Goose)20263890%IP2025202620232026 ࠯ ࢩੂ Б ֜జ ѓࣣ 2025AIAIAI 2025IP2026IPE 2026326 • •IP • •IP ၍ ଣ ᄴ ী ሞ ʿ ʱؓ •PC (Steam)ARPPU 1. 2. PC 3. AI IPIP 20252025202513,016.677.02%6,668.954.93%3,507.897.68%6.831.53%2,570.767.92%4.562.59 20251231102.214.00%1 2025IPStyle2026 4.5627%43.2%123.34162%(i)(ii)(iii) 20251231102.214.00%112.3152.41%13.9138.93%ARPPU285.617.92%ARPPU(i)(ii) (i)(ii)(iii)IPAI – ––Steam–AI (1)IP2025112026 (2)20256ARPPU20030050% (3)iOSiOS (4)EAI (5)2025Steam4827590%SteamindiePlayPC 20251231PCSteamRogue-like RPGRPG 202062025123139.2229.74SuperSnailIP202514––––ARPU2024ARPU30%2.74 20213Rogue-like RPG13.21 202361034.12 20239202310202510iOSiOS7.192026 202424942.38 2024611.43 220248RPG1049.02 20168Rogue-like RPG202512312,60020253SteamTrending Free20263Steam62PCIP5,000IP7.75 Tingus Goose202512SteamSteam90%Steam2025 indiePlayINDIE POINTER2025INDIE Live Expo202638 20156Diablo–like20188RPG2023120231212.08 – 202512311,623.52QQTapTap2.48% 123 1.E 150AI20262028 20262027 2026 3. AI AIAIAIAI E 20241231628.027.4%20251231456.12025259.156.8%202456.1%197.043.2%202443.9%(i)(ii)(iii)(iv) 202520241231 25.7%20251231440.9 •22.6%20251231282.8 •30.8%20251231158.12 50.2%202512315.5 66.2%202512315.5 41.8%202512 314.2 20241231264.826.5%20251231194.8(i)(ii)IP(iii)(iv)(v) 202520241231 26.2%20251231101.7 ၍ ଣ ᄴ ী ሞ ʿ ʱؓ IP23.2%2025123144.6IP2 15.6%2025123111.9 40.5%2025123122.0(i)(ii) 20241231363.128.0%20251231261.32025123157.3%57.8% (i)20252024123159.3%76.0%(ii)(iii) 20241231216.052.5%20251231102.62 (i)(ii)(iii) 20251231104.9106.1 (i)(ii)(iii)(iv)(v) 2025123161.461.0 (i)(ii) 2024123160.9120.9%20251231134.5A (i)(ii) 202412316.149.6%202512313.1 (i)(ii) 202412314.723.5%202512313.6(i)2025(ii) 202412310.1202512318.2 2024123147.1161.7%20251231123.3(i)2024(ii)2025202412316.54%2.87% 20251231444.320241231450.0 2025123110.080.0 202512311,806.7149.510202412311,686.9165.52025202412311,208%1,019% 20251231 2025202412317%9% 20251231202412311,146.211.1%202512311,273.1(i)A(ii)202512315% 20251231 I. 4441,27318021.7%62.1%8.7% (1)(2)(3)(4)(5)(6)(7) II. ••• •••NFT•••• (i)(ii) III. (a) 1218 (b) ••• •• (c) (d) (e) IV. II.III. 20251231 20251231 202512313.2202412312.4 20251231 20251231 ၍ ଣ ᄴ ী ሞ ʿ ʱؓ 202512312%20244%1%20242% 20251231202512315% 2025123142%202435%15%202415% 2025123110%5% (AI)AIAIAIAIAI 3A 178180–6061– ໨ ԫึ జ ѓ 20251231 Rogue–like RPG 20251231 202512311 388(2)5 3 69156 291 20251231187290 2025202669202520264(www.qcplay.com)(www.hkexnews.hk) 20251231202412312026 2025 2025202664202669 202520266318317171217162026692025 ໨ ԫึ జ ѓ (1)(2)(3) 13.91C269156 (1)(2)(3)165174 16.19 2025 20231017 ໨ ԫึ జ ѓ 20251231 35 2025123154217 7(b) 20251231 1,500,0012,000,0002,500,0013,000,0003,000,0013,500,0003,500,0014,000,000 202512318.10 ໨ ԫึ జ ѓ 14 25 0.1 2025123125202512315,118 2025123129 157186 XV(i)XV78(ii)352(iii)C3 (1)691,330,500 (2)202217Keiskei Holding Ltd.29.81%Keiskei Holding Ltd.Yang Family Holding LimitedKeiskei QC Ltd.99%1%Yang Family Holding LimitedPeter Yang Family TrustTMF (Cayman) Ltd.Peter Yang Family TrustPeter Yang Family TrustKeiskei Holding Ltd.Keiskei Holding Ltd. (3)202217Intelligence QC Holding Ltd.Intelligence QC Ltd.3.62%5.40%Intelligence QC Holding Ltd.Intelligence Future Holding LimitedIntelligence QC Ltd.99%1%Intelligence Future Holding LimitedIntelligence Future TrustTMF (Cayman) Ltd.Intelligence Future TrustIntelligence Future TrustIntelligence QC Holding Ltd.Intelligence QC Ltd.Intelligence QC Holding Ltd. (4)202217Gentle Tiger Holding Ltd.1.86%Gentle Tiger Holding Ltd.Sebastian Family Holding LimitedGentle Tiger Ltd.99%1%Sebastian Family Holding LimitedSebastian Family TrustTMF (Cayman) Ltd.Sebastian Family TrustSebastian Family TrustGentle Tiger HoldingLtd.Gentle Tiger Holding Ltd. (5)Cloud Rings Ltd.7,439,214Cloud Rings Ltd.7,439,214 XVXV78352 336 (1)691,330,500(2)202217Keiskei Holding Ltd.29.81%Keiskei Holding Ltd.Yang Family Holding LimitedKeiskei QC Ltd.99%1%Yang Family Holding LimitedPeter Yang Family TrustTMF (Cayman) Ltd.Peter Yang Family TrustPeter Yang Family TrustKeiskei Holding Ltd.Keiskei Holding Ltd.(3)(4)202217Intelligence QC Holding Ltd.Intelligence QC Ltd.3.62%5.40%Intelligence QC Holding Ltd.Intelligence Future Holding LimitedIntelligence QC Ltd.99%1%Intelligence Future Holding LimitedIntelligence Future TrustTMF (Cayman) Ltd.Intelligence Future TrustIntelligence Future TrustIntelligence QC Holding Ltd.Intelligenc