BEIJING, Sept. 2, 2022 /PRNewswire/ -- On August 31, 2022, Joy Spreader Group Inc. ("Joy Spreader" or the "Company"), a leader in new media performance-based marketing, announced its interim results for 2022. The results show that Joy Spreader achieved revenue of HK$1.367 billion, an increase of 118.91% YoY. Net profit for the first half of 2022 stood at HK$75 million, a slight decline YoY. The significant growth in revenue reflects Joy Spreader's strong capabilities at undertaking actions to reduce risk. With a diversified business portfolio, the company is well positioned for further significant growth.
The rise in Joy Spreader's first-half revenue was mainly attributable to the rapid expansion of the firm's overseas e-commerce business which achieved sales volume of 813,400 orders and sales revenue of HK$1.021 billion during the period.
Joy Spreader recorded a slight decrease in revenue from its domestic business given the impact of the stricter policy for the interactive entertainment sector alongside unfavorable external environments. Nevertheless, thanks to a modification of the business strategy in the second half of 2021 that has strengthened the performance-based marketing business for non-game and literature products, the company effectively reduced the risk of a decline in revenue from the interactive entertainment marketing business. In the first half of this year, the interactive entertainment marketing business achieved revenue of HK$229 million and the domestic short-form videos (SFVs)-based e-commerce marketing service posted turnover of HK$310 million, demonstrating the Group's business resilience and growth potential.
Joy Spreader's new culture business is still at an early stage. The Group has built traffic for the new media marketing business by combining quality IP and content incubation with a mix of professionally generated content from third parties as well as from its own in-house creators. By doing so, the firm has been able to provide customers with customized content and increase the conversion rate while reducing the cost of outsourcing traffic.
Based on its strong advantages in data and model algorithms, the leading mobile new media marketing technology group has expanded its business portfolio to include overseas e-commerce and culture services, which not only created a meaningful hedge against risk but also opened up possibilities for further growth.