Total net revenues were RMB 7.3 billion in the second quarter, up 20% year over year, led by games and advertising. Games revenue increased 60% year over year to RMB 1.6 billion, driven by new SLG seasons and celebration events. Advertising revenue grew 20% to RMB 2.4 billion, supported by AI integration, improved ad infrastructure, and a larger advertiser base. Value-added services revenue rose 11% to RMB 2.8 billion, led by live broadcasting, premium memberships, and fan-charging programs. Gross profit rose 46% to RMB 2.7 billion and gross margin expanded to 36.5%. GAAP net profit was RMB 218 million and adjusted net profit was RMB 561 million. Operating expenses remained stable with R&D down 3%, while DAUs reached 109 million and MAUs grew to 363 million.
Total net revenues-- Total net revenues were RMB 7.3 billion in the second quarter, up 20% year over year, with games and advertising as the main growth drivers. Games revenue-- Increased 60% year over year to RMB 1.6 billion, propelled by new seasons of the SLG title and celebration events. Advertising revenue-- Grew 20% year over year to RMB 2.4 billion, supported by AI integration, enhanced ad infrastructure, and an increased advertiser base.
Value-added services (VAS) revenue-- Rose 11% year over year to RMB 2.8 billion, led by live broadcasting, premium memberships, and fan-charging programs. Gross profit-- Grew 46% year over year to RMB 2.7 billion, with gross margin expanding to 36.5%, up from 29.9% in the same period last year.
GAAP net profit-- GAAP net profit was RMB 218 million, compared with a net loss in the same period last year. Adjusted net profit-- Adjusted net profit was RMB 561 million, shifting from an adjusted net loss ratio of 4.4% in the second quarter of 2024 to an adjusted net profit ratio of 7.6%.
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