Letter to Shareholders

Gamania Group's 2023 consolidated operating revenue was NTD 9.79 billion, operating gross profit was NTD 3.79 billion, and operating profit was NTD 640 million; under review, the annual revenue and profit scale decreased, mainly due to small sales and no new product introductions. However, through offline special events and localized operations, we have driven a significant increase in active players. Additionally, under continuous cultivation of the digital entertainment landscape, our diversified business revenue has steadily grown. The Company's net profit after tax reached NTD 580 million, and EPS was NTD 3.28.

In the face of the challenges of the macro environment, Gamania Group has never stopped, and realized the business goal of a pan-entertainment ecosystem through multi-faceted business strategies. Looking back to 2023, the annual revisions, new classes, and large-scale events of many key games have consolidated player activity. Among them, "Lineage M" was revamped for the 6th anniversary, allowing cross-country battles between Taiwan and South Korea for the first time; for the 18th anniversary, "MapleStory" opened up new topics through diverse cross-borders, and also entered Taipei Music Center to create large-scale parties to reward players and attract thousands of people to participate. 10,000 people have fun online and announced the biggest revision of the past years. In addition, limited-edition events for the 14th anniversary of "Elsword" and "Mabinogi" gathering players to interact through Vtuber and the community all drove the growth of monthly average active users.

Continuously pursuing the key growth momentum of diversified business layout, Gamania Group's services in payment, e-commerce, IP, information security and other fields are closely connected and advancing hand in hand. In addition to optimizing the cash flow service, GASH also targets the new generation of IP fans economy to effectively increase the contribution of digital collectors. Gamania Payment focuses on the pan-entertainment channel, expands the payment scenarios such as ACGN and amusement park, and creates an interesting payment experience. E-commerce leisure shopping has mainly focused on ACGN categories, which has led to an 80% increase in customers for several years. Discover richer original IP through "bfcreators" program, Gamania Group assists over 100 creators in the matching of promotional resources, and is developing towards cooperation with brokers; about 2,000 online manga titles have been accumulated on the literature and manga star platforms so far and received 6 million views. In addition, to embrace the digital wave, Digicentre showed the capabilities of its information security technology, actively participated in cloud and information security conferences, and provided customized solutions to enterprises, which drove the annual growth of its commerce business by 1.5%.

Looking forward to 2024, we expect the classic game "MapleStory" to create a new growth curve through the largest revision in the past years, and to boost the revenue momentum side by side with the new distributor’s product "Wars of Prussia" to be launched in Taiwan, Hong Kong and Macau. GASH has also introduced a new "super-store instant deposit" function that allows users to more safely store services at the four major hyper-commercial channels, and develop new types of digital products to enrich the collection experience. In terms of IP, the cartoon star collaborated with PILI puppet show and the Chinese astrologer Tang Qiyang to cooperate with each other to expand new user forms. As the demand for information security and cloud-based information security of global enterprises continues to rise, Digicentre is expanding its customers in diversified industries and in response to the net zero carbon emissions issue. The ESG Intelligence Center uses digital tools to assist enterprises to quickly introduce net zero emissions management to increase business development.

Gamania Group will continue to focus on "Data, AI, Globalization" and embrace the new wave of the high-tech era. Thank you for your continued trust and guidance towards Gamania Group. We will adhere to our commitment to sustainable development and move forward with solid operating capabilities to share the Company's operating results with all shareholders.

I wish you
The best in all your endeavors and happiness and well-being of you and your loved ones!

Chairman and President
Liu, Po-Yuan