Regulatory freeze on new games compounded difficulties at Xiamen-based Feiyu, which saw revenue drop 37%.
— SCMP
Last year was a lean year for China’s gaming industry because of a freeze on approvals of new titles. The impact was especially pronounced for smaller developers like Feiyu Technology. The Hong Kong-listed games developer saw its revenue plunge 37% to 83.3 million yuan last year, the lowest level since its initial public offering four years ago, according to its filing to the stock exchange. The company made a net loss of 107.5mil yuan
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