On November 1, 2021, Sanqi Interactive Entertainment (002555) announced: ICBC Credit Suisse, HSBC Jinxin Credit Suisse, Xingquan Fund, Wells Fargo Fund, China Europe Fund, Sequoia Capital, Boshi Fund, Southern Fund, Warburg Fund, Soochow Securities

, Tianfeng Securities, CICC, Shenwan Hongyuan, and Haitong Securities investigated our company on November 1, 2021.

The main contents of this survey: Q: In terms of new business, VR/AR has entered a new stage of development. What is the company’s layout in this new track? Q: Can you elaborate on some of the company’s overseas strategies? A: The company’s

The strategy is to select strategies, cards, simulated operations and other major categories in the big market that match one's own core competitiveness. The next step is to constantly try and make mistakes in the gameplay of the target category until the gameplay breaks through, and there will be a game that is easier to win in the local market.

Get popular gameplay, and then add some themes, IPs, etc. that are more acceptable in the local market to form a product matrix, thoroughly understand this category, and let most players in this category be placed in the game matrix.

Although the company's overseas business has paid some tuition fees in the past, the company's team is stable, which is the cornerstone of all strategy execution and can generate sufficient accumulation to make progress.

Q: From which platform did the accounts receivable in 3Q21 come from, and what is the account period? A: Mainly because the company’s overseas revenue share has increased a lot. In the first half of the year, the company’s overseas revenue accounted for 27.12%. Overseas channels iOS and Google Play both

There is a longer billing period, and growth mainly comes from these platforms.

Question: How is the company's category expansion in self-research? How to balance R&D investment? Answer: 1) Hope to improve the success rate of game R&D.

For example, in the MMO category, numerical values ??are unique. If research and development is carried out on this basis, the probability of success will be higher and the efficiency of research and development will be improved.

2) In the R&D system, the company began to increase the upgrading of public R&D resources, such as building a R&D center team, etc., to improve the effectiveness of R&D resources.

On this basis, the company hopes to maximize the efficiency of existing resources.

3) Customized products and agency products are important sources of products for Sanqi Interactive Entertainment. These products enhance Sanqi Interactive Entertainment’s product reserves and make the R&D ecosystem more diversified and denser.

This is not going to change for a long time.

Q: What is the company's overall overseas revenue target in the future? A: Overseas growth is relatively fast this year. The company's recent overseas ranking is fourth. We have high expectations for going overseas, but we have to do business in a down-to-earth manner.

Choose large categories in big markets such as Europe, America, Japan and South Korea, and continue to do it thoroughly, and finally form a product matrix in each category.

Overseas turnover has increased significantly this year and is still in the climbing period.

The company has abundant overseas product reserves and hopes to further increase its revenue levels and market share in different markets and categories.

Q: Will we consider more global overseas native IP in the future? A: The company continues to look at overseas native IP. If there are open-ended play methods and gameplay in large markets such as Europe, America, Japan and South Korea, it can be combined with local themes and IP.

, will cooperate with these IP providers.

IP has a bonus effect, but ultimately it must serve the gameplay and style of the game itself.

Q: What is the competitive environment when looking for developers for the company’s overseas business? What competitive advantages are generally used to reach cooperation with developers? A: The company has been doing business overseas for a long time, especially its own products and customized products are available overseas.

Not a bad performance.

Overseas, the understanding of categories, users, markets, channels, etc. is very advanced in China, so it has a strong competitive advantage.

In addition, during the process of developers making products, the company will have in-depth exchanges with developers and obtain market feedback in advance, which can greatly improve the success rate of game development and prevent them from working behind closed doors.

Finally, the gaming industry’s recognition of Sanqi is also a huge plus.

Q: What is the company’s current category proportion structure? A: The proportion of the MMO category in the entire market is declining, while other categories are increasing.

As the company's overseas sales continue to increase, MMO is not a big category for overseas markets, and MMO may drop further.

Sanqi Interactive Entertainment’s main business includes the research and development, distribution and operation of mobile games and web games.