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WinkingStudios
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For_The_Next_Leg
Veteran |
20-Feb-2025 10:11
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This is the Shanghai Mineloader business - I somehow think business and revenue will double from here.
https://www.mineloader.com/#clients
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For_The_Next_Leg
Veteran |
13-Feb-2025 20:19
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What results are you expecting? I believe there will be significant growth in view of the M& A that was done previously!
https://www.invest-alpha.sg/view& id=589
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Joelton
Supreme |
13-Feb-2025 09:28
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Winking Studios: Notice of Results & Investor Presentation
Winking Studios Limited (AIM / SGX:WKS), one of Asia' s largest AAA game art outsourcing studios and an established game development company, will announce its results for the year ended 31 December 2024 on Thursday 27 February 2025.
Winking Studios&rsquo management team will host an online presentation and Q& A open to all investors and analysts on the day at 9:00am GMT/5:00pm SGT.
https://www.invest-alpha.sg/view& id=589
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For_The_Next_Leg
Veteran |
07-Jan-2025 22:48
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I see Winking doing the same thing - expanding for talent and using technology to create efficiencies.
https://www.bain.com/insights/how-video-game-companies-can-evolve-operating-models-for-growth-gaming-report-2024/
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For_The_Next_Leg
Veteran |
30-Dec-2024 22:17
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An article that confirm my belief that AI will help gaming studios and not make them worse off.
https://www.calcalistech.com/ctechnews/article/a93433zg4
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Joelton
Supreme |
26-Dec-2024 10:20
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Winking Studios: World&rsquo s 4th Largest Game Art Studio Powers Up for Growth (LSE stock price closed at 24 pence)
Gaming has significantly gained more popularity as a form of entertainment in the digital era. In 2023, the global gaming industry reached a staggering $396.2 billion, compared to the movie industry&rsquo s $283.5 billion and the music industry&rsquo s $69.2 billion.
According to HTF Market Intelligence, the game outsourcing services sector is predicted to experience a mind-blowing CAGR of 31.9% between 2024 and 2030. This translates to a market size increase of a jaw-dropping US$32.2 billion by 2030.
This forecast highlights the immense potential and lucrative opportunities within the game outsourcing service sector.
Notably, it was recently reported that one of European largest PE conglomerate, EQT, is in advanced talks to takeover the world&rsquo s largest gaming services group, AIM-listed Keywords Studios, for S$3.8 billion.
With the skyrocketing demand for services outsourcing in the gaming industry, this is the perfect timing for the world&rsquo s 4th largest game art studio (Asia&rsquo s 3rd largest gaming art studio) &ndash Winking Studios to make their mark.
About Winking Studios Limited
Headquartered in Singapore and recently listed on the Singapore Stock Exchange in November 2023, Winking Studios is one of the world&rsquo s largest game art outsourcing and game development studio.
With over 25 years of experience, the Group provides a complete of end-to-end art outsourcing and game development services across various platforms for the video games industry.
Winking Studios operates a network of eight studios strategically positioned in Nanjing, Shanghai, and Taipei. Their workforce of over 800 employees is heavily weighted towards talented designers and artists, allowing them to foster strong relationships with 21 of the top 25 game developers worldwide (such as Activision, NetEase Games, Nexon, NC Soft, Ubisoft, Tencent Games, Nintendo) over the past two decades, leveraging its reputation and connections to secure new projects.
On top of that, a notable strength of Winking Studios is its majority 59% ownership by Acer Group. This strategic shareholding brings about significant advantages due to Acer Gaming&rsquo s established industry relationships and strengthens Winking Studios&rsquo ability to deliver top-tier services to clients around the world.
Financial Performance
Winking Studios&rsquo revenue breakdown shown above demonstrates a balanced geographic distribution. While mainland China and Hong Kong contribute 41% of total revenue, the remaining revenue is spread relatively evenly across Taiwan, Korea, and the United States.
Next up, Winking Studios boasts a strong track record of revenue growth where it more than doubled from US$14.5 million in FY2020 to US$29.3 million in FY2023. This translates to a compound annual growth rate (CAGR) of 26.4%.
This impressive growth coincides with a significant increase in their workforce, with the number of employees expanding from 354 to 652 during the same period (CAGR of 22.6%), mirroring the booming APAC game art outsourcing market, which has witnessed a CAGR of 23.0%.
It is worth noting that with more employees, their revenue has increased correspondingly and it is aligned with the Group&rsquo s business strategy to accelerate their expansion via M& A activities.
Winking Studios possesses a strong cash position thanks to a 171.1% increase in cash and cash equivalents, primarily fuelled by their recent IPO. This healthy financial standing is further bolstered by the growth in trade receivables reflecting increased business activities and rising contract assets due to revenue expansion.
Despite a modest 8.4% increase in liabilities, it&rsquo s important to note the company has no borrowings at all! This solid financial foundation positions Winking Studios well for future growth and the ability to pay dividends &ndash which they recently announced a special dividend of 0.5 Singapore cents for FY2023.
Growth Prospects
Looking ahead, Winking Studios is focusing on growth both organically and via opportunistic acquisitions.
For the former, they aim to further expand their talent pool and actively explore the use of artificial intelligence (AI) to improve operational efficiency.
As for the inorganic growth, Winking Studios has been actively pursuing its acquisition strategy since its IPO as illustrated below:
All these, combined with planned expansion and upgrades to regional offices and supporting infrastructure, will help Winking Studios capitalize on the projected CAGR of 14.4% for APAC game art outsourcing between 2023 and 2027 (as per a China Insights Consultancy report).
Valuation
According to Bloomberg, Keywords Studios PLC (KWS LN) stands out as the undisputed leader in the game art outsourcing market with an extensive network spanning over 25 countries with more than 70 studios, employing a massive workforce of over 12,000 people worldwide.
Thus, this makes it the most relevant comparison for Winking Studios.
However, we also have other peers like Toei Animation Limited &ndash which I often recall as the anime-focused studio, Reallusion and Pole to Win Holdings.
With that in mind, when we compare their forward P/E ratio, we can see that Winking Studios is expected to be the cheapest among the 5 of them with a decent 27.7% expected earnings growth rate.
Conclusion
The video game industry is booming, and the demand for game art outsourcing is expected to rise alongside it.
This bodes well for Winking Studio&rsquo s future growth potential &ndash and KGI Securities and UOB Kay Hiay has recently initiated coverage with 47 cents and 35 cents target price respectively, reflecting their bullish sentiment.
Accelerating their growth plans ahead, the Group has announced a S$27 million share placement exercise and in addition, the Group has completed their dual listing plans on the AIM market of the London Stock Exchange.
With Keywords Studios being acquired by EQT at a valuation of S$3.8 billion (close to 100 times PE), it seems logical that Winking Studio is pursuing an AIM listing. It would also appear that their M& A playbook is similar to Keywords Studios.
In addition, Winking Studios has demonstrated a consistent record of profitability, complemented by a strong balance sheet and operates in a promising industry with a strong backer &ndash Acer Group.
If the team at Winking Studios execute their plans accordingly in the next few years, it looks like SGX may have a global, market-leading, billion-dollar market cap Company on its bourse.
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For_The_Next_Leg
Veteran |
23-Dec-2024 19:07
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Interesting - A potential profit boom. " ...Revenue is expected to rise around 15 per cent to $38m (around £ 30m) between now and 2026, while profits are forecast to soar from $700,000 to almost $4m, and more will follow in later years. It is also willing to pay dividends, starting with 1 percent next year but increasing steadily as the business grows..."
https://whatsnew2day.com/midas-share-tips-video-game-company-winking-studios-has-its-sights-set-on-a-profit-boom/#google_vignette
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Joelton
Supreme |
17-Dec-2024 08:59
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Winking Studios closed UP at 23 pence today, which is about 39 SGD cents (last traded on SGX at 29.5 cents)
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Joelton
Supreme |
01-May-2024 13:54
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KGI initiates Winking Studios with &lsquo outperform&rsquo with S$0.47 target price (non-diluted)
It is positive on the company&rsquo s FY2023 financials which &lsquo exceeded expectations with robust performance growth&rsquo
KGI Securities has started coverage on Winking Studios : WKS 0% with an &ldquo outperform&rdquo rating on the notion that the Acer-backed game-art outsourcing company is poised to expand its market share.
In a report on Monday (Apr 29), analyst Alyssa Tee said she anticipated Winking&rsquo s top and bottom line to be driven by growth in the gaming market across various regions, as well as the company&rsquo s inorganic expansion plans.
The company on Apr 10 announced plans to raise up to S$27 million by placing out new shares at S$0.25 apiece.
Assuming all 108 million shares are placed out, KGI has a discounted cash flow-derived price target of S$0.34 post-full dilution, and S$0.47 on pre-dilution assumptions.
Tee said the implied valuation is based on &ldquo conservative assumptions&rdquo including a cost of equity of 12 per cent and a 2 per cent terminal growth rate.
The analyst is positive on Winking&rsquo s FY2023 financials which &ldquo exceeded expectations with robust performance growth&rdquo .
In her view, revenue growth for the fiscal year was &ldquo impressive&rdquo overall, with the game development segment witnessing a &ldquo remarkable&rdquo year-on-year surge, due to expanded business operations with existing clients and the acquisition of projects from new customers.
Tee also sees the group&rsquo s improved gross profit margins as an indicator of enhanced operational efficiency and profitability.
She, however, remained cognisant of an uptick in operating expenses related to the company&rsquo s recent initial public offering.
&ldquo Despite these increased expenditures, Winking&rsquo s strong revenue growth and improved gross profit margins underscore its overall financial health and strategic trajectory,&rdquo noted the analyst.
&ldquo As the company progresses with its expansion plans and experiences enhanced revenue growth driven by the expansion of its art outsourcing segment and increased sales from its business development team, we anticipate this positive trend to persist and reflect in the FY2024 revenue figures.&rdquo
KGI projects Winking to turn in an FY2024 revenue of about US$37 million, bringing its profit after tax and minority interests for the full year to US$3.9 million.
Dividend per share for the period is projected to come in at S$0.006, translating to a dividend yield of 2.4 per cent.
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Alignment
Master |
27-Apr-2024 17:25
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Waste of money - AIM does not have a strong investor base, let alone this is a secondary listing. UK listed companies are gradually fleeing to New York. Singaporean companies are behind the times if they think AIM will provide anything useful. |
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Joelton
Supreme |
27-Apr-2024 12:03
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Winking Studios eyes secondary listing on London Stock Exchange' s AIM
Winking Studios WKS 0.00% has proposed a secondary listing on the London Stock Exchange&rsquo s (LSE) sub-market AIM to boost its European presence in the global gaming industry.
The company says that the proposed AIM listing will provide an additional quoted platform for its securities to be traded via an established stock exchange in Europe, while enabling the company to gain access to a diversified base of shareholders and investors comprising new institutional and private investors in the UK and Europe.
This has the potential to allow the company greater flexibility to access the capital markets in these regions to conduct fundraising and other strategic investment exercises, such as potential merger and acquisition opportunities should they arise, says Winking Studios.
With a wider and more diversified shareholder base, the company also hopes to improve the trading liquidity of its securities on its trading platforms. The company may also seek to raise additional capital from investors at the time of the secondary listing.
Winking Studios adds that it believes a dual listing presents an excellent opportunity to increase the market visibility and profile of the group globally, as well as to enhance the company' s corporate branding and reputation with existing and new clients.
The company has appointed Strand Hanson as its financial adviser and nominated adviser in the UK in relation to the proposed AIM listing, and is in the process of appointing other professional advisers, including legal counsel, for the purpose of advising on the secondary listing.
As at April 26, preparatory work for the proposed AIM listing is on-going and no application has been made to any regulatory authorities, including the LSE or the Singapore Exchange S68 -0.32% Securities Trading (SGX-ST) in connection with the dual listing.
Winking Studios says it will continue to keep shareholders updated and release announcements relating to the proposed AIM listing when relevant.
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Joelton
Supreme |
11-Apr-2024 14:01
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Winking Studios to raise $27 million via placement of new shares at 25 cents each
Newly listed Winking Studios plans to raise up to $27 million via a placement of new shares at 25 cents each.
The placement, which will be managed by PrimePartners Corporate Finance, is backed by its indirect controlling shareholder, Acer Group of Taiwan, which holds around 60% of Winking Studios.
According to the company on April 10, it plans to issue up to 108 million shares. A group of Acer entities will subscribe for at least 64.8 million new shares worth $16.2 million.
The Acer group of entities will also take up the other placement shares if there are no other takers.
At 25 cents each, the placement shares are priced at a 1% discount to the volume weighted average price (VWAP) of 25.24 cents as of April 9 and a discount of 4.6% off the VWAP of 26.2 cents for the past 7 trading days.
Assuming all shares are spoken for, the company' s share base will increase by more than a third to 387.7 million shares.
According to Johnny Jan, executive chairman and CEO of Winking Studios, this placement exercise will help fund " corporate actions" such as acquisitions, alliances and joint ventures so as to grow its market share and enlarge its customer base.
The newly raised funds will also help beef up its capabilities including use of AI.
Just on April 8, Winking Studios announced plans to acquire Malaysian art and animation outsourcing company Pixelline Production.
It has entered into a non-binding memorandum of understanding (MOU) with Pixelline&rsquo s owners Lee Jie Way and Beh Yit Xian for the proposed acquisition, with the price tag not yet finalised.
On a pro forma basis, the company' s NTA per share will increase from 10 cents to 14.1 cents, and its EPS will dip from 0.98 cents to 0.68 cents.
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SmallSmall
Supreme |
10-Apr-2024 19:23
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Placement 108 mil shares @ $0.25. Acer steady minimum will take up 64.8mil and if no other takers for the balance they will take all 108 mil to increase their stake to 70% ! So confident ah Acer. |
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Joelton
Supreme |
09-Apr-2024 09:49
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UOBKH initiates coverage on Winking Studios with &lsquo buy&rsquo
UOB Kay Hian (UOBKH) has initiated coverage on Acer-backed game art outsourcing company Winking Studios with a &ldquo buy&rdquo call and a target price of S$0.35.
Given a booming game art outsourcing industry and the group&rsquo s international brand recognition, analyst Heidi Mo expects the group to experience revenue growth at 8.8 per cent three-year compound annual growth rate (CAGR), as well as 9.4 per cent three-year CAGR for core earnings for 2024 to 2026.
She said that the group, supported by a healthy operating cash flow and Acer Gaming&rsquo s strong backing, will also continue to achieve inorganic growth via acquisitions.
The brokerage, in an Apr 4 report, pegged the S$0.35 target at 17 times its FY2024 earnings estimates, a &ldquo conservative&rdquo valuation as it implies a 35 per cent discount compared with its peers&rsquo average.
Mo noted that the stock is &ldquo severely undervalued&rdquo , given that the counter&rsquo s closing price of S$0.265 on Apr 4 implied an adjusted valuation of 13 times the 2024 earnings forecasts, a &ldquo significant&rdquo discount of 50 per cent to its peers&rsquo average.
&ldquo We think the market has overlooked Winking Studios&rsquo strong performance to date and upcoming growth prospects,&rdquo said Mo, noting that its core earnings more than doubled in 2023 compared with 2020, representing a three-year CAGR of 35.4 per cent. She also emphasised that the group outperforms its peers with higher net margins.
&ldquo With new customers being onboarded, the integration of On Point Creative, and strong backing from Acer Gaming, we have a positive outlook on Winking Studios&rsquo performance.&rdquo
Mo highlighted that while the group&rsquo s allocated initial public offering (IPO) proceeds have been utilised for the acquisition of art outsourcing service provider On Point Creative, she believes its strong operating cash flow should support future mergers and acquisitions opportunities.
Winking Studios&rsquo operating cash flow grew from US$1.8 million in 2020 to around US$3.4 million in 2023. Upon excluding IPO expenses of about US$2 million, actual operating cash flow tripled to US$5.4 million in 2023.
The analyst also noted strong support from the group&rsquo s majority stakeholder Acer Gaming, which on Mar 24 raised its deemed interest in Winking Studios to 59.6 per cent.
On Feb 25, Winking Studios posted a 15.5 per cent drop in net profit for second half year ended Dec 31, 2023, to US$453,000, despite a 15 per cent rise in revenue. This was due to higher sales cost, as well as distribution and marketing expenses led by more aggressive market expansion strategies.
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SmallSmall
Supreme |
05-Apr-2024 09:04
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INITIATE COVERAGE Winking Studios (WKS SP) BUY | Price/Tgt: S$0.265/S$0.350 | Mkt Cap: S$74.1m Levelling Up In The Dynamic World Of Game Art Winking Studios has established itself as one of the leading game art outsourcing studios globally with over 25 years of experience. As demand for game art outsourcing is expected to rise with the surge in game popularity, we expect the group&rsquo s 2024-26 core earnings to grow 8-12%. Supported by its healthy operating cash flow and Acer Gaming Inc&rsquo s strong backing, we think the group will also continue to achieve inorganic growth via acquisitions. Initiate coverage with BUY. Target price: S$0.35. · Leading game art outsourcing studio with strong track record. With a 25-year track record of delivering end-to-end art outsourcing and game development services for the gaming sector, Winking Studios is the third-largest game art outsourcing studio in Asia and fourth largest globally. Some 82% of its revenue is derived from art outsourcing, where environment and characters are designed for games. Through its long-term working relationships with 19 of the top 25 game companies worldwide, it has been involved in internationally-renowned and award-winning projects like Assassin&rsquo s Creed and Genshin Impact. As of 31 Mar 24, Winking Studios operates seven studios in Nanjing, Shanghai and Taipei with over 700 employees, including 600 designers and artists. · In strong position to capitalise on booming game art outsourcing industry. To date, Winking Studios&rsquo portfolio consists of over 1,400 and 25 completed art outsourcing and game development projects respectively. This is expected to grow exponentially on the back of higher demand for game art outsourcing services, driven by a staggering surge in the popularity of games. Per China Insights Industry Consultancy, the market size of the global game art outsourcing market by revenue in 2022 was US$3.4b, and is expected to grow at a five-year CAGR of 13.4% to US$6.3b in 2027. Given Winking Studios&rsquo strong international brand recognition for quality work and services, we expect the group to experience healthy growth in revenue to US$32.4m-37.7m (three-year CAGR of 8.8%) and core earnings to US$4.3m-5.0m (three-year CAGR of 9.4%) respectively for 2024-26. · Ample headroom to grow via acquisitions with strong backing by Acer Gaming and robust cash flow. Winking Studios&rsquo growth strategy is to pursue synergistic acquisitions and broaden its customer base, aiming to strengthen its global market presence. Its recent acquisition of On Point Creative Co, a Taiwan-based art outsourcing studio, is a testament to its growth strategy. We think Winking Studios&rsquo strong operating cash flow, which upon excluding US$2m of IPO expenses tripled to US$5.4m in 2023, will help support future acquisition opportunities. Moreover, the group has strong backing from major shareholder Acer Gaming Inc, which recently raised its deemed interest to 59.59% in Mar 24. Management remains on the lookout for suitable opportunities, and we expect Winking Studios to continue achieving inorganic growth through strategic acquisitions. · Initiate coverage with BUY and a target price of S$0.35, pegged to 17x 2024F PE. We think Winking Studios deserves a rerating, given the group&rsquo s strong performance to date and growing talent and customer base. The stock is trading at 13x 2024F PE, at around a 50% discount to its peers&rsquo average of 27x 2024F PE. |
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SmallSmall
Supreme |
25-Mar-2024 14:03
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Another big married trade @ $0.20 today totalling 14.8 mil shares. Likely to be Acer increasing its stake from 59.59% to 64%. Interesting counter. Could be a multi-bagger in the making as their profits are increasing from a very low base |
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SmallSmall
Supreme |
20-Mar-2024 11:20
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The only IPO that is trading above water. High goes higher while low goes lower Acer raises stake in Winking Studios reflecting confidence in its prospects &bull Acer&rsquo s deemed interest in the Group to increase to 59.59% post-transaction. SINGAPORE, 18 March 2024 &ndash In a move reflecting its confidence in Winking Studios Limited (&ldquo Winking Studios&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ), Acer SoftCapital Incorporated (&ldquo Acer Soft&rdquo ), a wholly owned subsidiary of the Company&rsquo s controlling shareholder, Acer Incorporated (&ldquo Acer&rdquo ), has entered into separate conditional Share Purchase Agreements (&ldquo SPA&rdquo ) on 7 and 15 March 2024 to acquire a total of 18,730,476 shares in the Company. The two (2) married deals, which involved the Company&rsquo s shareholders Cathay Venture Inc, and Taiwan Cooperative Venture Capital Corporation, are carried out at a total consideration of approximately S$3.7 million. Following the completion of both SPAs, Acer&rsquo s total deemed interest in the Company will increase to 59.59%, further cementing its position as the controlling shareholder of Winking Studios, which is Asia&rsquo s third largest1 game art outsourcing studio. Executive Chairman and Chief Executive Officer, Mr Johnny Jan (詹 承 翰 ) said, &ldquo Acer&rsquo s move underscores its ongoing commitment and confidence in our Company&rsquo s growth potential. The current challenges in the gaming industry have accelerated a shift towards art outsourcing as the ideal solution for game developers to control costs while maintaining the quality of their game graphics. We are very encouraged by Acer&rsquo s strong backing. Not only does it put us in a strong position to capitalise on these trends but it also paves the way for us to explore opportunities that will enhance our competitive edge in end-to-end art outsourcing and game development services.&rdquo The Group registered healthy topline growth across its business segments in its recent financial year ended 31 December 2023, as announced in its latest results announcement. Following a slight pullback in the gaming industry post-Covid-19 the market is set to recover by 2.8% to US$189.3 |
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Joelton
Supreme |
26-Feb-2024 09:51
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Winking Studios posts 15.5 per cent drop in net profit for H2 FY23
Full-year net profit up 71.6 per cent to US$1.8 million group proposes S$0.005 per share special dividend
ACER-BACKED Winking Studios, which provides art outsourcing and game development services for the video game industry, has posted a 15.5 per cent drop in net profit for the six months ended Dec 31, 2023 to US$453,000.
In the corresponding period of the previous year, the group recorded a net profit of US$536,000.
The company, which debuted on Singapore&rsquo s Catalist board in November last year, posted revenue of US$15.1 million in H2 FY23, up 15 per cent from the year-ago period.
Cost of sales rose 10.8 per cent to US$10.2 million. Distribution and marketing expenses increased by 44.3 per cent to US$941,000. This was mainly due to the company&rsquo s more aggressive marketing and distribution activities aimed at expanding market share and sales volume. The moves included adding more sales personnel and promotional activities aimed at venturing into markets such as Europe, America and Asia.
Administrative expenses increased by 37.7 per cent to US$3.9 million. This was largely due to the various initial public offering (IPO) related expenses incurred during the company&rsquo s listing in Singapore.
For the full year, the group posted a 71.6 per cent increase in net profit to US$1.8 million, with a 19.5 per cent expansion in revenue to US$29.3 million.
The group has proposed a special cash dividend of 0.5 Singapore cent per share for FY23.
Winking Studios said in a filing on the Singapore Exchange on Saturday (Feb 24) that in line with its strategic focus on geographic diversification and expanding revenue streams, it achieved significant performance recovery in 2023. This was fuelled by securing new contracts and expanding its client base in the United States and South Korea. &ldquo Notably, the US contributed 16.8 per cent of total revenue in FY2023, a marked increase from 9.7 per cent in FY2022,&rdquo it added.
Johnny Jan, Winking Studios&rsquo executive chairman and chief executive officer, said: &ldquo With our established reputation, cutting-edge capabilities, and close partnership with long-standing customers, and funds from our recent IPO to finance our growth plans, I believe we are well positioned to further expand our market share both regionally and globally.
&ldquo We are actively exploring potential strategic acquisitions and continuous investments in technology, particularly in artificial intelligence technology to further strengthen our competitive edge.&rdquo
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Everyday
Elite |
24-Feb-2024 13:47
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Newly-listed Winking Studios Limited off to a good start with first set of results showing 71.6% jump in FY2023 net profit &bull Net profit of US$1.8 million was on the back of 19.5% revenue growth in FY2023 to US$29.3 million due to higher contribution from Art Outsourcing and Game Development business segments Proposes a special cash dividend of 0.5 Singapore cents per share for FY2023 Plans to further expand market share and enhance competitive edge through strategic acquisitions and investment in technological capabilities https://links.sgx.com/1.0.0/corporate-announcements/PXD0AC72XWIFHQZK/47eeda5eb5f541a88dc12ea12a45deed10d731be445567d3896840e10ed31ec0 |
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Joelton
Supreme |
29-Dec-2023 08:42
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Winking Studios to acquire On Point Creative for S$2.6 million
WINKING Studios has inked a sale and purchase agreement to acquire Taiwan-based On Point Creative for NT$59.9 million (S$2.6 million), it announced on Thursday (Dec 28).
On Point Creative is a design studio specialising in art outsourcing services, and is a wholly owned subsidiary of Game Hours which is listed on the Taipei Exchange.
Winking Studios&rsquo move is in line with the company&rsquo s business strategy to pursue acquisitions to boost sales, capabilities and its market presence globally, it said. The acquisition will be funded by internal resources as well as proceeds from the placement and cornerstone tranche of its recent listing.
Completion should take place before Mar 31, 2024. The acquisition is not expected to have a material impact on Winking Studios&rsquo earnings or net tangible assets per share.
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