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Acquisitions

12 Months Ended

Dec. 31, 2024

Acquisitions

Acquisitions

25. Acquisitions

There was no acquisition occurred for the years ended December 2023 and 2024. Our acquisitions in the prior periods are listed below.

Transaction with one game development company (“Game Business”)

In February 2022, the Company signed an agreement to acquire all of the equity interests in Game Business with a total cash consideration of RMB800.0 million. Upon the completion of this transaction, the Group held 100% of equity interests in the Game Business, which became a consolidated subsidiary of the Group.

The consideration of acquisition of Game Business was allocated based on their fair value of the assets acquired and the liabilities assumed as follows:

		Amount				Amortization Period
		RMB in thousands
Net assets acquired			333,830
Intangible assets
—Non-compete clause			111,000				6 years
—Others			50,965				5 years
Deferred tax liabilities			(40,491	)
Goodwill			344,696
Total			800,000

Total purchase price comprised of:

		Amount
		RMB in thousands
Cash consideration			800,000

Goodwill arising from this acquisition was attributable to the Group’s strategy to expand its self-developed capacity in game development.

Other acquisitions

For the years ended with December 31, 2022, the Group completed several other acquisitions, to complement its existing business and achieve synergies. The acquired entities individually and in aggregate were not significant. The Group’s other acquisitions are summarized in the following table:

		For the Year Ended December 31,				Amortization Period
		2022
		Amount
		RMB in thousands
Net assets acquired			85,369
Intangible assets
—Brand			—				5 years
—Customer relationship			—				5 years
—Non-compete clause			9,000				6 years
—Others			61,000				1 to 10 years
Deferred tax liabilities			(17,500	)
Goodwill			42,131
Total			180,000

Total purchase price comprised of:

		For the Year Ended December 31,
		2022
		Amount
		RMB in thousands
Cash consideration			150,000
Share consideration			—
Fair value of previously held equity interests			30,000
Total			180,000

Pro forma results of operations for all the acquisitions have not been presented because they were not material to the consolidated statements of operations and comprehensive loss for the years ended December 31, 2022, 2023 and 2024 individually or in aggregate.

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- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805/tableOfContent

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- References

No definition available.

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