Total revenue grew +7% YoY to RMB28.8bn, 1% above consensus. Core onlinegame grew 15% YoY to RMB23.4bn, 5%/ 2% beat consensus/ BOCIe. PC andmobile game revenue delivered +85% YoY/ -4% YoY respectively, 0%/ 3%ahead of BOCIe. Marvel Rivals, Where Winds Meet, Blizzard games and Naraka:Bladepoint contributed to skyrocketed PC game revenue. GPM expanded bothYoY/ QoQ to 64.1%, 61.8% above consensus. Along with disciplined opexespecially S&M (down -33% YoY/ -4% QoQ), operating profit grew 37% YoYwith 36.2% OPM, si ...