[Edaily Reporter An Yu-ri ] Wemade Co., Ltd.(112040)posted an operating profit of 26.4 billion won in the third quarter of this year, driven by revenue from the Chinese licensing of the “Legend of Mir 2 and 3” intellectual property (IP), despite a decline in game sales. Operating profit rose 0.3% year-over-year and returned to profitability compared to the previous quarter.

On the 11th, Wemade Co., Ltd. announced preliminary third-quarter results on a consolidated basis, reporting revenue of 146 billion won and an operating profit of 26.4 billion won. Revenue rose 35% from the second quarter (108.3 billion won), and the company returned to profitability after posting an operating loss of 21 billion won in the second quarter. Net income was 5.2 billion won, a 51% increase from the previous quarter.

The turnaround in earnings was driven by licensing revenue from the “Legend of Mir 2 and 3” IP in China. Even as revenue from existing games declined, the inclusion of new licensing revenue boosted quarterly revenue.

However, compared to the third quarter of last year, revenue decreased by 11%. The company stated that revenue from existing games in service had declined.

Wemade Co., Ltd. explained that reduced costs, such as personnel expenses and advertising and promotional expenses, boosted profitability. Net income fell 91% to 5.2 billion won this year from 57.4 billion won in the same period last year.

The key to future performance lies in the launch of new titles and the expansion of its business in China. Wemade Co., Ltd. is currently developing or preparing about 20 games, including “Night Crow W,” “Mir 5,” “Project TAL,” a new title based on the “HUNDRED NOTE” IP, “Project IL,” and “Project MO.”

Wemade Co., Ltd. and its affiliates, including Mad Engine, are collaborating on “Night Crow W,” which is targeting a Q2 2027 launch. The company is focusing on enhancing the game’s quality to appeal to a global user base. “Night Crow” received a foreign game license in China last June and is currently preparing for its local launch.

Meanwhile, Wemade Co., Ltd. is undergoing a change in its largest shareholder as Chairman Park Kwan-ho, the current largest shareholder, is strategically selling his stake. The 920 billion won stock sale transaction has been postponed from the originally scheduled October to December—two months later—due to a delay in the payment of the remaining 828 billion won. Wemade Co., Ltd. and its subsidiary, Wemade Max(101730), maintain that they will continue development of “Night Crow W” regardless of the change in majority ownership.