股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 公司名稱: 中國儒意控股有限公司 呈交日期: 2025年11月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00136 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.02 | HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 China Ruyi Holdings Limited 中 國 儒 意 控 股 有 限 公 司 （ 於百慕達註冊成立之有限公司） （股份代號：136） 訂立有關根據一般授權發行新股份之第三份補充協議 茲提述(i)中國儒意控股有限公司（「本公司」）日期為二零二五年八月一日的公告，內容有關 根據一般授權發行新股份；(ii)日期為二零二五年八月十八日的公告，內容有關根據一般授 權發行第一批認購股份；(iii)日期為二零二五年九月十二日的公告，內容有關訂立認購協議 及配售協議之第一份補充協議；及(iv)日期為二零二五年九月二十四日及二零二五年十月十 日的公告，內容有關訂立認購協議及配售協議之第二份補充協議（ 統稱「該等公告」）。除另 行界定者外，本公告所用詞彙與該等公告所界定者具有相同涵義。 第三份認購補充協議及第三份配售補充協議 於二零二五年十一月六日（ 交易時段前 ），本公司與認購方訂立認購協議之第三份補充協 ...

Group 1 - The core viewpoint of the report is that China Ruyi (00136) is given a "recommended" rating, with projected adjusted net profits of 2.157 billion, 2.447 billion, and 2.850 billion yuan for 2025-2027, corresponding to PE ratios of 19, 16, and 14 times respectively [1] - The company is expected to benefit from the AI wave reshaping content production and distribution, positioning itself as a new leader in the film and television industry [1] - The company has strong capabilities in high-quality content development and production, with a focus on premium IP development and collaboration with major domestic video platforms while also expanding into overseas markets [1] Group 2 - The gaming business maintains high-level growth through strategies such as premium operation, deepening synergy between film and games, and AI-enabled efficiency improvements [2] - Investment and mergers and acquisitions are crucial for the company in becoming an industry leader, focusing on core sectors such as the acquisition of Wanda Film for strategic synergy and investment in 52TOYS for IP derivative business [2] - The company has initiated a 30% stake acquisition in Kuaiqian to deepen its "culture + technology + finance" strategic layout [2]

Group 1 - The core viewpoint of the report is that China Ruyi (00136) is given a "recommended" rating, with projected adjusted net profits of 2.157 billion, 2.447 billion, and 2.850 billion yuan for 2025-2027, corresponding to PE ratios of 19, 16, and 14 times respectively [1] - The company is expected to benefit from the AI wave reshaping content production and distribution, positioning itself as a new leader in the film and television industry [1] - The company has strong capabilities in high-quality content development and production, with a focus on premium IP development and collaboration with major domestic video platforms while also expanding into overseas markets [1] Group 2 - The gaming business maintains high-level growth through strategies such as premium operation, deepening film-game synergy, and IP commercialization [2] - The company has made strategic investments and acquisitions, including Wanda Film (002739) to achieve full-process integration from content creation to terminal screening [2] - The acquisition of a 30% stake in Kuaiqian is part of the company's strategy to deepen its "culture + technology + finance" layout [2]

Group 1 - The report by Haitong International initiates coverage on China Ruyi (00136) with an "Outperform" rating and a target price of HKD 4.50, highlighting its potential to become "China's Netflix 2.0" [1] - China Ruyi operates across a wide range of sectors including content production and distribution, online streaming (Pumpkin Movies), cinema exhibition (Wanda Films), online gaming (Jingxiu Games), and IP derivatives, showcasing its comprehensive business layout [1] - The company has created and invested in over 100 film copyrights, achieving a cumulative box office of approximately RMB 40 billion, with projected total revenues of RMB 3.7 billion and RMB 2.2 billion for FY2024 and the first half of FY2025, respectively [1] Group 2 - Pumpkin Movies, as China's largest pure subscription-based streaming platform, focuses on content quality and personalized recommendations for paid users, boasting around 99.3 million registered users and 38.1 million paying users by June 2025 [2] - The gaming segment has become the largest revenue source for the company, contributing 55% of total revenue in the first half of 2025, with a nearly 500% compound annual growth rate from 2022 to 2024, supported by Tencent and various acquisitions [2] - Haitong International predicts adjusted net profits for China Ruyi to reach RMB 2.42 billion, RMB 2.63 billion, and RMB 2.73 billion from 2025 to 2027, based on a PEG valuation method referencing an industry average PEG of 0.8 and a 30% compound annual growth rate in net profit [2]

Group 1 - The core viewpoint of the report is that China Ruyi (00136) is positioned as a market leader in the Chinese film and television industry, with the potential to develop into a "Chinese version of Netflix 2.0" [1] - The company has a broad business layout covering content production and distribution, online streaming (Pumpkin Movies), cinema operations (Wanda Films), online gaming (Jingxiu Games), and IP derivatives [1] - China Ruyi has created and invested in over 100 film copyrights, with a cumulative box office of approximately 40 billion RMB [1] Group 2 - For the fiscal years 2024 and the first half of 2025, the company's total revenue is projected to be 3.7 billion RMB and 2.2 billion RMB, respectively, with adjusted net profits expected to grow significantly to 1.25 billion RMB and 1.3 billion RMB [1] - The company employs a "producer-centered system" that allows for strong control over content themes, production, and quality, successfully launching several high-grossing films [1] - Through its stake in Wanda Films, China Ruyi has enhanced its cinema operation capabilities and secured valuable pre-release investment windows for films, further solidifying its advantages in content investment and distribution [1] Group 3 - As the largest pure subscription-based streaming platform in China, Pumpkin Movies focuses on content quality and personalized recommendations for paying users, boasting approximately 99.3 million registered users and 38.1 million paying users by June 2025 [2] - The gaming business has become the largest revenue source for the company, contributing 55% of total revenue in the first half of 2025, with a nearly 500% compound annual growth rate from 2022 to 2024 [2] - The company is on a path to build a high-quality exclusive content library similar to Netflix, serving both online users through Pumpkin Movies and offline users through Wanda Films [2] Group 4 - The adjusted net profits for China Ruyi are forecasted to reach 2.42 billion RMB, 2.63 billion RMB, and 2.73 billion RMB for the years 2025 to 2027 [2] - The target price of 4.50 HKD is derived using the PEG valuation method, referencing the industry average PEG level of 0.8 times and the company's 30% compound annual growth rate in net profit [2]

China Ruyi Holdings Limited 中 國 儒 意 控 股 有 限 公 司 （ 於百慕達註冊成立之有限公司） （股份代號：136） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 有關訂立有關根據一般授權發行新股份之 第二份補充協議之補充公告 茲提述中國儒意控股有限公司（「本公司」）日期為二零二五年八月一日就根據一般授權發行 新股份的公告、二零二五年九月十二日就訂立有關根據一般授權發行新股份之第一份補充 協議的公告及二零二五年九月二十四日就訂立有關根據一般授權發行新股份之第二份補充 協議的公告（「該等公告」）。除另行界定者外，本公告所用詞彙與該等公告所界定者具有相 同涵義。 本公司謹此提供有關認購事項的以下額外資料。 Infini Global Master Fund（「基金」）乃認購方管理的聲譽良好的國際多策略基金。基金具有廣 泛多元的投資組合，包括於香港及全球市場上市公司的股權投資。據本公司了解，作為一 家聲譽良好的國際多策略基 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國儒意控股有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00136 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.02 | HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.02 | HKD | | 2,000,000,000 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 China Ruyi Holdings Limited 中 國 儒 意 控 股 有 限 公 司 （ 於百慕達註冊成立之有限公司） （股份代號：136） 訂立有關根據一般授權發行新股份之第二份補充協議 茲提述中國儒意控股有限公司（「本公司」）日期為二零二五年八月一日就根據一般授權發行 新股份的公告及二零二五年九月十二日就訂立有關根據一般授權發行新股份之第一份補充 協議的公告（「該等公告」）。除另行界定者外，本公告所用詞彙與該等公告所界定者具有相 同涵義。 於二零二五年九月二十四日，本公司與認購方訂立認購協議之第二份補充協議（「認購補充 協議二」），並與配售代理訂立配售協議之第二份補充協議（「配售補充協議二」）。認購補充 協議二及配售補充協議二的主要條款如下： – 1 – 1. 各方同意將第二批認購股份（ 910,000,000股認購股份 ）分為兩批配發及發行（ 分別為「第 二A批認購事項」及「第二B批認購事 ...

Core Insights - China Ruyi has received a significant boost with Sunshine Insurance and its affiliates increasing their stake by 40 million H-shares, valued at approximately HKD 113 million, indicating strong investor confidence [1] - The inclusion of China Ruyi in the FTSE China Large Cap Index is a landmark event, reflecting international capital recognition and is expected to enhance the company's value [1][2] Group 1: Index Inclusion Benefits - Inclusion in the FTSE China Large Cap Index brings substantial benefits such as increased liquidity and valuation levels, as FTSE Russell is a leader in the global index industry with around USD 20 trillion in assets benchmarked to its indices [1] - The index's focus on large-cap stocks with high liquidity and industry leaders provides a strong endorsement of China Ruyi's market position and competitive strength, which is likely to positively influence its stock price and attract quality capital [2] Group 2: Financial Performance - In the first half of the year, China Ruyi reported robust financial performance with revenue of CNY 2.206 billion, a year-on-year increase of 20%, and a net profit of CNY 1.228 billion, marking a turnaround from losses [3] - The adjusted net profit reached CNY 1.303 billion, reflecting a significant year-on-year growth of 140%, indicating a notable improvement in profitability and sustainable growth potential [3] Group 3: Business Segments and Growth Drivers - China Ruyi's core business segments are driving growth, with a focus on high-quality content production and diversified strategies in film and television, leading to strong audience engagement and revenue generation [4] - The gaming segment, particularly the "JINGXIU" brand, achieved revenue of CNY 1.21 billion, a 40% increase year-on-year, highlighting its role as a key growth engine [5] - Innovative product strategies and collaborations in the gaming sector have resulted in significant market success, with new titles achieving top rankings and substantial revenue [6] Group 4: Technological Integration - The integration of AI technology across various business lines is enhancing operational efficiency and product experience, exemplified by advancements in gaming that improve modeling efficiency by approximately 70% [7] - The overall industry environment is improving, with policy support in the film and television sectors, providing a favorable backdrop for China Ruyi's multi-engine growth strategy [7]