Core Insights - The company reported an expected unaudited net profit of approximately RMB 1 billion to RMB 1.2 billion for the six months ending June 30, 2025, marking a turnaround from a net loss of approximately RMB 123 million in the same period last year [1] - The anticipated unaudited revenue for the reporting period is expected to reach approximately RMB 2.1 billion to RMB 2.3 billion, representing an increase of about 14% to 25% compared to approximately RMB 1.84 billion in the same period of 2024 [1] Financial Performance - The increase in unaudited revenue and net profit is primarily attributed to the robust growth of the company's overall business and the continuous release of synergies [1] - The strategic layout of the company has effectively enhanced monetization efficiency, contributing to revenue and profit growth, showcasing the foresight and sustainable growth potential of the company's strategic planning [1] - The impact of the fair value changes related to the contingent consideration from the acquisition of Virtual Cinema Entertainment Limited has diminished, as the warrants associated with the acquisition have been exercised, no longer affecting the company's profits [1]

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分內容而產生或因依賴該等內容而引致之任何損失 承擔任何責任。 China Ruyi Holdings Limited （股份代號：136） 正面盈利預告 本公布乃由中國儒意控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香港法 例第571章證券及期貨條例第XIVA部項下之內幕消息條文（ 定義見香港聯合交易所有限公司 證券上市規則（「上市規則」））及上市規則第13.09條作出本公告。 本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者，根據管理層目前所 得的資料，董事會預計本集團可能於截至二零二五年六月三十日止六個月（「報告期」）根據 香港財務報告準則錄得未經審計除稅後綜合淨利潤約人民幣10億元至人民幣12億元，相較 去年同期錄得除稅後淨虧損約人民幣1.23 億元，實現扭虧為盈。本集團預期報告期的未經 審計收入達到約人民幣21億元至人民幣23億元，較二零二四年同期約人民幣18.40億元上升 約14%至25%。 (1) 主 要 得 益 於 ...

Core Viewpoint - China Ruyi's acquisition of a 30% stake in Kuaiqian Financial for 240 million yuan reflects a strategic move into the financial payment sector, amidst Wanda's financial struggles and the declining valuation of payment licenses [4][5][10]. Group 1: Transaction Details - China Ruyi's indirect wholly-owned subsidiary signed a share transfer agreement with Kuaiqian Financial, with a cash consideration of 240 million yuan, to be paid in three installments [4]. - The estimated valuation of Kuaiqian Financial is approximately 800 million yuan, and post-transaction, China Ruyi will become the largest single shareholder [4][5]. - Kuaiqian Financial is a core asset of Wanda's financial sector and was one of the first to obtain a third-party payment license from the People's Bank of China [4][6]. Group 2: Historical Context - Wanda acquired a 68.7% stake in Kuaiqian for approximately 315 million USD in 2014, but the value of the payment license has since decreased by nearly 70% [5][6]. - Kuaiqian Financial has faced management instability and regulatory challenges, including multiple fines for violations [11][12]. - The payment license is valid until May 2026, and Kuaiqian Financial's current employee count is zero, categorizing it as a micro-enterprise [6][11]. Group 3: Strategic Implications - The acquisition is seen as a pathway for China Ruyi to enter the third-party payment and fintech sectors, potentially creating synergies with its existing online streaming and gaming services [10]. - Analysts suggest that the collaboration could enhance Kuaiqian's service offerings, particularly in B2B payment scenarios, leveraging resources from China Ruyi's other business lines [11]. - However, the future profitability of Kuaiqian remains uncertain due to a shrinking market for card payment processing and the need for significant investment in compliance and risk management [11][12].

Core Viewpoint - China Ruyi announced the acquisition of a 30% stake in Kuaiqian Financial for 240 million yuan, aiming to diversify its fintech business and leverage Kuaiqian's resources and technology for long-term growth opportunities [1][7]. Group 1: Acquisition Details - The acquisition involves a cash payment of 240 million yuan, to be paid in three installments [1]. - After the transaction, China Ruyi will become the largest single shareholder of Kuaiqian Financial, but Kuaiqian will not become a subsidiary of China Ruyi [1]. - The valuation of Kuaiqian Financial at 800 million yuan represents a 76% decrease from the initial valuation of approximately 3.3 billion yuan when Wanda Group acquired it [7]. Group 2: Financial Performance of China Ruyi - In 2024, China Ruyi reported a revenue of 3.671 billion yuan, a slight increase of 1.2% year-on-year [2]. - The company recorded a net loss of 207 million yuan, a shift from profit, primarily due to a fair value loss of 1.121 billion yuan related to contingent liabilities [2]. - Adjusted net profit was reported at 1.151 billion yuan, marking a significant increase of 120% year-on-year [2]. Group 3: Kuaiqian Financial's Background and Compliance Issues - Kuaiqian Financial was one of the first companies to receive a third-party payment license from the People's Bank of China in 2011, focusing on comprehensive payment solutions for medium and large enterprises [3]. - The company has faced multiple compliance issues, including receiving four fines from the central bank totaling over 17 million yuan since 2022 for violations of business management regulations [1][10]. - Kuaiqian has been implicated in providing payment channels for high-interest loan platforms, raising concerns about its compliance and operational integrity [14][16]. Group 4: Wanda Group's Financial Strategy and Challenges - Wanda Group initially viewed its financial sector as a key growth area, with aspirations for its market value to exceed that of its cultural and commercial sectors [5]. - However, the group has struggled with its financial transformation, leading to significant layoffs and a shift in its financial assets, including the planned sale of Kuaiqian [5][6]. - The financial sector's challenges have prompted Wanda to seek buyers for Kuaiqian multiple times, with previous offers failing to materialize [6][8].

Core Viewpoint - The third-party payment platform Kuaiqian has been acquired by China Ruyi for 240 million yuan, marking its entry into the fintech sector after a series of strategic acquisitions in the entertainment industry [2][3][11]. Group 1: Acquisition Details - China Ruyi announced the acquisition of a 30% stake in Kuaiqian Financial Services for 240 million yuan, with the payment structured in three installments [3][11]. - The seller, Wanda Group, previously acquired a controlling stake in Kuaiqian for 315 million USD in 2014, holding 30% post-acquisition [3][11]. - Kuaiqian has been operating independently under Wanda's ownership, with limited management involvement from Wanda in recent years [4][11]. Group 2: Strategic Rationale - The acquisition is seen as a strategic move for China Ruyi to diversify into the fintech sector, leveraging its existing entertainment and content ecosystem [5][11]. - China Ruyi aims to enhance its platform capabilities by integrating payment solutions into its various business lines, including gaming and cinema [7][11]. - The company has a significant user base, with over 500 million users across its platforms, which could provide substantial growth opportunities for Kuaiqian [7][11]. Group 3: Future Collaboration - China Ruyi plans to maintain Kuaiqian's independent operations while participating in major decisions, including board appointments and strategic direction [7][11]. - There is potential for developing payment products tailored to entertainment scenarios, such as cinema payments and membership wallet solutions [7][11]. - Kuaiqian has initiated overseas expansion efforts, and the partnership with China Ruyi may accelerate these initiatives by providing additional resources [7][11]. Group 4: Market Context - The third-party payment license has become increasingly valuable, with multiple acquisitions in the sector, highlighting the competitive landscape [3][11]. - Kuaiqian, as one of the earliest licensed payment institutions in China, has established a foothold in various sectors, including insurance and finance [6][11]. - The acquisition aligns with regulatory encouragement for compliant and resourceful institutions to participate in the payment industry [5][11].

| 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | | 是 | | | | 證券代號 (如上市) | 00136 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | | 事件 | | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | | | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年7月8日 | | 15,847,112,286 | | | 0 | | | 15,847,112,286 | | 1). 配售/認購 - 涉及新股 | | | 163,502,329 | 1.03 % | | HKD | ...

Core Viewpoint - Wang Jianlin is selling assets again, this time in the internet finance sector with the sale of Kuaiqian Financial [2] Group 1: Transaction Details - On July 22, China Ruyi announced that its indirect wholly-owned subsidiary Shanghai Ruyi Xingchen Enterprise Management Co., Ltd. signed a share transfer agreement to acquire 30% of Kuaiqian Financial for 240 million yuan, payable in three installments, valuing Kuaiqian Financial at approximately 800 million yuan [3][4] - After the transaction, China Ruyi will become the largest single shareholder of Kuaiqian Financial, but Kuaiqian will not become a subsidiary of China Ruyi [4] - Kuaiqian Financial is primarily owned by Shanghai Wanda Network Financial Services Co., Ltd., which is part of Dalian Wanda Group [5][7] Group 2: Historical Context - In late 2014, Wanda acquired a controlling stake in Kuaiqian for 315 million USD (approximately 2.257 billion yuan), marking Wanda's first acquisition in the internet finance sector [10] - Kuaiqian had a transaction volume exceeding 2 trillion yuan in 2014, ranking fourth after UnionPay Business, Alipay, and Tenpay [10] - Wanda had previously expressed ambitions to integrate Kuaiqian's extensive partner network to become the largest O2O enterprise in China [11] Group 3: Value and Risks of Kuaiqian - According to industry analysts, Kuaiqian's core value lies in its full licensing qualifications and the scarcity of such licenses in the current regulatory environment, allowing China Ruyi to acquire national payment qualifications at a low cost [15] - However, Kuaiqian has faced over 10 million yuan in penalties in the past three years, indicating weaknesses in its risk control system, which China Ruyi will need to address [15] - The payment industry is heavily reliant on scenarios, and while China Ruyi may provide resource synergies, Kuaiqian's revenue is primarily from offline transactions, which are currently in decline [15]

Group 1 - The core point of the article is that China Ruyi has acquired a 30% stake in Kuaiqian Financial Services for 240 million yuan, becoming the largest shareholder, which will help diversify its business into third-party payment and fintech sectors [1] - The acquisition is expected to leverage the target company's industry resources, technological capabilities, and policy advantages, providing long-term strategic synergies and potential growth opportunities for China Ruyi [1] - China Ruyi's main business segments include film and television content production, an online streaming platform called Pumpkin Movies, and a mobile gaming company named Jingxiu Games [2][4] Group 2 - In 2024, China Ruyi achieved a revenue of 3.671 billion yuan, a year-on-year increase of 1.21%, with adjusted net profit rising by 120% to 1.251 billion yuan [4] - The company has conducted two rounds of financing in 2025, raising a total of approximately 6.265 billion yuan for business growth and expansion, including content production and game development [4] - China Ruyi also announced plans to acquire a 30% stake in Beijing Yonghang Technology for 825 million yuan, which is known for its QQ Dance game series [4]

Group 1 - The US stock market saw all three major indices rise, with the Dow Jones up 1.14%, Nasdaq up 0.61%, and S&P 500 up 0.78% [4] - Notable gains were observed in the automotive sector, with Toyota and Honda rising over 13% and 8% respectively [4] - Chinese concept stocks mostly increased, with the Nasdaq Golden Dragon China Index up 0.75% [4] Group 2 - International precious metal futures generally declined, with COMEX gold futures down 1.34% at $3397.50 per ounce [5] - International oil prices showed slight fluctuations, with WTI crude oil up 0.17% at $65.42 per barrel [6] Group 3 - The State Grid Corporation of China signed a capital increase agreement for its subsidiary, raising 36.5 billion yuan, marking a record in state-owned asset transactions [16] - Huawei launched the Pura80 digital version, with prices starting at 4699 yuan, aiming to expand its share in the high-end smartphone market [17][18] - Huawei's DriveONE high-voltage powertrain will debut in the AITO M8 electric version, showcasing significant technological advancements [19][20] Group 4 - Bubble Mart is suing 7-Eleven in the US for selling counterfeit LABUBU toys, emphasizing its commitment to intellectual property protection [24] - UBTECH announced the launch of the Walker S2 industrial humanoid robot, featuring advanced technology for smart manufacturing [25][26] Group 5 - Tesla reported a second-quarter net profit of $1.172 billion, a 16% year-on-year decrease, with revenue down 12% to $22.5 billion [31] - Alphabet's second-quarter net profit reached $28.196 billion, a 19% increase year-on-year, with revenue surpassing market expectations [32] - IBM's second-quarter net profit grew by 20% to $2.2 billion, with revenue up 7.7% to $16.98 billion [33]

Core Insights - China Ruyi announced the acquisition of a 30% stake in Kuaiqian Financial for 240 million yuan, marking a significant reduction in valuation from previous years [1][2] - The acquisition aligns with China Ruyi's strategy to expand into the third-party payment and fintech sectors, leveraging synergies with its existing businesses [2] Group 1: Transaction Details - Shanghai Ruyi, a subsidiary of China Ruyi, will acquire the stake in Kuaiqian Financial in three phases [1] - Kuaiqian Financial, established in 2011, is one of the few fully licensed third-party payment institutions in mainland China, focusing on comprehensive payment solutions for medium and large enterprises [1] - The estimated total valuation of Kuaiqian Financial post-acquisition is 800 million yuan, a decline of over 60% from the price paid by Wanda Financial in 2014 [1] Group 2: Historical Context - Wanda Financial initially acquired a 68.7% stake in Kuaiqian Financial for approximately 3.15 billion yuan in 2014, later increasing its ownership to 100% [1] - Kuaiqian Financial has faced regulatory challenges, accumulating fines exceeding 10 million yuan over the past three years for violations related to clearing management and merchant risk control [1] Group 3: Strategic Implications - Post-transaction, Wanda Financial's stake in Kuaiqian Financial will drop to 0%, making China Ruyi the largest single shareholder, although Kuaiqian will not be a subsidiary but rather an associate company [2] - China Ruyi aims to create synergies between Kuaiqian Financial and its online streaming, gaming services, and offline cinema operations [2] - The company has been actively acquiring assets to diversify its business, including significant investments in film and gaming sectors, with revenues reported at 1.32 billion, 3.63 billion, and 3.67 billion yuan for 2022, 2023, and 2024 respectively [2]