Group 1 - The core point of the article highlights the recent stock transfer of Zhong Shouyou (00302) from Morgan Stanley Hong Kong Securities to Deutsche Bank, with a market value of HKD 111 million, representing 9.72% of the total shares [1] - Zhong Shouyou announced the appointment of Mr. Liu Shanshan as a non-executive director, effective from October 10, 2025 [1] - The financial report for the first half of 2025 indicates that Zhong Shouyou achieved revenue of RMB 763 million, a year-on-year decrease of 38.13%, and a net loss attributable to shareholders of RMB 639 million, an increase of 170.32% year-on-year [1]

Group 1 - The core point of the article highlights the recent stock transfer of Zhong Shouyou (00302) from Morgan Stanley Hong Kong Securities to Deutsche Bank, with a market value of HKD 111 million, representing 9.72% of the total shares [1] - Zhong Shouyou announced the appointment of Mr. Liu Shanshan as a non-executive director, effective from October 10, 2025 [1] - The financial report indicates that in the first half of 2025, Zhong Shouyou achieved revenue of RMB 763 million, a year-on-year decrease of 38.13%, and a loss attributable to shareholders of RMB 639 million, an increase of 170.32% year-on-year [1]

Impairment and Write-offs - The company recognized a trade receivables impairment of approximately RMB 175.8 million due to delayed payments from third-party distribution channels amid a challenging market environment[5]. - The company confirmed a financial asset impairment of approximately RMB 79.73 million, primarily related to a game development agreement with a Chengdu developer, which has led to a lawsuit for the return of prepaid amounts[6]. - The company recognized a write-off of prepaid expenses amounting to approximately RMB 211.8 million due to unforeseen issues during game development, affecting over 20 prepaid contracts[10]. - The total impairment included RMB 101.0 million in prepaid minimum guarantees, RMB 100.8 million in prepaid royalties, and RMB 10.0 million in prepaid investments[11]. - The company recorded goodwill impairments of approximately RMB 529.9 million for Wenmo Interactive and RMB 16.8 million for Shanghai Zhujing due to poor performance during the reporting period[12]. - Impairment of intangible assets related to "仙劍世界" amounts to approximately RMB 157.7 million, while other intangible assets impairment totals about RMB 53.9 million[15]. - The impairment of other intangible assets primarily includes unamortized prepaid royalties, which were not fully amortized due to early market exit of 11 games[18]. - The board believes the impairment amounts are fair and reasonable based on independent valuation standards and management's assessments[20]. Revenue and Performance Adjustments - The revenue growth rate for the cash-generating unit of 文脈互動 has been revised down to 2%-157%, compared to the previous range of 16%-213%[13]. - The revenue growth rate for 上海洲競's cash-generating unit has been adjusted to zero, down from a previous range of 5%-44%[14]. - The flagship game "仙劍世界" performed poorly in tests conducted in June and December 2024, resulting in a significant reduction in profit forecasts[16]. - The game "全民街籃" has not met testing expectations, leading to significant losses, and has been transferred to a third-party partner for adjustments and publishing[14]. - The game "城主天下" launched in November 2023 is expected to perform poorly in 2024, while the launch of "代號：主公" has been canceled[13]. Financial Assets and Valuation - The company reported a total of RMB 1,367.0 million in prepaid expenses as of December 31, 2024, including RMB 737.6 million in prepaid royalties and RMB 443.3 million in prepaid minimum guarantees[9]. - The valuation of the game technology developed by 上海凡影 is based on a discounted cash flow method, reflecting all business risks[17]. Stock Options - The unexercised stock options as of December 31, 2024, were priced at HKD 2.81, HKD 1.95, and HKD 1.15 for options granted on March 29, 2021, January 20, 2023, and April 24, 2024, respectively[21].

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 公司名稱: 中手游科技集团有限公司 本月底法定/註冊股本總額： USD 500,000 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 00302 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 2,995,413,777 | | 0 | | 2,995,413,777 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 2,995,413,777 | | 0 | | 2, ...

Core Viewpoint - Standard Shares (600302) announced a suspension of trading starting October 21, due to potential changes in company control as per notifications from its controlling shareholder, Standard Group [1] Company Overview - Standard Shares is one of China's major manufacturers of sewing machinery, providing solutions and services for industries such as apparel, bags, home furnishings, and automotive interiors. The company operates under the brands "Standard," "Weiteng," and "Hailing" [3] - The company currently has a total market value of 2.6 billion [3] - In the first half of the year, the company reported revenue of 185 million, a year-on-year decrease of 21.37%, and a net loss attributable to shareholders of 8.52 million [3] - The company aims for a revenue target of 580 million and a net profit of 710,000 by 2025 [3] Strategic Shift - The company has publicly stated its intention to shift from being a single sewing equipment supplier to a provider of system solutions and services in the environmental and apparel sectors [5] - Recently, the chairman of the company, Chang Hong, submitted a resignation due to work adjustments, leaving the chairman position vacant [5] - The board has nominated Wang Kunyuan as a candidate for the board of directors, who is currently the party secretary and chairman of China Standard Industrial Group [5] Parent Company and Financials - The parent company, Xi'an Industrial Investment Group, has stakes in multiple listed companies, including Shaan Gu Power, Western Superconducting, and Tianli Co., among others [7] - As of the end of 2024, the group reported total revenue of 35.846 billion, total industrial output value of 13.613 billion, and total profit of 1.007 billion [7] - The group's total assets amount to 49.5 billion, with net assets of 15.1 billion [7]

Core Viewpoint - Standard Shares is planning a significant matter that may lead to a change in control, as notified by its controlling shareholder, Standard Group, in accordance with directives from the Xi'an State-owned Assets Supervision and Administration Commission and Xi'an Industrial Investment Group [2][4]. Group 1: Company Developments - The company announced a stock suspension starting October 21, 2025, for no more than two trading days due to the ongoing planning and uncertainty surrounding the major matter [4]. - In May 2025, it was announced that the indirect controlling shareholder, Shan Gu Group, would transfer 100% of its stake in Standard Group to Xi'an Industrial Investment Group without compensation [4]. - On October 10, 2025, the company disclosed that its chairman, Chang Hong, submitted a resignation report due to work adjustments, with his term originally set to expire on July 7, 2026 [4][6]. Group 2: Financial Performance - Standard Shares reported a revenue decline to 446.4 million yuan in 2024, down over 70% from nearly 1.7 billion yuan in 2021, with over 95% of revenue still coming from sewing machinery-related products [6][7]. - The company has faced continuous net losses for four years, with a net profit of -153.47 million yuan in 2024 and a non-recurring net profit loss for 12 consecutive years [6][7]. - In the first half of 2025, the company's revenue further shrank to 185 million yuan, raising concerns about potential delisting risks if revenue does not exceed 300 million yuan [7][8]. Group 3: Market Position - As of October 20, 2025, Standard Shares had a total market capitalization of 2.564 billion yuan [8]. - The company operates under three major brands: "Standard," "Weiteng," and "Hailing," with a history dating back to 1946 [6].

Core Viewpoint - Standard Shares (600302) announced a suspension of trading starting October 21, 2023, due to potential changes in company control [1][4]. Company Overview - Standard Shares is a major manufacturer of sewing machinery in China, providing solutions for various industries including apparel, bags, home furnishings, and automotive interiors [5]. - The company operates under three brands: "Standard," "Weiteng," and "Hailing" [5]. - As of now, the total market capitalization of Standard Shares is 2.6 billion [5]. Financial Performance - In the first half of the year, Standard Shares reported revenue of 185 million, a year-on-year decline of 21.37% [5]. - The company incurred a net loss of 8.52 million [5]. - The 2025 operational targets set by the company include a revenue goal of 580 million and a net profit of 7.1 million [5]. Strategic Shift - The company has publicly stated its intention to shift from being a single sewing equipment supplier to a provider of integrated solutions and services in the environment and apparel sectors [6]. Management Changes - The chairman of Standard Shares, Chang Hong, submitted a resignation report this month due to work adjustments, leaving the chairman position vacant [7]. - Vice Chairman Zhang Pengwu is currently fulfilling the chairman's duties, while Wang Kunyuan has been nominated as a candidate for the board of directors [7]. Parent Company Overview - The parent company, Xi'an Industrial Investment Group, has interests in multiple listed companies, including Shaan Gu Power, Western Superconducting, and Tianli Co., among others [8]. - As of the end of 2024, the group reported total assets of 49.5 billion and net assets of 15.1 billion [8]. - The group achieved an operating income of 35.846 billion and a total profit of 1.007 billion in 2024 [8].

Core Viewpoint - Liu Shanshan has been appointed as a non-executive director of Zhongshouyou (00302), effective from October 10, 2025 [1] Company Summary - Zhongshouyou (00302) announced the appointment of Liu Shanshan as a non-executive director [1]

中手游(00302)发布公告，刘杉杉先生获委任为公司非执行董事，自2025年10月10日起生效。 ...

Core Viewpoint - Zhong Shouyou (00302.HK) announced the appointment of Liu Shanshan as a non-executive director, effective from October 10, 2025 [1] Company Summary - Liu Shanshan will join Zhong Shouyou's board as a non-executive director [1]