Summary of Key Points Core Viewpoint - On August 29, 25 Hong Kong-listed companies conducted share buybacks, totaling 17.2021 million shares and an aggregate amount of 869 million HKD [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 919,000 shares for 550 million HKD, with a highest price of 605.000 HKD and a lowest price of 594.500 HKD, bringing its total buyback amount for the year to 45.549 billion HKD [1][2]. - China Hongqiao repurchased 8.9235 million shares for 227 million HKD, with a highest price of 25.440 HKD, totaling 3.911 billion HKD in buybacks for the year [1][2]. - Hang Seng Bank repurchased 210,000 shares for 23.5169 million HKD, with a highest price of 112.500 HKD and a lowest price of 111.500 HKD, totaling 479.2213 million HKD in buybacks for the year [1][2]. Group 2: Notable Buybacks - The largest buyback amount on August 29 was from Tencent Holdings at 550 million HKD, followed by China Hongqiao at 227 million HKD [1][2]. - In terms of share quantity, China Hongqiao led with 8.9235 million shares repurchased, followed by Weigao Group and MGM China with 1.26 million and 1 million shares, respectively [1][2]. Group 3: First-Time Buybacks - Companies such as NetDragon and Greentown Management conducted their first buybacks of the year on this date [2].

Core Viewpoint - Multiple companies conducted share buybacks on August 29, 2025, with Tencent Holdings leading in both the number of shares repurchased and the total amount spent [1][2]. Group 1: Company Buyback Details - Tencent Holdings (00700) repurchased 919,000 shares for a total of 550 million [2]. - Weichai Power (02338) repurchased 16.42 million shares for 250 million [2]. - China Hongqiao (01378) repurchased 8.92 million shares for 227 million [2]. - Hang Seng Bank (00011) repurchased 210,000 shares for 23.52 million [2]. - MGM China (02282) repurchased 1 million shares for 16.06 million [2]. - Other notable buybacks include Zhongxu Future (09890) with 664,200 shares for 10 million and Weigao Group (01066) with 1.26 million shares for 7.45 million [2]. Group 2: Cumulative Buyback Data - Tencent Holdings has a cumulative buyback of 46.66 million shares, representing 0.508% of its total share capital [2]. - Weichai Power's cumulative buyback stands at 39.14 million shares, accounting for 0.449% of its total share capital [2]. - China Hongqiao's cumulative buyback is 88.67 million shares, which is 0.950% of its total share capital [2]. - Other companies like YUM China (09987) and IGG (00799) have cumulative buybacks of 545.32 million shares (1.460%) and 13.60 million shares (1.166%), respectively [2].

Core Viewpoint - The company's 1H25 performance is in line with expectations, with an increase in dividend and buyback ratio to 61% [1][2] Financial Performance - Revenue decreased by 1% to HKD 2.721 billion in 1H25; net profit attributable to shareholders was HKD 322 million, with Non-IFRS net profit at HKD 332 million, meeting expectations [1] - The company announced an interim and special dividend totaling HKD 0.139 per share, representing about 50% of 1H25 net profit, with share buybacks accounting for approximately 11% of net profit [1][2] - Non-IFRS net profit for 1H25 was HKD 323 million, aligning with expectations; gross margin increased by 4 percentage points, while sales expense ratio rose by 5 percentage points, and adjusted net profit margin decreased by 0.5 percentage points [2] Product Development and Market Strategy - The new game "Fate War," which combines SLG and simulation elements, launched in early August, generating HKD 20 million in revenue within the first three weeks; the company plans to release a new version on September 30, focusing on technical updates and user experience improvements [1] - The core older product "Lords Mobile" saw a 14% revenue decline in 1H25, attributed to its maturity; the company plans to adjust gameplay by the end of the year, with potential impacts on user acquisition costs and retention [2] - Revenue for "Doomsday" and "Viking Rise" grew by 6% and 18% respectively, with a slight decline in revenue from the previous half [2] - The company is engaging in collaboration events, such as the partnership with the movie "Godzilla" and a planned collaboration with "Attack on Titan," which may enhance user acquisition and monetization [2] Valuation and Forecast - The company maintains its profit forecast and an outperform rating for the industry, with the current stock price corresponding to 8.6/8.4 times the Non-IFRS net profit for 2025/2026; the target price has been raised by 26% to HKD 5.23, reflecting a valuation premium from the new product's initial performance [3]

格隆汇8月29日丨IGG(00799.HK)公告，8月29日耗资393.4万港元回购83.5万股。 ...

IGG(00799)发布公告，于2025年8月29日斥资393.42万港元回购83.5万股股份。 ...

智通财经APP讯，IGG(00799)发布公告，于2025年8月29日斥资393.42万港元回购83.5万股股份。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： IGG Inc 呈交日期： 2025年8月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 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) | 00799 | 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 ...

Core Viewpoint - IGG's H1 2025 financial report shows stable performance with slight declines in revenue and net profit, indicating a need for new hit games to sustain growth [1][2][14]. Financial Performance - Revenue for H1 2025 was HKD 2.72 billion (approximately RMB 2.5 billion), a year-on-year decrease of 0.51% [1][2]. - Net profit was HKD 325 million (approximately RMB 298 million), down 1.9% year-on-year but up 29% quarter-on-quarter [1][2]. - The cost of sales decreased significantly from HKD 580 million to HKD 464 million [2]. Business Segments - The company operates in three main segments: mobile games, mobile applications, and other businesses [3]. - The mobile application segment generated HKD 530 million (approximately RMB 486 million) in H1 2025, a 30% increase year-on-year, contributing about 20% to total revenue [3]. - Other business revenue was HKD 160 million (approximately RMB 147 million), accounting for 6% of total revenue, down 15.8% year-on-year [3]. Key Games Performance - "King of Kingdoms," IGG's flagship game, generated HKD 1.15 billion (approximately RMB 1.06 billion) but saw a 14.2% year-on-year decline in revenue, dropping its contribution from 49% to 42% of total revenue [7][9]. - Newer titles "Doomsday: Last Survivors" and "Viking Rise" contributed HKD 520 million (approximately RMB 477 million) and HKD 360 million (approximately RMB 330 million) respectively, showing growth but not enough to offset declines from "King of Kingdoms" [9][13]. New Game Launch - The newly launched game "Fate War" has shown promising initial performance with around 1.57 million downloads in its first 18 days and a revenue of approximately HKD 9.2 million (around RMB 8.5 million) [27][33]. - Despite its initial success, the game faces challenges in sustaining high revenue levels due to a lack of ongoing large-scale marketing efforts [39][50]. Strategic Direction - IGG is actively testing numerous new games each year to identify potential hits, with a focus on SLG and other genres [52][61]. - The company aims to balance its established game portfolio with innovative new titles to capture a broader audience and adapt to market trends [68].

Core Viewpoint - CICC maintains IGG's earnings forecast and outperform industry rating, raising the target price by 26% to HKD 5.23, reflecting a valuation premium due to the strong initial performance of new products [1] Group 1: Financial Performance - For 1H25, IGG reported a revenue decline of 1% to HKD 2.721 billion, with a net profit of HKD 322 million and Non-IFRS net profit of HKD 332 million, aligning with CICC's expectations [2] - The company announced an interim dividend and special dividend totaling HKD 0.139 per share, representing approximately 50% of 1H25 net profit, with share buybacks accounting for about 11% of net profit [2][5] - The Non-IFRS net profit for 1H25 was HKD 323 million, with a gross margin increase of 4 percentage points and a sales expense ratio increase of 5 percentage points, while the adjusted net profit margin decreased by 0.5 percentage points [5] Group 2: New Product Launch - The new SLG game "Fate War" launched in early August generated HKD 20 million in revenue within the first three weeks, with a focus on user acquisition and revenue performance post-version updates [3] - The company plans to release a new version on September 30, which will include technical updates for low-performance devices and streamlined daily operations to enhance user engagement in core gameplay [3] Group 3: Existing Product Performance - The core existing products performed in line with expectations, with "Lords Mobile" experiencing a 14% revenue decline in 1H25, attributed to its maturity phase [4] - Revenue for "Doomsday" and "Viking Rise" grew by 6% and 18% year-on-year, respectively, with slight quarter-on-quarter declines, meeting expectations [4] - The company is planning gameplay adjustments for "Lords Mobile" by the end of the year and has initiated collaborations with films and other franchises to enhance user engagement and revenue [4]

公司SLG+模拟经营新品《Fate War》于8月初上线，公司表示首三周流水金额达到2,000万港元。展望未 来，该行建议关注游戏版本迭代及对应的获客情况。公司于业绩会上表示，将于9月30日推出新版本， 优化重点为：1)技术更新使游戏适配部分低性能设备;2)减少日常操作流程，推动用户将更多时长放在社 交、战斗等核心玩法。公司亦表示将于新版本上线后进行大规模用户获取投放。该行认为，公司新版本 的两项优化均有助于更广泛的用户群获取，该行建议关注后续游戏的用户数量及留存表现。 老产品整体表现稳定，关注玩法调整及联动活动进展 智通财经APP获悉，中金发布研报称，维持IGG(00799)盈利预测及跑赢行业评级，当前股价对应8.6/8.4 倍2025/2026年Non-IFRS净利润。考虑到新产品初期优异表现带来的估值溢价，上调目标价26%至5.23 港元，对应10.0/9.8倍2025/2026年Non-IFRS P/E，上行空间16%。 中金主要观点如下： 1H25业绩基本符合该行的预期，分红+回购比例提升至61% 公司公布1H25业绩：收入同降1%至27.21亿港元;归母净利润3.22亿港元，Non-IFRS净利润 ...