呈交日期: 2025年8月4日 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7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: 橙天嘉禾娛樂（集團）有限公司 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) | 01132 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 6,000,000,000 | HKD | | 0.1 HKD | | 600,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 6,000,000,000 | HKD | | 0.1 HKD | | 600,000,000 | 本月底法定/註冊股本總額： HKD 600,00 ...

Core Viewpoint - Jiangling Motors Corporation has officially launched its Intelligent Connected Vehicle Laboratory, which will significantly support the company's transformation towards smart and connected vehicles and strengthen the electric vehicle supply chain in Nanchang [1][2]. Group 1: Laboratory Features - The laboratory is located in the Xiaolan Economic Development Zone of Nanchang and includes eight specialized labs covering key areas of smart vehicle research [1]. - The YB (Yellow Board Testing) lab focuses on basic functionality research and system integration of components [1]. - The real vehicle and CPT (Complete Vehicle Performance Testing) lab provides a complete vehicle testing environment [1]. - The V2X lab develops vehicle-to-everything communication technology [1]. - The domain control and HIL (Hardware-in-the-Loop) simulation lab tests and verifies software functionality through simulation modeling [1]. - The digital cockpit lab aims to create a new generation of human-machine interaction experiences [1]. - The intelligent driving calibration lab ensures precise environmental perception and decision-making control [1]. - The electronic and electrical lab guarantees the reliability of vehicle electronic systems [1]. - The information security and network lab builds a network security protection system for vehicles [1]. Group 2: Innovation Ecosystem - The laboratory serves as a core R&D base for Jiangling's smart connected technology, creating an innovative ecosystem that covers the entire chain of smart connected technology [1]. - A data center efficiently processes massive amounts of data to drive algorithm optimization [1]. - Advanced simulation and real vehicle testing platforms ensure system safety and reliability [1]. - The lab also accelerates human-vehicle interaction innovation and provides a validation platform for cutting-edge technologies such as 5G, OTA (Over-the-Air updates), and AI perception and decision-making [1]. Group 3: Development Efficiency - After the laboratory's official operation, Jiangling's R&D team can complete the entire development process from basic research, simulation analysis, bench testing to real vehicle testing [2]. - This capability effectively compresses the new vehicle development cycle and accelerates the upgrade and iteration of intelligent models [2]. - The company aims to provide users with leading smart mobility solutions [2].

Core Viewpoint - The new energy light commercial vehicle market in China has shown a fluctuating trend in sales, with a cumulative growth of 15% after April 2025, indicating a recovery in the market after a brief downturn earlier in the year [1][5][31]. Sales Performance - In May 2025, the new energy light commercial vehicle market sold 24,100 units, representing a month-on-month increase of 30% and a year-on-year increase of 12% [4][5]. - The sales trend from January to May 2025 has been characterized by a pattern of decline and growth, with the cumulative sales reaching 96,300 units, a year-on-year growth of 14% [9][25]. Regional Insights - In the first five months of 2025, all 31 provincial-level administrative regions in mainland China recorded new energy light commercial vehicle registrations, with Guangdong province leading with nearly 20,000 units, accounting for 19.26% of the national total [11][13]. Market Composition - The market is predominantly composed of pure electric vehicles, which accounted for 99.99% of sales in the first five months of 2025, showing a slight decrease compared to the same period in 2024 [15]. - The top-selling companies in May 2025 included Wuling and Yuan Cheng, each selling over 4,000 units, with market shares of 19.40% and 16.89% respectively [22][20]. Company Performance - The majority of companies in the new energy light commercial vehicle market experienced sales growth in the first five months of 2025, with notable increases from SAIC-GM-Wuling, Guizhou Changjiang, and Jiangling, which saw year-on-year growth rates of 145%, 81%, and 70% respectively [26][29]. - The market share of SAIC-GM-Wuling reached 23.42%, significantly up by 12.48 percentage points compared to the previous year [29]. Future Outlook - The new energy light commercial vehicle market is expected to continue its growth trajectory, with a focus on whether June 2025 will initiate a new round of consecutive increases in sales [31].

Group 1 - Audi has suspended its comprehensive electrification plan and will no longer set a timeline for phasing out internal combustion engine vehicles, opting for a multi-powertrain strategy that includes fuel, hybrid, and pure electric options [2][4][5] - The decision reflects a broader trend in the European automotive industry to return to internal combustion engines in response to the competitive landscape, particularly after observing China's advancements in the electric vehicle sector [4] - The global automotive industry's future remains uncertain, with hopes that Chinese brands can navigate the upcoming intense competition [4] Group 2 - Jiangling Motors has denied rumors regarding the integration of Jiangling Ford into Changan Ford, stating that there are currently no plans for asset restructuring [6][7] - Previous speculation suggested that Jiangling Ford would merge with Changan Ford to address Ford's sales challenges in China, but the integration of their differing product lines and market focuses presents significant challenges [10] - Both Changan Ford and Jiangling Ford are actively pursuing electrification and have launched several plug-in hybrid products, indicating that they will continue to operate in their respective areas for the foreseeable future [10] Group 3 - Geely's new mid-size plug-in hybrid sedan, the Galaxy A7, made its debut on June 19 [11] - The Galaxy A7 features dimensions of 4918mm in length, 1905mm in width, and 1495mm in height, with a wheelbase of 2845mm [13] - The vehicle is equipped with a 15.4-inch floating central control screen and an 8.8-inch digital instrument panel, showcasing a simple yet warm interior design [14] - It incorporates the latest Raytheon AI Electric Hybrid 2.0 system, with a battery pack capacity of 18.4-18.99kWh, achieving a pure electric range of 115-120km under CLTC conditions and a total range exceeding 2100km [15] - The Galaxy A7 is positioned to compete with BYD's Qin L DM-i, with both vehicles offering comparable product capabilities, leaving design as a key differentiator [15]

港股影视股盘中震荡上升，阿里影业(01060.HK)涨近15%，橙天嘉禾(01132.HK)涨近5%，猫眼娱乐 (01896.HK)涨4.5%。 ...

Core Viewpoint - The domestic new energy light commercial vehicle market experienced a significant decline in April 2025, with sales dropping 27% month-on-month and 16% year-on-year, indicating a potential shift in market dynamics after a period of growth [2][3][30]. Market Performance - In April 2025, the new energy light commercial vehicle market sold 18,500 units, marking a 27% decrease from March and a 16% decrease year-on-year [2][3]. - The sales trend for the first four months of 2025 showed fluctuations: a decline in January, followed by increases in February and March, and then a decline again in April [5][7]. Sales Data - Cumulatively, from January to April 2025, the new energy light commercial vehicle market sold 72,300 units, reflecting a 15% year-on-year growth, although the growth rate has narrowed by 17 percentage points compared to March [7][22]. - The market completion rate for the 2024 annual sales target stood at 29.54% by the end of April 2025 [7]. Regional Insights - All 31 provincial-level administrative regions in mainland China have registered new energy light commercial vehicles, with 20 regions exceeding 1,000 units in registrations. Guangdong province alone accounted for 13,300 units, representing 18.40% of the total registrations in the first four months of 2025 [8][11]. Company Performance - In April 2025, SAIC-GM-Wuling led the market with a sales volume of nearly 5,000 units, achieving a year-on-year growth of 227%. Other notable performers included Foton, Changan, and Jiangling, with respective growth rates of 48%, 40%, and 324% [15][16][24]. - The market share for SAIC-GM-Wuling reached 24.76%, while other companies like Farizon and Changan held 17.21% and 13.37% market shares, respectively [27][28]. Market Composition - The new energy light commercial vehicle market is predominantly composed of pure electric models, which accounted for 99.98% of sales in the first four months of 2025, showing a slight decrease from the previous year [13]. - The competitive landscape saw changes in rankings, with several companies experiencing significant fluctuations in their monthly sales performance [20].

Domestic News - In April 2025, the industrial added value of enterprises above designated size increased by 6.1% year-on-year, with a month-on-month growth of 0.22% [3] - The Ministry of Transport reported that 98% of service areas nationwide are equipped with charging piles, totaling 35,000 charging piles and 51,000 charging parking spaces [4] - Tianjin Public Transport has launched a pilot operation of L4 level autonomous driving buses, which can operate without human intervention [5] - Great Wall Motors introduced a "global unique" all-power intelligent platform compatible with five power forms, designed for luxury vehicles [6] - BYD and Shenzhou Car Rental have reached a strategic cooperation agreement to promote sustainable development in the car rental market [7] - Honda plans to develop a new generation of ADAS with Momenta, focusing on electric and hybrid vehicle competitiveness [8] - Li Auto's supercharging stations have exceeded 2,300, with over 12,500 charging piles installed across 31 provinces [9] - NIO Energy and Shenyang Zhongde Group signed a cooperation agreement to build 100 charging and swapping stations [10] International News - Honda aims to increase hybrid vehicle sales by 2.2 million units by 2030, adjusting its electric vehicle investment down by 30% [12] - BMW has begun road testing its first electric vehicles equipped with solid-state batteries, marking a significant advancement in battery technology [13] - Toyota plans to launch multiple new electric vehicle models in the U.S. market, seizing opportunities amid Tesla's declining sales [14] - Waymo has received approval to expand its fully autonomous taxi service in the San Francisco Bay Area [15] Commercial Vehicles - Shanxi province will implement a full subsidy for hydrogen fuel truck tolls starting June 1, 2025 [16] - Foton Motor and Huawei Digital Energy have partnered to accelerate the electrification of heavy-duty trucks [17] - Guoxuan High-Tech launched the G-series heavy-duty truck standard box, achieving breakthroughs in battery technology and longevity [18] - Jiangling's new Yuhang model is set to launch on May 21, 2025, enhancing its competitiveness in the market [19]

在之后的交流环节，企业代表踊跃分享转型经验。金砺成汽车负责人表示，"我们今年计划投资约80万 元推进数字化转型，目前生产线的改造已启动。今天的政策解读非常及时，特别是关于登记贯标和政策 申报的流程，为我们下一步申请提供了明确指引。" 正兴汽车总经理接过话筒称，"我们响应集团号召，从年初就开始接触服务商，计划从供应链管理切入 转型，会上联通分享的数转案例，给我们很大启发，希望管委会能多组织相关活动，安排标杆企业参 观，也欢迎参会服务商上门诊断。" 会议系统地展示了当前辖区企业数字化转型的阶段性成果并公布了未来发展规划，明确将从政策扶持、 平台搭建、人才培育、金融赋能等维度精准发力，打造普惠性服务平台，全面提升区域汽车产业竞争 力。同时，会议还对省、市、县各级针对中小企业数字化转型的奖补政策进行了深入解读，号召企业积 极把握政策机遇，聚焦核心业务，精准定位转型痛点，以"一把手工程"推进数字化转型升级。 本次会议通过政策解读、案例分享、需求对接与战略部署，为汽车行业转型描绘清晰"路线图"，号召供 应链企业深化合作，加快转型步伐。 会上，各单位、企业围绕数字化转型进行深入研讨，南昌县科工局解读了县区相关政策，中国信息 ...

Corporate Strategy and Leadership - The company aims to become Asia's best-in-class integrator of the movie entertainment industry[2]. - The strategy focuses on enlarging and strengthening the theatrical exhibition network to enhance shareholder value[3]. - The company plans to integrate its distribution business to achieve greater synergy[4]. - The management emphasizes effective execution of business strategy and compliance with internal regulations[4]. - The company is committed to the development of the film industry and aims to offer innovative offerings to customers[4]. - The company has a strong focus on maximizing shareholders' value while contributing to societal betterment[3]. - The company has a focus on mergers and acquisitions as part of its corporate strategy under Ms. Chow's leadership[15]. - The company is expanding its business operations in the non-mainland China region, leveraging the expertise of its executive team[15]. - The Group's strategic direction includes market expansion and potential mergers and acquisitions[35]. - The Group's financial performance and strategic initiatives are aimed at driving long-term growth[39]. Financial Performance - The Group's revenue decreased by 7% to HK$734.3 million in 2024, down from HK$792.8 million in 2023, primarily due to a lack of strong film releases[46]. - The Group's consolidated revenue from continuing operations decreased by 7% to HK$734.3 million in 2024, down from HK$792.8 million in 2023[93]. - The Group's loss attributable to equity holders increased to HK$242.6 million in 2024, compared to a loss of HK$90.4 million in the previous year[97]. - Gross profit for the year was HK$484.2 million, a decrease of 7% compared to HK$518.4 million in 2023[98]. - The Group recorded a non-recurring net gain of HK$285.6 million from the disposal of VS, contributing to a net loss attributable to equity holders of HK$242.6 million, compared to a loss of HK$90.4 million in the previous year[99]. - The Group incurred impairment losses on non-financial assets of HK$126.7 million in 2024, significantly higher than HK$11.6 million in 2023[96]. - The Group's investment in the 360 Theater resulted in a provision for impairment loss of HK$315.5 million due to disappointing financial performance[66]. Market and Operational Insights - Hong Kong's box office takings dropped to HK$1.34 billion in 2024, the lowest level in 13 years, despite two local productions surpassing HK$100 million at the box office[43]. - Singapore contributed 80% of the Group's total segment revenue in 2024, up from 77% in 2023, with Golden Village holding 53% of the country's box office and 47% of total installed screens[44]. - The film exhibition business accounted for 92% of the Group's total segment revenue for the year ended December 31, 2024[67]. - Total admissions fell by 6% from 7.1 million in 2023 to 6.6 million in 2024, primarily due to the absence of strong film releases[68]. - Average ticket price decreased from HK$71.5 to HK$68.2 during the year[68]. - The Group closed 2 cinemas with a total of 7 screens during the year[75]. - The Group's Singapore operations contributed 80% of total segment revenue in 2024, maintaining its market leadership with 53% of the country's total box office[81][84]. Governance and Compliance - The Board has complied with the Corporate Governance Code provisions for the year ended December 31, 2024, except for provisions C.1.6 and F.2.2[121]. - The Company has adopted a code for Directors' securities transactions that is no less stringent than the Model Code, with all Directors confirming compliance for the year ended December 31, 2024[127]. - The Board consists of five executive Directors and three independent non-executive Directors, responsible for overseeing the management of the Group's business[128]. - The Company has implemented sufficient insurance coverage for Directors' liabilities arising from legal actions related to corporate activities[135]. - The Board plays a crucial role in defining the Group's purpose, values, and strategic direction, fostering a culture focused on innovation and compliance[119]. - The Company has adhered to the Corporate Governance Code and has made its terms of reference available to shareholders[162]. - All independent non-executive Directors have confirmed their independence in accordance with the Listing Rules[160]. Human Resources and Diversity - As of December 31, 2024, the Group employed 244 permanent employees, a significant reduction from 441 in 2023, reflecting adjustments in operational efficiency[113]. - The Group's employee composition as of December 31, 2024 included 593 males (52.90%) and 528 females (47.10%), showing a slight increase in female representation compared to the previous year[192]. - The board consists of 8 members, with 3 women, representing approximately 38% gender diversity[195]. - The Board adopted a Board Diversity Policy on 28 August 2013 to enhance performance quality and ensure a diverse range of skills and experiences[190]. - The Nomination Committee will review the Board Diversity Policy in a timely manner to ensure its effectiveness[190]. Future Outlook and Strategic Initiatives - The Group plans to adopt a conservative approach for future operations and expansion, focusing on creating integrated entertainment hubs[49]. - The Group aims to introduce a variety of unique content and high-quality services to enhance cinema experiences[49]. - The ongoing geopolitical tensions and economic uncertainties are expected to impact the film industry and market recovery[48]. - In Hong Kong, the Group will seek quality film distribution projects while exploring options to minimize operating losses[107]. - The Group aims to transform existing cinemas into integrated lifestyle hubs, enhancing customer experience with new product offerings[108].

Core Viewpoint - Jiangling Motors reported a year-on-year sales increase of 2.27% in the first quarter, indicating steady progress in its operations and a commitment to its new energy strategy [1] Sales Performance - The company sold a total of 76,007 vehicles in the first quarter, reflecting a 2.27% increase compared to the same period last year [1] - Overseas sales reached 26,221 vehicles, marking a significant year-on-year growth of 17.8% [1] Strategic Initiatives - Jiangling Motors has launched a new power platform named "Blue Flame Power" as part of its ongoing transition to new energy vehicles [1] - The company is actively expanding its product lineup in the new energy sector, covering light commercial vehicles, pickups, and light trucks [1]