（2）建議根據新購股權計劃授出購股權 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第17章及香 港法例第571章證券及期貨條例而刊發。 WANKA ONLINE INC. 萬 咖 壹 聯 有 限 公 司 * （於開曼群島註冊成立的有限公司） （股份代號：1762） （1）建議採納新購股權計劃及 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的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購任何本公司證券的邀請或要約。 1. 建議採納新購股權計劃 背景 茲提述萬咖壹聯有限公司（「本公司」，連同其附屬公司統稱「本集團」）於二零二五年九月二十 九日刊發的公告。 本公司建議採納一項新購股權計劃（「新購股權計劃」）。 新購股權計劃符合上市規則第17章之最新規定。 1 新購股權計劃之目的 新購股權計劃旨在向合資格參與者提供收購本公司所有權權益的機會，並鼓勵合資格參與者為提升 本公司及其股份（「股份」）價值而努力，以符合本公司及其股東（「股 ...

Summary of WanKa YiLian Conference Call Company Overview - WanKa YiLian has expanded its services to iOS, HarmonyOS, and Android, holding approximately 50% market share in its niche, leading the industry [2][4] - The company has established close partnerships with major smartphone manufacturers including Apple, Huawei, Xiaomi, OPPO, vivo, and Honor, with 90% of media placements focused on these manufacturers [2][5] - Since its IPO in 2018, WanKa YiLian has seen significant revenue growth, achieving a 30% increase in 2024 and projected to reach 50% growth in 2025 [2][5] Business Model and Revenue Streams - The company operates three technology standard alliances: 1. **Hardcore Alliance**: Unifies Android app store standards, enhancing market efficiency [6][7] 2. **Quick Application Alliance**: Integrates mini-program functionalities across HarmonyOS and Android [6] 3. **Gold Standard Alliance**: Details not provided [6] - Revenue generation is primarily through advertising and game distribution, with significant contributions from partnerships with major gaming developers like Tencent and NetEase [5] Industry Dynamics - The introduction of Generative Content (GEO) as an AI search technology poses a significant challenge to traditional search engines like Baidu, which rely on bidding and click-based revenue models [2][8] - The shift towards AI-driven search engines is expected to disrupt existing market structures, with companies needing to adapt to new content quality and utility standards [4][13] Advertising and Marketing Changes - The advertising logic has shifted from repetitive exposure to precise targeting, with click-through rates potentially increasing to 33% in the AI search recommendation era [14] - AI enhances ad placement by reducing irrelevant ads and improving user experience through intent recognition and question rewriting [11] Future Outlook - The GEO market is anticipated to surpass traditional browser markets due to its advanced capabilities in multimedia content delivery and user interaction [21][22] - Apple's plan to launch its own AI search engine could significantly impact the market, as evidenced by a 9% drop in Google's stock following the announcement [20] Key Performance Indicators - In app store optimization, key metrics differ from traditional SEO, focusing on exposure, click conversion rates, downloads, registrations, and recharge rates [23] - The decision-making process in AI search is streamlined, eliminating many traditional metrics and focusing on direct user engagement and purchasing behavior [23] Revenue Optimization Strategies - Domestic companies primarily rely on traffic monetization, emphasizing high ROI on advertising spend [24][25] - WanKa YiLian's business model includes advertising commissions and revenue sharing with clients, with discussions on profit-sharing ratios occurring when ROI exceeds 150% [25]

Core Viewpoint - The stock performance of WanKa YiLian (1762.HK) has been impressive, with a rise of over 15% as of January 12, driven by its strategic positioning in the GEO (Generative Search Engine Optimization) sector and its advantages in ecological collaboration [1] Group 1: Market Trends - The global AI search user base is projected to exceed 1.98 billion by 2025, indicating a rapid shift in user information retrieval habits from "search links" to "generated answers" [2] - By 2026, approximately 25% of traditional search traffic is expected to transition to AI Q&A platforms, creating substantial demand for GEO [2] Group 2: Company Positioning - WanKa YiLian is establishing a comprehensive competitive advantage suitable for the GEO era, positioning itself as a pioneer and potential beneficiary in the sector [3] - The company has deep partnerships with manufacturers to secure core traffic entry points and has accumulated vast amounts of data, totaling 28 billion records, with over 7.2 million new records added daily [3] - Daily data queries reach 2.35 million, with a data scanning volume of 15.8 TB, enabling the company to accurately analyze user search intentions and generate structured content for AI citation [3] Group 3: Technological Advancements - The company is investing in AI technology to build core capability barriers, including collaboration with Alibaba Cloud to develop AI agents for various life services [3] - Continuous investment in AI data annotation and corpus construction is being made, alongside the establishment of standardized AI data interface platforms with top mobile manufacturers [3] Group 4: Business Model Evolution - GEO is set to transform the commercial monetization landscape, shifting from low advertising revenue to high-value service commission models for mobile manufacturers [4] - WanKa YiLian acts as a crucial bridge between mobile manufacturers and application ecosystems, leveraging its experience in commission monetization from gaming partnerships to expand into diverse transaction applications like ride-hailing, food delivery, and e-commerce [4]

Summary of the Conference Call Company and Industry Overview - **Company**: 万咖壹联 (Wanka Yilian) - **Industry**: Mobile Advertising and AI Technology - **Market Position**: Holds over 50% market share in mobile advertising, collaborating with major smartphone manufacturers like Apple and Huawei, and covering over 1,300 gaming companies including Tencent and NetEase, reaching approximately 2 billion mobile users [2][4][3]. Core Insights and Arguments - **Strategic Partnerships**: The company has formed strategic alliances with top smartphone manufacturers, enhancing its ecosystem services and solidifying its market position [4][3]. - **AI Integration**: The introduction of generative AI, such as the AI assistant Doubao, is transforming information search and advertising effectiveness, leading to improved ROI for ad campaigns [2][5][9]. - **Advertising Evolution**: The shift from traditional click-based advertising to AI-driven demand fulfillment is expected to lower costs and enhance user experience, with a focus on structured and tagged content for better targeting [6][9]. - **Mobile Manufacturer Strategies**: Major manufacturers like Huawei and Xiaomi are developing their own AI search engines and collaborating with third-party models to enhance user experience [11][21]. Additional Important Points - **Content Quality**: New quality content must be innovative, practical, and data-supported, with a focus on quantitative analysis to provide value [8]. - **Business Model Progress**: The company has seen significant revenue from its browser-related business, with 25% of income derived from GO-related activities, and aims to further enhance this with AI technology [16][18]. - **GEO Impact**: Generative Search Engine Optimization (GEO) is in its early stages but already contributes 25% to 40% of total revenue in browser and search engine operations, indicating strong future growth potential [18]. - **User Experience Changes**: The application of GO technology is expected to streamline user interactions, making product searches and purchases more efficient, thus allowing users to focus on more important tasks [20]. - **Commercialization Opportunities**: Smartphone manufacturers are optimistic about the commercialization potential of AI and GEO integration, with companies like Xiaomi seeking to maintain control over their models while leveraging external AI capabilities [21][22].

Core Viewpoint - The stock of WanKa YiLian (01762) has seen a significant increase, with a rise of over 15% during trading, currently priced at 0.93 HKD, with a trading volume of 27.52 million HKD. The company is positioned as a leader in mobile internet game distribution through its self-developed AI advertising platform, benefiting from the growth of the AI marketing sector driven by GEO technology [1][6]. Company Summary - WanKa YiLian is recognized as a leading player in mobile internet game distribution, leveraging its self-developed AI advertising platform [1][6]. - The company has established unique advantages that are difficult to replicate, positioning itself as a pioneer and potential beneficiary in the GEO era [1][6]. - Key advantages include: - Deep partnerships with major mobile manufacturers, securing core traffic entry points for GEO [1][6]. - Accumulation of vast scenarios and data, which strengthens the foundation for GEO content optimization [1][6]. - Forward-looking AI technology layout, creating a core capability barrier for GEO [1][6]. - Upgraded commercial monetization models, which open up growth opportunities for GEO [1][6]. Industry Summary - According to Kaiyuan Securities, GEO is expected to become a rapidly growing direction in the AI marketing field, driving continued high growth in the AI marketing market and restructuring the industry chain, leading to a revaluation of marketing companies [1][6].

Core Viewpoint - The stock of WanKa YiLian (01762) surged over 15%, reaching a price of 0.95 HKD, with a trading volume of 25.16 million HKD, following Elon Musk's announcement to open-source the latest content recommendation algorithm on platform X, which is interpreted as a move into Generative Engine Optimization (GEO) [1] Company Summary - WanKa YiLian is a leading mobile internet game distribution company with a self-developed AI advertising platform, positioning itself as a potential beneficiary in the GEO era [1] - The company has established unique advantages that are difficult to replicate, including deep partnerships with major smartphone manufacturers, which allow it to capture core traffic for GEO [1] - WanKa YiLian has accumulated vast amounts of data and scenarios, solidifying its foundation for content optimization in GEO [1] - The company has made forward-looking investments in AI technology, creating barriers to entry for GEO core capabilities [1] - An upgraded commercial monetization model has opened up growth opportunities in the GEO space for the company [1] Industry Summary - The market perceives GEO as a rapidly growing direction in AI marketing, which is expected to drive significant growth in the AI marketing market size and reshape the industry chain structure [1] - Open-source securities suggest that GEO will lead to a revaluation of marketing companies, indicating a positive outlook for investments in this sector [1]

Group 1 - The core viewpoint of the article highlights that WanKa YiLian (01762) has seen a significant increase in stock price, rising over 15% to 0.95 HKD, with a trading volume of 25.16 million HKD [1] - Elon Musk announced on January 10 that he will open-source the latest content recommendation algorithm of the X platform within a week, which is interpreted by the market as Musk's entry into Generative Engine Optimization (GEO) [1] - Open-source securities believe that GEO will become a rapidly growing direction in the AI marketing field, driving continued high growth in the AI marketing market and restructuring the industry chain, leading to a revaluation of marketing companies [1] Group 2 - WanKa YiLian is a leading mobile internet game distribution company with a self-developed AI advertising platform, positioning itself as a potential beneficiary in the GEO era [1] - The company has established unique advantages that are difficult to replicate, including deep partnerships with major mobile manufacturers, which capture core traffic entry points for GEO [1] - WanKa YiLian has accumulated vast amounts of data and scenarios, solidifying the foundation for GEO content optimization, and has made forward-looking investments in AI technology to build core capability barriers for GEO [1] - The company is upgrading its commercial monetization model, which opens up growth space for GEO [1]

（文章来源：每日经济新闻） 每经AI快讯，万咖壹联(01762.HK)尾盘一度涨超13%，截至发稿涨12%，报0.84港元，成交额2415.81万 港元。 ...

Core Viewpoint - WanKa YiLian (01762) has seen a significant stock price increase, attributed to its recent certification as an official Apple Ads partner, enhancing its competitive position in the mobile ecosystem [1] Group 1: Company Achievements - WanKa YiLian's smart marketing platform, WanKa HuanJu, has officially passed Apple's review, becoming one of the few technology service providers in Greater China to receive this certification [1] - The certification strengthens WanKa YiLian's ecological barrier, positioning it as the only global platform recognized by Apple while being deeply integrated with Huawei's HarmonyOS and four major Android manufacturers [1] Group 2: Financial Performance - According to Yingli Securities, WanKa YiLian is a leading mobile internet AI marketing technology company, recognized as an "invisible champion" in game distribution and mobile advertising [1] - The company's overseas revenue surged by 439.1% year-on-year in the first half of 2025, reaching 41.9 million yuan, with expectations for even greater growth in the second half [1] - WanKa YiLian aims to increase its overseas revenue share to approximately 30% within the next 3-4 years, positioning it as a core growth engine [1] Group 3: Future Outlook - The company views AI mobile technology as a significant opportunity for the next 5-10 years and is actively making forward-looking technological reserves [1]

Core Viewpoint - WanKa YiLian (01762) has seen a significant stock price increase, rising over 13% and reaching HKD 0.84, with a trading volume of HKD 24.1581 million, following the certification of its smart marketing platform WanKa HuanJu by Apple as an official partner in Greater China [1][1][1] Group 1: Company Achievements - WanKa YiLian's platform is now one of the few technology service providers in Greater China to receive Apple Ads official partnership certification, enhancing its ecological barrier [1][1] - The company is recognized as a leading mobile internet AI marketing technology firm in China, being termed an "invisible champion" in game distribution and mobile advertising [1][1] Group 2: Financial Performance - According to Yingli Securities, WanKa YiLian's global strategy has shown significant results, with overseas revenue surging by 439.1% year-on-year in the first half of 2025, reaching CNY 41.9 million [1][1] - The company aims to increase the proportion of overseas revenue to approximately 30% within the next 3-4 years, positioning it as a core growth engine [1][1] Group 3: Future Outlook - WanKa YiLian views AI mobile technology as a significant opportunity for the next 5-10 years and is actively making forward-looking technological reserves [1][1]