截至月份: 2025年12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: 萬咖壹聯有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 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 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) | 01762 | 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 | | | 1,744,468,350 | | 25,875,000 | | 1,770,343,350 | | 增加 / 減少 (-) | | | -450,000 | | 450,000 | | | | 本月底結存 | | | 1,744,018,350 | | 26,325,000 | | 1,770,343,35 ...

Core Viewpoint - The recent Apple Ads certification marks a significant strategic milestone for WanKa YiLian, positioning the company uniquely in the global mobile advertising landscape and potentially leading to a comprehensive revaluation in the capital market [1][3]. Group 1: Certification Significance - The Apple Ads certification is a high-level recognition of WanKa YiLian's AI advertising technology, data compliance system, and global service network [3]. - This certification allows WanKa YiLian to access Apple's core data interfaces, enhancing its advertising precision on iOS and creating a significant competitive advantage over ordinary agencies [5]. Group 2: Revenue Growth - In the first half of 2025, WanKa YiLian's overseas revenue reached 41.9 million yuan, a staggering increase of 439.1% year-on-year, driven by direct service to Southeast Asian advertisers [6]. - The company anticipates that its overseas revenue will exceed 200 million yuan for the full year 2025, indicating a potential 3.77 times increase in the second half compared to the first half [7]. Group 3: Ecosystem Dominance - WanKa YiLian is the only third-party platform globally that has received recognition from Apple while being deeply integrated with Huawei's HarmonyOS and major Android manufacturers, showcasing its strong market position [8]. - The company covers over 95% of game distribution traffic in Chinese Android app stores and is a preferred technical partner across multiple industries on iOS [8]. Group 4: Future Business Model Transformation - The company is positioned to transition from an advertising revenue model to a commission-based model as the industry evolves towards AI-driven services, with projected ARPU values significantly increasing by 2027 [10][11]. - WanKa YiLian has established a multi-dimensional strategy to capitalize on the AI mobile era, including data collection, standard-setting, and application development [12]. Group 5: Valuation and Market Potential - The current market valuation of WanKa YiLian is approximately 1.5 billion HKD, which is significantly undervalued compared to the average 25x PE in the AI marketing sector [13]. - If the market recognizes WanKa YiLian as a core operator in the AI Agent ecosystem, a substantial revaluation could occur, with potential valuations reaching 600 billion HKD based on projected revenues [14]. Group 6: Conclusion - The Apple Ads certification is not an endpoint but a starting point for WanKa YiLian's journey from a hidden champion in China to a global AI marketing giant, with significant growth expected in the coming years [15].

Core Insights - The article highlights that 万咖壹联 has achieved a significant milestone by becoming an official Apple Ads partner, marking a strategic turning point in its development and positioning within the mobile marketing industry [1][3]. Group 1: Certification Significance - The Apple Ads partnership certification is a recognition of 万咖壹联's AI advertising technology, data compliance, and global service network, allowing the company to bridge the gap between Android and iOS platforms [3][4]. - The certification provides 万咖壹联 access to core data interfaces from Apple, enhancing its advertising precision on iOS and creating a competitive edge over ordinary agencies [5]. Group 2: Revenue Growth and Market Expansion - In the first half of 2025, 万咖壹联's overseas revenue surged to 41.9 million yuan, a year-on-year increase of 439.1%, driven by its local team in Singapore servicing Southeast Asian advertisers [6]. - The company anticipates that its overseas revenue will exceed 200 million yuan for the entire year, indicating a significant growth trajectory [7]. Group 3: Ecosystem Dominance - 万咖壹联 is positioned as the only third-party platform globally that integrates Android, iOS, and HarmonyOS, enhancing its market dominance [7][8]. - The company has established itself as a core agent for major Android manufacturers and has deep partnerships with Apple and Huawei, solidifying its competitive barrier [9]. Group 4: Future Industry Evolution - The article discusses the transition of the advertising industry from a focus on CPI/CPM to a model based on AI data services and transaction commissions, predicting a substantial increase in ARPU values in the coming years [10][11]. - 万咖壹联 is preparing for this shift by developing capabilities in AI data collection and establishing itself as a key player in the future AI ecosystem [12]. Group 5: Valuation and Market Potential - The management of 万咖壹联 has provided clear guidance on future growth, projecting a tenfold increase in overseas revenue and over 50% growth in AI marketing business revenue by 2025 [13]. - The current market valuation of 万咖壹联 is significantly lower than the average for AI marketing companies, suggesting a potential for substantial revaluation as the company transitions to an AI technology platform [15][16].

Core Insights - The article highlights that WanKa YiLian (01762) has achieved a significant milestone by becoming an official Apple Ads partner in Greater China, marking a strategic identity authentication in its ten-year development journey [1][3]. Group 1: Certification Significance - The Apple Ads partnership certification is a recognition of WanKa YiLian's AI advertising technology, data compliance system, and global service network, allowing the company to bridge the gap between Android and iOS ecosystems [3][6]. - The certification serves as a "ticket" to the global game rules, with stringent selection criteria focusing on AI algorithm capabilities, cross-cultural operational experience, and data security compliance [3][6]. Group 2: Technological Advancements - WanKa YiLian's self-developed platform, Ad Maven (ADM), features three core technological breakthroughs: 1. An intelligent budget allocation engine that improves advertising ROI by over 30% based on 28 billion historical data points [3][4]. 2. A real-time SOV battlefield perception system that refreshes display share data every 15 minutes, helping clients reduce customer acquisition costs by 40% [3][4]. 3. A full lifecycle automation loop that replaces 80% of repetitive manual operations, enhancing operational efficiency to five times the industry average [4][6]. Group 3: Revenue Growth and Market Expansion - In the first half of 2025, WanKa YiLian's overseas revenue reached 41.9 million yuan, a staggering increase of 439.1% year-on-year, driven by its local team in Singapore serving Southeast Asian advertisers [7][8]. - The certification is expected to accelerate WanKa YiLian's international strategy, enhancing market access, client structure, and cross-ecosystem collaboration [7][8]. Group 4: Ecosystem Dominance - WanKa YiLian is positioned as the only third-party platform globally that integrates Android, iOS, and HarmonyOS, solidifying its competitive edge in the mobile advertising ecosystem [8][10]. - The company has established deep partnerships with major players like Huawei and has become a platinum agent for Huawei's "Whale Energy" program, enhancing its market presence [10][11]. Group 5: Future Growth and Valuation - The management has indicated that overseas revenue is expected to exceed 200 million yuan in 2025, with a projected 10-fold increase in overseas income and over 50% growth in AI marketing business revenue [15][16]. - Current market valuation of WanKa YiLian is significantly below the average for AI marketing peers, suggesting a potential for substantial revaluation as the company transitions from an advertising agency to an AI technology platform [16][17].

Core Insights - Multiple companies, including Tencent Holdings and China Petroleum & Chemical Corporation, conducted share buybacks on December 5, 2025, with Tencent leading in both volume and monetary value [1][2] Company Summaries - **Tencent Holdings (00700)**: Repurchased 1.046 million shares for a total of 636 million, with a year-to-date total of 85.148 million shares, representing 0.927% of total share capital [2] - **China National Offshore Oil Corporation (01919)**: Bought back 3 million shares for 41.6745 million, with a cumulative total of 6.9543 million shares, accounting for 2.415% of total share capital [2] - **Kuaishou-W (01024)**: Acquired 438,000 shares for 29.9859 million, with a year-to-date total of 682,460 shares, representing 0.159% of total share capital [2] - **Fenbi (02469)**: Conducted a buyback of 6.657 million shares for 21.0954 million, with a cumulative total of 26.657 million shares, accounting for 1.193% of total share capital [2] - **Jinxin Fertility (01951)**: Repurchased 7.722 million shares for 19.7977 million, with a total of 7.722 million shares year-to-date, representing 0.280% of total share capital [2] - **Yum China (09987)**: Engaged in two buybacks, totaling 57,000 shares for 19.1905 million, with a cumulative total of 16.2024 million shares, accounting for 4.350% of total share capital [2] - **China Feihe (06186)**: Bought back 3 million shares for 12.3 million, with a cumulative total of 208 million shares, representing 2.295% of total share capital [2] - **Haier Smart Home (06690)**: Acquired 450,000 shares for 12.1991 million, with a total of 330,000 shares year-to-date, representing 0.116% of total share capital [2] - **Vitasoy International (00345)**: Repurchased 1.302 million shares for 8.6504 million, with a cumulative total of 1.928 million shares, accounting for 1.837% of total share capital [2] - **Coolpad Group (02369)**: Conducted a buyback of 4.144 million shares for 5.5725 million, with a total of 15.048 million shares year-to-date, representing 3.925% of total share capital [2]

本文源自：格隆汇 格隆汇12月5日丨万咖壹联(01762.HK)发布公告，2025年12月5日耗资32.85万港元回购45万股，回购价 格每股0.73港元。 ...

万咖壹联(01762)发布公告，于2025年12月5日该公司斥资32.85万港元回购45万股，回购价格为每股0.73 港元。 ...

智通财经APP讯，万咖壹联(01762)发布公告，于2025年12月5日该公司斥资32.85万港元回购45万股，回 购价格为每股0.73港元。 ...

| 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) | 01762 | 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11月30日 | | 1,744,468,350 | | 25,875,000 | | 1,770,343,350 | | 1). 購回股份 (股份被持作庫存股份) | | | -450,000 | 0.0258 % | 450,000 HKD | 0.73 | | | 變動日期 2025年 ...

Core Insights - The integration of system-level AI agents into mobile operating systems by leading tech companies marks the beginning of a transformative industry change in the AI mobile ecosystem value chain and profit redistribution [1] - WanKaw YiLian (01762) has emerged as a unique platform company with system-level entry capabilities, becoming known as the "first stock of AI agents" due to its deep ties with major smartphone manufacturers and a clear commercialization path for AI agents [1] Ecosystem Positioning - WanKaw YiLian plays a crucial role as an infrastructure provider in the AI agent ecosystem, integrating resources from terminal manufacturers and standardized service interfaces [2] - The company has established exclusive partnerships with major smartphone manufacturers, supporting iOS, Android, and HarmonyOS, and has seen a 439% year-on-year growth in overseas market revenue in the first half of 2025 [2] - The core competitiveness of the company lies in its leadership in the fast application ecosystem, having established a lightweight application framework that serves as an ideal technical carrier for AI agent services [2][3] Business Model Evolution - WanKaw YiLian is creating a high-value growth path for the mobile industry by constructing a new service ecosystem centered around AI agents, addressing the structural challenges faced by mainstream smartphone manufacturers [4] - The new model allows users to access services directly through system-level AI agents, potentially enabling smartphone manufacturers to capture a significant share of the service market [5] - The company is actively validating the technical feasibility and user experience of natural language interactions with third-party services, laying the groundwork for large-scale commercialization [5] Value Reassessment - WanKaw YiLian is at a critical juncture for value reconstruction, similar to AppLovin's strategic transformation, with a unique three-layer network structure connecting terminal manufacturers, AI capabilities, and commercial services [7] - The company is expected to benefit from the deployment of AI marketing agents, which will enhance advertising return on investment and improve profit margins [8] - The company’s R&D expenses increased by 25.8% year-on-year in the first half of 2025, indicating a strong commitment to AI and ecosystem capabilities while maintaining healthy cash flow [8] Long-term Outlook - The rapid increase in AI mobile penetration is projected to lead to explosive growth in service commission revenue, contributing to the company's second growth curve [8] - WanKaw YiLian aims to evolve into a "smart agent service distribution and operation platform" for the AI mobile era, with plans to replicate its ecosystem model across various IoT devices [8] - The company is positioned as a rare platform company in the Hong Kong stock market, with a complete AI agent ecosystem operation capability, which could lead to a significant revaluation of its stock as market recognition grows [9][10]