[Supplemental Announcement: Regarding Annual Reports from 2020 to 2024](index=1&type=section&id=%E8%A3%9C%E5%85%85%E5%85%AC%E5%91%8A%EF%BC%9A%E6%9C%89%E9%97%9C2020%E5%B9%B4%E8%87%B32024%E5%B9%B4%E5%B9%B4%E5%A0%B1) [Supplemental Information on the 2020 Annual Report](index=1&type=section&id=(1)%20%E6%9C%89%E9%97%9C2020%E5%B9%B4%E5%B9%B4%E5%A0%B1%E4%B9%8B%E8%A3%9C%E5%85%85%E8%B3%87%E6%96%99) This announcement supplements the remuneration details for CEO Mr. Zhao Weiwen in FY2020, whose total compensation was RMB 514,000 - This announcement provides supplementary remuneration information for a non-director chief executive officer not fully disclosed in the 2020 Annual Report[5](index=5&type=chunk) Remuneration Details for CEO Mr. Zhao Weiwen in FY2020 (RMB in thousands) | Name | Salary | Discretionary Bonus | Other Benefits | Pension Contribution | Total | | :--- | :--- | :--- | :--- | :--- | :--- | | Mr. Zhao Weiwen | 340 | 144 | 23 | 7 | 514 | [Supplemental Information on the 2021 Annual Report](index=2&type=section&id=(2)%20%E6%9C%89%E9%97%9C2021%E5%B9%B4%E5%B9%B4%E5%A0%B1%E4%B9%8B%E8%A3%9C%E5%85%85%E8%B3%87%E6%96%99) This announcement supplements the remuneration details for CEO Mr. Zhao Weiwen in FY2021, whose total compensation increased to RMB 665,000 - This announcement provides supplementary remuneration information for a non-director chief executive officer not fully disclosed in the 2021 Annual Report[8](index=8&type=chunk) Remuneration Details for CEO Mr. Zhao Weiwen in FY2021 (RMB in thousands) | Name | Salary | Discretionary Bonus | Other Benefits | Pension Contribution | Total | | :--- | :--- | :--- | :--- | :--- | :--- | | Mr. Zhao Weiwen | 465 | 135 | 35 | 30 | 665 | [Supplemental Information on the 2022 Annual Report](index=3&type=section&id=(3)%20%E6%9C%89%E9%97%9C2022%E5%B9%B4%E5%B9%B4%E5%A0%B1%E4%B9%8B%E8%A3%9C%E5%85%85%E8%B3%87%E6%96%99) This announcement supplements the remuneration details for CEO Mr. Zhao Weiwen in FY2022, whose total compensation grew significantly to RMB 936,000 - This announcement provides supplementary remuneration information for a non-director chief executive officer not fully disclosed in the 2022 Annual Report[13](index=13&type=chunk) Remuneration Details for CEO Mr. Zhao Weiwen in FY2022 (RMB in thousands) | Name | Salary | Discretionary Bonus | Other Benefits | Pension Contribution | Total | | :--- | :--- | :--- | :--- | :--- | :--- | | Mr. Zhao Weiwen | 476 | 380 | 36 | 44 | 936 | [Supplemental Information on the 2023 Annual Report](index=4&type=section&id=(4)%20%E6%9C%89%E9%97%9C2023%E5%B9%B4%E5%B9%B4%E5%A0%B1%E4%B9%8B%E8%A3%9C%E5%85%85%E8%B3%87%E6%96%99) This announcement provides supplementary remuneration data for CEO Mr. Zhao Weiwen for FY2023, presented for comparison in the FY2024 section - This announcement provides supplementary remuneration information for a non-director chief executive, with specific data presented for comparison in the FY2024 supplement[14](index=14&type=chunk) - The total remuneration for CEO Mr. Zhao Weiwen in FY2023 was **RMB 744,000**[22](index=22&type=chunk) [Supplemental Information on the 2024 Annual Report](index=5&type=section&id=(5)%20%E6%9C%89%E9%97%9C2024%E5%B9%B4%E5%B9%B4%E5%A0%B1%E4%B9%8B%E8%A3%9C%E5%85%85%E8%B3%87%E6%96%99) This announcement amends and provides full disclosure of the remuneration for directors and chief executives for FY2024 and FY2023 for comparison [Remuneration of Directors and Chief Executive for FY2024](index=5&type=section&id=%E6%88%AA%E8%87%B32024%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%AD%A2%E5%B9%B4%E5%BA%A6%E8%96%AA%E9%85%AC) This section details the FY2024 remuneration for all directors and the chief executive, with total compensation amounting to RMB 6,183,000 Remuneration Details for Directors and Chief Executive in FY2024 (RMB in thousands) | Name | Position | Fees | Salary | Discretionary Bonus | Other Benefits | Pension Contribution | Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Mr. Fu Zhengjun | Executive Director | – | 2,051 | 1,678 | 89 | 26 | 3,844 | | Mr. Mai Shi'en | Executive Director | – | 625 | 201 | 24 | 59 | 909 | | Ms. Cao Fei | Non-executive Director | 137 | – | – | – | – | 137 | | Mr. Xiong Xiangdong | Non-executive Director | 137 | – | – | – | – | 137 | | Mr. Tse Ming Lin | Independent Non-executive Director | 137 | – | – | – | – | 137 | | Mr. Wang Mingchun | Independent Non-executive Director | 137 | – | – | – | – | 137 | | Mr. Chan Wing Yuen | Independent Non-executive Director | 137 | – | – | – | – | 137 | | Mr. Zhao Weiwen | Chief Executive Officer | – | 665 | – | 35 | 45 | 745 | | **Total** | | **685** | **3,341** | **1,879** | **148** | **130** | **6,183** | [Remuneration of Directors and Chief Executive for FY2023 (Comparative Data)](index=6&type=section&id=%E6%88%AA%E8%87%B32023%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%AD%A2%E5%B9%B4%E5%BA%A6%E8%96%AA%E9%85%AC) This section details the FY2023 remuneration for all directors and the chief executive for comparison, with total compensation amounting to RMB 5,747,000 Remuneration Details for Directors and Chief Executive in FY2023 (RMB in thousands) | Name | Position | Fees | Salary | Discretionary Bonus | Other Benefits | Pension Contribution | Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Mr. Fu Zhengjun | Executive Director | – | 1,500 | 1,795 | 93 | 38 | 3,426 | | Mr. Mai Shi'en | Executive Director | – | 640 | 180 | 24 | 59 | 903 | | Ms. Cao Fei | Non-executive Director | 135 | – | – | – | – | 135 | | Mr. Xiong Xiangdong | Non-executive Director | 135 | – | – | – | – | 135 | | Mr. Tse Ming Lin | Independent Non-executive Director | 135 | – | – | – | – | 135 | | Mr. Wang Mingchun | Independent Non-executive Director | 101 | – | – | – | – | 101 | | Mr. Chan Wing Yuen | Independent Non-executive Director | 135 | – | – | – | – | 135 | | Mr. Yang Wenbin | Independent Non-executive Director | 33 | – | – | – | – | 33 | | Mr. Zhao Weiwen | Chief Executive Officer | – | 665 | – | 35 | 44 | 744 | | **Total** | | **674** | **2,805** | **1,975** | **152** | **141** | **5,747** | [Conclusion](index=8&type=section&id=%E7%B5%90%E8%AB%96) This supplemental announcement should be read in conjunction with the original annual reports from 2020 to 2024, as all other information remains unchanged - This is a supplemental announcement intended to clarify and complete information disclosures in past annual reports, particularly regarding executive remuneration[24](index=24&type=chunk)

6月3日港股公司回购一览 腾讯控股回购数量99.40万股，回购金额5.00亿港元，回购最高价为505.000港元，最低价为501.000港 元，年内累计回购金额270.31亿港元；友邦保险回购数量600.00万股，回购金额4.03亿港元，回购最高 价为67.650港元，最低价为66.550港元，年内累计回购金额114.12亿港元；快手-W回购数量200.00万 股，回购金额1.02亿港元，回购最高价为51.350港元，最低价为50.950港元，年内累计回购金额19.11亿 港元。 以金额进行统计，6月3日回购金额最多的是腾讯控股，回购金额为5.00亿港元；其次是友邦保险，回购 金额为4.03亿港元；回购金额居前的还有快手-W、恒安国际等。回购数量上看，6月3日回购股数最多 的是友邦保险，当日回购量为600.00万股；其次是中远海发、有赞等，回购数量分别为462.70万股、 200.00万股。 值得关注的是，非凡领越本次回购为年内首次进行回购。本次回购5.00亿港元的腾讯控股，年内则进行 多次回购，合计回购金额为270.31亿港元。（数据宝） 证券时报·数据宝统计显示，6月3日有40家香港上市公司进行了股份回购 ...

Core Viewpoint - Tian Ge Interactive (01980.HK) reported a significant turnaround in its financial performance for the year ending December 31, 2024, achieving a revenue of 10.16 million RMB and a net profit of 20 million RMB, compared to a loss of 135 million RMB in the previous year [1][2][3]. Financial Performance - Revenue for 2024 was 10.16 million RMB, a decrease from 67.62 million RMB in 2023 [2]. - The company reported a gross profit of 8.1 million RMB, with a gross profit margin of 79.8%, down from 87.0% in the previous year [2]. - Net profit reached 19.92 million RMB, marking a net profit margin of 196.0%, a significant recovery from a net loss margin of 199.7% in 2023 [2]. - Earnings per share improved to 0.018 RMB from a loss of 0.114 RMB per share in the previous year [2]. Investment Strategy and Portfolio - The company has strategically invested in high-growth potential sectors, including social reasoning games, Southeast Asian e-commerce, and short video content in India, which contributed to its improved financial performance [3][5]. - As of December 31, 2024, Tian Ge Interactive's financial assets totaled 1.757 billion RMB, with significant holdings in fund investments, private investments, and wealth management products [6][7]. - The company’s investment portfolio includes stakes in emerging technology companies, which are expected to yield substantial returns due to their innovative business models and strong market potential [23][24]. Market Position and Valuation - Despite the positive financial results, the company's market capitalization is currently undervalued at approximately 662 million HKD (about 607 million RMB), compared to the average price-to-book ratio of 0.85 for the investment and asset management sector [8]. - The company’s cash and cash equivalents stood at 467 million RMB, indicating a strong liquidity position [8]. - The market perception of Tian Ge Interactive remains focused on its traditional live-streaming business, overlooking the hidden value in its technology investments, particularly in AI-related assets [25].

Summary of Key Points Core Viewpoint - On May 19, 38 Hong Kong-listed companies conducted share buybacks, totaling 38.39 million shares and an aggregate amount of HKD 831 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 979,000 shares for HKD 500 million, with a highest price of HKD 516.50 and a lowest price of HKD 503.00, bringing its total buyback amount for the year to HKD 21.53 billion [1][2]. - AIA Group repurchased 2.34 million shares for HKD 154 million, with a highest price of HKD 66.40 and a lowest price of HKD 64.75, totaling HKD 8.93 billion in buybacks for the year [1][2]. - China COSCO Shipping repurchased 5.56 million shares for HKD 79.36 million, with a highest price of HKD 14.40 and a lowest price of HKD 14.12, accumulating HKD 3.83 billion in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on May 19 was from Tencent Holdings at HKD 500 million, followed by AIA Group at HKD 154 million [1][2]. - In terms of share quantity, the largest buyback was conducted by Jieli Trading at 9.18 million shares, followed by China COSCO Shipping at 5.56 million shares and NetEase Technology at 4.67 million shares [1][2]. Group 3: Additional Buyback Information - Country Garden Services conducted its first buyback of the year, while Tencent Holdings has made multiple buybacks totaling HKD 21.53 billion [2][3]. - A detailed table of buybacks on May 19 includes various companies, their respective buyback shares, amounts, highest and lowest prices, and cumulative buyback amounts for the year [2][3].

Group 1 - The article reports on share buybacks conducted by various companies on May 12, 2025, with AIA Group (01299) having the largest buyback amount of 1.25 billion, purchasing 2 million shares [1][2] - Other notable buybacks include China COSCO Shipping Holdings (01919) with 4.21 million shares bought back for 53.77 million, and Times Electric (03898) with 1.43 million shares for 47.22 million [2][3] - The total number of shares repurchased by AIA Group in the year reached 5.93 billion, accounting for 5.276% of its total share capital [2] Group 2 - China Hongqiao Group (01378) repurchased 1.13 million shares for 15.96 million, representing only 0.380% of its total share capital [2] - Swire Properties (00019) bought back 181,000 shares for 12.67 million, with a total annual repurchase of 5.56 million shares, which is 6.652% of its total [2] - The buyback activity reflects a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their financial health [1][2]

Group 1 - The article reports on share buybacks conducted by various companies on April 30, 2025, highlighting the total amounts and quantities repurchased [1][2][3] - AIA Group (01299) had the largest buyback amount, repurchasing 3.7736 million shares for a total of 217 million [1][2] - China Merchants Industry Holdings (01919) and China Hongqiao Group (01378) also had significant buybacks, with 12.9715 million shares for 151 million and 4.6665 million shares for approximately 64.83 million respectively [2][3] Group 2 - The cumulative buyback amounts for the year show that AIA Group has repurchased a total of 584 million shares, representing 5.198% of its total share capital [2] - China Merchants Industry Holdings has repurchased 241 million shares, accounting for 7.530% of its total share capital [2] - Other notable companies include Times Electric (03898) with 8.016% of its total shares repurchased and Swire Properties (01972) with 1.530% [2][3] Group 3 - The buyback activities reflect a trend among companies to return capital to shareholders, with varying percentages of total share capital being repurchased across different firms [1][2] - Companies like FOSUN Pharma (02196) and Jitu Express (01519) have lower buyback percentages, at 1.800% and 0.645% respectively, indicating a more conservative approach [2][3] - The data suggests a strategic move by companies to enhance shareholder value amidst market conditions [1][2]

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 10,160,000, a significant decrease from RMB 67,621,000 in 2023[17]. - Online interactive entertainment service revenue dropped to RMB 5,641,000 from RMB 66,394,000, indicating a decline in this segment[17]. - Gross profit for 2024 was RMB 8,103,000, down from RMB 58,848,000 in 2023, resulting in a gross profit margin of 79.8% compared to 87.0%[17]. - The company reported a net profit of RMB 19,916,000 in 2024, a turnaround from a net loss of RMB 135,052,000 in 2023, achieving a net profit margin of 196.0%[17]. - Adjusted net profit for 2024 was RMB 20,215,000, compared to an adjusted net loss of RMB 132,844,000 in 2023, with an adjusted net profit margin of 199.0%[17]. - For the year ended December 31, 2024, the Group recorded total revenue of RMB10.2 million, a decrease of 85.0% from RMB67.6 million in the same period of 2023[22]. - Revenue from online interactive entertainment services decreased by 91.5% to RMB5.6 million for the Reporting Period, compared to RMB66.4 million for the same period in 2023[22]. - The profit attributable to owners of the Company was RMB20.0 million, with an adjusted net profit of RMB20.2 million and adjusted EBITDA of RMB25.8 million[23]. - The Group's gross profit margin for the reporting period was 79.8%, down from 87.0% in the previous year[52]. - The Group's profit attributable to owners of the Company was RMB20.0 million, a significant recovery from a loss of RMB134.7 million in the same period of 2023[70][74]. - The adjusted net profit for the Group was RMB20.2 million, compared to a loss of RMB132.8 million in the previous year[82]. - The Group's adjusted EBITDA improved to RMB25.8 million from a loss of RMB120.6 million in the previous year[79]. Market Expansion and Strategy - The company has expanded into overseas markets, including Indonesia and the Middle East, which are becoming key growth engines for its live social video business[7]. - The company launched a series of live streaming mobile applications to capture the growing demand for mobile entertainment[7]. - Future outlook includes continued focus on overseas market expansion and enhancing product offerings in live streaming services[7]. - The company aims to leverage its strong domestic performance to drive growth in international markets[7]. - The Group is focusing on expanding its overseas live streaming business by integrating successful domestic business models with advanced technologies[24]. - The localized live streaming platform "KiWi Live" has gained popularity in Indonesia, contributing to the Group's market expansion efforts[28]. - The Group launched its self-developed social interaction platform "iMee Live" at the end of 2024, targeting Gen Z users in Southeast Asia[29]. - A joint investment in "Sila Chat" has resulted in significant revenue growth in 2024, with expectations for strong synergies in 2025[30]. Financial Position and Assets - Total assets increased to RMB 2,619,747,000 in 2024 from RMB 2,560,083,000 in 2023, while total liabilities rose to RMB 385,250,000 from RMB 307,099,000[17]. - Financial assets at fair value through profit or loss (FVTPL) increased by 12.6% to RMB1,757.2 million compared to RMB1,560.4 million as of December 31, 2023[86]. - The Group's cash and cash equivalents amounted to RMB467.0 million as of December 31, 2024, up from RMB364.1 million in the previous year[83][84]. - The fair value of financial assets measured at fair value through profit or loss increased by 12.6% to RMB1,757.2 million as of December 31, 2024, compared to RMB1,560.4 million as of December 31, 2023[87]. - Other financial instruments saw a significant increase in fair value from RMB825.9 million at the end of 2023 to RMB982.8 million at the end of 2024, representing a year-on-year increase of 19.0%[88]. - The fair value gain of other financial instruments rose from RMB24.7 million in 2023 to RMB58.4 million in 2024, reflecting the positive impact of the accommodative interest rate environment and strong market performance[91]. - Fund investments decreased by 10.6% to RMB479.6 million as of December 31, 2024, with a recognized fair value loss of RMB24.6 million during the reporting period[97]. - Private investments increased significantly, with the fair value rising from RMB98.7 million in 2023 to RMB163.2 million in 2024, marking a 65.3% increase[88]. - The fair value of listed equity securities increased by 36.8% to RMB60.7 million as of December 31, 2024, compared to RMB44.4 million as of December 31, 2023[105]. - Investments in wealth management products rose by 44.3% to RMB52.1 million as of December 31, 2024, from RMB36.1 million as of December 31, 2023[106]. Cost Management and Expenses - Selling and marketing expenses decreased by 76.1% year-on-year to RMB8.3 million, primarily due to lower domestic marketing expenses[53]. - Administrative expenses decreased by 24.3% year-on-year to RMB58.1 million, attributed to a reduction in employee-related expenses and operational costs[54]. - Research and development expenses decreased by 49.3% year-on-year to RMB8.9 million due to strategic restructuring of the R&D team[55]. - Staff costs decreased to RMB 43.4 million for the reporting period, down from RMB 68.4 million for the year ended December 31, 2023[127]. - Share-based compensation expenses for the reporting period were RMB 0.3 million, compared to nil for the year ended December 31, 2023[135]. Regulatory Compliance and Governance - The Group strictly complies with PRC laws and regulations, requiring all users to agree to terms of service upon account registration[179]. - The Company has developed a robust content monitoring system to filter inappropriate content on its platforms[179]. - The Group is monitoring compliance with local laws and regulations for its overseas live streaming platforms[180]. - The Interim Provisions on the Administration of Internet Culture require entities to obtain a Network Cultural Business Permit for providing online cultural products and services for profit[187]. - The online cultural business (except online music) is categorized as "prohibited" for foreign investment according to the current effective Guidance Catalogue[190]. - Foreign enterprises are prohibited from investing in the Internet publications business, including online games, as per the New Internet Publication Regulations[194]. - The Ministry of Culture (MOC) requires entities engaging in online performance activities to obtain a Network Cultural Business Permit, effective from January 1, 2017[191]. - The Virtual Currency Notice mandates that online game operators issuing virtual currency must apply for approval from the MOC and prohibits trading of such virtual currency[197]. - The storage period for online game players' purchase records must not be shorter than 180 days from the last service received, as per the Online Game Measures[200]. - The MOC and the Ministry of Commerce jointly issued regulations to strengthen the administration of online game virtual currency, effective June 3, 2010[200]. - Foreign investment in audio/visual program provision via the information network is prohibited according to the Several Opinions on Canvassing Foreign Investment into the Cultural Sector[195]. - The New Internet Publication Regulations require online game operators to obtain an Internet Publishing Services License to offer games directly to the public in China[192]. - The MOC has implemented measures to rectify operations to comply with the Online Performance Measures[191]. - The People's Bank of China is tasked with regulating virtual currency to prevent its impact on the real currency system[199]. Management and Leadership - Mr. Mak Shih On has extensive experience in financial management and operations, having served as CFO and COO of the group, contributing to strategic planning and execution[147]. - Ms. Cao Fei has been the Vice President of Finance at Weibo Corporation since September 2017, bringing significant corporate finance expertise[149]. - Mr. Tse Ming Lun Alan has nearly 23 years of experience in accounting and finance, previously working with KPMG and Techtronic Industries, focusing on financial analysis and M&A support[151]. - Mr. Wang Mingchun, appointed as an independent non-executive director in March 2023, has a background in media crisis management and government relations from his tenure at IDG Capital[155]. - Mr. Zhao Weiwen has over 28 years of experience in the Internet industry, previously managing key client departments at China Telecom, focusing on Internet network infrastructure[162].

Financial Performance - For the year ended December 31, 2024, the company reported revenue of RMB 10.16 million, a decrease of 85.0% compared to RMB 67.62 million in 2023[3]. - The company achieved a net profit of RMB 19.9 million, with a net profit margin of 196.0%, compared to a net loss of RMB 135.05 million in 2023[3]. - Adjusted EBITDA for the year was RMB 25.83 million, with an adjusted EBITDA margin of 254.2%, compared to a loss of RMB 120.56 million in the previous year[3]. - The operating profit for the year ended December 31, 2024, was RMB 17,850 thousand, compared to an operating loss of RMB 137,910 thousand in 2023[54]. - The net profit for the year ended December 31, 2024, was RMB 19,916 thousand, a significant recovery from a net loss of RMB 135,052 thousand in 2023[55]. - The adjusted net profit for the year ended December 31, 2024, was RMB 20.215 million, compared to an adjusted net loss of RMB 132.844 million for the same period in 2023, reflecting a significant turnaround in performance[29]. - The company reported a pre-tax profit of RMB 26,177,000 for the year ended December 31, 2024, compared to a pre-tax loss of RMB 123,778,000 for the year ended December 31, 2023[74]. - The company recorded a profit of RMB 19,996,000 for the year, a significant recovery from a loss of RMB 134,670,000 in the previous year[58]. Revenue Breakdown - Online interactive entertainment service revenue fell by 91.5% to RMB 5.64 million from RMB 66.39 million in the previous year[7]. - Revenue from online interactive entertainment services for the reporting period was RMB 5.6 million, a decrease of 91.5% compared to RMB 66.4 million in the same period of 2023[14]. - The revenue from the online interactive entertainment services segment for the year ended December 31, 2024, was RMB 5,641,000, compared to RMB 66,394,000 in 2023, indicating a decline of approximately 91%[74]. - For the year ending December 31, 2024, total revenue is projected to be RMB 10,160,000, with RMB 5,516,000 from real-time social video platforms and RMB 3,691,000 from software development[80]. User Metrics - For the three months ended December 31, 2024, the total monthly active users decreased to approximately 55,000, a decline of 66.9% year-over-year and 8.3% quarter-over-quarter[12]. - The quarterly paying users for online interactive entertainment services were approximately 4,000, down 33.3% year-over-year, primarily due to the suspension of domestic live streaming services at the end of 2023[12]. - The average revenue per user for the quarter was RMB 342, representing a 42.5% increase quarter-over-quarter but a 12.3% decrease year-over-year[12]. Cost and Expenses - The cost of revenue decreased by 76.6% year-over-year to RMB 2.1 million, mainly due to the suspension of domestic live streaming services[15]. - Selling and marketing expenses decreased by 76.1% year-over-year to RMB 8.3 million, attributed to reduced domestic marketing expenditures and labor costs[17]. - Administrative expenses decreased by 24.3% year-over-year to RMB 58.1 million, due to strategic reductions in domestic business scale and workforce[18]. - The total revenue cost, sales and marketing expenses, administrative expenses, and research and development expenses amounted to RMB 77,402,000 in 2024, down from RMB 138,007,000 in 2023[86]. Investments and Financial Assets - The company has made strategic investments in emerging industries, leading to significant valuation increases and operational performance in 2024[10]. - Cash and cash equivalents increased to RMB 467.0 million as of December 31, 2024, up from RMB 364.1 million as of December 31, 2023, indicating improved liquidity[30]. - Financial assets measured at fair value through profit or loss rose by 12.6% to RMB 1,757.2 million as of December 31, 2024, compared to RMB 1,560.4 million in 2023, driven by increases in other financial instruments and private investments[31]. - The fair value of other financial instruments increased by 19.0% to RMB 982.8 million as of December 31, 2024, with fair value gains rising from RMB 24.7 million in 2023 to RMB 58.4 million in 2024[32]. - The fair value of structured notes surged to RMB 16.1 million as of December 31, 2024, from RMB 1.4 million in 2023, indicating a strategic shift towards stable income-generating assets[41]. - Non-listed equity investments increased to RMB 163,158,000 in 2024 from RMB 98,687,000 in 2023, marking a growth of 65.4%[119]. Shareholder Returns and Equity - The company repurchased shares worth RMB 54,549,000 during the year, contributing to a total repurchase of RMB 58,170,000 by year-end[58]. - The company declared dividends of 22.1 million RMB for 2024, an increase from 10.8 million RMB in 2023, with a dividend per share of 0.01 HKD[131]. - The total equity as of December 31, 2024, was 784.9 million RMB, up from 754.2 million RMB as of December 31, 2023[132]. - The total equity attributable to owners decreased to RMB 2,234,448,000 in 2024 from RMB 2,253,366,000 in 2023, a decrease of 0.8%[58]. Compliance and Governance - The auditor issued a qualified opinion on the consolidated financial statements for the year ended December 31, 2024, due to issues related to the fair value assessment of certain equity securities[162]. - The company has adopted the corporate governance code as per the listing rules and has complied with most of the best practices during the reporting period[154]. - The board chairman and non-executive directors did not attend the annual general meeting held on June 28, 2024, due to other commitments[154]. - The company confirmed compliance with the standards for securities trading by directors during the reporting period[155].

Core Viewpoint - Tianji Interactive (01980) anticipates a significant turnaround in financial performance for the fiscal year 2024, projecting a net income of approximately RMB 19.9 million compared to a net loss of RMB 135.1 million in fiscal year 2023 [1][2] Financial Performance - The company expects total comprehensive income of about RMB 53.1 million for the fiscal year 2024, a recovery from a comprehensive loss of RMB 106.6 million for the year ending December 31, 2023 [1] - The turnaround from a net loss in 2023 to net profit in 2024 is attributed to two main factors: 1. Growth in fair value of financial assets due to changes in the interest rate environment, with the Federal Reserve halting interest rate hikes and beginning cuts, leading to an increase in the prices of fixed-income assets [1] 2. A surge in technology stock prices, particularly in AI and cloud computing, positively impacting the fair value of the company's holdings in technology stocks and funds [1] Investment Valuation - The valuation of non-listed equity investments has significantly increased, as the company invested in several non-listed firms in sectors such as social reasoning games, e-commerce, and short video platforms [2] - The strong operational performance of these non-listed companies is expected to enhance the valuation of the company's non-listed equity investments in 2024 [2] - The relatedness of these companies to the company's core business is anticipated to create synergistic benefits, further driving the increase in fair value of financial assets [2]

Revenue Performance - Revenue for the six months ended June 30, 2024, was RMB 5,333,000, a decrease of 87% compared to RMB 40,906,000 in the same period of 2023[10]. - Online interactive entertainment service revenue dropped to RMB 3,291,000 from RMB 39,483,000, reflecting a significant decline[10]. - The Group recorded total revenue of RMB5.3 million from online interactive entertainment services, a decrease of 87.0% from RMB40.9 million in the same period of 2023[17]. - Revenue from online interactive entertainment services decreased by 91.7% to RMB3.3 million compared to RMB39.5 million in the corresponding period in 2023, primarily due to the suspension of domestic live streaming business[17]. - For the six months ended June 30, 2024, the revenue from the "Online interactive entertainment service" segment was RMB 3,291,000, while the "Others" segment generated RMB 2,042,000, totaling RMB 5,333,000[160]. - In comparison, for the six months ended June 30, 2023, the revenue from the "Online interactive entertainment service" segment was RMB 39,483,000, and the "Others" segment was RMB 1,423,000, totaling RMB 40,906,000, indicating a significant decrease in total revenue of approximately 87% year-over-year[160]. Profitability - Gross profit for the reporting period was RMB 4,146,000, down from RMB 35,691,000, resulting in a gross profit margin of 77.7%, down from 87.3%[10]. - Net profit surged to RMB 43,987,000, compared to RMB 7,580,000 in the previous year, indicating a net profit margin of 824.8%[10]. - Adjusted net profit reached RMB 44,127,000, significantly up from RMB 7,580,000, with an adjusted net profit margin of 827.4%[10]. - The profit attributable to owners of the Company was RMB44.1 million, with a net profit of RMB44.0 million and an adjusted net profit of RMB44.1 million during the reporting period[17]. - Operating profit surged to RMB 41,861,000, compared to RMB 1,575,000 in the prior year, indicating a substantial improvement in operational efficiency[122]. - Profit for the period reached RMB 43,987,000, a significant increase from RMB 7,580,000 in the previous year[123]. - For the six months ended June 30, 2024, profit attributable to owners of the Company was RMB 44,079,000, a significant increase from RMB 7,782,000 in the same period of 2023, representing a growth of 466%[168]. Cost Management - The Group achieved significant labor cost savings of RMB18.1 million in the first half of the year, representing a 41.6% reduction in the number of staff year on year[19]. - The Group's cost of revenue decreased by 77.2% year-on-year to RMB1.2 million, primarily due to a decline in revenue, particularly in internet bandwidth and server custody fees[37]. - Selling and marketing expenses decreased by 79.6% year-on-year to RMB4.3 million, significantly impacted by the suspension of domestic operations[37]. - Administrative expenses decreased by 19.6% year-on-year to RMB28.0 million, driven by efforts to streamline management costs[37]. - Research and development expenses decreased by 68.1% year-on-year to RMB3.8 million, due to strategic adjustments in personnel structure following the suspension of domestic operations[37]. Strategic Focus and Market Expansion - The company is focusing on globalization, transitioning its business strategy from domestic live streaming to international markets[15]. - Tian Ge has successfully entered overseas markets, including Indonesia and the Middle East, which are becoming key growth engines for the business[3]. - The Group is focusing on expanding its live streaming business in overseas markets, integrating successful domestic business models with advanced technologies[18]. - The localized live streaming platform "KiWi Live," developed for the Indonesian market, has seen increasing popularity, with its ranking on Indonesia's social platform bestseller lists rising[18]. - The Group plans to establish a professional operations team for its overseas business, tailoring live streaming strategies to enhance product appeal and improve user experience[24]. - The Group will continue to focus on the development of overseas online live streaming services and establish a professional operational team for its overseas business[26]. Financial Position and Assets - As of June 30, 2024, cash and cash equivalents amounted to RMB269.0 million, down from RMB364.1 million as of December 31, 2023[42]. - Total assets increased to RMB 2,593,059,000 as of June 30, 2024, compared to RMB 2,560,083,000 at the end of 2023[124]. - The company's net assets increased to RMB 2,288,664,000 as of June 30, 2024, compared to RMB 2,252,984,000 at the end of 2023, reflecting a growth of about 1.58%[125]. - The total financial assets at fair value through profit or loss as of June 30, 2024, were RMB 1,658,696,000, slightly up from RMB 1,560,403,000 as of December 31, 2023, indicating an increase of 6.3%[188]. - The Group's investments in exchange-traded funds (ETFs) amounted to RMB 92,353,000 as of June 30, 2024, an increase from RMB 75,048,000 at the end of 2023, reflecting a growth of approximately 23.0%[196]. Shareholder Information and Corporate Governance - The Company declared an interim dividend of HK$0.01 per share for the Reporting Period, consistent with the previous year[70]. - The Group maintains high standards of corporate governance and has complied with all applicable code provisions set out in the Corporate Governance Code during the Reporting Period[70]. - The audit committee reviewed the interim results for the six months ended June 30, 2024, focusing on financial reporting and internal controls[72]. - The Company adopted the Share Options and Awards Scheme 2024 to replace previous schemes, aimed at rewarding and incentivizing participants for their contributions[69]. - The Group has not experienced any significant labor disputes or difficulties in recruiting staff during the Reporting Period[68]. Financial Instruments and Fair Value - The Group recognized a fair value gain of RMB 31,154,000 on other financial instruments for the six months ended June 30, 2024, up from RMB 27,804,000 in the same period of 2023, representing an increase of approximately 8.9%[195]. - The total financial liabilities at fair value through profit or loss included derivatives held for trading, amounting to RMB (34,301,000)[150]. - The net unrealized gain attributable to balances held at the period end for Level 3 financial assets was RMB 19,614,000 as of June 30, 2024[150]. - The Group's venture capital and private equity funds had a fair value of RMB 536,356,000 as of June 30, 2024[150]. Employee and Shareholder Engagement - As of June 30, 2024, the Group had 111 full-time employees, with staff costs amounting to RMB 18.5 million, a decrease of 49.4% compared to RMB 36.6 million for the same period in 2023[68]. - The total number of shares underlying the Pre-IPO RSU Scheme and Post-IPO RSU Scheme represented approximately 0.78% of the total ordinary shares of the Company as of June 30, 2024[69]. - The Company appointed The Core Trust Company Limited as the trustee for the Pre-IPO Share Options Scheme[102]. - The total number of options and awards available for grant under the Share Options and Awards Scheme 2024 increased from 0 to 123,323,716 during the reporting period[112].