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: 天鴿互動控股有限公司 呈交日期: 2025年8月5日 本月底法定/註冊股本總額： USD 300,000 FF301 第 1 頁 共 10 頁 v 1.1.1 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) | 01980 | 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 | | | 1,112,590,162 | | 0 | | 1,112,590,162 | | 增加 / 減少 (-) | | | -3,200,000 | | 0 | | | | 本月底結存 | | | 1,109,390,162 | | ...

Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]

[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)

Core Insights - On June 3, 40 Hong Kong-listed companies conducted share buybacks, totaling 27.7357 million shares and an aggregate amount of HKD 1.079 billion [1][2] - Tencent Holdings led the buybacks with 994,000 shares repurchased for HKD 500 million, bringing its total buyback amount for the year to HKD 27.031 billion [1][2] - AIA Group followed with a buyback of 6 million shares for HKD 403 million, and Kuaishou-W repurchased 2 million shares for HKD 102 million [1][2] Buyback Details - Tencent Holdings: - Shares repurchased: 994,000 - Buyback amount: HKD 500 million - Highest price: HKD 505.000 - Lowest price: HKD 501.000 - Year-to-date total buyback: HKD 27.031 billion [2] - AIA Group: - Shares repurchased: 6 million - Buyback amount: HKD 403 million - Highest price: HKD 67.650 - Lowest price: HKD 66.550 - Year-to-date total buyback: HKD 11.412 billion [2] - Kuaishou-W: - Shares repurchased: 2 million - Buyback amount: HKD 102 million - Highest price: HKD 51.350 - Lowest price: HKD 50.950 - Year-to-date total buyback: HKD 1.911 billion [2] Other Notable Buybacks - Other companies with significant buybacks include: - Hengan International: 600,000 shares for HKD 13.13 million - China Eastern Airlines: 200,000 shares for HKD 592,760 [2] - The total buyback activity reflects a trend among companies to return capital to shareholders amid market conditions [1][2]

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].