高盛发表报告，将心动公司目标价由39港元上调至81.4港元，相当预测明年市盈率20倍，维持"中性"评 级；将2025至2027年收入预测上调21%至35%，净利润预测上调51%至60%，因新兴游戏产品线及 TapTap游戏广告平台持续成长，令盈利能见度提高，加上公司严格控制成本和营运开支。该行认为，基 于TapTap独特的游戏社群与分发渠道定位，其变现能力仍有上升空间，广告载量与千次展示收益 (eCPM)亦有提升空间。 ...

Core Viewpoint - Citic Securities reports that Xindong Company (02400) has exceeded expectations in revenue growth from both gaming and Taptap in 1H25, with a year-on-year revenue increase of 38.7% and an adjusted net profit of 796 million yuan, up 235.3% [1] Group 1: Gaming Business Performance - The gaming segment has shown significant revenue growth and improved profitability, driven by content updates for games like "Xindong Town" and "Torchlight," as well as the overseas release of "Ragnarok M" [1] - The revenue growth in the gaming business has surpassed expectations due to increased player spending following content updates and new game releases [1] Group 2: Taptap Business Performance - Despite the impact of product cycles on monthly active users (MAU) growth, Taptap has achieved revenue growth above expectations by enhancing advertising efficiency and user engagement [1] - The company anticipates that the long-term operational capabilities for high-quality content games and overseas distribution will support continued growth in the gaming segment and Taptap [1] Group 3: Future Outlook - The company expects sustained growth in the gaming sector, supported by its ability to operate quality content games and improve commercialization efficiency on Taptap as user numbers increase [1]

Core Viewpoint - Citic Securities reports that Xindong Company (02400) has exceeded expectations in revenue growth from both gaming and Taptap in 1H25, with a year-on-year revenue increase of 38.7% and an adjusted net profit of 796 million yuan, up 235.3% year-on-year [1] Group 1: Gaming Business Performance - The gaming segment has shown significant revenue growth and improved profitability, driven by content updates for games like "Xindong Town" and "Torchlight," as well as the overseas release of "Ragnarok M" [1] - The revenue growth in the gaming business has surpassed expectations due to increased player spending following game updates and new releases [1] Group 2: Taptap Performance - Despite the impact of product cycles on MAU growth, Taptap has achieved revenue growth above expectations by enhancing advertising efficiency and user engagement [1] - The company anticipates that the long-term operational capabilities for high-quality content games and overseas distribution will support sustained growth in the gaming segment [1] Group 3: Future Outlook - The company expects continued improvement in user numbers for Taptap as product cycles recover, alongside ongoing enhancements in commercialization efficiency [1] - The investment rating remains at "Buy" based on the positive outlook for both gaming and Taptap segments [1]

Core Viewpoint - Company X announced the exercise of a total of 8,400 shares under its stock option plan, effective September 29, 2025 [1] Summary by Relevant Categories - **Company Actions** - The company has exercised a total of 8,400 shares as part of its stock option plan [1]

智通财经APP讯，心动公司(02400)发布公告，于2025年9月29日因购股权计划获行使发行合共8400股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) | 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) | 02400 | 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 | 每股發行/出售價 (註4) | 已發行股份總數 | | 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 | | | | 於下列日期開始時的結存(註1) | 2025年9月26日 | 494,850,714 | | 0 | | 494,850,714 | | 1). 就根據股份計劃授予參與人（發行人的董事除外）的股份獎勵或期權 而發行新股或轉讓庫存股份 - 涉及新股 | | 1,200 ...

心动有限公司 2025 年中期報告 目錄 目錄 | 01 | P 2 公司資料 | 08 | P 54 中期簡明合併權益變動表 | | --- | --- | --- | --- | | 02 | P 4 摘要 | 09 | P 57 中期簡明合併現金流量表 | | 03 | P 6 管理層討論與分析 | 10 | P 59 中期財務資料附註 | | 04 | P 19 其他資料 | 11 | P 104 釋義及詞彙 | | 05 | P 46 中期財務資料審閱報告 | | | | 06 | P 48 中期簡明合併綜合收益表 | | | | 07 | P 51 中期簡明合併財務狀況表 | | | 01 公司資料 心动有限公司 2025 年中期報告 公司資料 3 公司資料 董事會 執行董事 黃一孟先生 （主席兼首席執行官） 戴雲傑先生 樊舒暘先生 非執行董事 裴大鵬先生 辛全東先生 劉千里女士 審核委員會 辛全東先生 （主席） 裴大鵬先生 劉千里女士 薪酬及考核委員會 劉千里女士 （主席） 戴雲傑先生 辛全東先生 提名委員會 裴大鵬先生 （主席） 黃一孟先生 劉千里女士 戰略發展委員會 黃一孟先生 （主席） 戴 ...

Group 1: Alibaba Group - CMB International maintains a "Buy" rating for Alibaba-SW, raising the target price to HKD 195, citing advancements in AI infrastructure investment of RMB 380 billion and a projected 10x increase in data center energy consumption by 2032 [1] - CICC also maintains an "Outperform" rating for Alibaba-SW, increasing the target price to HKD 197, highlighting the leading position of Tongyi model ecosystem and the potential for commercial value release [1] Group 2: Kuaishou Technology - UBS maintains a "Buy" rating for Kuaishou-W, setting a target price of HKD 95.37, noting significant advancements in the 可灵 2.5 Turbo model for text understanding and video generation [1] Group 3: Xiaomi Corporation - Daiwa Securities maintains a "Buy" rating for Xiaomi Group, with a target price of HKD 76, reporting an increase in weekly electric vehicle deliveries to 10,000-12,000 units and plans to enter the European market by 2027 [2] Group 4: Longwind Pharmaceutical - China Everbright Securities International highlights Longwind Pharmaceutical's strong growth prospects, focusing on inhalation technology and drug development, with six products approved in the respiratory disease field [3] Group 5: Nine Dragons Paper Holdings - Bank of America maintains a "Buy" rating for Nine Dragons Paper, setting a target price of HKD 6.5, with a projected net profit of RMB 1.767 billion for FY25 and a 9.7% increase in sales [3] - Shenwan Hongyuan also maintains a "Buy" rating, noting significant improvements in gross profit and net profit, with expected growth in net profit for 2026-2028 [4] - Guotai Junan raises the target price for Nine Dragons Paper to HKD 7.37, citing a 9.6% increase in sales and a 1.9 percentage point rise in gross margin [4] Group 6: Xindong Company - CMB Securities strongly recommends Xindong Company, highlighting the successful public testing of "伊瑟" and a 37.74% increase in revenue from the TapTap platform [5] Group 7: Mixue Group - CITIC Securities maintains a "Buy" rating for Mixue Group, emphasizing its efficient supply chain and membership growth exceeding 300 million, with plans for expansion in Southeast Asia and new global markets [6]

Core Viewpoint - Heart Company (02400) announced the exercise of a stock option plan, resulting in the issuance of 262,000 shares on September 26, 2025 [1] Group 1 - The stock option plan was exercised, leading to the issuance of 262,000 shares [1]

Core Viewpoint - Xindong Company (02400) announced the exercise of stock options resulting in the issuance of 262,000 shares on September 26, 2025 [1] Group 1 - The stock option plan led to the issuance of 262,000 shares [1]