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11月30日 | | | | 狀態: | 新提交 | | --- | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | | 公司名稱: | 心动有限公司 | | | | | | | 呈交日期: | 2025年12月3日 | | | | | | | I. 法定/註冊股本變動 | | | | | | | | 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) | 02400 | 說明 | | | | | 本月底法定/註冊股本總額： USD 100,000 第 1 頁 共 10 頁 v 1.1.1 FF301 III.已發行股份及/或庫存股份變動詳情 (A). 股份期權（根據發行人的股份期權計劃） | 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 | | | --- | --- | --- ...

Group 1: Stock Movements and Market Reactions - Hengdeli (03389) resumed trading and rose over 10% after announcing a voluntary cash offer at HKD 0.14 per share for all issued shares, excluding those already owned by the offeror and Mr. Feng Jiaqiao [1] - Anjuke Food (02648) increased nearly 5% following a report from Huachuang Securities after attending its 2025 first extraordinary general meeting, where management addressed operational and product channel strategies [1] - Copper stocks collectively surged, with Jiangxi Copper (00358) up 8.08%, China Daye Nonferrous Metals (00661) up 8.6%, and others, driven by a significant rise in LME copper futures, which exceeded USD 11,200, marking a historical high [1] Group 2: Industry-Specific Developments - Lichun Resources (02245) rose over 3% as reports indicated a major Chinese-controlled nickel smelter in Indonesia is cutting production due to tailings management issues [2] - Yuhua Education (06169) saw a nearly 1.89% increase after reporting a revenue of RMB 2.497 billion for the year ending August 31, 2025, a 5.4% year-on-year increase, with adjusted net profit rising 95.6% to RMB 914 million [2] - Jiantao Laminates (01888) increased nearly 7% as AI-driven demand for high-end PCBs surged, leading to price increases for key materials [2] Group 3: Strategic Partnerships and Collaborations - ZTE Corporation (00763) rose over 11% following reports of an upcoming AI phone launch in collaboration with ByteDance [2] - JD Health (06618) increased nearly 4% as demand for respiratory disease testing kits surged with the flu season, indicating a growing market for health-related products [3] - Xindong Company (02400) rose over 3% after announcing a strategic cooperation agreement with Golden Arc, including a financing agreement for USD 40 million [3] Group 4: Financial Performance Highlights - Bawang Tea (CHA.US) rose 6.09% after reporting Q3 results with a total GMV of RMB 7.93 billion and net income of RMB 3.208 billion, with overseas GMV increasing by 75.3% year-on-year [7]

公告称，目标集团亦拥有一系列知名的游戏知识产权。融资协议为订约方建立长期业务关系奠下基础， 促进未来商机的探索，而本公司认为此对本公司及股东整体有利。因此，本公司认为，根据融资协议向 Golden Arc提供融资为提升公司于海外游戏行业的投资的方法之一，有助于公司日后探索商机，故订立 融资协议乃属于本公司日常业务过程。 本文源自：智通财经网 智通财经获悉，心动公司(02400)早盘涨超6%，截至发稿，涨7.13%，报123.2港元，成交额2.02亿港 元。 消息面上，心动公司发布公告，于2025年11月26日，XD Entertainment(为本公司的间接全资附属公司)与 Golden Arc订立战略合作协议，XD Entertainment与 Golden Arc同意建立战略合作关系;及与Golden Arc订 立融资协议，XD Entertainment同意向Golden Arc提供合共4000万美元的定期贷款融资。融资协议的条 款(包括适用利率)乃由本公司与Golden Arc经计及现行市场条款后公平磋商厘定。 ...

Core Viewpoint - Xindong Company (02400.HK) experienced a significant increase in stock price, rising over 7% in early trading, indicating positive market sentiment towards the company [1] Group 1 - The stock price of Xindong Company rose by 7.13%, reaching 123.2 HKD [1] - The trading volume amounted to 202 million HKD, reflecting strong investor interest [1]

Core Viewpoint - Xindong Company (02400) experienced a significant stock price increase of over 6%, reaching a rise of 7.13% to HKD 123.2, with a trading volume of HKD 202 million, following the announcement of a strategic cooperation agreement with Golden Arc [1] Group 1: Strategic Cooperation - Xindong Company announced a strategic cooperation agreement between its indirect wholly-owned subsidiary, XD Entertainment, and Golden Arc, aimed at establishing a long-term business relationship [1] - The agreement includes a financing arrangement where XD Entertainment will provide a total of USD 40 million in term loan financing to Golden Arc [1] Group 2: Business Implications - The financing agreement is expected to lay the foundation for a long-term business relationship and promote the exploration of future business opportunities [1] - The target group possesses a range of well-known gaming intellectual properties, which may enhance Xindong Company's position in the overseas gaming industry [1] - The company views this financing as a method to enhance its investment in the overseas gaming sector and facilitate future business exploration [1]

Core Viewpoint - The company, Xindong Company, has seen its stock price increase by over 6%, reaching a rise of 7.13% to HKD 123.2, with a trading volume of HKD 202 million, following the announcement of a strategic cooperation agreement and financing deal with Golden Arc [1] Group 1: Strategic Cooperation - Xindong Company announced a strategic cooperation agreement between its indirect wholly-owned subsidiary, XD Entertainment, and Golden Arc, aimed at establishing a long-term business relationship [1] - The agreement includes a financing arrangement where XD Entertainment will provide a total of USD 40 million in term loan financing to Golden Arc [1] Group 2: Business Implications - The financing agreement is expected to lay the foundation for future business opportunities and is considered beneficial for the company and its shareholders [1] - The company views this financing as a method to enhance its investment in the overseas gaming industry, facilitating the exploration of future business opportunities [1]

Core Viewpoint - The company has entered into a strategic cooperation agreement and financing agreement with Golden Arc, aiming to enhance its investment in the overseas gaming industry and explore future business opportunities [1][2] Group 1: Strategic Cooperation Agreement - XD Entertainment, a wholly-owned subsidiary of the company, has established a strategic partnership with Golden Arc [1] - The strategic cooperation agreement allows both parties to explore business opportunities in areas such as research and development [2] Group 2: Financing Agreement - The financing agreement involves the company providing a total of $40 million in term loan financing to Golden Arc [1] - The terms of the financing agreement, including applicable interest rates, were determined through fair negotiations based on current market terms [1] - The financing is intended to support Golden Arc in acquiring a target group that operates a diversified portfolio of games, including online service games like Star Trek Online and Neverwinter, as well as paid games like Hyper Light Breaker [2] - The financing agreement is seen as a foundation for establishing a long-term business relationship and promoting future business opportunities [2]

Core Viewpoint - The company has entered into a strategic cooperation agreement and a financing agreement with Golden Arc, aiming to enhance its presence in the overseas gaming industry and explore future business opportunities [1][2]. Group 1: Strategic Cooperation Agreement - XD Entertainment, a wholly-owned subsidiary of the company, has established a strategic partnership with Golden Arc to explore business opportunities in areas such as research and development [2]. - The strategic cooperation agreement serves as a framework for both parties to collaborate on various business ventures [2]. Group 2: Financing Agreement - The financing agreement involves a total loan of $40 million to Golden Arc, which is intended to support its acquisition of a target group with a diversified gaming portfolio [1][2]. - The target group operates well-known online service games like Star Trek Online and Neverwinter, as well as paid games such as Hyper Light Breaker, and holds a range of valuable gaming intellectual properties [2]. - The financing agreement is seen as a foundation for establishing a long-term business relationship between the parties, promoting future business opportunities [2].

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分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 XD Inc. 心动有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2400） 有關提供融資的 須予披露交易 及 與GOLDEN ARC的戰略合作 戰略合作及提供融資 董事會欣然宣佈，於2025年11月26日，XD Entertainment（為本公司的間接全 資 附 屬 公 司）(1)與Golden Arc訂立戰略合作協議，據此，XD Entertainment與 Golden Arc同意建立戰略合作關係；及(2)與Golden Arc訂立融資協議，據此， XD Entertainment同意向Golden Arc提供合共40,000,000美元的定期貸款融資。 上市規則的涵義 戰略合作協議 戰略合作協議並不構成上市規則第14章項下本公司的須予公佈交易，亦不構 成上市規則第14A章項下的關連交易。股東及投資者務須注意，戰略合作協 議項下擬進行的交易仍有待訂立最終業務協議後方可作實。倘訂立最終業務 ...

Company Background - Xindong Company is a global game developer and publisher with extensive experience in research and development, publishing, and agency operations. The company's major games include "Let's Go, Muffin," "Xindong Town," "Iser," "Ragnarok M," and "Torchlight: Infinite." According to Sensor Tower, the company is expected to enter the global mobile game publisher revenue ranking TOP 100 by October 2025, ranking 22nd among Chinese mobile game publishers. The company also owns TapTap, the largest comprehensive game community platform in China, which provides a full-service experience for players and developers [1][2]. Self-Developed Game Performance - Since 2024, the company's self-developed games such as "Let's Go, Muffin," "Xindong Town," and "Iser" have shown impressive performance, reflecting the high success rate from refining quality games and precise product positioning. The international version of "Xindong Town" and new products like "Ragnarok RO: Guardians of Eternal Love 2" are expected to continue driving growth [2]. TapTap Platform Growth and Commercialization - TapTap exhibits a "user-game" dual-sided effect, with a zero-revenue-sharing policy and a considerable user base attracting many quality games to launch and promote on the platform. The ongoing opening of the iOS application ecosystem in China is expected to further expand TapTap's growth potential. The launch of the TapTap PC version will help broaden the user base and market for multi-platform games, including PC and independent games. The TapAND business has been successfully initiated and has vast market potential. In the first half of 2025, TapTap's revenue reached 1.01 billion, representing a year-on-year increase of 37.6%. The company forecasts TapTap's revenue growth of 35.5%, 25.0%, and 14.6% for 2025, 2026, and 2027, respectively [3]. Profit Forecast, Valuation, and Rating - As revenue scales grow, the operating leverage effect is expected to be released, leading to a net profit growth rate for the company that exceeds revenue growth. The forecast for the company's net profit attributable to shareholders is 1.7 billion, 2.12 billion, and 2.55 billion for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 111.2%, 24.3%, and 20.0%. The corresponding EPS is projected to be 3.44, 4.28, and 5.16 yuan. Based on industry valuation, a target price of 103.2 HKD is set for 2026, with an initial "buy" rating [4].