Core Viewpoint - The company, Lianzhong (06899 HK), has disclosed its financial results after a year and a half of suspension, revealing a significant decline in revenue and an increase in losses for the mid-term of 2025 [1][5]. Financial Performance - For the mid-term of 2025, Lianzhong reported revenue of 43.236 million, a year-on-year decrease of 13.8% [1]. - The loss attributable to equity holders for the period was 38.161 million, representing a 93% increase compared to the previous year [1]. - The basic loss per share was 3.56 cents [1]. Operational Insights - The decline in revenue was primarily due to a decrease in average revenue per user (ARPU) in the Lianzhong game hall, despite stable performance in the mobile gaming segment [1]. - The increase in overall losses was attributed to higher sales and new product development expenses, as well as significant costs related to the company's resumption of trading and legal fees from a joint venture [1]. Corporate Governance Issues - The company faced delays in publishing its 2023 annual report due to concerns that the unaudited management accounts might not accurately reflect its financial performance [2]. - In May 2024, Lianzhong announced further delays in the 2023 annual report due to unresolved matters involving payments made by the former CEO to former directors [5]. - An internal investigation revealed that approximately 8.38 million was paid by the former CEO for legal fees and severance payments, which were not correctly recorded in the financial statements for the fiscal years 2021-2022 [5]. Suspension and Compliance - Despite resolving internal control issues, Lianzhong remains suspended from trading and will continue to be until it meets all resumption guidelines set by the Hong Kong Stock Exchange [7]. - The suspension has lasted for a year and a half, and if trading is not resumed by September 27, 2025, the company may face delisting risks [7].

Core Viewpoint - The company has faced significant operational challenges, leading to a prolonged suspension of trading and delayed financial disclosures, with ongoing investigations into past financial practices [1][2][3] Financial Performance - In 2023, the company's revenue was 88.996 million, a year-on-year decrease of 12.4% [3] - For 2024, the company reported revenue of 92.188 million, reflecting a year-on-year increase of 3.6% [3] - In the first half of 2024, the company achieved revenue of 43.236 million, a decline of 13.8% compared to the previous year [3] Corporate Governance and Compliance - The company was suspended from trading due to delays in disclosing its 2023 annual report, which was attributed to concerns over the accuracy of its financial statements [1] - The company disclosed that approximately 8.38 million was paid by the former CEO for legal fees and severance payments, which were not properly recorded in the financial statements [2] - An internal investigation concluded that the company's internal control deficiencies have been addressed, and it now has adequate systems in place to comply with listing rules [2] Strategic Initiatives - The company is actively integrating AI technologies into its operations, including the implementation of cloud architecture to reduce IT operational costs [3] - The introduction of advanced AI models like DeepSeek and ChatGPT aims to enhance efficiency in art development and operations [3]

格隆汇9月10日丨联众(06899.HK)公告，截至2025年6月30日止6个月中期业绩，收入4323.6万元，同比 减少13.8%；公司权益持有人应占期内亏损3816.1万元；公司权益持有人应占每股亏损3.56人民币分。 ...

Core Viewpoint - The company reported a significant decline in revenue and an increase in losses for the first half of 2025, primarily due to rising operational costs and legal expenses related to its joint venture [1] Financial Performance - Revenue for the first half of 2025 was 43.236 million, representing a year-on-year decrease of 13.8% [1] - The loss attributable to equity holders for the period was 38.161 million, which is a 93% increase compared to the previous year [1] - Basic loss per share was 3.56 cents [1] Operational Insights - The company's operational data remained stable, but overall losses increased due to higher sales and R&D expenses, as well as significant professional fees related to the company's resumption of trading [1] - The increase in losses was also attributed to a rise in the company's share of losses from the joint venture AGAE, primarily due to litigation costs [1] Business Segment Performance - The mobile gaming segment maintained stability; however, the average revenue per user (ARPU) in the company's gaming hall decreased, leading to a reduction in overall revenue from this segment [1] - The MCN business has not yet fully reflected its activity in revenue generation [1]

Core Insights - The company reported a revenue of 43.236 million, representing a year-on-year decrease of 13.8% [1] - The loss attributable to equity holders increased to 38.161 million, a significant rise of 93% compared to the previous period [1] - Basic loss per share was recorded at 3.56 cents [1] Financial Performance - The main operational data remained stable, but overall losses increased due to higher sales and new product development expenses [1] - Significant increases in professional fees related to the company's resumption of trading and substantial litigation costs from the associate company AGAE contributed to the increased losses [1] Revenue Breakdown - The decline in revenue was primarily due to stable performance in the mobile gaming sector, while the average revenue per user (ARPU) in the company's gaming hall decreased [1] - The revenue from the gaming hall was further impacted as the activity level of the MCN business had not yet fully translated into revenue [1]

Group 1 - The company reported an annual revenue of 92.188 million, representing a year-on-year increase of 3.6% [1] - The loss attributable to equity holders for the year was 89.191 million, which is a year-on-year increase of 42.1% [1] - The basic loss per share was 8.32 cents [1] Group 2 - The increase in loss was primarily due to a significant rise in losses from joint ventures, which offset the improvements in the company's own operating performance and net loss compared to the previous year [1]

Group 1 - The company reported a revenue of 50.155 million, representing a year-on-year increase of 5.6% [1] - The loss attributable to equity holders was 19.97 million, which is a decrease of 70.2% compared to the previous year [1] - The loss per share was 1.84 cents [1]

Group 1 - The core point of the article is that 联众 (06899.HK) reported a revenue of RMB 50.2 million for the six months ending June 30, 2024, representing a year-on-year increase of 5.6% [1] - The company recorded a loss attributable to equity holders of RMB 19.77 million during the same period [1] - The basic loss per share from continuing and discontinued operations was RMB 1.84 [1] Group 2 - The increase in revenue was primarily due to a partnership with China Mobile's Migu and an increase in revenue from 联众大厅 [1]

Core Insights - The company reported a significant increase in losses for the fiscal year 2023, with a loss attributable to equity holders of 62.765 million yuan, representing a year-on-year increase of 76.5% [1] - Revenue for the company decreased to 88.996 million yuan, reflecting a decline of 12.4% compared to the previous year [1] - The increase in losses is primarily attributed to impairment losses on financial assets measured at fair value and expected credit loss models related to historical investment projects, along with costs incurred from recovering historical receivables [1] Financial Performance - Total revenue for the year was 88.996 million yuan, down 12.4% year-on-year [1] - The basic loss per share was reported at 5.9 cents [1] - The loss attributable to equity holders increased to 62.765 million yuan, which is a 76.5% increase compared to the previous year [1] Impairment and Costs - The increase in losses is mainly due to impairment losses on financial assets and expected credit losses [1] - Costs associated with recovering historical receivables also contributed to the overall financial performance [1]

Environmental, Social and Governance Report 環境、社會和管治報告 2024 Environmental, Social and Governance Report 環境、社會及管治報告 ABOUT THIS REPORT This is Ourgame International Holdings Limited's (the "Company", "Ourgame" or "We", and together with its subsidiaries, the "Group") (stock code: 06899) ninth annual Environmental, Social and Governance (ESG) report. This report sets out how the Group complies with the disclosure obligations under the Environmental, Social and Governance Reporting Guide in Appendix C2 to the R ...