自願公告 業務發展最新情況 本公告乃經檸萌影視傳媒有限公司（「本公司」或「檸萌影視」，連同其附屬公司及並表聯署 實體統稱「本集團」）自願作出，旨在向本公司股東及潛在投資者更新本集團之最新業務發 展。 本公司董事會（「董事會」）欣然宣佈，由國家安全部重點指導，中央廣播電視總台、中國 電視劇製作中心、檸萌影視及旗下檸萌開新、騰訊視頻出品的當代國安題材電視劇《交 鋒》，已於2025年9月29日開機拍攝。該劇由王小槍編劇，姚曉峰總導演，張翼芸擔任總 製片人，王凱領銜主演，彭昱暢特別主演，歐豪特邀主演。 承董事會命 檸萌影視傳媒有限公司 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份內容 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。 Linmon Media Limited 9857 董事長 於本公告日期，本公司執行董事為蘇曉先生、陳菲女士及徐曉鷗女士；本公司非執行董 事為王娟女士及張嶸先生；本公司獨立非執行董事為蔣昌建先生、唐松蓮女士及梁寧 女士。 蘇曉 中國，北京 2025年9月29日 ...

Drama Production and Content Strategy - By the end of June 2025, the Group has produced and distributed a total of 26 high-quality drama series, with 24 being original series where the Group acted as the lead/sole investor and executive producer[7]. - The Group's original drama series include popular titles such as "A Love for Separation," "Nothing but Thirty," and "Novoland: Eagle Flag," focusing on contemporary themes like family life and female empowerment[9]. - The Group is committed to diversified growth strategies, exploring new avenues such as content marketing, short drama series, overseas business, and IP derivative development to maximize the commercial value of proprietary IP rights[10]. - The original drama series "A Dream within a Dream" achieved significant viewership, with over 8 billion views on Douyin, ranking TOP1 among drama series during the same period[35]. - Several new projects are in preparation, scheduled to start shooting in the second half of 2025, including "A Journey to Glow" and "Showdown"[35]. - The Group aims to produce over 200 episodes of long drama series throughout 2025, focusing on premium original content[47]. - The Group is actively exploring the production and distribution of mini and short drama series in niche languages, with several projects currently in production[43]. - The Group's short commercial-break dramas achieved significant popularity, with multiple titles ranking TOP1 on various platforms[41]. Financial Performance - Revenue for the six months ended June 30, 2025, amounted to approximately RMB 401.3 million, representing an increase of 109% from approximately RMB 192.5 million for the same period in 2024[24]. - Gross profit for the same period was approximately RMB 101.0 million, an increase of 140% from approximately RMB 43.0 million in 2024[24]. - Net profit for the six months ended June 30, 2025, was approximately RMB 11.3 million, compared to a net loss of approximately RMB 52.9 million for the same period in 2024[24]. - Adjusted net profit for the same period was approximately RMB 14.4 million, a turnaround from an adjusted net loss of approximately RMB 49.4 million in 2024[24]. - The Group's total revenue increased by 109% from RMB192.5 million for the six months ended June 30, 2024, to RMB401.3 million for the six months ended June 30, 2025, primarily due to the launch of the 40-episode drama "A Dream within a Dream"[55]. - Gross profit rose by 135% from RMB43.0 million for the six months ended June 30, 2024, to RMB100.99 million for the six months ended June 30, 2025[58]. - The gross profit margin improved by 2.8 percentage points from 22.4% for the six months ended June 30, 2024, to 25.2% for the six months ended June 30, 2025[59]. - The Group's cost of sales increased by 101% from RMB149.5 million for the six months ended June 30, 2024, to RMB300.3 million for the six months ended June 30, 2025[57]. - Other income and gains decreased by 39.4% from RMB46.5 million for the six months ended June 30, 2024, to RMB28.2 million for the six months ended June 30, 2025[63]. - Administrative expenses decreased by 24.6% from RMB99.0 million for the six months ended June 30, 2024, to RMB74.7 million for the six months ended June 30, 2025[65]. - Finance costs increased by 56.7% to RMB2.3 million for the six months ended June 30, 2025, from RMB1.5 million for the six months ended June 30, 2024[66]. - The Group recorded a net profit of RMB11.3 million for the six months ended June 30, 2025, compared to a net loss of RMB52.9 million for the six months ended June 30, 2024[76]. - Income tax expense decreased to RMB1.5 million for the six months ended June 30, 2025, from RMB6.3 million for the six months ended June 30, 2024, due to the utilization of deductible losses from previous years[68]. - Revenue growth was driven by the broadcast of quality drama series and improved financial performance from new business lines such as short drama series[84]. Overseas Business and Distribution - The Group's overseas distribution revenue recorded notable growth year-on-year, with the first overseas localized long drama series recently broadcasting[27]. - The Group's overseas business revenue exceeded RMB 33 million in the first half of 2025, approximately 2.5 times higher than the same period in 2024[42]. - The original drama series "A Dream within a Dream" ranked TOP1 on the iQIYI International platform across eleven countries and regions in the first half of 2025[43]. Employee and Workforce Diversity - As of June 30, 2025, the Group had 185 employees, with approximately 76.8% being female, reflecting a commitment to workforce diversity[50][52]. Corporate Governance and Compliance - The company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all Directors for the six months ended June 30, 2025[122]. - The company will continue to review its corporate governance practices to ensure compliance with the CG Code[117]. - The company has established an Audit Committee to oversee financial reporting, internal controls, and risk management, comprising one non-executive Director and two independent non-executive Directors[126]. - The Board believes that the current structure of the Chairman and CEO roles, held by Mr. Su, will not impair the balance of power and authority within the company[116]. - The overall strategic and key business policies of the company are made collectively after thorough discussion among all Board members and senior managers[116]. Shareholder Interests and Options - The interests of directors and chief executives in the company include Mr. Su, Ms. Chen, and Ms. Xu, each holding approximately 37.94% of the shares through controlled corporations[142]. - As of June 30, 2025, Mr. Su directly holds 71,136,000 shares in the company[144]. - Faye Free Flight Limited and A&O Investment Limited, both wholly owned by Ms. Chen and Ms. Xu respectively, each hold 33,014,520 shares in the company[144]. - The direct interest held by Mr. Su, Ms. Chen, and Ms. Xu in Shanghai Linmon is 56.93%[149]. - The Pre-IPO Share Option Scheme allows for a maximum of 14,680,471 shares to be issued, which is 4.06% of the total issued shares as of the interim report date[165]. - As of June 30, 2025, 11,906,964 options have been granted under the Pre-IPO Share Option Scheme, representing 3.29% of the total issued shares[165]. - The 2024 Share Option Scheme allows for a maximum of 36,045,882 shares to be issued, representing 9.97% of the total issued shares of 361,575,527 as of the interim report date[190]. - The maximum number of shares issuable to service provider participants is 18,022,941, which is 4.98% of the total issued shares[190]. - The option exercise price will be determined by the Board and must be at least the higher of a specified minimum[200].

Core Viewpoint - The announcement highlights the commencement of filming for the urban medical emotional drama "Asking the Heart 2," produced by Lingmeng Film and Television, Tencent Video, and iQIYI, indicating a strategic collaboration among major players in the media industry [1] Group 1: Production Details - "Asking the Heart 2" began filming on September 27, 2025 [1] - The series is written by Zhou Yifei and directed by Li Zhi, with Xu Xiaowu serving as the executive producer [1] - Notable cast members include Zhao Youting and Mao Xiaotong in leading roles, with Jin Shijia in a special role and Zhang Jianing as a guest lead [1]

Core Viewpoint - The announcement highlights the commencement of filming for the urban medical emotional drama "Ask the Heart 2," produced by Lingmeng Film and Television, Tencent Video, and iQIYI, indicating a strategic collaboration among major players in the entertainment industry [1] Group 1 - The filming of "Ask the Heart 2" began on September 27, 2025 [1] - The series is written by Zhou Yifei and directed by Li Zhi, showcasing a strong creative team [1] - Xu Xiaowu serves as the executive producer, with Wang Ye and Chen Shuze as producers, indicating a well-structured production team [1] Group 2 - The lead roles are played by Zhao Youting and Mao Xiaotong, with Jin Shijia in a special role and Zhang Jianing as a guest lead, suggesting a star-studded cast that may attract viewership [1]

自願公告 業務發展最新情況 本公告乃經檸萌影視傳媒有限公司（「本公司」或「檸萌影視」，連同其附屬公司及併表聯屬 實體統稱「本集團」）自願作出，旨在向本公司股東及潛在投資者更新本集團之最新業務發 展。 本公司董事會（「董事會」）欣然宣佈，由檸萌影視、騰訊視頻、愛奇藝出品的都市醫療情 感話題劇《問心2》，已於2025年9月27日開機拍攝，該劇由周藝飛編劇，黎志執導，徐曉 鷗擔任總製片人，王也、陳抒澤任製片人，趙又廷、毛曉彤領銜主演，金世佳特別主 演，張佳寧特邀領銜。 Linmon Media Limited 9857 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份內容 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。 董事長 蘇曉 中國，北京 2025年9月28日 於本公告日期，本公司執行董事為蘇曉先生、陳菲女士及徐曉鷗女士；本公司非執行董 事為王娟女士及張嶸先生；本公司獨立非執行董事為蔣昌建先生、唐松蓮女士及梁寧女 士。 承董事會命 檸萌影視傳媒有限公司 ...

Core Insights - Short dramas are reshaping the business models and strategic directions of traditional film and television companies [1] - The performance of companies in the short drama sector varies significantly, with some achieving profitability while others struggle with losses despite revenue growth [1][6] - The success in the short drama market is influenced by strategic foresight and execution capabilities [7][8] Group 1: Performance of Leading Companies - Perfect World achieved a turnaround with a revenue of 3.691 billion yuan and a net profit of 503 million yuan, driven by short dramas which saw a revenue increase of 756.35% to 767 million yuan [2] - Huace Film & TV reported a net profit of 118 million yuan, up 65.05%, leveraging a "long-short linkage" strategy to enhance its short drama output [2] - Happiness Blue Sea also turned a profit with a net profit of 9 million yuan, benefiting from a full industry chain strategy and a focus on short dramas [3] - Ningmeng Film & TV reported a revenue of 401 million yuan and a net profit of 14 million yuan, with short drama income exceeding 50 million yuan [3] Group 2: Struggling Companies - Huanrui Century reported a revenue of 198 million yuan but incurred a net loss of 6 million yuan, despite its short drama segment generating 125 million yuan [4] - Huayi Brothers faced a more severe decline, with a revenue of 153 million yuan, down 50.37%, and a net loss of 74 million yuan, as traditional business revenues fell sharply [5] Group 3: Exploratory Companies - Ciweng Media is focusing on overseas markets, with its short drama "Love On The Sidelines" achieving significant success, but still reported a net loss of 23 million yuan [6] - Straw Bear Entertainment is in the early stages of developing its short drama business, focusing on cultural empowerment through its projects [6] Group 4: Strategic Insights - Successful companies exhibit strategic foresight and deep market engagement, viewing short dramas as a long-term growth avenue [7] - Companies like Ningmeng Film & TV and Huace Film & TV have established effective organizational structures to support short drama production [8] - The competitive landscape is intensifying, with companies needing to leverage their narrative skills and production quality to succeed in the short drama market [10]

Core Viewpoint - The company reported significant growth in revenue and net profit for the first half of 2025, driven by overseas and short drama business expansion, alongside improved cost management [1][2]. Group 1: Financial Performance - In H1 2025, the company achieved revenue of 401 million yuan, representing a year-over-year increase of 108.5% [1] - The net profit attributable to shareholders was 108.21 million yuan, compared to a loss of 525.72 million yuan in H1 2024 [1] - Adjusted net profit reached 144.41 million yuan, up from a loss of 494.12 million yuan in the same period last year [1] - The gross margin was 25.2%, an increase of 2.8 percentage points year-over-year, while the adjusted net profit margin was 3.6%, up 29.3 percentage points [1] Group 2: Business Development - The company launched the drama "Book of Dreams" in H1 2025, consisting of 40 episodes, setting a record for viewership on iQIYI's opening day [2] - The company has multiple high-quality drama series in reserve, with five more expected to start production in H2 2025 [2] - The television industry is benefiting from favorable policies aimed at enhancing content supply and innovation [2] Group 3: Overseas and Short Drama Business - Overseas revenue exceeded 33 million yuan in H1 2025, approximately 2.5 times that of the same period last year [2] - The company’s short drama revenue surpassed 50 million yuan, with over 3,400 minutes of short dramas launched, reflecting a year-over-year growth of over 70% [3] - The company is actively developing IP derivatives, with over 120 related products launched, achieving top sales rankings in 2025 [3] Group 4: Future Outlook - The company is positioned as a leader in the long drama industry with strong content production capabilities and high hit rates [3] - Revenue projections for 2025-2027 are estimated at 1.029 billion, 1.803 billion, and 2.085 billion yuan, with net profits of 40 million, 167 million, and 202 million yuan respectively [3]

Group 1 - The report highlights that SAIC Motor Corporation achieved a total revenue of 299.59 billion yuan in H1 2025, representing a year-on-year increase of 5.2%, while the net profit attributable to shareholders was 6.02 billion yuan, a decrease of 9.2% [4][5] - The company reported a significant increase in non-recurring net profit, which reached 5.43 billion yuan, up 432.2% year-on-year, indicating strong operational performance despite challenges [4][5] - The sales volume of SAIC Motor's vehicles in H1 2025 was 2.053 million units, an increase of 12.4% year-on-year, with a notable 40.2% increase in new energy vehicle sales [5][6] Group 2 - Shenzhou Taiyue's H1 2025 revenue was 2.685 billion yuan, down 12.05% year-on-year, with a net profit of 509 million yuan, reflecting a decline of 19.26% [11][12] - The gaming segment contributed 75.53% of total revenue, with a significant drop in revenue from major titles, indicating a need for new product launches to drive growth [12][13] - The company is expected to enter a three-year product cycle from 2025 to 2027, with multiple new games set to launch, which could enhance revenue streams [12][14] Group 3 - Lemon Film's H1 2025 revenue reached 401 million yuan, a remarkable increase of 108.5% year-on-year, with a net profit of 10.82 million yuan, compared to a loss in the previous year [17][18] - The growth was driven by overseas distribution and short drama business expansion, alongside effective cost control measures [18][19] - The company is positioned as a leader in the long drama industry, with strong content production capabilities and a focus on overseas and short drama markets [21][22] Group 4 - Jinshi Resources reported a revenue of 1.726 billion yuan in H1 2025, a year-on-year increase of 54.24%, primarily due to the release of production capacity in fluorochemical products [23][24] - The company faced a net profit decline of 24.74% due to operational challenges and increased costs associated with mining projects [24][25] - The strategic shift towards global resource integration is expected to yield long-term benefits, with projected revenues of 3.727 billion yuan in 2025 [27][28] Group 5 - Zhongke Chuangda's H1 2025 revenue was 3.299 billion yuan, up 37.44% year-on-year, with a net profit of 158 million yuan, reflecting a growth of 51.84% [29][30] - The smart IoT business saw a remarkable growth of 136%, becoming the fastest-growing segment, while the smart automotive and software businesses maintained steady expansion [30][31] - The company is expected to continue leading in the edge AI sector, with projected revenues of 6.533 billion yuan by 2027 [35] Group 6 - Sound Group Inc. achieved a total revenue of 1.358 billion yuan in H1 2025, a 46.9% increase year-on-year, with a net profit of 68 million yuan, marking a turnaround from losses [39][42] - The audio entertainment segment remains the core revenue driver, while AI-related services are expected to enhance growth potential [39][40] - The company is focusing on user engagement and content creation to improve monetization and user retention [41][42] Group 7 - Beautiful Field Medical Health reported a revenue of 1.459 billion yuan in H1 2025, a 28.2% increase year-on-year, with a net profit of 171 million yuan, reflecting a growth of 35.5% [44][45] - The growth was driven by an increase in active members and the expansion of health services, particularly in the sub-health sector [45][46] - The company is expected to maintain a strong growth trajectory, with projected revenues of 3 billion yuan by 2027 [46]

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8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: 檸萌影視傳媒有限公司 呈交日期: 2025年9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) | 09857 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.000025 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.000025 | USD | | 50,000 | 本月底法定/註冊股本 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][9]. Core Views - The company has turned its performance around, achieving profitability driven by improved efficiency and growth in short drama business [4][9]. - Significant revenue growth is noted, with a year-on-year increase of 108.5% in H1 2025, reaching 401 million yuan, alongside a positive adjusted net profit of 14.44 million yuan [4][9]. Summary by Sections Financial Performance - In H1 2025, the company reported revenue of 401 million yuan, a 108.5% increase year-on-year, and an adjusted net profit of 14.44 million yuan, compared to a loss of 49.41 million yuan in H1 2024 [4][5]. - The gross margin improved to 25.2%, up by 2.8 percentage points year-on-year, while the adjusted net margin increased by 29.3 percentage points to 3.6% [4][5]. Business Segments - The overseas and short drama business segments have shown substantial growth, with overseas revenue exceeding 33 million yuan, approximately 2.5 times that of the previous year [5][6]. - The short drama segment generated over 50 million yuan in revenue, with more than 3,400 minutes of content released, reflecting a growth of over 70% [7]. Future Projections - Revenue forecasts for 2025-2027 are projected at 1.029 billion yuan, 1.803 billion yuan, and 2.085 billion yuan respectively, with corresponding net profits of 40 million yuan, 167 million yuan, and 202 million yuan [8][9]. - The report anticipates a strong growth trajectory, with a projected PE ratio of 39 for 2025, decreasing to 8 by 2027 [9][10].