Group 1 - The core viewpoint of the article highlights the strong performance of the stock "贪玩" (9890.HK), which rose by 11.81% to close at 16.1 HKD, reaching a new high since September 8, and has increased nearly 25% over the week and over 120% year-to-date [1][3] - The company announced a strategic cooperation agreement with COEXIST Group and Shenzhen Gongyisi Cultural Co., Ltd., focusing on the development, sales, and promotion of derivative products from over 200潮玩 artists [1] - This collaboration, lasting five years, aims to enhance the company's position in the潮玩 industry by integrating classic IP with artist IP, thereby expanding its business ecosystem in the digital entertainment sector [1]

Group 1 - The core viewpoint of the article highlights that the Hong Kong stock market indices collectively declined, while the company Tanwan (9890.HK) experienced a significant increase in stock price, reaching a three-month high [1] - Tanwan's stock price rose by 11.81% to close at HKD 16.1, with a total trading volume of HKD 218 million, and the company's market capitalization is now HKD 8.46 billion [1] - The stock has seen a cumulative increase of nearly 25% over the past two days and has more than doubled in value year-to-date [1] Group 2 - Tanwan announced a strategic cooperation agreement with COEXIST Group and Shenzhen Gongyisi Cultural Co., Ltd. to develop derivative products from artworks, integrating over 200潮玩 artists [1] - The cooperation period is set for five years, aiming to enhance Tanwan's presence in the潮玩 industry and expand its business ecosystem [1] - This partnership signifies a new chapter for Tanwan, combining classic IP with artist IP in the潮玩 sector [1]

每经AI快讯，贪玩(09890.HK)再涨超9%，截至发稿涨9.03%，报15.7港元，成交额1.72亿港元。 （文章来源：每日经济新闻） ...

Core Viewpoint - The company 贪玩 (09890) has seen a significant stock increase of over 9%, currently trading at 15.7 HKD with a transaction volume of 172 million HKD, following the announcement of a five-year collaboration with COEXIST Group for artist work development [1] Group 1: Partnership and Collaboration - The partnership with COEXIST Group involves a comprehensive collaboration with over 200 top-tier, mid-tier, and emerging trendy art artists for the development, sales, and promotion of derivative art products [1] - The collaboration is formalized through a long-term agreement titled "Artist Work Development Cooperation Agreement" [1] Group 2: Product Launch and IP Resources - The company has launched a mini-game based on the licensed IP of Jin Yong's "The Legend of the Condor Heroes 2: Flying Dragon in the Sky," which went live on November 13 [1] - The company holds multiple classic game IPs, including "Legend," "Douluo Continent," and "Blood Legend," and has been actively expanding into new tracks and new IPs in recent years [1] Group 3: Future Growth Potential - The company has a substantial product reserve in classic IPs such as "Legend," "Miracle," "Blood Jianghu," "Douluo Continent," and Jin Yong's martial arts, which are expected to contribute to future performance growth [1]

消息面上，近期，贪玩宣布与COEXIST集团达成深度合作，签订长达五年的《艺术家作品开发合作协 议》。此次合作整合逾二百名顶流、中腰部及新锐潮玩艺术家，围绕艺术作品衍生品的开发、销售及推 广互动展开全方位合作。此外，金庸正版授权《天龙八部2：飞龙战天》小游戏已于11月13日开服。 智通财经APP获悉，贪玩(09890)再涨超9%，截至发稿，涨9.03%，报15.7港元，成交额1.72亿港元。 国泰海通证券指，在经典游戏IP方向，公司拥有包括《传奇》、《斗罗大陆》、《热血传奇》等多个IP 资源，近年来积极拓展新赛道、新IP。展望未来，公司在传奇、奇迹、热血江湖、斗罗大陆、金庸武侠 等IP仍有较多产品储备，有望带来后续业绩增长。 ...

每经AI快讯，贪玩(09890.HK)午后涨超12%，截至发稿涨11.63%，报14.4港元，成交额6902.13万港元。 ...

Core Viewpoint - The company Tanwan (09890) has seen a significant stock increase of over 12%, currently trading at 14.4 HKD, following the announcement of a collaboration with COEXIST Group to develop and promote derivative products from various artists [1] Group 1: Partnership and Collaboration - Tanwan has signed an "Artist Works Development Cooperation Agreement" with COEXIST Group, integrating over 200 top-tier, mid-tier, and emerging trendy toy artists for the development, sales, and promotion of artistic derivative products [1] - This collaboration signifies the company's effort to leverage its strong foundation in the digital entertainment sector to further expand its presence in the trendy toy industry and enhance its business ecosystem [1] Group 2: Recent Licensing Agreement - In September, Tanwan entered into a licensing agreement with Chengdu Model Toy Culture Communication Co., Ltd., acquiring exclusive distribution rights for derivative products related to the film "THE GARFIELD MOVIE" in the Greater China region for five years [1] - The licensed products include non-functional trendy toys such as figurines, blind boxes, sculptures, building blocks, and plush items [1]

Core Viewpoint - The company Tanwan (09890) has seen a significant stock increase of over 12%, currently trading at 14.4 HKD, following the announcement of a collaboration with COEXIST Group to develop and promote derivative products from various artists [1] Group 1: Partnership and Collaboration - Tanwan has signed an "Artist Works Development Cooperation Agreement" with COEXIST Group, integrating over 200 top-tier, mid-tier, and emerging trendy toy artists for the development, sales, and promotion of artistic derivative products [1] - This collaboration signifies the company's effort to leverage its deep expertise in the digital entertainment sector to further expand its trendy toy industry layout and enhance its business ecosystem [1] Group 2: Licensing Agreements - In September, Tanwan entered into a licensing agreement with Chengdu Model Coffee Cultural Communication Co., Ltd., acquiring exclusive operational rights for derivative products related to the film "THE GARFIELD MOVIE" in Greater China, covering non-functional trendy toy products for five years [1]

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: 贪玩 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年12月2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) | 09890 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,500,000,000 | USD | | 0.00002 USD | | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | | 本月底結存 | | | 2,500,000,000 | USD | | 0.00002 USD | | | 50,000 ...

Core Insights - The company celebrates its tenth anniversary, marking a significant milestone in its development journey and showcasing its commitment to building a pan-entertainment ecosystem driven by "AI + Gaming," "Globalization of IP Products," and "Gaming + Trendy Toys" strategies [1][2] Strategic Developments - The company held a grand anniversary celebration themed "Crossing Mountains and Seas, Expanding New Horizons" in Guangzhou, highlighting key milestones from its inception to product launches and international expansion [1] - The founder expressed gratitude towards industry partners and employees, emphasizing the importance of innovation, player-centric approaches, and technology-driven strategies for future growth [2] Partnerships and Collaborations - The company signed a cooperation agreement with COEXIST Group to develop and promote derivative products with over 200 trendy toy artists, marking a significant step in expanding its trendy toy business [2][4] - A licensing agreement was established with Chengdu Model Cafe Cultural Communication Co., Ltd. for exclusive distribution rights of "The Garfield Movie" IP derivatives in Greater China, enhancing the company's market presence [3] Product Development and Ecosystem - The company is focusing on a comprehensive upgrade of its trendy toy business, launching new products like "CASHY BABY" and planning to introduce the first crystal element trendy toy IP "LILIA ANGEL" [3] - The establishment of a "Classic IP + Artist IP" system aims to diversify creative development and enhance the IP lifecycle through a virtual-to-physical value enhancement system [5] Consumer Engagement Strategies - The company emphasizes "Emotional Interaction Design" and "Scene Social Experience" as core strategies to reshape consumer engagement, aiming to make trendy toys emotional mediums that resonate with users [6][7] - The strategy includes deep integration of digital technology and artistic creation, exploring interactive experiences and community-driven content creation [6][7] Future Outlook - The company plans to deepen its user-centric IP ecosystem strategy, leveraging its strengths in digital technology and marketing to promote its trendy toy business [7] - By combining the influence of international classic IPs, the artistic value of artist IPs, and its core competencies, the company aims to provide emotionally resonant and culturally rich IP derivative experiences [7]