Group 1 - The 22nd China International Digital Interactive Entertainment Expo attracted over 800 exhibitors and more than 410,000 attendees, generating approximately 661 million yuan in surrounding service consumption [1] - The "2025 China Game Industry Report" indicates that both domestic and overseas market revenues for the Chinese gaming industry saw year-on-year growth in the first half of the year, with new growth opportunities and commercialization directions emerging [1] - The global mobile and PC gaming market is expected to exceed $120 billion by 2028, with mobile game in-app purchase revenue projected to grow by 6% in 2025, reaching $85.4 billion [1] Group 2 - Analysts noted that the gaming industry is experiencing a robust recovery, with increased foot traffic and player enthusiasm at this year's expo compared to last year [2] - The domestic mobile game market size grew by 20% year-on-year from January to May, while the number of domestic game licenses increased by 21% in the first half of the year, reaching a new high for June [2] - Gaming platforms are expected to benefit from increased user activity and advertising revenue, alongside the launch of new games and the steady operation of established titles [2] Group 3 - The gaming sector includes companies listed in Hong Kong such as Tencent (00700), NetEase-S (09999), Bilibili-W (09626), and others [3]

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7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: 中旭未来 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月4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 ...

Group 1 - The collaboration between Zhongxu Future (Ganwan) and Kaiying Network marks a significant enhancement of the Legend IP ecosystem, with the introduction of classic IPs such as "Blood Legend" and "Legend World" [1][2] - Ganwan Games, a well-known game distribution platform in China, has successfully developed several phenomenon-level games in the Legend genre, establishing a strong brand influence in this field [1][2] - The partnership aims to leverage community-based operations of the game box platform to enhance brand influence and provide a more convenient content entry for a large user base [2] Group 2 - The integration of Ganwan Games into Kaiying Network's game box will utilize a multi-faceted marketing approach, combining "star IP + game products" to enhance market penetration [2] - Both companies will share resources and collaborate on traffic sharing, content co-creation, and ecosystem building to increase the market presence of the Legend IP [2] - Future efforts will focus on user growth, content innovation, and the derivative value of IP, reinforcing the leading position of Legend games in the market [2]

Group 1 - Zhongxu Future (Tanwan) has deepened its business cooperation with Hangzhou Tianqiong Interactive Network Technology, obtaining licenses for classic IPs "Blood Legend" and "Legend World" [1] - The partnership with Zhejiang Xianqu Interactive Network Technology, a subsidiary of Kaiying Network, allows Tanwan to officially enter the game box section operated by Xianqu Interactive, creating a "Tanwan Games" star brand area [1] - Tanwan Games, a well-known game distribution platform in China, focuses on the refined operation and innovative promotion of legendary games, successfully launching several hit products and establishing a strong brand influence in the legendary game sector [1] Group 2 - This collaboration represents an extension of the long-term partnership between Zhongxu Future (Tanwan) and Kaiying Network, marking a comprehensive upgrade of the legendary IP ecosystem [2] - The entry of Tanwan Games will provide a more convenient content entry for its large user base and enhance product market penetration through integrated marketing strategies like signing celebrity endorsements [2] - Both companies will share resources and enhance the market presence of legendary IPs through traffic sharing, content co-creation, and ecological construction, aiming to improve user growth and content innovation [2]

Core Viewpoint - The company, formerly known as Zhongxu Future, is rebranding back to its original name "Tanwan" to better reflect its brand value and market recognition, especially in the gaming sector [1]. Group 1: Company Background - Tanwan Games was established in May 2015 and initially focused on the agency and operation of legendary games [4]. - The company underwent a brand upgrade to Zhongxu Future in early 2022 to pursue a public listing and expanded its business into food and trendy products [4]. - In September 2023, Zhongxu Future successfully listed in Hong Kong, with its stock price rising from an initial HKD 14 to a historical high of HKD 72.45 per share by January 2024 [4]. Group 2: Financial Performance - From 2020 to 2022, the company's revenue increased from RMB 2.872 billion to RMB 8.817 billion, but it has been declining since 2023, with projected revenue of RMB 5.58 billion in 2024, a year-on-year decrease of 14.34% [4]. - Net profit peaked at RMB 616 million in 2021 but fell sharply to RMB 44 million in 2024, representing a significant year-on-year decline of 83.89% [4]. - The decline in profit was attributed to a decrease in revenue outpacing cost reductions and a significant drop in other income, particularly from financial asset investments [4]. Group 3: Future Outlook - The company is expected to experience a turnaround in performance due to stable game license approvals and supportive policies for the gaming industry and AI technology integration [5]. - For the first half of 2025, the company anticipates a net profit of approximately RMB 600 million to RMB 700 million, a substantial recovery from a net loss of RMB 385 million in the same period last year [6]. - The profit increase is attributed to higher fair value gains from financial assets, a mature game product portfolio reducing customer acquisition costs, and improved marketing efficiency through AI technology [6].

Core Viewpoint - The company, formerly known as Zhongxu Future, is rebranding back to its original name "Tanwan" to better reflect its brand value and market recognition, especially in the gaming sector [2]. Group 1: Company Background and Rebranding - Zhongxu Future, established in 2015, initially operated under the name Tanwan Games, focusing on the agency and operation of legendary games [2]. - The company had previously rebranded to Zhongxu Future in early 2022 in pursuit of an IPO, but is now reverting to the Tanwan name to leverage its established brand recognition in the gaming industry [2]. - The company has a history of popular games, including "Original Legend" and "Blood of Heroes," which have contributed to its brand identity [2]. Group 2: Financial Performance - The company's revenue increased from 2.872 billion RMB in 2020 to 8.817 billion RMB in 2022, but has since declined, with projected revenue of 5.58 billion RMB in 2024, a year-on-year decrease of 14.34% [3]. - Net profit peaked at 616 million RMB in 2021 but fell drastically to 44 million RMB in 2024, representing an 83.89% decline year-on-year [3]. - The decline in profit is attributed to a decrease in revenue outpacing cost reductions and significant drops in other income, particularly from financial asset investments [3]. Group 3: Future Outlook - The company anticipates a potential turnaround in performance due to stable game license approvals and supportive policies for the gaming industry and AI technology integration [3]. - Preliminary assessments suggest that the company could achieve a net profit of approximately 600 million to 700 million RMB in the first half of 2025, marking a significant recovery from a net loss of 385 million RMB in the previous year [3][4]. - Factors contributing to the expected profit growth include increased fair value gains from financial assets, a mature game product portfolio reducing customer acquisition costs, and enhanced profitability from overseas game distribution [4].

（文章来源：广州日报） 首先，游戏业务精益运营。随着部分游戏产品组合推广周期日趋成熟，形成了强大的品牌势能，游戏产 品的品牌效应有效降低了获客成本。同时，叠加本集团在AI技术层面的投入，AI技术在素材生成与投 放优化中的深度应用，游戏发行营销效率获得显著改善。 其次，游戏出海高歌猛进。具有较高经营利润率的境外游戏发行业务产生的收入增加，全球化布局成效 凸显；此外，金融资产价值释放，为业绩注入强劲动力。 值得关注的是，"中旭未来"更名"贪玩"，是集团品牌焕新的最新动作，背后颇有深意。据悉，自成立以 来，"贪玩"始终是中旭未来旗下游戏发行与运营的核心品牌，旗下多款游戏长期占据各大排行榜前列。 经过多年深耕，该品牌已在游戏玩家中建立起出色的知名度，其标志性的市场影响力与玩家口碑，早已 成为璀璨符号。 这家来自广州的游戏企业表示，在坚持为用户创造乐趣的主题下，未来将提供丰富的"食玩+潮玩"产 品："从'中旭未来'到'贪玩'，变的是名称，不变的是对游戏的热爱与对卓越的追求。'贪玩'不仅是一个 名字，更是一份承诺，指引我们继续以匠心打磨游戏产品，用科技赋能体验，为全球玩家带来更多精品 游戏。" 今年上半年广州游戏企业表现 ...

Core Viewpoint - Zhongxu Future (09890) has released a positive profit forecast, indicating significant growth in performance for the first half of 2025, with expected net profits of approximately RMB 600 million to 700 million, marking a substantial year-on-year turnaround to profitability [1][2] Group 1: Financial Performance - The company anticipates net profits of around RMB 600 million to 700 million for the six months ending June 30, 2025, achieving a significant year-on-year turnaround [1] - The strong growth in performance is attributed to three main factors: increased fair value gains from financial assets related to shares in other listed companies, a mature game product portfolio reducing customer acquisition costs, and increased revenue from high-margin overseas game publishing operations [1] Group 2: Brand and Corporate Identity - Zhongxu Future plans to change its company name from "Zhongxu Future" to the more recognizable "Tanwan," reflecting its established brand in the gaming industry [2] - The name change is intended to enhance brand value and align with the company's overall interests, coinciding with the company's tenth anniversary in 2025 [2]

Summary of Key Points Core Viewpoint - On June 25, 28 Hong Kong-listed companies conducted share buybacks totaling 31.02 million shares, with a total buyback amount of 708 million HKD [1][2]. Group 1: Major Buybacks - Tencent Holdings repurchased 979,000 shares for 500 million HKD, with a highest price of 514.50 HKD and a lowest price of 508.50 HKD, bringing its total buyback amount for the year to 35.04 billion HKD [1][2]. - AIA Group repurchased 2.5 million shares for 177 million HKD, with a highest price of 71.70 HKD and a lowest price of 70.05 HKD, totaling 14.54 billion HKD in buybacks for the year [1][2]. - Andeli Juice repurchased 500,000 shares for 8.73 million HKD, with a highest price of 17.50 HKD and a lowest price of 17.22 HKD, totaling 7.50 million HKD in buybacks for the year [1][2]. Group 2: Buyback Statistics - The highest buyback amount on June 25 was from Tencent Holdings at 500 million HKD, followed by AIA Group at 177 million HKD [1][2]. - In terms of share quantity, Youzan had the highest buyback volume with 13 million shares, followed by Ying Group and China Electric Power with 5 million shares and 3.8 million shares, respectively [1][2]. - Notably, companies like Dexin Services and Jinyong Investment conducted their first buybacks of the year on this date [2].

Summary of Key Points Core Viewpoint - On June 18, 35 Hong Kong-listed companies conducted share buybacks, totaling 26.35 million shares and an aggregate amount of HKD 938 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 990,000 shares for HKD 501 million, with a highest price of HKD 510.00 and a lowest price of HKD 503.50, bringing its total buyback amount for the year to HKD 32.54 billion [1][2]. - AIA Group repurchased 5.21 million shares for HKD 354 million, with a highest price of HKD 68.65 and a lowest price of HKD 67.70, totaling HKD 13.64 billion in buybacks for the year [1][2]. - Techtronic Industries repurchased 250,000 shares for HKD 21.77 million, with a highest price of HKD 87.60 and a lowest price of HKD 86.60, totaling HKD 99.37 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on June 18 was from Tencent Holdings at HKD 501 million, followed by AIA Group at HKD 354 million [1][2]. - In terms of share quantity, the most shares repurchased on June 18 were by Pacific Basin Shipping at 6 million shares, followed by AIA Group and COSCO Shipping at 5.21 million and 5 million shares, respectively [1][2].