Core Viewpoint - The company, Zhiyu City Technology, anticipates a significant revenue growth for the year 2025, driven by its social and innovative business segments, with a strong emphasis on AI technology integration to enhance user experience and commercial efficiency [1][9]. Group 1: Revenue Projections - For the fiscal year ending December 31, 2025, the company expects total revenue to be between RMB 67.6 billion and RMB 70.0 billion, representing a year-on-year growth of 32.8% to 37.5% compared to 2024 [1]. - The social business segment is projected to generate approximately RMB 60.3 billion to RMB 62.3 billion, reflecting a growth of about 30.4% to 34.8% year-on-year [1]. - The innovative business segment is expected to achieve revenue between RMB 7.3 billion and RMB 7.7 billion, with a year-on-year increase of 55.7% to 64.2% [1]. Group 2: Social Business Growth - The social business segment has shown substantial growth, primarily due to the integration of AI technology, which has facilitated the development of diverse social products [3]. - Key platforms such as the companionship social platform SUGO and the gaming social platform TopTop have experienced explosive growth, becoming significant drivers of the social business's rapid expansion [3]. - In the Middle East and North Africa market, the company has established a strong competitive advantage, with SUGO ranking 6th in the Sensor Tower revenue chart for social networks in the region [3][4]. Group 3: Competitive Positioning - The company has improved its market competitiveness, ranking 4th in the "China Non-Gaming Companies Overseas Revenue Ranking" published by Diandian Data in December 2025, indicating a strong development momentum [4]. - The company's localization capabilities are crucial for building competitive barriers, supported by deep user insights and diverse monetization strategies [8]. Group 4: Innovative Business Development - The innovative business segment has demonstrated robust growth, driven by revenue from social e-commerce and the successful launch of premium games, which have entered a long-term operational phase [10]. - The company has introduced China's first critical illness insurance specifically for HIV patients, showcasing its commitment to innovative solutions in health services [10]. Group 5: AI Technology Integration - The company has intensified its exploration of AI technology, integrating it into core business operations and launching innovative products like the AI creative content community Aippy, which has received positive user feedback [11]. - The introduction of the "Siyu AI Intelligent Data Platform" allows for efficient data querying and analysis through natural language interaction, highlighting the company's advancements in AI applications [11]. Group 6: Global Strategy and Share Buyback - In June 2025, the company established its global headquarters in Hong Kong, marking a new phase in its globalization strategy [12]. - The company has conducted share buybacks totaling over HKD 80 million, reflecting management's confidence in the company's long-term value and growth prospects [12].

Core Viewpoint - The announcement from Zhiyu City Technology (09911.HK) highlights significant growth in its social business and innovative business segments, driven by AI technology and diversified product offerings [1] Group 1: Social Business Performance - As of December 31, 2025, the cumulative downloads of the group's social business are expected to reach approximately 970 million, an increase of about 5.9% from September 30, 2025 [1] - The average monthly active users for the social business in Q4 2025 are projected to be around 35.285 million, reflecting a quarter-on-quarter growth of approximately 3.5% [1] - The total revenue for the social business for the fiscal year ending December 31, 2025, is anticipated to be between RMB 6.030 billion and RMB 6.230 billion, representing a year-on-year growth of approximately 30.4% to 34.8% compared to 2024 [1] Group 2: Innovative Business Performance - The total revenue for the innovative business for the fiscal year ending December 31, 2025, is expected to be between RMB 730 million and RMB 770 million, indicating a year-on-year growth of approximately 55.7% to 64.2% compared to 2024 [1] - The significant revenue growth in the innovative business is attributed to the monetization of traffic, steady development of social e-commerce, and contributions from short drama business investments [1] - Additionally, revenue contributions are also expected from the premium games developed by the company [1]

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 或完整性亦不發表聲明，並明確表示概不就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。 NEWBORN TOWN INC. 赤子城科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9911） 2025年年度 未經審核營運數據及未經審核收入資料 本公告由赤子城科技有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 《香港聯合交易所有限公司證券上市規則》（「《上市規則》」）第13.09(2)條及香港 法例第571章《證券及期貨條例》第XIVA部項下的內幕消息條文（定義見《上市規 則》）作出。 本公司董事（「董事」）會（「董事會」）欣然宣佈截至2025年12月31日止年度未經審 核營運數據及未經審核收入資料如下： • 社交業務： 本集團社交業務於2025年度收入同比大幅增長，主要歸因於本集團借助AI技術推 動多樣化社交產品持續穩步增長。 1 (i) 截至2025年12月31日止，本集團社交業務累計下載量達約9.7億，較2025年9 月30日上升約5.9%； (ii) 2025年第四季度 ...

凭借国际化的营商环境、成熟的资本市场，以及顶级的人才资源，香港将持续为赤子城科技注入发展动 能，助力推进"产品复制+国家复制"的全球化战略。宋朋亮强调："香港联通世界，使我们能够将成功产 品和运营模式高效复制到不同市场，并依据当地文化进行适应性调整，从而提升用户黏性与社群活跃 度。" 同时，宋朋亮还表示："香港是创新之都，吸引企业积极应用人工智能创作个人化内容，并开发崭新盈 利模式。香港兼具国际金融中心与人才汇聚优势，让我们能够接触全球合作伙伴和招揽顶尖技术专家， 尤其适合建设人工智能研究中心。" 近年来，凭借本地化运营结合全球视野的双轨策略，赤子城科技在社交娱乐市场的领导地位逐渐巩固； 与此同时，香港在公司全球化战略中的重要价值也日益凸显。目前，赤子城科技在港团队已深度参与国 际化发展进程和研发业务，致力于将人工智能深度融入社交娱乐产品，通过探索前沿技术应用来驱动创 新，构建长期竞争优势。 本报讯(记者李春莲) 近日，赤子城科技有限公司(以下简称"赤子城科技"，09911.HK)高级副总裁宋朋亮就该公司全球化战略 等话题对外表示："我们以中国香港总部作为战略基地，辐射中东北非、东南亚等市场，目前在全球已 设 ...

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Core Insights - 2025 is marked as a significant year for social media expansion, with major events impacting the industry, including user migration from TikTok to Xiaohongshu and the introduction of AI-driven applications [1][2]. Group 1: Social Media Trends - The influx of "TikTok refugees" to Xiaohongshu resulted in over 700,000 new users within two days, indicating a shift in user engagement between platforms [1]. - In the Middle East, social media applications are increasingly focusing on attracting high-value streamers, with some platforms offering over 100% revenue share to secure talent [6][8]. - The number of new social apps launched in the Middle East reached 74,256, highlighting the region's growing importance in the social media landscape [9]. Group 2: Market Dynamics - The average monthly active users for BIGO reached 260.4 million globally, with Bigo Live accounting for 28.9 million, demonstrating the platform's strong market presence [7]. - The competitive landscape in the Middle East is characterized by a significant presence of Chinese companies, which dominate the social media sector [8]. - The cost of customer acquisition in the Middle East has doubled, with current costs around $3 per user, indicating a shift towards a more competitive market environment [32][33]. Group 3: AI Integration - AI technologies are increasingly integrated into social media applications, with AI-driven features contributing to over 75% of growth in the sector [21]. - Successful AI applications, such as BeautyCam, have achieved significant global downloads and revenue, showcasing the potential for AI in enhancing user engagement [21]. - The combination of AI and social interaction is still evolving, with many companies exploring new ways to integrate AI into social experiences [32]. Group 4: Localization Strategies - Localization has become a critical strategy for social media companies, particularly in the Middle East, where adapting to local cultures and user preferences is essential for success [37][39]. - Companies are increasingly employing local teams to enhance their understanding of regional markets, which helps in building trust and user loyalty [41][43]. - The trend of "invisible localization," where local companies act as intermediaries while leveraging Chinese expertise, is gaining traction in the Middle East [42]. Group 5: Regulatory Environment - The global social media market is facing stricter regulatory scrutiny, with multiple platforms being banned for violations related to child safety and content moderation [46][49]. - New regulations in various countries, including the U.S. and Australia, are imposing restrictions on social media usage among minors, impacting user demographics [47][48]. - The increasing number of app removals due to compliance issues is reshaping the competitive landscape, favoring established platforms with robust compliance measures [49][50].

Core Insights - 2025 is marked as a significant year for social media expansion, with notable events such as the influx of users from TikTok to Xiaohongshu and the launch of AI-driven social applications [1][2][6] Group 1: Social Media Trends - The year saw a surge in social media applications, particularly in the Middle East, with 74,256 new social apps launched in countries like Saudi Arabia and the UAE [7] - Southeast Asia is emerging as a new growth area for social media, with platforms integrating local influencers to enhance user engagement [14][16] - The competitive landscape in the Middle East is intensifying, with many new entrants struggling to gain traction against established players [11][12] Group 2: AI Integration - The integration of AI in social applications has become a focal point, with significant advancements leading to a surge in user engagement and monetization opportunities [17][20] - Successful AI-driven applications, such as BeautyCam, have achieved top rankings in multiple countries, showcasing the potential of AI in enhancing user experience [21][23] - The AI social sector is characterized by a mix of opportunities and challenges, with many new entrants failing to sustain their growth [28][26] Group 3: Marketing Strategies - The marketing approach for social media applications is shifting from aggressive user acquisition to more refined strategies focusing on brand value and user retention [35][36] - Influencer marketing has gained prominence as a key strategy for connecting brands with users, particularly in markets where user safety and community trust are paramount [38] Group 4: Localization Efforts - Localization remains a critical strategy for social media companies, particularly in the Middle East, where adapting to local cultures and user preferences is essential for success [39][41] - The concept of "invisible localization" is emerging, where local companies act as intermediaries while leveraging the expertise of Chinese firms in technology and operations [42][45] Group 5: Regulatory Challenges - The social media landscape is facing increased regulatory scrutiny, leading to the shutdown of numerous applications due to compliance issues [48][49] - Companies are urged to diversify their market presence and enhance local operations to mitigate risks associated with regulatory changes [50]

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12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: 赤子城科技有限公司 呈交日期: 2026年1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) | 09911 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | USD | | 0.0001 | USD | | 300,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,000,000,000 | USD | | 0.0001 | USD | | 300,000 | III.已發行股份及/或 ...

Core Insights - Dida Chuxing released the "2025 Workplace Carpool User Profile and Experience Insight Report," based on big data and surveys from nearly 10,000 users, highlighting user demographics and consumption preferences [1][3]. User Scenarios - Commuting is the primary scenario for carpooling, with passengers and drivers selecting this option at rates of 55% and 82.1% respectively. The second to fourth scenarios for passengers are station-to-station trips (35.6%), trips to hometowns (32%), and personal errands (31.8%). For drivers, the second to fourth scenarios are personal errands (45.8%), trips to hometowns (38.2%), and station-to-station trips (19%) [1][3]. User Demographics - The majority of carpool passengers are aged 20-25, 26-30, and 31-40, with respective proportions of 16.7%, 17.7%, and 28.8%. Additionally, those under 20 account for 2.8%, making the total for those under 25 approximately 19.5%. This indicates that the post-2000 generation is a significant group among carpool passengers. Among surveyed passengers, around 10% identify as university students. Carpool drivers are primarily aged 31-40 and 41-50, with respective shares of 43.9% and 30.4%, totaling 74.3% [1][3]. Vehicle Trends - From 2019 to 2025, the proportion of newly certified vehicles aged one year or less and two years or less is on the rise. By 2025, the share of vehicles aged one year or less among new certifications has increased sixfold compared to 2019, while the share of vehicles aged two years or less has grown by over five times [2][4]. Brand Rankings - The report ranks the total commuting order completion volume for certified carpool drivers from January to October 2025, with the top ten brands being Tesla, Xpeng, Leap Motor, NIO, Zeekr, Li Auto, Hongmeng Zhixing, Zhiji, Leda, and Xiaomi [2][4]. Regional Insights - The data indicates that regions with larger and denser cross-city carpool commuting orders are primarily concentrated in the Pearl River Delta, Yangtze River Delta, Beijing-Tianjin-Hebei, Shandong Peninsula, and Chengdu-Chongqing city clusters. The top five cities with the highest frequency of commuting carpooling are Shanghai, Dalian, Qingdao, Tianjin, and Shenyang [2][4].

Core Viewpoint - The article discusses the unique social dynamics and market opportunities in the Middle East, particularly focusing on how Chinese companies have successfully adapted their products to meet local cultural preferences and social habits, leading to significant growth in the region's entertainment and social media sectors [3][8][12]. Group 1: Market Characteristics - The Middle East is characterized by a strong social culture, with locals frequently gathering in cafes and public spaces to socialize, especially during the cooler evening hours [3][4]. - The region has a high demand for social interaction and entertainment, which has been successfully translated into online platforms by Chinese companies [6][8]. - Users in the Middle East are highly engaged with social media, averaging 8.4 accounts per person, with UAE users reaching 10.5 accounts, indicating a strong market for social applications [8][12]. Group 2: Company Performance - Yalla and Chaozi City (赤子城) have emerged as significant players in the Middle Eastern social media market, with Chaozi City reporting a revenue growth of over 50% in 2024, reaching 5.1 billion yuan [9]. - In the first half of 2025, Chaozi City's revenue grew by 40% to 3.2 billion yuan, with a net profit increase of 118% to approximately 500 million yuan [9]. - Yalla's revenue for 2024 was reported at 340 million USD (approximately 2.39 billion yuan), with a stock price increase of over 70% since the beginning of the year [9]. Group 3: Cultural Adaptation and Localization - Successful products like TopTop and Yalla have been developed through extensive local research, ensuring they align with the cultural and social habits of Middle Eastern users [6][7]. - Features such as family badges in TopTop were inspired by local customs, enhancing user engagement by reflecting cultural identity [7]. - Yalla's design is rooted in the traditional "Majlis" culture, facilitating a familiar social experience for users [7][8]. Group 4: Challenges and Market Entry - Entering the Middle Eastern market requires significant investment and time to build local networks, which can be a challenge for companies used to faster-paced environments [4][16]. - The market has high entry barriers, with initial costs for registration and compliance being substantial, often requiring millions to establish a presence [16][17]. - As competition increases, companies that have already established a foothold in the region are likely to perform better, making it harder for new entrants to succeed [17].