Core Viewpoint - The 9th World Zhejiang Business Forum and the 2025 Shanghai Zhejiang Chamber of Commerce Annual Meeting highlighted the theme of "running forward," exploring new development paths amid global economic changes and technological revolutions. Century Huatong was awarded the "Flowing Global Award" for its outstanding performance in globalization, industrial innovation, and high-quality development [1][6]. Group 1: Award Significance - The "Golden Name Card" award aims to recognize member enterprises that excel in innovation, craftsmanship, quality leadership, and globalization, reflecting the spirit and responsibility of Zhejiang merchants [2][8]. - Century Huatong's focus on the core gaming industry and its active expansion into international markets have established a global distribution system, contributing to global industrial upgrades [2][8]. Group 2: Financial Performance - Century Huatong reported a revenue of 27.223 billion yuan and a net profit of 4.357 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 141.65% [2][8]. - The company's net profit after deducting non-recurring items reached 4.294 billion yuan, also reflecting a year-on-year growth of 140.98%, with operating cash flow increasing by 81.33% to 6.278 billion yuan [2][8]. Group 3: Market Position - In the competitive global gaming market, Century Huatong's overseas gaming business has become a key growth driver, ranking second among Chinese mobile game publishers globally [5][10]. - The company's game "Whiteout Survival" topped the overseas mobile game revenue list, while "Kingshot" and "Tasty Travels: Merge Game" also achieved significant rankings [5][10]. - The "Flowing Global Award" acknowledges Century Huatong's commitment to global market development and its embodiment of the Zhejiang merchant spirit [5][10].

Group 1 - A-shares financing balance has reached a new high of 27,012.4 billion yuan, with a net buy of 1,006.51 billion yuan this week [2][20] - The electronics and computer sectors saw net purchases exceeding 10 billion yuan, with amounts of 16.445 billion yuan and 11.438 billion yuan respectively [2][20] - The power equipment sector is expected to benefit from increased fixed asset investments by the State Grid Corporation, projected to reach 400 billion yuan during the 14th Five-Year Plan, a 40% increase from the previous plan [4][21] Group 2 - Notable stocks with significant net purchases include China Ping An (3.343 billion yuan), TBEA (2.279 billion yuan), and Zhongji Xuchuang (1.979 billion yuan) [4][24] - The storage chip sector is experiencing a "super bull market," with DDR5 memory prices rising over 300% since September 2025, and DDR4 prices increasing over 150% [23] - Investors are optimistic about the power sector, with 9% of surveyed investors expressing confidence in this area, driven by the anticipated investments in the power grid [15][33]

Core Viewpoint - Century Huatong is facing legal claims from investors due to false statements in its financial reports, particularly regarding goodwill impairment and revenue recognition issues [2][5][6] Group 1: Legal Proceedings and Investor Claims - Shanghai Jiucheng Law Firm is actively pursuing claims for investors affected by Century Huatong's false statements, with some cases already resulting in compensation [1][4] - Investors who purchased Century Huatong shares between April 27, 2019, and July 25, 2023, are eligible to file claims, even if they sold their shares for a profit after the disclosure date [1][6] Group 2: Regulatory Findings - On November 6, 2024, Century Huatong received an administrative penalty from the China Securities Regulatory Commission (CSRC) for false records in its annual reports from 2018 to 2022 [2][5] - The company failed to conduct goodwill impairment tests as required, resulting in an underreporting of goodwill impairment provisions by 62.363 million yuan in 2018 [5] - There were errors in the disclosure of goodwill values and segment reporting in annual reports from 2019 to 2022, which did not comply with accounting standards [6] Group 3: Revenue Recognition Issues - Century Huatong is accused of fabricating software copyright transfer transactions and prematurely recognizing revenue, leading to inflated revenues in 2020 and 2021 [6] - The company falsely reported the completion of performance commitments related to its software transactions, further misleading investors [6]

Summary of Key Points from Conference Call Records Industry Overview - The media industry is currently experiencing overall weak performance, with the media index declining over 2.5% despite some segments showing investment potential [4][6] - Official media and state-owned enterprises, such as People’s Daily and Xinhua News, are gaining importance due to their high content weight, making them worthy of attention [4][12] Investment Opportunities - The gaming sector is expected to thrive in 2026, driven by multi-modal AI advancements. Companies like Kaixin Network and Century Huatong are anticipated to realize profits in 2026 [4][5] - The issuance of game licenses is expected to increase significantly in 2025, providing ample supply for the gaming industry. The total number of licenses issued in 2025 is projected to exceed 1,711, a 25% year-on-year increase [5][6] - Low-valuation gaming companies with solid fundamentals, such as Perfect World, Century Huatong, and Giant Network, are recommended for continued observation [4][5] Market Projections - The gaming market is projected to reach a peak of over 90 billion yuan in the third quarter of 2026, with an annual market size expected to hit 357 billion yuan [6] - The two-dimensional game market is anticipated to grow rapidly, potentially reaching 84.5 billion yuan by 2030, driven by a strong consumer base among post-2000 players [7] Performance of Chinese Companies - Chinese companies hold a significant position in the global mobile gaming market, with Tencent's Honor of Kings leading in revenue. Century Huatong's Endless Winter has seen explosive growth [6][8] - Chinese firms are achieving notable success in the two-dimensional game market, with several top titles developed or managed by them, such as "崩铁" and "恋与深空" [8] Trends in Game Development - The SLG (Strategy Game) category is performing well, particularly with the SLG + X model, which combines secondary gameplay to attract users. This trend is expected to continue [9] - The hybrid casual gaming segment has shown significant growth, with revenues doubling year-on-year in Q2 2025 and a staggering 114% increase in Q3 [9] Key Products and Companies to Watch - Notable upcoming products include new titles from Century Huatong, Shenzhou, Giant Network, and others, with significant IP launches expected in 2026 [10][11] Importance of Authoritative Media - In the current SEO to GO era, the reliability and accuracy of authoritative media have become crucial. The penetration rate of AI-generated content increases by 80% when information is cited by three or more authoritative sources [12] Risks for Investors - Investors should be aware of potential risks, including delays or quality issues with new game launches, international trade risks, industry regulatory risks, and the underperformance of AI technology implementation [13]

Group 1 - Zhongyuan Neipei plans to acquire 59% stake in Zhongyuan Jikean for 143 million yuan, making it a wholly-owned subsidiary [1] - HNA Holding reports a 2.8% year-on-year increase in passenger transport volume for December 2025, with international passenger transport volume up by 21.95% [2] - Haolai Ke expects a net profit decrease of 75.16% to 83.23% for 2025, projecting a profit of 13.5 million to 20 million yuan [3] Group 2 - Chengdu Investment Holdings reports a 71.41% year-on-year decrease in signed sales amount for Q4 2025, totaling 2.318 billion yuan [4] - Zhong Rare Metals signs a strategic cooperation agreement with Xian Dao Group to enhance market share in rare metals [5] - Bofei Electric plans to invest 23.38 million yuan in Haining Qiyuan alongside its controlling shareholder [6] Group 3 - Rongchang Bio plans to increase the maximum repurchase price to 116 yuan per share [7] - Filihua's controlling shareholders and executives plan to reduce their holdings by up to 1.05% of the company's shares [8] - Jiu Zhi Tang's general manager plans to reduce holdings by up to 2% of the company's shares [10] Group 4 - Aerospace Development's controlling shareholder reduced 12.26 million shares during stock trading fluctuations [11] - Nong Shang Environment's subsidiary faces delays in a computing infrastructure project due to funding issues [12] - Xinhua Department Store denies rumors of injecting semiconductor assets into the company [13] Group 5 - Jin Ao Bo expects a net profit increase of 40.24% to 59.58% for 2025, projecting a profit of 174 million to 198 million yuan [21] - Zhejing Pharmaceutical receives approval for clinical trials of ZGGS18 and ZG005 for advanced solid tumors [22] - Guangdong Hongtu anticipates a net profit decrease of 7.99% to 17.87% for 2025, projecting a profit of 341 million to 382 million yuan [23] Group 6 - Aijian Group expects to report a net loss for 2025 [24] - Shuangliang Energy also anticipates a net loss for 2025 [25] - Jia Mei Packaging announces early redemption of convertible bonds due to stock price conditions [26] Group 7 - Jindao Technology plans to issue convertible bonds to raise up to 306 million yuan for various projects [27] - Xinlei Co. extends the lock-up period for shares held by its controlling shareholder and actual controllers until January 19, 2027 [28] - Genesis expects a net profit decrease of 30% to 45% for 2025, projecting a profit of 131 million to 166 million yuan [29] Group 8 - Defu Technology plans to repurchase shares for employee stock ownership plans, with a budget of 75 million to 150 million yuan [30] - Huasheng Tiancheng states that AI-related revenue is currently a small portion of overall revenue [32] - Hongchuan Wisdom's shareholder plans to reduce holdings by up to 2% of the company's shares [33] Group 9 - Century Huatong's subsidiary plans to invest 50 million yuan in a financial development fund [34] - Liou shares will be suspended for trading due to significant stock price fluctuations [35] - Golden Dragon Fish plans to transfer stakes in two subsidiaries to Mars China for a total of 60 million USD [36] Group 10 - Mountain Outside Mountain's shareholder plans to reduce holdings by up to 1% of the company's shares [37] - Keheng Co. plans to sign a cooperation framework agreement with Gree Supply Chain for procurement [38] - Tian Sheng New Materials announces a change in actual controller and resumes trading [40] Group 11 - Xinghua New Materials plans to acquire at least 51% of Tian Kuan Technology for cash [41] - Rongbai Technology continues to delay responses to the Shanghai Stock Exchange's inquiries, leading to ongoing stock suspension [42] - Longxin Zhongke's shareholders plan to reduce holdings by up to 3.03% of the company's shares [43]

本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【世纪华通子公司出资5000万参与投资上海金融发展投资基金二期】1月15日，世纪华通公告，其下属 全资子公司上海盛趣数盟企业管理有限公司近日签署《上海金融发展投资基金二期有限合伙协议》，参 与投资该基金二期。 公司委任上海金浦投资管理有限公司担任合伙企业管理人，负责投资、管理和运 营。 盛趣数盟作为有限合伙人之一，以自有资金认缴出资5000万人民币，占合伙企业出资总额的 41.12%。 该基金主要投资于高端装备智能制造、新能源、高科技等领域。 ...

Core Viewpoint - Century Huatong's subsidiary, Shanghai Shengqu Shuming Enterprise Management Co., Ltd., has signed a partnership agreement to invest in the Shanghai Financial Development Investment Fund II, focusing on high-end equipment intelligent manufacturing, new energy, and high technology sectors [1] Group 1 - The company has committed to invest 50 million RMB, representing 41.12% of the total contributions to the partnership [1] - The partnership includes several other investors such as Shanghai Ruituo Xinke Enterprise Management Partnership and Qingdao Jinxuan Investment Center [1] - Shanghai Jinpu Investment Management Co., Ltd. has been appointed as the managing partner responsible for investment, management, and operations of the partnership [1]

Core Viewpoint - Century Huatong (002602.SZ) has announced its subsidiary, Shanghai Shengqu Shuming Enterprise Management Co., Ltd., will invest in the Shanghai Financial Development Investment Fund Phase II (Limited Partnership) with a total commitment of 50 million RMB, representing 41.12% of the fund's total capital [1]. Group 1 - The subsidiary, Shengqu Shuming, has signed a partnership agreement with several entities to participate in the investment fund [1]. - The fund will be managed by Shanghai Jinpu Investment Management Co., Ltd., which will oversee the investment, management, and operation of the partnership [1]. - The investment reflects Century Huatong's strategy to engage in financial development initiatives through its subsidiary [1].

Core Viewpoint - Century Huatong (002602) announced an investment in the Shanghai Financial Development Investment Fund Phase II, leveraging expertise in the semiconductor sector to support its internet gaming, AI cloud data, and digital content applications [1] Group 1: Investment Details - Century Huatong's wholly-owned subsidiary, Shengqu Shuming, signed a partnership agreement with Shanghai Ruituo Xinke Enterprise Management Partnership (Limited Partnership) [1] - Shengqu Shuming committed to an investment of 50 million yuan, representing 41.12% of the total capital contribution to the partnership [1] Group 2: Strategic Benefits - The investment allows the company to utilize Shanghai Jinpu's professional judgment and industry resources in the semiconductor field [1] - The partnership benefits from comprehensive support from Shanghai in integrated circuits, commercial aerospace, and other areas, including policies, platforms, talent, and information [1] - This strategic move aims to continuously reserve quality projects for the company's internet gaming, AI cloud data, and digital content applications [1]

浙江世纪华通集团股份有限公司关于全资子公司 与专业投资机构共同投资的公告 证券代码：002602 证券简称：世纪华通 公告编号：2026-004 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、投资概述 浙江世纪华通集团股份有限公司（以下简称"公司"或"上市公司"）下属 全资子公司上海盛趣数盟企业管理有限公司（以下简称"盛趣数盟"）于近日与 上海锐拓芯科企业管理合伙企业（有限合伙）、青岛金选投资中心（有限合伙）、 济南金浦金融科技股权投资基金合伙企业（有限合伙）、宁波勤永创业投资合伙 企业（有限合伙）、王栋、李硕、任延红及王勇钢签署《上海金融发展投资基金 二期（陆）（有限合伙）有限合伙协议》（以下简称"合伙协议"），参与投资 上海金融发展投资基金二期（陆）（有限合伙）（以下简称"合伙企业"），并 委任上海金浦投资管理有限公司（以下简称"上海金浦"）担任合伙企业管理人， 负责合伙企业的投资、管理和运营。公司全资子公司盛趣数盟作为有限合伙人之 一以自有资金认缴出资 5,000 万人民币，占合伙企业出资总额的 41.12%。 根据《公司法》《深圳证券交易所股票上 ...