证券日报网讯 12月23日，星辉娱乐在互动平台回答投资者提问时表示，公司与江西贪玩、浙江争游暂 无合作，业务合作情况请留意公司相关公告及官方新闻发布。 （文章来源：证券日报） ...

证券代码：300043 证券简称：星辉娱乐 公告编号：2025-052 星辉互动娱乐股份有限公司 2025年员工持股计划第一次持有人会议决议公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、持有人会议召开情况 星辉互动娱乐股份有限公司(下称"公司")2025 年员工持股计划（以下简称"本 次员工持股计划"）第一次持有人会议（以下简称"持有人会议"、"会议"）于 2025 年 12 月 17 日在公司会议室以现场结合通讯方式召开，本次会议由董事会秘书 孙琦先生召集和主持，出席本次会议的持有人共 57 人，代表本次员工持股计划份额 7,447,200 份，占本次员工持股计划已授予份额总数的 100%。本次会议的召集、召 开和表决程序符合相关法律法规及公司《2025 年员工持股计划（草案）》《2025 年员工持股计划管理办法》的有关规定。 二、持有人会议审议情况 （一）审议通过《关于设立公司2025年员工持股计划管理委员会的议案》； 为保证本次员工持股计划的顺利实施，保障持有人的合法权益，根据公司《2025 年员工持股计划（草案）》和《2025年员工持股计 ...

本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 星辉互动娱乐股份有限公司(下称"公司")于 2025 年 8 月 28 日召开第六届董 事会第十三次会议和第六届监事会第十二次会议，并于 2025 年 9 月 16 日召开 2025 年第二次临时股东大会，审议通过了《关于公司<2025 年员工持股计划（草案）>及 其摘要的议案》《关于公司<2025 年员工持股计划管理办法>的议案》《关于提请股 东大会授权董事会办理员工持股计划相关事宜的议案》，具体内容详见公司于 2025 年 8 月 29 日、2025 年 9 月 16 日在巨潮资讯网披露的相关公告。 证券代码：300043 证券简称：星辉娱乐 公告编号：2025-051 星辉互动娱乐股份有限公司 关于2025年员工持股计划首次授予部分非交易过户 完成的公告 截至 2024 年 12 月 25 日，上述回购方案已实施完毕，公司通过股份回购专用证 券账户以集中竞价交易方式累计回购公司股份 2,709,100 股，占公司目前总股本的 0.22%，最高成交价为 3.80 元/股，最低成交价为 3.55 元/股，成交 ...

Group 1 - The core viewpoint of the news is that Xinghui Entertainment has shown significant stock performance, with a year-to-date increase of 59.78% and a recent trading volume indicating active investor interest [1] - As of December 18, the stock price reached 5.80 CNY per share, with a total market capitalization of 7.216 billion CNY [1] - The company has experienced a net inflow of main funds amounting to 4.2263 million CNY, with large orders contributing significantly to the trading activity [1] Group 2 - Xinghui Entertainment's main business segments include gaming (35.76%), player transfers (19.13%), and toy sales (17.72%), among others [2] - For the period from January to September 2025, the company reported a revenue of 1.727 billion CNY, reflecting a year-on-year growth of 67.03%, and a net profit of 268 million CNY, which is a 216.26% increase compared to the previous year [2] - The company has distributed a total of 363 million CNY in dividends since its A-share listing, with 12.4149 million CNY distributed in the last three years [3]

Core Viewpoint - Xinghui Interactive Entertainment Co., Ltd. (referred to as "Xinghui Entertainment") has attracted market attention due to recent actions, including a share reduction plan by its controlling shareholder, Chen Yansheng, and his associate, Chen Dongqiong, citing personal funding needs [2][4]. Group 1: Share Reduction Plan - The controlling shareholders plan to reduce their holdings by up to 36,003,100 shares, representing 2.90% of the total share capital after excluding shares in the company's repurchase account, within three months after the announcement [2][4]. - Prior to the reduction, Chen Yansheng and Chen Dongqiong held a combined total of 430,776,567 shares, accounting for 34.70% of the total share capital after excluding repurchased shares [4]. Group 2: Sale of Spanish Club - The share reduction follows the divestment of the Spanish club, RCD Espanyol, where Xinghui Entertainment's subsidiaries sold a 99.66% stake to VELOCITY SPORTS LTD [4]. - Xinghui Entertainment received €6.5 million in cash from VELOCITY and shares valued at €25 million and €40 million from VELOCITY, respectively, totaling 38.26 shares of A-class stock [5]. Group 3: Financial Impact - The transaction is expected to increase Xinghui Entertainment's net profit attributable to the parent company by approximately RMB 47.07 million by September 30, 2025, with a notable difference from previous profit estimates [5]. - For the first three quarters of 2025, Xinghui Entertainment reported revenues of RMB 1.727 billion, a net profit of RMB 268 million, and a significant increase in net cash flow from operating activities, which reached RMB 408 million, up 259.78% year-on-year [6]. Group 4: Business Concerns - Despite strong financial performance, the sale of equity is a one-time revenue event, and there are underlying concerns regarding the core business, particularly in the gaming sector [7]. - The gaming business faces challenges such as high promotional costs, declining product life cycles, and heavy reliance on intellectual property, with key products like "Three Kingdoms: Heroes of the Era" being over eight years old [8].

Core Insights - Xinghui Entertainment announced that "Three Kingdoms Heroes: Strategy of the Nine Provinces" will launch a full platform public beta in October 2025, achieving top rankings on various app stores [2] - The game "Ragnarok: Dawn" will be released in Southeast Asia in October 2025, achieving significant rankings on iOS in Thailand, the Philippines, and Malaysia [2] - The company plans to focus on its core business of "toys + games" and will implement operational strategies to enhance management efficiency [2] - Shareholder reductions in holdings are attributed to personal financial arrangements [2]

Group 1 - The core games "Three Kingdoms Heroes: Strategy of the Nine Provinces" and "Ragnarok: Dawn" are set to launch in October 2025, with strong initial rankings on various app stores [1] - The company aims to focus on its core business of "toys + games" and will implement its operational strategies to enhance management efficiency [1] - The major shareholder's decision to reduce their stake by 2.9% is attributed to personal financial arrangements [1]

Core Insights - The company announced that "Three Kingdoms Heroes: Strategy of the Nine Provinces" will launch its public beta on all platforms in October 2025, achieving top rankings on various app stores [1] - "Ragnarok: Dawn" will be released in Southeast Asia in October 2025, with strong initial performance on iOS charts in Thailand, the Philippines, and Malaysia [1] - The company plans to focus on its core business of "toys + games" and aims to enhance its operational management [1] - Shareholder reduction in holdings is attributed to personal financial arrangements [1] Game Launch Performance - "Three Kingdoms Heroes: Strategy of the Nine Provinces" reached the number one position on Tencent's app store and other notable rankings [1] - "Ragnarok: Dawn" achieved first place on the iOS free chart in Thailand and second place on the revenue chart, as well as strong rankings in the Philippines and Malaysia [1] Future Business Strategy - The company intends to further concentrate on its "toys + games" core business and implement operational strategies to improve management efficiency [1] Shareholder Actions - The reduction of holdings by major shareholders is due to personal financial needs rather than strategic investor introductions [1]

Core Insights - Huawei launched its first AI companion robot "Hanhan" priced at 399 yuan, aimed at the family scene and part of its broader smart ecosystem strategy [4] - The AI toy market in China is projected to grow from approximately 24.6 billion yuan in 2024 to 29 billion yuan in 2025, driven by technological advancements and consumer upgrades [4][5] - The AI toy industry is characterized by stronger product integration, redefined functional roles, and a comprehensive user demographic, catering to diverse consumer needs across all age groups [5] Industry Trends - The integration of AI technology into traditional toys is reshaping product forms and value chains, making AI toys a new engine for high-quality industry development [4][5] - AI toys are evolving from mere entertainment to multifunctional "smart partners" that provide educational, emotional, and creative support [5] - The global AI toy market is expected to grow from 18.1 billion USD in 2024 to 60 billion USD by 2033, with a compound annual growth rate of approximately 14% [6] Market Performance - Over 20 A-share companies are involved in the AI toy sector, with significant stock price increases observed, including a collective market capitalization of nearly 340 billion yuan for AI toy concept stocks [6] - Notable performers include Heertai, Zhongshi Technology, and Rongxin Culture, with year-to-date stock price increases exceeding 50% [6] - Institutional research on AI toy concept stocks has been frequent, with over 200 instances of institutional inquiries recorded this year [6][7]

Core Viewpoint - In November 2025, the National Press and Publication Administration approved a total of 178 domestic online games, including titles such as "Hero's Path," "Dream of Journey to the West: The Calamity of Li You," "Dark Blade," "Starry Ideal Country," and "True Dragon War Record" [1]. Group 1: Game Approval Details - A total of 178 games were approved in November 2025 [1]. - Notable approved games include "Dark Blade," "Shadow Miracle," and "Pride of the World" [1][3]. - The approval date for these games is November 26, 2025 [3]. Group 2: Publisher and Developer Information - Various publishers and developers are involved, such as Shanghai Sound and Image Electronic Publishing and Beijing Baidu Duokoo Technology [3][4]. - The games span multiple categories, primarily mobile and mobile casual puzzle games [3][4]. Group 3: ISBN and Approval Codes - Each approved game is assigned an ISBN, with examples including ISBN 978-7-498-15877-2 for "Dark Blade" [3]. - Approval codes are also provided, such as "Guoxin Chuan Shen (2025) 2213" for "Dark Blade" [3]. Group 4: Game Categories - The approved games include various genres, with a significant number categorized as mobile and mobile casual puzzle games [3][4]. - The diversity in game types indicates a broadening of the gaming market in China [1].