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 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份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） 自願公告 根據受限制股份單位獎勵計劃購買股份 茲提述赤子城科技有限公司（「本公司」）於2023年4月27日就其有意向受限制股份 單位受託人及Three D Partners Limited提供資金，以根據受限制股份單位獎勵計 劃從市場按現行市價購買本公司股份作出的公告以及本公司分別於2023年4月28 日、2023年5月5日、2023年5月12日、2023年5月19日、2023年5月25日、2023 年6月2日、2023年6月9日、2023年6月16日、2023年6月23日、2023年6月30 日、2023年7月7日、2023年7月14日、2023年7月21日、2024年1月18日、2024 年7月17日、2024年7月19日、2024年7月24日、2024年7月26日、2024年10月4 日 ...

Group 1 - The "Ernst & Young Entrepreneur Award" 2025 has officially announced its winners, recognizing twelve outstanding entrepreneurs from mainland China and Hong Kong/Macau [2] - The award highlights significant contributions from the technology sector, showcasing innovative leaders in the industry [2] Group 2 - Dr. Zhang Shilong is a pioneer in China's analog chip industry and founded Shengbang Microelectronics in 2007, focusing on high-performance analog integrated circuits [4] - Shengbang Microelectronics became the first listed company in China's A-share market dedicated to analog chip design in 2017, earning the title of "leader in analog chips" [4] - The company emphasizes customer-centric innovation and aims to enhance its market share and profitability through technological advancements and international market expansion [4] Group 3 - Li Ping, co-founder and CEO of Chizi City Technology, has led the company to serve over 1 billion users across more than 150 countries, with a revenue exceeding 5 billion RMB and a market value over 18 billion RMB [7] - Under Li Ping's leadership, Chizi City Technology has developed a diverse product matrix, including global social platforms and niche social products, while establishing a strong presence in the Middle East and North Africa [7] - The company aims to continue its mission of creating valuable emotional experiences in the global social entertainment market [7]

Investment Rating - The report maintains a "Recommendation" rating for the media industry, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [2][40]. Core Views - The media sector is anticipated to experience a rebound, particularly in gaming and AI applications, with significant growth potential in these areas. The report emphasizes the importance of both sharpness and allocation in the current market environment [3][6]. - The gaming market is highlighted as entering a favorable valuation zone, with specific companies like Giant Network and Century Huatong recommended for investment [6][16]. - The film market is recovering, with the total box office reaching approximately 437.06 billion yuan, which is about 78% of the 2019 level, indicating a strong recovery trajectory [19][20]. Market Performance Review - The media sector index fell by 3.86% last week, underperforming the CSI 300 index, which rose by 1.28%, resulting in a relative underperformance of 5.14% [9][10]. - The total market capitalization of the media sector is approximately 19,595.28 billion yuan, with a circulating market value of 17,850.96 billion yuan [3]. Gaming Market Insights - Tencent's products dominate the iOS gaming market, with titles like "Peace Elite" and "Love and Deep Space" performing strongly [16]. - Upcoming game releases include "Rust" and "PUBG: BLACK BUDGET," which are expected to generate significant interest [18]. Film Market Overview - The film "Zootopia 2" has achieved a box office of nearly 23 billion yuan within six days, with projections suggesting it could help the total annual box office exceed 500 billion yuan [27]. - The total box office for the year has reached 437.06 billion yuan, with a recovery rate of approximately 78% compared to 2019 [19][22]. Important News and Company Announcements - The establishment of the first micro-short drama export base in Shanghai marks a significant development in the media industry [27]. - Tencent's Magic Cube Studio celebrated its 15th anniversary, announcing major updates for several IP titles, indicating ongoing innovation in the gaming sector [28].

Group 1 - The 20th "EY Entrepreneur Of The Year" award has recognized 12 entrepreneurs from mainland China, Hong Kong, and Macau, with many hailing from technology companies [1] - The award, established in 1986, has expanded to 79 countries and regions, aiming to honor entrepreneurs who have made significant impacts on industry development and social progress through vision, leadership, and innovation [1] - This year's winners include entrepreneurs from technology, life sciences, manufacturing, and services sectors, all leveraging technology to innovate products and operational models [1] Group 2 - Chen Ning, founder and CEO of Yuntian Lifei, has led the company to develop a leading NPU platform and has successfully launched four generations of self-developed NPU chips, making significant strides in the AI chip sector [2] - Huang Wei, founder and CEO of Yunzhi Sheng, has been a key player in the AI industry, focusing on full-stack AI technologies and achieving successful applications across various sectors, with the company set to list on the Hong Kong Stock Exchange in June 2025 [2] - Lu Xianping, chairman and general manager of Microchip Biotech, is dedicated to developing innovative drugs with new mechanisms, achieving significant breakthroughs in cancer and diabetes treatments [3] - The EY China Chairman emphasizes that a new wave of technological revolution and industrial transformation is reshaping global competition, and the award serves as a platform for entrepreneurs to collaborate and drive economic modernization in China [3] - The award highlights that entrepreneurs leading technological innovation are becoming a new driving force for China's future economic development [3]

Group 1: Investment Opportunities in Entertainment Sector - The core opportunities in the entertainment sector stem from domestic young users and overseas expansion, with key targets having a projected PE of around 15x for 2026 [1] - Giant Network is expected to see an increase in domestic DAU and revenue during the Spring Festival, with plans to expand its game "Supernatural" to Southeast Asia and Japan in 2026 [1] - 37 Interactive Entertainment received an administrative penalty on December 5, with a low PE and high dividend yield, and 32% of its revenue coming from overseas [1] Group 2: Key Players and Market Trends - Century Huatong's core SLG product remains strong, with a focus on the global expansion of casual games in 2026 [2] - Pop Mart is viewed as overly pessimistic regarding single IP expectations, with IP and regional expansion (Europe and America) being key growth drivers [2] - Zhi Zi Cheng's social entertainment business is thriving in the Middle East, with a projected revenue increase of 34.5% to 36.4% year-on-year for the first nine months of the year [2] Group 3: AI and Technology Developments - Companies like Tencent, NetEase, and Bilibili are exploring AI applications, with Bilibili launching "百将牌" in Q1 2026 and AI advertising options [3] - Baidu and Alibaba are focusing on AI infrastructure, with Baidu's Kunlun chip M100 set to launch in early 2026, optimized for large-scale inference scenarios [4] - The integration of AI applications into various sectors, including advertising and e-commerce, is being pursued by multiple companies, with a focus on short videos and IP [3]

2025年12月5日，香港 － 第二十届"安永企业家奖"评选结果今日揭晓，12位来自中国内地和中国香 港／澳门的商业翘楚从众多企业家中脱颖而出，获得殊荣。今年是"安永企业家奖"落地中国内地、 香港及澳门的第二十年，以"二十载不忘初心 新时代筑梦前行"为主题，旨在发掘在新时代背景下 勇于创新、敢于担当的优秀企业家，同时表彰那些秉持卓越精神，坚守初心，为中国民营经济作出 牵头贡献的企业家。 附录一 安永企业家奖2025获奖者（按行业类别，排名不分先后） 党的二十届四中全会擘画"十五五"发展蓝图，明确对"加快高水平科技自立自强，引领发展 新质生产力"进行专章战略部署，聚焦科技创新领域，彰显国家对民营企业布局新兴和未来 产业、开展科技攻关的重视和支持。今年的获奖者中，来自科技行业、生命科学与医疗健 康、制造业及服务业的企业家，无一不通过科技赋能，革新产品和营运模式，在创新的道 路上筑梦前行。 安永中国主席、大中华区首席执行官陈凯表示："当今世界，百年变局加速演进，新一轮科 技 革 命 和 产 业 变 革 正 重 塑 全 球 竞 争 格 局 。 而 中 国 ， 正 站 在 ' 十 五 五 ' 规 划 谋 篇 布 局 的 ...

Core Insights - The 20th "EY Entrepreneur Of The Year" awards were announced, recognizing 12 outstanding entrepreneurs from mainland China and Hong Kong/Macau, emphasizing innovation and commitment to the private economy in the new era [1] - The theme of this year's awards is "Twenty Years of Unwavering Original Intent, Building Dreams in the New Era," highlighting the importance of technology and innovation in driving business success [1] - The awards align with China's 14th Five-Year Plan, focusing on high-level technological self-reliance and the development of new productive forces [1][2] Group 1: Award Significance - The awards serve as a platform for entrepreneurs to exchange ideas and collaborate, reflecting the pulse of national economic development [2] - The event took place in Hong Kong, leveraging its unique position as a gateway for mainland companies to expand internationally [2] - The recognition of entrepreneurs is crucial for promoting new productive forces and supporting the construction of a modern economic system in China [2][3] Group 2: Industry Representation - Award winners come from various sectors, including technology, life sciences and healthcare, manufacturing, and services, all demonstrating innovation through technology [1][3] - The private economy has become an indispensable force in driving high-quality economic development and deepening global economic cooperation [3] - The implementation of the "Private Economy Promotion Law" in May aims to create a stable and transparent legal environment for private enterprises [3] Group 3: Notable Winners - In the technology sector, notable winners include: - Chen T, CEO of Shenzhen Yuntian Lifei Technology Co., Ltd. - Che, CEO of Yunzhisheng Intelligent Technology Co., Ltd. - Guijia Ya, Chairman of Simu Technology [5] - In the manufacturing sector, winners include: - Ge Jiang, Chairwoman of Weisheng Information Technology Co., Ltd. - Li Peiliang, Chairman of Dongjiang Group (Holdings) Limited [6] - In the life sciences and healthcare sector, Lu Xianping, Founder and CEO of Shenzhen Microchip Biotechnology Co., Ltd., was recognized [8]

2025年12月5日，香港 － 第二十届"安永企业家奖"评选结果今日揭晓，12位来自中国内地和中国香港／ 澳门的商业翘楚从众多企业家中脱颖而出，获得殊荣。今年是"安永企业家奖"落地中国内地、香港及澳 门的第二十年，以"二十载不忘初心 新时代筑梦前行"为主题，旨在发掘在新时代背景下勇于创新、敢 于担当的优秀企业家，同时表彰那些秉持卓越精神，坚守初心，为中国民营经济作出牵头贡献的企业 家。 安永企业家奖项目主席、安永大中华区业务主管合伙人毕舜杰表示："二十年来，'安永企业家奖'坚持 发掘和弘扬新时代企业家精神，我们不仅见证了中国经济从'学习者'、'追赶者'蜕变为'引领者'的征程， 更目睹了中国民营企业家们勇担重任、善作善成的磨砺与成长。获奖企业家以科技创新引领新质生产力 发展，成为推动中国未来经济发展的新动力。" 经过二十年的深刻变革，民营经济在推动中国经济高质量发展与深化全球经济合作方面，已成为不可或 缺的重要力量。今年五月实行的《中华人民共和国民营经济促进法》，为民营企业创造更加稳定、透明 的法律环境，让企业家安心经营、专心发展、全心创新，持续专注企业长期价值增长，引领行业可持续 发展。 "安永企业家奖"20 ...

Core Insights - The 20th "EY Entrepreneur Of The Year" awards were announced, recognizing 12 outstanding entrepreneurs from mainland China and Hong Kong/Macau, emphasizing innovation and commitment to the private economy [2][3] - The theme of this year's awards is "Twenty Years of Unwavering Commitment, Building Dreams in the New Era," highlighting the importance of technology and innovation in driving business success [2] - The awards ceremony took place in Hong Kong, showcasing its role as a vital platform for mainland companies to expand internationally [4] Group 1: Award Significance - The awards aim to discover and honor entrepreneurs who are innovative and responsible, contributing significantly to the private economy in China [2] - The event marks the 20th anniversary of the awards in China, reflecting on the evolution of the economy from a "learner" to a "leader" [4] - The recognition of entrepreneurs from various sectors, including technology, life sciences, manufacturing, and services, underscores the role of technology in transforming business models [2][4] Group 2: Economic Context - The 20th Central Committee's Fourth Plenary Session outlines a strategic focus on accelerating high-level technological self-reliance, emphasizing the importance of innovation in the new development phase [2] - The implementation of the "Private Economy Promotion Law" in May aims to create a stable and transparent legal environment for private enterprises, fostering long-term value growth [4] Group 3: Future Outlook - The EY Entrepreneur Of The Year program serves as a platform for entrepreneurs to connect and collaborate, supporting the development of a modern economic system in China [3] - The two winners of the EY Entrepreneur Of The Year will represent mainland China and Hong Kong/Macau at the 2026 EY World Entrepreneur Of The Year awards, highlighting their global competitiveness [5]

Core Viewpoint - Three D Partners Limited has been actively purchasing shares of Zhitong Technology (09911.HK) from the market, indicating a strategic investment approach during the specified period [1] Summary by Relevant Sections - **Share Purchase Details** - From April 28, 2023, to November 26, 2025, Three D Partners Limited acquired a total of 109,214,000 shares [1] - Subsequently, from November 27 to December 3, 2025, an additional 2,144,000 shares were purchased [1] - **Holding Period** - Three D Partners Limited plans to hold the shares acquired until they vest according to the restricted stock unit award plan [1]