消息面上，巨星传奇日前发盈警，预计上半年纯利不超过850万人民币，相较去年同期录得2,550万人民 币，跌幅约67%。溢利减少乃主要由于香港上市股本证券投资公平值亏损约1,950万人民币。撇除上述 非经营性影响，本期经调整综合溢利预期不超过人民币2800万元，相较去年同期增加不多于9.8%。 此外，公告指出，近期，集团在业务拓展及战略部署方面稳步推进，IP战略转型所带来的短期业绩波动 与长期价值重塑正在重构市场预期。展望下半年，集团将加快IP自营产品建设，推进机器人商店、IP实 体店等渠道布局，持续优化运营管理，巩固在IP创造及运营领域的行业地位，构建具备长期投资价值的 企业。 巨星传奇(06683)再跌超4%，截至发稿，跌4.04%，报11.65港元，成交额1.83亿港元。 ...

Core Viewpoint - The company, Giant Star Legend, has issued a profit warning, expecting a significant decline in net profit for the first half of the year, primarily due to losses in fair value of securities investments [1] Financial Performance - The expected net profit for the first half is not to exceed 8.5 million RMB, a decrease of approximately 67% compared to 25.5 million RMB in the same period last year [1] - Excluding non-operating impacts, the adjusted comprehensive profit is anticipated to be no more than 28 million RMB, reflecting an increase of up to 9.8% year-on-year [1] Strategic Development - The company is making steady progress in business expansion and strategic deployment, with short-term performance fluctuations due to the IP strategic transformation [1] - Plans for the second half include accelerating the development of self-operated IP products and advancing the layout of robot stores and physical IP stores [1] - The company aims to continuously optimize operational management and solidify its industry position in IP creation and operation, building long-term investment value [1]

Core Viewpoint - The company, 巨星传奇, issued a profit warning, expecting a significant decline in net profit for the first half of the year, primarily due to losses in equity investments [1] Financial Performance - The company anticipates net profit not exceeding 8.5 million RMB, a decrease of approximately 67% compared to 25.5 million RMB in the same period last year [1] - Excluding non-operating impacts, the adjusted comprehensive profit is expected to be no more than 28 million RMB, reflecting an increase of up to 9.8% year-on-year [1] Strategic Transformation - The company is actively pursuing a strategic transformation in its IP business, driven by explosive growth in the IP industry [1] - Although this transformation may impact short-term performance, it is aimed at establishing a solid foundation for high-quality long-term development [1] - The company is making steady progress in business expansion and strategic deployment, with short-term performance fluctuations being restructured by long-term value creation [1] Future Outlook - In the second half of the year, the company plans to accelerate the development of self-operated IP products and expand channels such as robot stores and IP physical stores [1] - The company aims to continuously optimize operational management and solidify its industry position in IP creation and operation, building a company with long-term investment value [1]

智通财经APP获悉，巨星传奇(06683)盈警后跌超4%，截至发稿，跌2.6%，报11.97港元，成交额2647.55 万港元。 公告称，随着IP产业爆发式增长带来的战略机遇，集团正积极推进IP业务的战略性转型升级。该转型虽 对集团短期业绩增速造成一定影响，但为中长期的高质量发展奠定坚实基础。近期，集团在业务拓展及 战略部署方面稳步推进，IP战略转型所带来的短期业绩波动与长期价值重塑正在重构市场预期。展望下 半年，集团将加快IP自营产品建设，推进机器人商店、IP实体店等渠道布局，持续优化运营管理，巩固 在IP创造及运营领域的行业地位，构建具备长期投资价值的企业。 消息面上，巨星传奇发布盈警，预计上半年纯利不超过850万人民币，相较去年同期录得2,550万人民 币，跌幅约67%。溢利减少乃主要由于香港上市股本证券投资公平值亏损约1,950万人民币。撇除上述 非经营性影响，本期经调整综合溢利预期不超过人民币2800万元，相较去年同期增加不多于9.8%。 ...

Core Viewpoint - The company anticipates a significant decrease in comprehensive profit for the six months ending June 30, 2025, projecting not to exceed RMB 8.5 million, a decline of approximately 67% compared to RMB 25.5 million for the same period in 2024 [1] Financial Performance - The expected decrease in profit is primarily attributed to a fair value loss of approximately RMB 19.5 million from Hong Kong-listed equity securities, which is not directly related to the company's core business [1] - Excluding this non-operating impact, the adjusted comprehensive profit is expected to be no more than RMB 28 million, representing an increase of up to 9.8% compared to the same period last year [1] Strategic Transformation - The company is actively pursuing a strategic transformation in its IP business, driven by explosive growth opportunities in the IP industry [1] - Although this transformation may impact short-term performance, it is aimed at establishing a solid foundation for high-quality development in the medium to long term [1] Business Development - The company is steadily advancing in business expansion and strategic deployment, with short-term performance fluctuations from the IP strategic transformation reshaping market expectations [1] - Looking ahead to the second half of the year, the company plans to accelerate the development of self-operated IP products and expand channels such as robot stores and IP physical stores, while continuously optimizing operational management [1] - The goal is to solidify its industry position in IP creation and operation, building a company with long-term investment value [1]

Group 1 - The company expects a consolidated profit of no more than RMB 8.5 million for the six months ending June 30, 2025, representing a decrease of approximately 67% compared to RMB 25.5 million for the same period ending June 30, 2024 [1] - The anticipated profit decline is primarily due to a fair value loss of approximately RMB 19.5 million from Hong Kong-listed equity securities, which is not directly related to the company's core business [1] - Excluding the non-operating impact, the adjusted consolidated profit is expected to be no more than RMB 28 million, reflecting an increase of no more than 9.8% compared to the previous year [1] Group 2 - The company is actively pursuing a strategic transformation and upgrade of its IP business, driven by explosive growth in the IP industry [1] - Although this transformation may impact short-term performance, it is expected to lay the foundation for high-quality development in the medium to long term [1] - The company plans to accelerate the construction of self-operated IP products and expand channels such as robot stores and IP physical stores, while optimizing operational management to strengthen its industry position in IP creation and operation [1] Group 3 - The company recently completed a placement and subscription, issuing 37.5245 million new shares, accounting for approximately 4.18% of the enlarged share capital [2] - The net proceeds from this placement amount to approximately HKD 324 million, which will primarily be used to enhance self-operated IP products, including the purchase and R&D costs of vending machines and mechanical equipment, as well as expanding IP physical stores [2] - "Zhou Tongxue" is currently the most representative core IP of the company, seen as a key achievement in the systematic creation, refined operation, and commercialization of celebrity IP [2]

Core Viewpoint - The company expects a significant decrease in comprehensive profit for the six months ending June 30, 2025, with an estimated profit not exceeding RMB 8.5 million, representing a decrease of approximately 67% compared to RMB 25.5 million for the same period in 2024 [1] Financial Performance - The anticipated profit decline is primarily attributed to a fair value loss of approximately RMB 19.5 million from Hong Kong-listed equity securities, which is not directly related to the company's core business [1] - Excluding this non-operational impact, the adjusted comprehensive profit is expected to be no more than RMB 28 million, reflecting an increase of up to 9.8% compared to the previous year [1] Strategic Transformation - The company is actively pursuing a strategic transformation in its IP business, driven by explosive growth opportunities in the IP industry [1] - Although this transformation may impact short-term performance, it is aimed at establishing a solid foundation for high-quality long-term development [1] Business Development - The company is steadily advancing in business expansion and strategic deployment, with short-term performance fluctuations from the IP strategic transformation reshaping market expectations [1] - Looking ahead to the second half of the year, the company plans to accelerate the development of self-operated IP products and enhance channel layouts, including robot stores and IP physical stores [1] - The company aims to continuously optimize operational management and solidify its industry position in IP creation and operation, building a company with long-term investment value [1]

Core Viewpoint - The company expects a significant decrease in comprehensive profit for the six months ending June 30, 2025, with an estimated profit not exceeding RMB 8.5 million, representing a decrease of approximately 67% compared to RMB 25.5 million for the same period ending June 30, 2024 [1] Financial Performance - The anticipated decrease in profit is primarily attributed to a fair value loss of approximately RMB 19.5 million from Hong Kong-listed equity securities, which is not directly related to the company's core business [1] - Excluding this non-operating impact, the adjusted comprehensive profit is expected to be no more than RMB 28 million, reflecting an increase of up to 9.8% compared to the previous year [1] Strategic Initiatives - The company is actively pursuing a strategic transformation and upgrade of its IP business in response to explosive growth opportunities in the IP industry [1] - Although this transformation may impact short-term performance, it is aimed at establishing a solid foundation for high-quality development in the medium to long term [1] Business Development - The company is steadily advancing in business expansion and strategic deployment, with short-term performance fluctuations from the IP strategic transformation reshaping market expectations [1] - Looking ahead to the second half of the year, the company plans to accelerate the development of self-operated IP products and expand channels such as robot stores and IP physical stores, while continuously optimizing operational management to strengthen its industry position in IP creation and operation [1]

Core Viewpoint - The popularity of the drama "The Lychee of Chang'an" has temporarily boosted tourism in Xi'an and the stock price of Qujiang Cultural Tourism Co., Ltd, but the company continues to face significant financial losses over the past three years, indicating that the "Lychee boom" may not be a sustainable solution to its financial troubles [2][3][4]. Financial Performance - In 2024, Qujiang Cultural Tourism reported an annual revenue of 1.253 billion yuan, a year-on-year decrease of 16.68%, with a net profit attributable to shareholders of -131 million yuan, which is a 32.79% improvement from the -195 million yuan loss in 2023 [3]. - The company expects a net loss of 13 million to 16.9 million yuan for the first half of 2025, a significant reduction of 90.96% to 93.05% compared to the 187 million yuan loss in the same period last year [4]. - The reduction in losses is primarily attributed to non-recurring gains, while the core business continues to face challenges [4]. Business Model and Challenges - Qujiang Cultural Tourism operates as a light-asset operator, relying on government payments for scenic area management rather than ticket revenue, leading to a decline in income from core business operations [3]. - Three out of four major subsidiaries that significantly impact net profit reported losses, indicating underlying financial vulnerabilities [3]. Market Response and IP Strategy - The drama's release led to a surge in tourism, with daily visitors to the 大唐不夜城 increasing by 600%, and overall tourism search volume in Xi'an rising by 320% [7]. - The company has initiated an IP strategy to monetize its assets, including the registration of 13 core scenic area trademarks and collaborations with brands for product development [8]. - Despite the initial success of the drama, the long-term sustainability of revenue generation from such IPs remains uncertain, as the company struggles with high operational costs and low profitability [6][10]. Cultural Impact and Future Outlook - The integration of cultural and tourism experiences is seen as a way to enhance consumer engagement, but the company must focus on extending its revenue streams beyond reliance on fleeting trends [9][10]. - Experts suggest that the company needs to strengthen its IP management and avoid over-reliance on short-term popularity to ensure long-term financial health [10].