Core Viewpoint - The ticket sales for Lu Han's concert in Xi'an faced significant issues due to a system bug, leading to a failure in the normal ticketing process and resulting in customer dissatisfaction [6][7]. Group 1: Ticketing Issues - The ticket sales for the Xi'an concert were scheduled for June 29, but the ordinary ticketing phase did not open as planned, causing confusion among users [2][6]. - A total of 6,731 orders (8,128 tickets) made after the intended ticketing time will be refunded, and affected users will receive compensation in the form of discount vouchers [6][7]. Group 2: Market Context - The concert is part of Lu Han's "Season 4 Asia Tour," which has already seen high demand, with nearly 20,000 tickets sold out in 32 seconds during the Shanghai stop [7]. - The ticketing platform, Damai, has faced increased competition from other platforms like Maoyan and PiaoXingQiu, but still holds a significant market share, historically over 70% in the ticketing market [9]. Group 3: Financial Performance - Despite the ticketing issues, Damai reported a revenue of 2.057 billion yuan for the 2025 fiscal year, a year-on-year increase of 236%, indicating strong performance in the recovering live event market [10].

Group 1 - The news highlights a viral incident where a grandfather successfully purchased concert tickets for a popular artist using a newly registered account, raising questions about the advantages of new accounts in ticket purchasing [1][2] - According to the ticketing platform, all accounts have equal chances during ticket sales, and factors such as network, luck, and device performance play a significant role in the success of ticket purchases [1][2] - The concert ticket market has been booming, with many fans expressing frustration over the inability to secure tickets for popular events [2] Group 2 - Damai.com, established in 2004, is a comprehensive ticketing platform in China covering various live entertainment sectors, including concerts, theater, and sports events [3] - Alibaba Group fully acquired Damai.com in March 2017, integrating it into its cultural and entertainment strategy, and rebranding it under the Alibaba Cultural Entertainment Group [5] - In the fiscal year 2025, which is the first complete fiscal year post-acquisition, Alibaba Pictures reported revenues of 6.702 billion yuan, a 33% year-on-year increase, with adjusted EBITDA of 809 million yuan, up 61% [5] - With the growth of the offline performance market, Damai.com achieved 1.23 billion yuan in segment revenue during the reporting period, making it the most profitable segment for Alibaba Pictures [6] - Damai.com has been expanding its business upstream, accumulating six content brands covering various entertainment formats, including concerts, music festivals, and theater [6]

Q1 2025 Financial Results May 6, 2025 (Nasdaq: SEAT) Agenda Business Highlights & Updates Stan Chia, Chief Executive Officer 2 Financial Results & Outlook Lawrence Fey, Chief Financial Officer Important Disclaimers Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "can," "continue," "could," "design," "estimate," "expect," "f ...

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