Financial Data and Key Metrics Changes - The company generated full-year Adjusted EBITDA of $2.4 billion, down from $2.6 billion in 2024, reflecting lower ownership in three businesses following partial sales [17] - Adjusted EFO for the year was $1.2 billion, including $161 million of net gains during the year [17] - Excluding tax credits and the impact of acquisitions and dispositions, Adjusted EBITDA was $2.1 billion, compared to $2 billion in the prior year [17] Business Line Data and Key Metrics Changes - The industrial segment generated full-year Adjusted EBITDA of $1.3 billion, up from $1.2 billion last year, with a 10% increase excluding acquisitions and dispositions [18] - The business services segment generated full-year Adjusted EBITDA of $823 million, down from $832 million last year, but increased approximately 5% on a same-store basis [19] - The infrastructure services segment generated full-year Adjusted EBITDA of $436 million, down from $606 million last year, impacted by the sale of operations and lower terminal deliveries [20] Market Data and Key Metrics Changes - North America is benefiting from easing rates, steady consumer spending, and resilient labor markets, although growth remains challenging in certain end markets [10] - In Europe, conditions are more challenging with slower activity in cyclical and industrial end markets, but early signs of improvement are noted due to fiscal spending and stabilizing energy prices [11] Company Strategy and Development Direction - The company is close to completing a corporate reorganization to become a single, newly listed corporation, which is expected to improve trading liquidity and attract global investors [5] - The strategy focuses on operational excellence and capitalizing on de-globalization and AI trends to reshape supply chains and enhance business performance [7][8] - The company aims to continue compounding value for shareholders through capital recycling, growth acquisitions, and stock repurchases [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market backdrop, noting that the trading price is 50% higher than a year ago but still at a discount to NAV [8] - The company is well-positioned with capital and capabilities to build value in 2026, with a strong pipeline of new commercial opportunities [9][15] Other Important Information - The company ended the year with approximately $2.6 billion of pro forma liquidity at the corporate level, providing significant flexibility for growth and capital allocation [21] - The company has repurchased approximately $235 million of its units and shares, remaining committed to completing its $250 million buyback program [21] Q&A Session Summary Question: Regarding Clarios' performance and tax credits - Management indicated that Clarios is generating significant free cash flow, and the 45X tax credits will enhance cash for reinvestment, with various options for shareholder returns being considered [23][24] Question: On Scientific Games' earnings trajectory - Management expressed cautious optimism about Scientific Games, noting a strong market position and a robust pipeline, but emphasized that earnings growth may take time to materialize [26][27] Question: On the balance between reducing leverage and pursuing growth - Management stated that growing EBITDA will naturally reduce leverage, and the focus remains on growth while managing debt levels effectively [28][29] Question: Update on CDK operations - Management reported strong renewal activity and a focus on stabilizing churn through technology adoption, with a positive long-term outlook for the business [42][44] Question: On monetization environment and deployment pacing - Management noted a strong environment for monetizations and indicated that 2026 is expected to be an active year for acquisitions, continuing the momentum from 2025 [45][46]

Brookfield Business Partners (NYSE:BBU) Q4 2025 Earnings call January 30, 2026 10:00 AM ET Speaker4Welcome to the Brookfield Business Partners fourth quarter 2025 results conference call and webcast. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, simply press star one one on your touchtone phone. Now, I'd like to turn the conference over to Alan Fleming, Head o ...

Core Viewpoint - The company, China Ecological Tourism (01371), has secured a significant contract for maintenance services of traditional lottery terminals in Guangdong, indicating strong market recognition and positioning within the industry [1] Group 1: Contract Wins - The subsidiary, Guangzhou Lotu Terminal Technology Co., Ltd., has won the bid for the "Guangdong Sports Lottery 2025 Traditional Terminal Maintenance Service Procurement Project," which involves the maintenance of 2,195 traditional lottery terminals [1] - In addition to Guangdong, Lotu Company has also won procurement and maintenance projects for lottery terminals in Jiangsu and Zhejiang provinces in September, November, and December of this year [1] Group 2: Market Position - Guangdong, Jiangsu, and Zhejiang provinces rank first, third, and fourth respectively in national provincial sales of sports lottery from January to October 2025, collectively accounting for 25% of the total national sports lottery sales [1] - The selection of Lotu Company's lottery terminal products and services by these major lottery provinces underscores the company's market acceptance and industry standing [1]

Group 1 - The core point of the article is that China Ecotourism (01371) announced that its subsidiary, Guangzhou Lotu Terminal Technology Co., Ltd. (Lotu), has won a bid for the maintenance service procurement project for traditional terminal machines for Guangdong Sports Lottery, providing maintenance for 2,195 traditional terminal machines [1] - In September, November, and December, Lotu has successively won bids for sports lottery terminal machine procurement and maintenance projects in Jiangsu, Zhejiang, and Guangdong provinces [1] - Guangdong, Jiangsu, and Zhejiang provinces rank first, third, and fourth respectively in the national provincial sales of sports lottery from January to October 2025, with these three provinces accounting for 25% of the total national sports lottery sales [1] Group 2 - The selection of Lotu's lottery terminal machine products and services by major sports lottery provinces indicates the company's market recognition and industry position [1]

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之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內 容而引致之任何損失承擔任何責任。 董事兼首席執行官 朱欣欣 中標多個體彩大省的彩票終端機項目 中國生態旅遊集團有限公司（「本公司」及其附屬公司統稱「本集團」）欣然宣 佈，本集團附屬公司廣州洛圖終端技術有限公司（「洛圖公司」）近日中標《廣 東體彩 2025 年傳統終端機維保服務採購項目》，將為廣東體彩提供 2,195 台傳統 終端機的維保服務。 今年九月、十一月和十二月，洛圖公司陸續中標江蘇、浙江和廣東三個省份的體 彩終端機採購和維保項目。廣東體彩、江蘇體彩、浙江體彩分別位列二零二五年 一至十月全國體育彩票省級銷量的第一、第三和第四名，三省體彩銷量佔全國體 彩總銷量的 25%。幾家體彩大省均選擇洛圖公司的彩票終端機產品和服務，充分 表明了洛圖公司的市場認可度和行業地位。 承董事局命 China Ecotourism Group Limited 中國生態旅遊集團有限公司 ( 於百慕達註冊成立之有限公司 ) 中國生態旅遊集團有限公司 (股份代 ...

Core Viewpoint - The company, China Ecotourism (01371), has signed a contract with the Zhejiang Provincial Sports Lottery Administration for the procurement of additional traditional sales terminals, marking its second procurement project this year [1] Group 1: Contract Details - The contract involves the procurement of approximately 2,500 traditional sales terminals [1] - This follows a previous successful bid in July for a similar project [1] - In March, the company also secured a contract for extended warranty services for the traditional terminals [1]

Financial Data and Key Metrics Changes - Third quarter Adjusted EBITDA was $575 million compared to $844 million in the prior period, reflecting lower ownership in three businesses following the partial sale of Anktrus and including $77 million of tax benefits [15] - Adjusted EFO for the quarter was $284 million, benefiting from lower current tax expense and reduced interest expense due to decreased corporate borrowings [15] Business Line Data and Key Metrics Changes - The industrial segment generated third quarter Adjusted EBITDA of $316 million compared to $500 million in the prior period, with a 17% increase in performance when including tax benefits [16] - The business services segment's Adjusted EBITDA was $188 million compared to $228 million last year, impacted by the sale of a partial interest in dealer software and technology services [17] - The infrastructure services segment generated Adjusted EBITDA of $104 million compared to $146 million during the same quarter last year, reflecting the sale of offshore oil services and a partial interest in work access services [18] Market Data and Key Metrics Changes - The broader global economy has remained resilient, with public markets at record highs and transaction activity increasing due to declining global interest rates [7][8] - The company has seen a significant increase in its consolidated market cap by nearly $1 billion following the announcement of a corporate structure simplification [5] Company Strategy and Development Direction - The company is focused on capital recycling, having generated over $2 billion in proceeds and repaid $1 billion of borrowings, while also investing $525 million in strategic growth acquisitions [4] - Plans to simplify corporate structure aim to improve trading liquidity and increase demand for shares from index investors [5] - The company is leveraging AI to enhance operational capabilities and drive value creation [6][50] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism heading into the fourth quarter, noting strong operational performance and a robust investment environment [7][45] - The company remains focused on organic growth and operational improvements rather than pursuing new concessions in the BRK business [24] Other Important Information - The company has a pro forma liquidity of approximately $2.9 billion at the corporate level, providing flexibility for growth and capital allocation [19] - A buyback program has been launched, allowing for the repurchase of an additional 8 million units and shares [19] Q&A Session Summary Question: Regarding BRK and potential IPO - Management confirmed that an IPO is one option for monetizing BRK, but the capital markets environment in Brazil remains challenging [22] Question: On La Trobe's regulatory issues - Management clarified that the issues are primarily disclosure-related and have not impacted the underlying fundamentals of the business [26] Question: On DexKo's performance outlook - Management indicated that DexKo is performing well, with signs of recovery in market demand, and expressed optimism for the coming year [46]

Core Viewpoint - Tianyin Holdings (000829) reported a revenue of 84.038 billion yuan and a net profit attributable to shareholders of 31.184 million yuan for the fiscal year 2024, emphasizing its commitment to cash dividends as a means of returning value to investors [1] Group 1: Financial Performance - The company achieved a revenue of 84.038 billion yuan and a net profit of 31.184 million yuan for the fiscal year 2024, with earnings per share at 0.03 yuan [1] - Tianyin Holdings plans to distribute a cash dividend of 0.10 yuan for every 10 shares, totaling approximately 10.251 million yuan [1] - The company has consistently paid cash dividends for six consecutive years, amounting to approximately 219 million yuan [1] Group 2: Business Strategy and Operations - The core business of Tianyin Holdings is intelligent terminal sales, which supports its new development strategy of "integrated industry and digital network platform" [2] - In 2024, the company aims to create an integrated digital network platform, providing diverse supply chain services to over 20,000 downstream partners [2] - The company is leveraging its channel and customer resource advantages to enter the new energy vehicle sector and is building a competitive supply chain system centered in Shenzhen [2] Group 3: Technological Innovation - Tianyin Holdings utilizes big data and machine learning through its subsidiary "Nengliang E-commerce" to analyze market data, improving procurement efficiency and reducing costs [2] - The company has implemented AI recommendations to enhance order matching and increase transaction speed and volume [2] - The launch of AI smart systems in customer service has significantly reduced customer wait times [2] Group 4: Lottery Business - The subsidiary Suicai is a leading provider of comprehensive technology services for the lottery industry, focusing on R&D, sales, and service [3] - In 2024, the company won multiple bids for lottery projects across nearly twenty provinces in China and achieved breakthroughs in overseas markets, including Brazil and Mongolia [3] - The WIKO brand under Tianyin Holdings continues to grow in the mobile phone industry through product innovation and market positioning, with plans for global market expansion [3]