香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性 或完整性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分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。 COL Global Co., Ltd. 中文在線集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的 要求而刊發，僅用作提供資料予香港公眾人士。 本 申 請 版 本 為 草 擬 本，其 內 所 載 資 料 並 不 完 整，亦 可 能 會 作 出 重 大 變 動。閣 下 閱 覽 本 文 件，即 代 表 閣下知悉、接納並向中文在線集團股份有限公司（「本公司」）、其獨家保薦人、整體協調人、顧問或包 銷團成員表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據送呈香港公司註冊處處長登 記的本公司招股章程作出投資決定；有關文本將於發售期內向公眾刊發。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的。投資者不應根據本 文件中的資料作出任何投 ...

企业和个人可通过以下方式便捷联系并获取服务： 随着粤港澳大湾区建设的深入推进，南沙区内跨境电商、数字文娱、科技研发等数字经济核心产业蓬勃 发展，企业数据出境的需求日益迫切且复杂。然而，数据出境面临各国不同的法律法规、技术标准与安 全评估要求，流程专业性强、合规门槛高，成为许多企业特别是中小型创新企业"走出去"的痛点与堵 点。 通过设置服务专窗，为企业提供专业化、集成化服务，有效解决企业数据出境面临的流程不清、周期 长、成本高等痛点，进一步优化营商环境，促进数字经济发展和国际合作。 据介绍，该专窗的服务对象覆盖所有存在数据出境需求的各类市场主体，重点服务但不限于跨境电商企 业、数字文娱与内容企业、科技创新与研发机构和初创型与中小微企业。 其功能远超出普通咨询，将配备专业服务人员，为企业解读《数据出境安全评估办法》《个人信息出境 标准合同办法》等法规的核心要求。从前期数据梳理、风险自评估，到申报材料准备、备案提交，乃至 后续的监督管理，专窗提供贯穿数据出境全生命周期的"一条龙"指导。通过专业的预判和辅导，帮助企 业避免常见"坑点"，大幅缩短申报周期，将原本可能耗时数月的摸索过程，压缩为高效、精准的合规行 动。 除 ...

据证券时报报道，腾讯于今日陆续在各大应用商店推出旗下首款漫剧独立App"火龙漫剧"。据悉，该产 品由腾讯视频内部一支年轻团队完成，在启动筹备后，很快就实现上线。据介绍，"火龙漫剧"App融合 漫画分镜、AI技术、动态效果与短视频形态，播放内容当前均为免费，以竖屏信息流为主界面，这种 设计与当下主流的短视频平台相似，单集时长多在1-3分钟之间。 中文在线：多款作品登上抖音动态漫榜单前五，成为AI漫剧赛道的现象级爆款产品。目前，公司AI动 漫业务线已实现对2D与3D多种视觉形态的全面覆盖，公司拟与腾讯就动画微短剧的授权合作相关事宜 达成合作。 捷成股份：自研的AI智能体灵犀将重点应用于漫剧内容的规模化生产，打造自主可控、高品质、高效 率的AI动漫生产平台，助力AI漫剧生产的降本增效提质，已有20余部AI漫剧在制作中。此外，公司是 腾讯的影视版权的重要供应商。 *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 证券时报指出，当下，AI漫剧作为短剧领域中的新兴细分赛道，正展现出巨大的商业潜力，吸引了腾 讯在内的一众互联网平台布局。除了腾讯等大厂外，一些新兴创业公司也在垂类内容上形成了差 ...

Core Viewpoint - Roman Co., Ltd. has achieved a significant stock price increase due to improved financial performance, large orders, and diversified business operations [2]. Group 1: Financial Performance - In the 2025 annual report, Roman Co., Ltd. turned a profit with a net profit attributable to shareholders of 50 to 60 million yuan, a substantial improvement from the previous year's loss, indicating enhanced operational conditions and profitability [2]. Group 2: Order Acquisition - The company has signed a total of 448 million yuan in orders, which include projects related to computing power equipment and the China Merchants project, providing strong support for future revenue growth [2]. Group 3: Business Diversification - Roman Co., Ltd. has established three major business segments: urban lighting, intelligent sources, and digital entertainment, achieving a diversified business layout. Additionally, through the acquisition of Wu Tong High-tech, the company has entered the integrated circuit and artificial intelligence sectors, expanding its business boundaries and creating new profit growth points [2]. Group 4: Market Trends - The landscape lighting and related digital technology sectors have recently shown active performance, with several stocks in the same sector experiencing varying degrees of increase, contributing to the stock price surge of Roman Co., Ltd. [2]. Group 5: Technical Indicators - The MACD indicator for the stock has formed a golden cross recently, indicating a clear upward trend in the short term [2].

Core Viewpoint - The company, Zhao Chi Co., has identified its optical communication business as a third growth curve, with significant advancements in product technology iteration [2] Group 1: Optical Communication Business - The company has achieved stable mass production of low-speed optical modules (200G and below), supported by mature production processes and cost control capabilities, laying a solid foundation for business development [2] - The company is focusing on high-speed optical modules (400G/800G) as a key breakthrough direction, which has successfully entered the sample testing phase with leading domestic customers, and is expected to achieve small batch shipments by the second quarter of 2026 [2] - The company is enhancing supply chain autonomy through vertical integration of "optical chips - optical devices - optical modules" and has initiated the construction of a PCB production line [2] Group 2: Market Expansion and Collaborations - The company has established partnerships with several mainstream domestic customers and is steadily expanding into overseas markets based on existing terminal cooperation [2] - The company's subsidiary, Fengxing Online, has shown strong performance in the AI digital entertainment sector and has formed a deep collaboration with Alibaba Cloud to build a full-link creative ecosystem [2] - The smart terminal business is undergoing a global upgrade strategy, focusing on local supply capabilities [2]

Group 1: Company Overview and Industry Position - The company’s subsidiary, Fengxing Online, is positioned as a digital entertainment creation and distribution platform, leveraging a leading distribution network with over 400,000 influencers on Douyin and Kuaishou, establishing a significant competitive advantage [1][2]. - Fengxing Online has created an end-to-end commercial closed loop, integrating the "creation-distribution-consumption" process, making it one of the few AI application entities capable of achieving commercialization in the market [2]. Group 2: Content Creation and Distribution - The platform has attracted 15,000 creators, achieving over 2,000 daily active users and accumulating more than 10,000 scripts, thus fostering a diverse content supply ecosystem [2]. - Key business areas include short-to-long and long-to-short adaptations, AI comics, and AI novels, with the first two leading the industry. Several works have achieved over 10 million exposures through the distribution network, becoming new growth engines [2]. Group 3: Technological Advancements - The Orange Star Dream Factory utilizes eight intelligent collaborative technologies, allowing for rapid content production, with single episodes of comics taking only minutes from conception to completion, significantly enhancing production efficiency [3]. - The system supports creators by managing IP, audio, and material resources, enabling them to focus on creativity rather than operational complexities [3]. Group 4: Strategic Partnerships - Fengxing Online has established a deep collaboration with Alibaba Cloud, focusing on co-research and ecosystem creation based on AI content creation technologies [4]. Group 5: Optical Communication Business Development - The optical communication business is identified as the third growth curve, focusing on vertical integration of the supply chain, technological upgrades, and global market expansion [5][6]. - The company is enhancing its supply chain control and cost competitiveness through vertical integration of optical chips, devices, and modules, with PCB production line investments initiated in late 2025 [5]. Group 6: Global Market Strategy - The company aims to establish partnerships with mainstream clients in the domestic market while expanding into international markets through product validation and long-term collaborations [6]. - The strategy includes leveraging existing relationships with international clients to enhance competitiveness in the global market [6]. Group 7: Smart Terminal Business Strategy - The smart terminal business is undergoing a global upgrade, focusing on localized supply capabilities to ensure delivery efficiency and adapt to changing trade environments [7][8]. - The company plans to replicate its domestic manufacturing experience and supply chain integration capabilities in overseas bases to improve efficiency and cost-effectiveness [8].

Core Viewpoint - Zhaochi Co., Ltd. has announced a deep cooperation with Alibaba Cloud to develop an AI creative one-stop platform, focusing on technology research and development, intelligent creative engine upgrades, and digital content ecosystem construction [1] Group 1 - Zhaochi Co., Ltd. is a key player in the digital entertainment sector, with its core segment being Fengxing Online [1] - The collaboration with Alibaba Cloud aims to enhance technological capabilities in AI-driven content creation [1] - The partnership will involve significant efforts in upgrading intelligent creative engines and building a robust digital content ecosystem [1]

Group 1 - The core focus of the article is the impressive performance of Tianhe District in the 2025 Internet Enterprise Top 100 list, with 8 companies from Guangzhou, 5 of which are from Tianhe, representing 62.5% of the total [1] - The listed companies span various sectors including AI, digital content, gaming, audio social, and digital trade, showcasing a diverse and robust digital economy ecosystem in Tianhe [1][3] - The report highlights the significance of the "outbound" characteristic of Tianhe's listed companies, particularly Titanium Technology and HuiLiang Technology, which provide comprehensive digital infrastructure for Chinese enterprises going global [3][4] Group 2 - Tianhe District is recognized as a national digital service export base and cultural export base, hosting over 20,000 digital service companies that support the development of the "outbound team" [4] - In the digital entertainment sector, Tianhe's companies demonstrate strong industry concentration and explosive growth, with notable achievements such as KuLu Technology's game winning a prestigious award [5][6] - The revenue of large-scale cultural enterprises in Tianhe exceeded 182.5 billion yuan in the first three quarters of 2025, with the gaming industry revenue reaching 65.35 billion yuan, reflecting a growth rate of 10.1% [6] Group 3 - The explosive growth of these companies is attributed to forward-looking policy support and high-quality services, with recent policies aimed at promoting the high-quality development of cultural industries and digital technology integration [7] - The national top 100 list serves as a mirror reflecting the true nature of Tianhe's digital economy, characterized by a global perspective, creativity, and a mix of established leaders and dynamic newcomers [7]

Core Insights - The current transformation in the digital entertainment industry is exemplified by the rapid production capabilities enabled by AI, such as generating short videos with Cantonese opera elements in minutes and reducing micro-drama production cycles from months to days [1] - The 2025 China Digital Entertainment Conference highlighted that AIGC (Artificial Intelligence Generated Content) should be viewed as a tool for human-machine collaboration rather than a replacement, emphasizing the need for ethical standards to enhance creativity [1] - The digital entertainment market in China is projected to exceed 1.75 trillion yuan in 2024, with the micro-drama market alone surpassing 50 billion yuan [1] Industry Trends - The integration of AI in content production is leading to a shift from professional to mass participation and from virtual to physical experiences within the digital entertainment sector [1] - The opening of the "Star Chronicle World · Nanh Lake Park" in Guangzhou, featuring over a hundred popular storyline tasks, illustrates the growing popularity of RPG-themed attractions [1] - The "Digital Entertainment Trend Carnival" at the conference showcased a blend of AI, animation, gaming, and cultural creative products, indicating a public engagement with these technologies [1][2]

Group 1 - The 2025 China Digital Entertainment Conference was held in Guangzhou, focusing on "New Technology, New Models, New Business Formats" and exploring trends and opportunities in the digital entertainment industry in the AI era [1][3] - The "China Cultural Industry AI Application Development Report" was released, highlighting that AI is fundamentally restructuring production methods and consumer experiences in the entertainment industry, with the market evolving towards a structure dominated by short videos and short dramas, while emphasizing that quality content remains the core competitive advantage [1][3] - In 2024, the Chinese digital entertainment market reached a scale of 1.75 trillion yuan, with short video users accounting for 93.6%, and significant growth in emerging sectors like short dramas and virtual entertainment [3] Group 2 - The "China Cultural Industry Regional Development Index" ranked the top five regions as Beijing Chaoyang, Beijing Haidian, Shenzhen Nanshan, Guangzhou Tianhe, and Shanghai Pudong, with Guangzhou Tianhe district having 1,164 cultural enterprises and achieving a revenue of 226.66 billion yuan, representing 37.5% of the city's total [3] - The China Cultural Entertainment Industry Association emphasized the importance of quality content and the integration of technologies like AIGC and virtual reality into content creation, aiming to foster immersive and interactive new business formats [3] - During the conference, significant projects were signed, including policies to promote high-quality development in cultural industry parks and the gaming e-sports industry in Guangzhou Tianhe district, aimed at fostering deep integration and innovative development of digital technology and the entertainment industry [6]