Performance Overview - In Q1-Q3 2025, the company achieved revenue of 742 million, a year-on-year decline of 1.33% [1] - The net profit attributable to shareholders was 66.88 million, down 3.91% year-on-year [1] - The net profit excluding non-recurring items was 67.87 million, a decrease of 1.29% year-on-year [1] - In Q3 2025, revenue was 261 million, down 10.02% year-on-year and 11.83% quarter-on-quarter [1] - The net profit attributable to shareholders in Q3 was 31.90 million, a year-on-year decline of 5.05% but a quarter-on-quarter increase of 35.47% [1] - The net profit excluding non-recurring items in Q3 was 32.50 million, up 0.82% year-on-year and 34.23% quarter-on-quarter [1] New Product Launches - In September 2025, the company launched two new gaming machines: the "Great White Shark" and the "Oriental" mechanical puzzle machine [1] - The "Great White Shark" features a patented hand-crank launch mechanism and has gained popularity since its release [1] - The "Oriental" machine offers a fast-paced, high-stimulation one-button operation and has become a new attraction for all age groups [1] - The company has strengthened its product layout for overseas markets, leading to increased sales and procurement from international clients [1] New IP Development - In October 2025, the company announced the launch of a new IP operation brand "warawara" and completed strategic acquisitions of popular original IPs [2] - The IP matrix under "warawara" includes "GYA BEAR" and "GEEESE!", which resonate with the younger demographic [2] - The company continues to operate classic IP products, leveraging new technologies and gameplay to revitalize these IPs [2] Innovative Game Development - The company has developed a new card game IP "Three Kingdoms Fantasy Battle," exploring an innovative model combining arcade equipment and TCG cards [3] - The game features a 65-inch 4K screen for enhanced visual experience and collectible laser-crafted cards [3] - It offers multiple gameplay options, allowing players to engage in strategy battles on the machine or collect and battle with cards independently [3] - This model integrates online and offline experiences, creating a new business model for TCG sales outside of amusement parks [3] Profit Forecast - The company is expected to achieve revenues of 1.1 billion, 1.165 billion, and 1.24 billion from 2025 to 2027, with year-on-year growth rates of 8.1%, 5.9%, and 6.4% respectively [4] - The net profit attributable to shareholders is projected to be 92 million, 103 million, and 116 million for the same period, with growth rates of 8.5%, 12.4%, and 12.0% respectively [4] - Corresponding PE ratios are forecasted to be 45, 40, and 36 [4]

Core Insights - "Jaws" is celebrated as a pivotal film in cinema history, marking its 50th anniversary with various commemorative events in the U.S. [1] - The film's success transformed it from a low-budget production into a summer blockbuster, influencing the future of Hollywood films [2][3] Group 1: Film Production and Impact - "Jaws" premiered on June 20, 1975, with a production cost of $9 million and grossed $470 million globally, establishing a new standard for summer blockbusters [1] - The film's release strategy involved a large-scale distribution, breaking the traditional gradual rollout model by debuting in 409 theaters simultaneously [2] - Despite initial production challenges, including equipment failures and budget overruns, "Jaws" became a timeless classic and is credited with inventing the modern summer blockbuster concept [2][3] Group 2: Cultural and Marketing Influence - "Jaws" was the first North American film to surpass $100 million at the box office and won multiple Academy Awards, showcasing its cultural significance [3] - The film's marketing strategy included synchronized promotion of merchandise with the film's release, laying the groundwork for modern IP development [4] - The influence of "Jaws" extends beyond its immediate success, impacting the filmmaking techniques and marketing strategies of subsequent films like "Jurassic Park" and "Alien" [4]