Core Viewpoint - The company is focusing on improving management and upgrading its existing cinema and gaming businesses while exploring new business models, leading to positive operational results in the first three quarters of 2025 [1] Financial Performance - Management expenses were approximately 57.23 million, a significant decrease of 31.07% compared to the same period last year [1] - Research and development expenses were around 29.49 million, showing a slight decrease from the previous year, but overall research efficiency has improved [1] Business Development - The company has added new gaming products to its pipeline, including "Attack City" mini-program version, "Time Adventurer," and "Fantasy Brigade," which are planned for release by the end of the year and in subsequent years [1] - The company anticipates entering a stable, healthy, and sustainable development phase as existing businesses grow steadily and new initiatives are implemented [1]

Group 1 - The company has identified mini-program games as a key focus area for development, aligning with market trends and its business strategy [1] - The company is making adjustments and technical restructuring for the mini-program version of "Attack City," with plans to enhance its long-tail revenue [1] - "Time Adventurer," a custom-developed mini-program game combining simulation management and SLG card gameplay, is expected to start online testing in Q3 and launch in Q4 [1] Group 2 - "Fantasy Brigade," a mini-program game that integrates idle, RPG, and card gameplay with elements of simulation management and SLG, is set for online testing by the end of the year, with commercialization planned for Q1 2026 [1] - The company is conducting in-depth research on the short drama industry and plans to leverage its IP resources and AIGC tools to explore new creative models that merge cultural content with technology [1] - Collaborations with industry stakeholders are in progress to focus on content innovation, channel expansion, and international dissemination, aiming to produce high-quality works that align with the company's business strengths [1]