Core Points - ST Huaton's stock will be suspended for one day on November 11, 2025, and will resume trading on November 12, with the stock name changing from "ST Huaton" to "Century Huaton" [1] - The stock's daily price fluctuation limit will increase from 5% to 10% after the removal of other risk warnings [1] Financial Performance - For the first three quarters of the year, the company achieved a revenue of 27.223 billion yuan, representing a year-on-year growth of 75.31% [5][6] - The net profit attributable to shareholders reached 4.357 billion yuan, marking a year-on-year increase of 141.65% [5][6] - The company reported a basic earnings per share of 0.24 yuan, up 166.67% compared to the same period last year [6] Business Segments - ST Huaton focuses on three main business segments: internet gaming, artificial intelligence cloud data, and automotive parts manufacturing [6] - The internet gaming segment is the core business and a significant source of revenue growth [6] Market Position - In the first half of the year, the company ranked second in the "Top 80 Mobile Game Publishers in China H1 2025," surpassing traditional giants like NetEase [7] - The internet gaming business generated 16.433 billion yuan in revenue during the first half, with a year-on-year growth of 93.06%, and mobile game revenue accounted for 88.69% of this total [7] Stock Performance - Since the second half of last year, ST Huaton's stock price has increased significantly, with a maximum rise of over 650% from its low point [4] - The stock is heavily held by several funds, including Yongying Fund and Rongtong Fund, with significant positions in multiple products [4]

Core Viewpoint - ST Huaton (002602) is set to remove its "ST" designation, indicating a recovery from previous financial difficulties, with stock trading restrictions changing from 5% to 10% after the removal of risk warnings [1][3]. Financial Performance - For the first three quarters of the year, the company reported revenue of 27.223 billion yuan, a year-on-year increase of 75.31%, and a net profit attributable to shareholders of 4.357 billion yuan, up 141.65% [5][6]. - The company achieved a basic earnings per share of 0.24 yuan, reflecting a 166.67% increase compared to the same period last year [6]. Business Segments - ST Huaton focuses on three main business segments: internet gaming, artificial intelligence cloud data, and automotive parts manufacturing, with internet gaming being the core segment driving revenue growth [6][7]. - The internet gaming segment generated revenue of 16.433 billion yuan in the first half of the year, marking a 93.06% increase, positioning the company as the second-largest mobile game publisher in China, surpassing traditional giants like NetEase [7]. Stock Market Activity - Since the second half of last year, ST Huaton's stock price has surged over 650% from its low point, indicating strong market interest and investor confidence [4]. - Several funds, including Yongying Fund and Rongtong Fund, have heavily invested in ST Huaton, with some funds holding over 1 billion yuan worth of shares as of the third quarter [4].

Core Viewpoint - Century Huatong Group announced the completion of the second lock-up period for its 2022 employee stock ownership plan, allowing 27 participants to unlock 32.207 million shares, valued at over 635 million yuan, based on the closing price on September 16 [1][2]. Group 1: Employee Stock Ownership Plan - The employee stock ownership plan was approved in September 2022, with the company repurchasing 97.43412 million shares, accounting for 1.31% of the total share capital, to fund the plan [2]. - The plan has a duration of 60 months, with shares being unlocked in phases, and the second unlock period occurring after 36 months [2]. Group 2: Performance Assessment Criteria - The core of the unlock conditions is based on performance assessment, requiring either a revenue growth of at least 20% from 2021 to 2024 or a net profit growth of at least 900% [3][4]. - Century Huatong achieved a revenue of 22.62 billion yuan in 2024, representing a 50.01% increase from 2021, surpassing the 20% threshold [4]. Group 3: Financial Performance - Century Huatong's revenue for 2024 reached 22.62 billion yuan, with a significant year-on-year increase of 70.27%, and net profit rose to 1.213 billion yuan, marking a 131.51% increase [5]. - In the first half of 2025, the company reported a revenue of 17.21 billion yuan, up 85.5%, and net profit increased to 2.656 billion yuan, reflecting a 129.33% growth [5]. Group 4: Business Segment Performance - The gaming segment was a key driver of growth, generating 16.433 billion yuan in revenue, accounting for 95.50% of total revenue, with a gross margin improvement to 72.25% [8]. - Century Huatong ranked second in the "2025 H1 China Mobile Game Publisher Revenue TOP80" list, surpassing traditional giants like NetEase [8]. Group 5: Market Recognition - The company's stock price increased from a low of 2.99 yuan to a high of 20.76 yuan, nearly a sevenfold increase, with a market capitalization exceeding 140 billion yuan, making it the top gaming company in the A-share market [9].