自2025年8月29日宣布总额不低于6亿港元的股东回报计划以来，连同拟派的末期股息在内，我们已通过 派息及股份回购的方式兑现了该股东回报计划的承诺。2025年游戏及应用服务业务的经营性分类溢利保 持稳健，达8.97亿元。截至2025年12月，我们的净现金及流动性投资储备保持充裕，合计达20亿元。基 于对公司长期可持续发展的信心，我们承诺于未来十二个月内继续透过派息及股份回购方式，向本公司 股东提供不低于6亿港元的分派总额。 在教育AIGC领域，公司凭藉AI生产中心在产品创新、内容创作与AI融合等方面取得多项突破性进展， 打造了以"游戏化学习"为核心的数字化教育生态，为规模化、智能化、沉浸式学习体验奠定了坚实基 础。美国上市的子公司 Mynd.ai 全年分类经营开支同比减少21.1%，2025年第四季度经调整EBITDA亏 损环比收窄 61.8%。在游戏AIGC领域，公司正积极预研AI原生游戏，布局全新的品类赛道，探索以AI 为核心运行逻辑的下一代游戏。我们的旗舰IP保持了稳健的盈利能力，游戏及应用服务业务的经营性分 类利润率达27.4%，同比提高3.9个百分点，利润规模保持稳定。在AI+战略投资领域，公司聚焦 ...

Group 1 - The Hang Seng Technology Index has experienced significant performance declines due to fierce competition among three major e-commerce and local lifestyle giants in the food delivery market, leading to substantial subsidies that have impacted earnings [1] - Despite the overall downturn in the tech sector, NetDragon (00777) stands out by focusing on shareholder returns, having successfully executed a shareholder return plan of up to $300 million over three years, which has provided investors with relative gains of nearly 50% compared to the Hang Seng Index during the same period [1][2] - NetDragon's stock price increased from approximately HKD 14.1 to HKD 15.7 from August 2021 to August 2024, effectively mitigating losses from the broader market downturn, which saw the Hang Seng Index drop by 36% [1] Group 2 - In its mid-year performance announcement for 2025, NetDragon maintained a high interim dividend of HKD 0.5 and proposed a shareholder return plan of no less than HKD 600 million for the next 12 months, which is expected to boost market confidence [2] - The core profit from NetDragon's main business segment, gaming and application services, rebounded to over RMB 500 million, supported by a strong cash position as of June 2025, providing a solid foundation for future shareholder returns [2] - NetDragon's strategic investments in cutting-edge technologies such as AI, XR, robotics, and blockchain have yielded positive returns, including a threefold increase in valuation from its cornerstone investment in the IPO of Giant Star Legend (06683) [2] Group 3 - NetDragon's annualized dividend per share is currently HKD 1, resulting in a dividend yield of 9%, excluding share buybacks [3] - The proposed shareholder return plan of at least HKD 600 million translates to a total shareholder return rate of 10% based on NetDragon's market capitalization of HKD 6 billion, appealing to long-term value-oriented investors [3]