The PRC announced on 29 November 2023 that it was revising the 2024 and 2025 maximum amounts receivable under the 2023 Game Cooperation Framework Agreement. As the existing ceiling may not be sufficient to meet demand, the Board decided to increase the ceiling from RMB 700 million to 1300 million in 2024 and 2025. The move is designed to respond to an increase in the number of collaboration products and expected revenue growth.The 2023 Game Cooperation Framework Agreement was signed by Beijing Jingxiu and Tencent Computers on February 22, 2023, with a deadline of December 31, 2025. The agreement includes the provision of cooperation and marketing services, the licensing of Beijing Jingxiu on behalf of Tencent as the exclusive agent issuer, and the provision of intellectual property licensing and content updating services. Beijing...Show More

The PRC announced on 29 November 2023 that it was revising the 2024 and 2025 maximum amounts receivable under the 2023 Game Cooperation Framework Agreement. As the existing ceiling may not be sufficient to meet demand, the Board decided to increase the ceiling from RMB 700 million to 1300 million in 2024 and 2025. The move is designed to respond to an increase in the number of collaboration products and expected revenue growth.The 2023 Game Cooperation Framework Agreement was signed by Beijing Jingxiu and Tencent Computers on February 22, 2023, with a deadline of December 31, 2025. The agreement includes the provision of cooperation and marketing services, the licensing of Beijing Jingxiu on behalf of Tencent as the exclusive agent issuer, and the provision of intellectual property licensing and content updating services. Beijing Jingxiu provides marketing and promotion services, leveraging its advantages in the field of film and television to increase the market share of cooperation products.The Extraordinary General Meeting will be held on 18 December 2024 at which independent shareholders will vote on the revised annual cap. The Independent Board of Directors and the Independent Financial Adviser both consider the amendments to be fair and reasonable and in the overall interests of the Company and its shareholders.