TANWAN (09890) surged over 15% again, bringing its cumulative gain since December 8 to more than 65%. At the time of writing, the stock was up 7.65%, trading at HK$19.98, with a turnover of HK$76.0699 million.
On the news front, on December 18, TANWAN successfully issued HK$468 million in zero-coupon convertible bonds. The proceeds will be specifically allocated for AI industry investments and technological advancement, further solidifying its leading position in the "AI + gaming" strategy.
TANWAN is continuously advancing the deep integration of "AI + gaming," leveraging AI technology to profoundly empower its game publishing business. By capitalizing on its two core competitive advantages—precision marketing and long-cycle operations—it drives the maximization of value for its game products.
Through its self-developed "Hetu System," "Luoshu System," and the "X Smart Marketing Platform AI Large Model," TANWAN has achieved intelligent upgrades spanning from material generation and投放 optimization to operational management.
Notably, WeChat Mini Games recently announced that, to continuously encourage developers to create high-quality content, it will officially upgrade its IAP (In-App Purchase) mini game incentive policy effective January 1, 2026.
It is reported that since its launch, the mini-program version of TANWAN's "Dragon Trace City" has consistently led its niche segment. It inherits and innovates upon classic legendary gameplay, repeatedly ranking among the top ten on the WeChat Mini Games best-seller chart. In July 2025, it even claimed the top spot, becoming the first legendary-themed mini-game in nearly a year to achieve the number one position on that chart.
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