LUMINA GROUP (01162): Subsidiary terminates the establishment of a joint venture with Yuan Wang.

LUMINA GROUP (01162) issued an announcement regarding the establishment of a joint venture between its indirect non-wholly-owned subsidiary, Cool Studio, and Yuan Wang. According to the agreement disclosed in the announcement, Cool Studio and Yuan Wang agreed to establish a joint venture to engage in a project for the production and distribution of an animated series adapted from Jin Yong's novel "Xia Ke Xing," with a budgeted production cost of RMB 24 million. Under the agreement, Yuan Wang will raise at least 10% of the production costs from external investors, while the remaining amount will be funded by Cool Studio. Prior to further disclosures regarding the arbitration application filed by Yuan Wang, Cool Studio had, in accordance with the agreement, made total payments or advances of RMB 1.31 million and RMB 1.365 million for the production of the trailer and animated film for "Xia Ke Xing," respectively. Due to Yuan Wang's delay or failure to fulfill its obligations under the agreement, Cool Studio filed an arbitration application with the SHENZHEN INT'L Arbitration Court against Yuan Wang on February 28, 2025, seeking a ruling on matters including (but not limited to) the termination of the agreement, compensation for the losses incurred by Cool Studio (including the aforementioned payments or advances for the project), and the transfer of ownership of the trailer to Cool Studio. On August 25, 2026, the SHENZHEN INT'L Arbitration Court rendered a ruling in favor of Cool Studio, determining that (among other things) the agreement had been terminated; Yuan Wang should pay a total of RMB 792,500 as compensation to Cool Studio; and the ownership of the trailer should belong to Cool Studio. As a result of the ruling made by the SHENZHEN INT'L Arbitration Court, the main transactions constituted by the agreement have been terminated.