Friendtimes (06820) announced that the board of directors has noticed the recent unusual fluctuations in the trading price and volume of the company's shares. After conducting all reasonable queries, the board of directors is not aware of any reasons that led to recent fluctuations in the price and trading volume of shares or any material information that must be disclosed to avoid false market of the company's securities or any insider information that must be disclosed in accordance with Chapter 571 of the Hong Kong Securities and Futures Ordinance Part XIVA.
The company confirms that the group's business operations are normal, and the recent flow performance of various block orders games products is stable, and new products are being developed in an orderly manner. Among them: (1) The free martial arts mobile game 'Mojian Jianghu' will be launched on July 19, 2024; (2) The casual competitive mobile game 'Baochao Mengchu' has obtained the latest batch of test numbers and is expected to start a new round of testing in this quarter; (3) In July 2024, the 'Fusheng' series IP mobile games 'Fusheng Weiqingge' and 'Fusheng Yilinglong' and the two explosive film and television dramas 'Changxiangsi' and 'Changyue Jinming' cross-border linkage will be officially launched; (4) In terms of mini-games: 'Lingyunuo' performed well and entered the Top 50 best-selling list of WeChat mini games; multiple mini-games such as 'Dulala Promotion Record' and 'Code: Cute Pet' are being reserved.
In addition, in accordance with the share award plan adopted by the company on September 14, 2020 and the trust arrangement entered into with a trust institution (trustee), the company can instruct the trustee to directly or indirectly purchase company shares in the market. From August 28, 2023 to July 12, 2024, the trustee cumulatively purchased shares in accordance with the share award plan, which have exceeded 3.1% of the total share capital of the company.
In summary, the board of directors and management team are confident in the company's long-term prospects.