Changes in Hong Kong stocks | Zupan (09890) rose more than 15%, and the company successfully issued convertible bonds to increase AI+ games and WeChat mini games launched incentive policies

The Zhitong Finance App learned that Zeppan (09890) has increased by more than 15%, and the cumulative increase since December 8 has exceeded 65%. As of press release, it rose 7.65% to HK$19.98, with a turnover of HK$76.69,900.

According to the news, on December 18, Zoufan successfully issued HK$468 million zero-interest convertible bonds. The funds will be earmarked for investment in the AI industry and deepening technology, further consolidating its leading position in the “AI+ Gaming” strategy. Fun continues to promote the deep integration of “AI+ Gaming”, deeply empowers the game distribution business with AI technology, and maximizes the value of game products through the two core competitive advantages of accurate marketing and long-term operation. Through the self-developed “River Map System”, “Luoshu System” and “X Smart Marketing Platform AI Big Model”, we have achieved intelligent upgrades from material generation and delivery optimization to operation and maintenance management.

It is worth noting that recently, WeChat Mini Games announced that in order to continue to encourage developers to create high-quality content, WeChat Mini Games will officially upgrade the IAP (In-App Purchase) game incentive policy on January 1, 2026. According to reports, since the launch of its “Dragon Trail City” applet version, Zengyu has continued to lead the segmented circuit, inheriting and innovating legendary classic gameplay, and has been in the top ten WeChat game bestsellers several times. In July 2025, it also reached the top of the list, making it the first legendary game to win the championship on this list in nearly a year.