LUMINA GROUP (01162.HK): Arbitration Win Terminates Major Transaction for "Ode to Gallantry" Animated Series Joint Venture

NewTimeSpace · 2026/08/28 18:28 · By Zeyu Wu

NewTimeSpace News: On 28 August 2026, LUMINA GROUP (01162.HK) announced that the major transaction for the formation of a joint venture with Fujian Yuanwang Culture Technology for the "Ode to Gallantry" animated series project had been terminated after the Shenzhen Court of International Arbitration ruled in favour of CoolStudio; the award requires Yuanwang to pay RMB 792,500 in compensation and transfers trailer ownership to CoolStudio, with the Company stating there is no material adverse impact.

NewTimeSpace News: On 28 August 2026, Luminagroup Limited (stock code: 01162) announced that the major transaction for the formation of a joint venture between CoolStudio Limited, an indirect non-wholly-owned subsidiary of the Company, and Fujian Yuanwang Culture Technology had been terminated, following an arbitration award by the Shenzhen Court of International Arbitration in favour of CoolStudio.

According to the announcement, pursuant to the announcement dated February 2023 and the circular dated March 2023, CoolStudio and Yuanwang agreed to form a joint venture for the production and distribution of an animated series adapted from the Jin Yong novel "Ode to Gallantry", with a budgeted production cost of RMB 24,000,000. As Yuanwang delayed or failed to perform its obligations under the agreement, CoolStudio filed an arbitration application with the Shenzhen Court of International Arbitration on 28 February 2025. On 25 August 2026, the arbitral tribunal ruled in favour of CoolStudio, determining that the agreement had been terminated, that Yuanwang should pay CoolStudio a total of RMB 792,500 as compensation, and that the ownership of the trailer should vest in CoolStudio.

As a result of the arbitral award, the major transaction constituted by the agreement has been terminated. The Board considers that the termination will not have any material adverse impact on the financial position or operations of the Group.

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LUMINA GROUP 01162.HK Termination of Cooperation