The Zhitong Finance App learned that on the evening of September 20, Duibar (01753) issued an announcement, and Xiaoliang Holding Limited (Xiaoliang Holding), the controlling shareholder of the company, signed a gift agreement with the employee stock ownership reward platform on September 20, 2026. According to the agreement, Xiaoliang Holding transferred a total of 120,682,000 shares of the company's shares to the employee shareholding platform free of charge, accounting for about 11.21% of the company's total issued share capital (excluding treasury shares) on the announcement date. After the transfer is completed, Xiaoliang Holding will hold a total of 333,870,000 shares of the company, which is equivalent to about 31.01% of the company's total issued share capital. The transfer will not cause any change in the company's controlling shareholders. The above shares are expected to be used for rewards already awarded or to be awarded under the company's employee incentive plan.
According to the information disclosed in the Stock Exchange registration, Duibar announced shortly after listing in 2019, and the founders voluntarily extended the ban on personal shareholding sales to three years. It has been more than seven years since the listing, and the founder has not reduced his holdings under his personal name. The first large-scale equity move seven years after this listing was not a cash out; instead, the existing shares, which account for 11.21% of the total share capital, were used for talent incentives and talent development. According to public statistics, this donation is also a donation to an employee shareholding platform from the founder with the largest share of Hong Kong stocks to date.
Based on the high-growth business strategy driven by AI technology, the employee incentive platform promises that in the future, new incentive plans will mainly be used to motivate talents needed for the development of AI businesses, including AI skit businesses. This grant arrangement reflects the confidence and support of the major shareholders of Duiba Group for the long-term development of the company. It aims to further strengthen the long-term orientation of core talents, thereby helping to achieve the company's medium- to long-term strategic goals.
Controlling shareholders transfer shares free of charge to employee shareholding platforms and strengthen long-term incentives for the core team during the lockdown period
Judging from this arrangement, the controlling shareholder supports the employee shareholding reward platform by transferring existing shares free of charge, rather than implementing incentives through the company issuing additional new shares or using its own funds. Analysts pointed out that this method does not dilute minority shareholders' interests, does not take up the company's cash, and does not affect the company's profits and cash flow. In the context of technology-based enterprises and content-oriented enterprises generally strengthening talent incentives, controlling shareholders use their own shares to support core team building, which not only reflects their confidence in the company's long-term value, but also their recognition of the core team's contributions, which helps optimize the corporate governance structure and strengthen the incentive and restraint mechanism.
Furthermore, all rewards granted under existing and additional future incentive plans must comply with the ownership and lockdown period arrangements of the company's equity incentive management measures. This arrangement helps attract and retain key talent and promotes the sharing of long-term development results between the core team and the company. For the AI business sector, which is in the process of business expansion, a stable and sustainable talent team is an organizational guarantee for continuous innovation and large-scale output. Through this arrangement, the company is expected to further consolidate its talent advantages, enhance team stability and competitiveness, and provide organizational support for subsequent business breakthroughs
Incentives Resources Focus on AI Short Drama Business Talent Capital Support AI-Driven High Growth Strategy
The announcement made it clear that in order to match the high growth strategy driven by AI technology, the employee shareholding platform promised that in the future, new incentive plans will mainly be invested in the core teams required for the development of the AI skit business. This means that the company's equity incentive resources will be further concentrated on the AI skit business, using talent capital as a link to accelerate technical, content, and operational capacity building.
From a strategic perspective, this is not only an incentive arrangement, but also a reflection of the company's determination to transform its strategy. Duibar is currently transforming into an AI-native content platform with AI as the operating system. Its single-person production mode allows one person to independently complete the entire process from script understanding, mirror decomposition, virtual character generation, and scene matching to the output of the finished film; self-developed screenwriter agents increase the efficiency of first-line screenwriters by 5 to 8 times. This system has undergone standardized training and can be replicated in batches by high-quality production teams. In Duaiba's AI-Native system, talent is an important carrier of core competencies and a key factor in driving the continuous iteration of the system. Implementing incentives for core talents helps ensure the stable operation and continuous optimization of this system.
AI short drama, impressive business growth, multi-dimensional verification of AI-driven high growth results
According to public information, since the launch of the AI short drama business in January 2026, the Duiba Group has achieved outstanding results in the industry's “high supply and low explosion” competition: the cumulative increase in native Douyin broadcasts from June to August was 178%, steadily ranked in the top 3 in March and July to August, and became the only leading company to maintain a high growth rate of more than 50% for two consecutive months. Entering September, it continues to rank 2nd in the latest weekly list, and growth momentum continues.
Behind the rapid growth of the business, the company's overall operating performance also achieved simultaneous breakthroughs. According to the 2026 interim financial report released by the company, total revenue for the first half of the year reached 435 million yuan, an increase of 24.34% over the previous year. Among them, the AI skit business contributed 223 million yuan in revenue, accounting for 51.2% of total revenue, and became the core engine driving performance growth. The AI skit business has not only become the company's main revenue force, but has also verified the effectiveness of the implementation of the company's AI-driven high growth strategy.
The results of the list confirm each other, reflecting not only the explosive power of the business, but also the company's determination in strategic transformation. From SaaS businesses to AI skits, from traditional content production to AI-native platforms, transformation has entered a stage where revenue structures and organizational capabilities are being switched simultaneously.
At the level of the secondary market, after the disclosure of the progress of the AI skit business on August 24, the stock price of Duiba emerged from a continuous upward trend. As of the close of trading on September 18, the company's stock price was reported at HK$0.615, up about 3.42 times from before the announcement. The average daily turnover during the period was about HK$10.4635 million, breaking the record high of average daily turnover over the past four years, and has become one of the targets of the recent high level of attention in the Hong Kong stock market.
AI skits are the company's current high growth and key strategic development direction in the future. Tilting incentive resources towards this field helps clarify strategic direction, bind core talents, and promote business breakthroughs. After the completion of this stock donation and the gradual implementation of the follow-up incentive plan, it will help the company to further consolidate its talent base, improve execution efficiency, and provide talent support and institutional guarantees for subsequent business progress.