LUMINA GROUP (01162) has announced the resolution of matters concerning the joint venture established by its indirect non-wholly owned subsidiary, Cool Studio, with Yuan Wang. Under the original agreement, Cool Studio and Yuan Wang had consented to form a joint venture dedicated to producing and distributing an animated series adapted from Jin Yong's novel "The Chivalrous Hero", with a budgeted production cost of RMB 24 million. As per the terms, Yuan Wang was responsible for securing at least 10% of the production costs from external investors, with Cool Studio funding the remainder.

Prior to the arbitration application filed against Yuan Wang, Cool Studio had already paid or prepaid RMB 1.31 million and RMB 1.365 million, respectively, for the production of the promotional trailer and animated episodes of the project under the agreement. Due to Yuan Wang's delays and failures to fulfill its obligations, Cool Studio initiated arbitration proceedings against Yuan Wang at the Shenzhen Court of International Arbitration on February 28, 2025. The claims sought termination of the agreement, compensation for losses incurred by Cool Studio, including the aforementioned payments or prepayments, and the transfer of ownership of the promotional trailer to Cool Studio.

On August 25, 2026, the Shenzhen Court of International Arbitration ruled in favor of Cool Studio, determining that the agreement was terminated, ordering Yuan Wang to pay RMB 792,500 in compensation to Cool Studio, and confirming that ownership of the promotional trailer now belongs to Cool Studio. As a result of this ruling, the primary transactions, which were constituted under the agreement, have been formally concluded.