Summary by Futu AI
China Rui Yi (stock code: 136) announced on 7 May 2024 that its controlled structural entity Beijing Rui Yi entered into an equity transfer agreement with the seller to acquire 100% of the shares of the target company Beijing Yai Ai Interentertainment Technology Co., Ltd., for a transaction price of RMB2.59 billion, adjustable to no more than 3.5 billion yuan. UPON COMPLETION OF THE TRANSACTION, THE TARGET COMPANY WILL BECOME AN INDIRECT WHOLLY OWNED SUBSIDIARY OF CONWAY OF CHINA AND WILL CONSOLIDATE ITS FINANCIAL RESULTS, ASSETS AND LIABILITIES INTO THE GROUP'S ACCOUNTS. This transfer of shares is a disclosable transaction, but is exempt from shareholder approval. Upon completion of the transaction, the R&D assets of the target company's core asset, Red Guard OL games, will help optimize resource allocation and reduce costs to improve overall performance. The transaction conditions of the equity transfer agreement remain to be met, and shareholders and potential investors should exercise caution.