China Ruyi (stock code: 136) released a supplementary announcement on May 7, 2024, regarding the disclosure of the required transactions and continuing connected transactions. The announcement elaborated on the equity transfer with Chaoyexingyuan (Xiamen) Technology Co., Ltd., its wholly-owned subsidiary, including the transfer price, financial performance of the target company's Red Alert OL game, and asset net value adjustment mechanism. The initial price for the equity transfer is CNY 0.259 billion, with a maximum price of CNY 0.35 billion, taking into account the target company's business development and future profitability. The unaudited asset net value of the target company at the end of 2023 is approximately CNY 0.344 billion. In addition, the target company's existing transaction agreement with Tencent's affiliates is based...Show More

China Ruyi (stock code: 136) released a supplementary announcement on May 7, 2024, regarding the disclosure of the required transactions and continuing connected transactions. The announcement elaborated on the equity transfer with Chaoyexingyuan (Xiamen) Technology Co., Ltd., its wholly-owned subsidiary, including the transfer price, financial performance of the target company's Red Alert OL game, and asset net value adjustment mechanism. The initial price for the equity transfer is CNY 0.259 billion, with a maximum price of CNY 0.35 billion, taking into account the target company's business development and future profitability. The unaudited asset net value of the target company at the end of 2023 is approximately CNY 0.344 billion. In addition, the target company's existing transaction agreement with Tencent's affiliates is based on a fixed formula for revenue sharing, with an expected annual revenue of no more than CNY 0.3 billion. The board of directors believes that the transaction terms are fair and reasonable, in line with the overall interests of the company and shareholders. The board of directors includes executive directors Mr. Ke Liming and Mr. Zhang Qiang, non-executive director Mr. Yang Ming, and independent non-executive directors Mr. Zhou Chengyan, Mr. Nie Zhixin, Mr. Chen Haiquan, and Professor Shi Zhuomin.