CHINA RUYI (00136.HK) acquired a 30% stake in the parent company of QQ Dance, Beijing Yonghang Technology, from Tencent (00700.HK). CHINA RUYI opened flat today (14th) but fell, hitting a low of 2.38 yuan. It is currently reported at 2.39 yuan, down 4.4%, with a turnover of 25.878 million shares, involving a capital of 64.0836 million yuan.
This time, CHINA RUYI acquired 30% equity of Peking Yonghang Technology for a total price of 0.83 billion yuan. The core Assets of the latter include games such as 'QQ Dance', 'QQ Dance 2', and 'QQ Dance Mobile'. CHINA RUYI stated that it hopes to gain more attractive IP and Gaming through investment and business development, building a diversified product matrix; it believes Yonghang Technology has performed excellently in the past, successfully creating the national classic IP QQ Dance, which has accumulated hundreds of millions of registered users.
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