I. Overview of the Company and Its Joint Investment with Controlled Enterprises
(1) Basic Situation
Recently, Guangdong Xiaomai Technology Co., Ltd. (hereinafter referred to as "the Company") received approval from Jiangxi Yuyuan Culture Co., Ltd. (hereinafter referred to as "Yuyuan Culture") to establish a joint venture with Shanghai Rongguang Investment Co., Ltd. (hereinafter referred to as "Rongguang"). The Company holds 51.22% of shares in Yuyuan Culture, while Rongguang holds 48.78% of shares. Mr. Liu Weijie holds 60% of shares in Rongguang, and Mr. Liu Weijie is the actual controller of the Company.
In September 2025, the Company plans to increase its investment by 1,050 million yuan in Yuyuan Culture, maintaining a shareholding of 51.22%. Yuyuan Culture is expected to enter the market in September 2025. The other general partner, Shanghai Rongguang Investment Co., Ltd. (hereinafter referred to as "Rongguang"), holds 48.78% of shares. Meanwhile, Mr. Liu Weijie will maintain a 60% stake in Rongguang.
In December 2025, based on the impact of the business strategy, the Company and Rongguang established a joint venture in Shanghai, registered the investment, and ensured that the share structure remains consistent, converting 100% of shares to the name of Shanghai Rongguang.
The Company’s actual controller will change to Mr. Liu Weijie, based on the relevant regulations of the stock market, confirming the relationship between the Company and its actual controller.