Announcement on the Sale of Equity in Subsidiary Beijing Xianlai Entertainment Network Technology Co., Ltd.
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
On August 10, 2026, Kunlun Tech Co., Ltd. (hereinafter referred to as the "Company") at its sixth board of directors meeting, the second meeting reviewed and approved the "Proposal on the Sale of Equity in Subsidiary Beijing Xianlai Entertainment Network Technology Co., Ltd." The Company plans to transfer the equity of Beijing Xianlai Entertainment Network Technology Co., Ltd. (hereinafter referred to as "Xianlai Entertainment") held by its wholly-owned subsidiary Beijing Kunnuo Yingzhan Information Consulting Co., Ltd. (hereinafter referred to as "Kunnuo Yingzhan") to Beijing Xinglan Entertainment Network Technology Co., Ltd. (hereinafter referred to as "Xinglan Entertainment"). The transaction price is RMB 750 million.
The relevant information of this transaction is hereby announced as follows:
I. Transaction Overview
To further focus on core strategic directions, enhance strategic execution efficiency, concentrate more on building core competitive advantages in the AI era, optimize resource allocation, improve operational efficiency and development quality, and promote the continuous improvement of the Company's overall operating quality and long-term development capabilities, the Company plans to transfer the equity of Xianlai Entertainment held by its wholly-owned subsidiary Kunnuo Yingzhan to Xinglan Entertainment for a consideration of RMB 750 million. Upon completion of this transaction, the Company will no longer hold equity in Xianlai Entertainment, and Xianlai Entertainment will no longer be included in the Company's consolidated statements.
According to the "Company Law," the "Listing Rules of the Shenzhen Stock Exchange ChiNext Market," and other relevant laws and regulations and the "Articles of Association," this transaction can be implemented after being reviewed and approved by the Board of Directors and does not need to be submitted to the Company's shareholders' meeting for review. This transaction does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies" and does not require approval from relevant authorities.
II. Basic Information of the Transferee
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Company Name: Beijing Xinglan Entertainment Network Technology Co., Ltd.
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Enterprise Type: Limited Liability Company (Sole Proprietorship by Natural Person)
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Registered Address: Room 313-93, 3rd Floor, Building 2, Unit 3, No. 1 Qinglong Hutong, Dongcheng District, Beijing
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Establishment Date: April 14, 2026