Summary by Moomoo AI
The Weiyang Group announced on 6 March 2024 that its subsidiary Shanghai Jie Information Technology Co., Ltd., has signed an equity transfer agreement, capital increase agreement and shareholder agreement with Shanghai Blender Information Technology Co., Ltd., and its founding shareholders. Shanghai Jie Seek will acquire an approximate 53.5% stake in Bai Technology by transfer and increase of capital at a transfer price of RMB600 million and an increase of RMB2,500 million. Upon completion of this transaction, Bai Technologies will become a subsidiary of the Microalliance Group. This transaction will be funded by Microgaming Group's internal resources and does not constitute a publicable transaction under Chapter 14 of the Listing Rules or a connected transaction under Chapter 14A. Through this acquisition, the Micro-Alliance Group aims to build a full-chain short series business including IP creativity, film production, blockbuster publishing, user growth, and further expand its AI-enabled business scene to reap the rewards of technological change. Established in 2022, Bish Technology is primarily engaged in film production, production and distribution, and has extensive experience and production capabilities.