Inkeverse Group Limited has agreed to sell its entire 40% holding in Guangzhou Kuaichuang Network Technology Co., Ltd. to Guangzhou 1846 Technology Co., Ltd.—a company wholly owned by Mr. Zhuang Zehong, a substantial shareholder and director of the target—for RMB80.00 million (USD ≈ 11.0 million). The equity transfer agreement was signed on 9 October 2026 after market close.
Key transaction terms • Purchase price: RMB80.00 million, a 6.7% premium to the appraised value of RMB75.00 million. • Payment structure: – Deposit of RMB4.00 million within five working days of signing. – First tranche of RMB40.00 million (net of deposit) within five days of completion. – Two instalments of RMB20.00 million each due by 30 September 2027 and 31 August 2028, secured by an equity pledge over the sold shares and a joint-and-several guarantee from Mr. Zhuang.
Valuation highlights • Independent valuer applied a market (EV/EBITDA) approach using nine global listed peers; median multiple 16.84x. • Adjusted for a 15% discount for lack of marketability and a 20% control premium, the 100% equity value was estimated at RMB188.00 million, implying RMB75.00 million for the 40% stake.
Target performance snapshot • Revenue: RMB1.03 billion (2024) → RMB1.22 billion (2025); H1 2026 revenue RMB0.95 billion, up 88.7% y/y. • Net profit swung from RMB52.80 million in H1 2025 to a RMB6.18 million loss in H1 2026 amid surging production and traffic-acquisition costs. • Total assets: RMB249.20 million; net assets: RMB149.60 million as at 30 June 2026.
Financial impact on Inkeverse • Expected one-off gain: approximately RMB20.20 million, subject to post-completion audit. • The target will be deconsolidated from group accounts upon closing.
Use of proceeds • Net proceeds of about RMB72.80 million will be allocated as follows: – RMB54.60 million for upgrading AI computing infrastructure and developing multimodal AI applications to bolster core and overseas businesses. – RMB18.20 million for general working capital and overseas administrative expenses.
Strategic rationale Management cited intensifying competition, rising content production and traffic-acquisition costs, and tighter regulatory oversight of China’s micro-short-drama sector as drivers for the exit. Divestment is intended to streamline resources toward Inkeverse’s live-streaming and social-networking core and accelerate its AI-driven transformation.
Regulatory treatment The deal qualifies as a “discloseable” and “connected” transaction under Hong Kong Listing Rules (Chapters 14 and 14A). As all percentage ratios are below 25% and independent non-executive directors deem the terms fair, the transaction requires announcement but not shareholder approval. Completion is contingent on customary conditions, including waiver of pre-emption rights by other shareholders and absence of material adverse change.