Guangdong Qunxing Toys(002575.SZ) plans to acquire no less than 51% of the equity of Tian kuan Technology.

Guangdong Qunxing Toys Joint-stock (002575.SZ) announced that on February 25, 2025, it signed a "equity acquisition framework agreement" with Zhejiang Songmeng Information Technology Co., Ltd., Hangzhou Chengkuan Investment Management Partnership (Limited Partnership), Lu Xiaofei, Xu Hong, and Lu Ruilin, the shareholders of Hangzhou Tiankuan Technology Co., Ltd. (referred to as "Tiankuan Technology" or "Target Company"). The company plans to acquire at least 51% of the equity held by the above-mentioned shareholders in a cash transaction. After the transaction is completed, Tiankuan Technology will become a controlling subsidiary of the listed company. The estimated value of 100% equity of the target company does not exceed RMB 800 million. The final valuation will be determined by the parties to the transaction based on due diligence, audits, and asset evaluation results in the formal acquisition agreement. The main businesses of the target company include: 1. Construction and operation of artificial intelligence computing centers, which mainly include computing base construction, cluster scheduling, model training, model migration, model acceleration and tuning, operator development, and full-stack services for algorithms/applications/design. 2. Providing digital transformation services solutions for industry customers, including consulting and planning, solution design, construction and maintenance, operation, adaptation development, etc. 3. In the field of intelligent security, providing customers with digital and intelligent products based on the needs of customer data application and security management, including mobile operation safety terminals, mobile operation peripherals, and IoT security products. In 2024, the revenue of the target company in the fields of computing center construction and operation, digital services, and intelligent security accounted for approximately 58%, 27%, and 15% respectively.