US Stock Market Move | Quantasing Group Ltd. ADR (QSG.US) rose more than 6%, planning to acquire all remaining equity of Letsvan.

On Monday, Quantasing Group Ltd. ADR (QSG.US) rose more than 6%, closing at $8.49. In terms of news, on July 31, Quantasing Group Ltd. ADR announced that it will acquire the remaining shares of its subsidiary, Shenzhen Letsvan Cultural Co., Ltd. ("Letsvan"), through a combination of cash and stock, marking the deepening of collaboration between the two parties in the trendsetting business. According to the announcement, in order to promote integration, Quantasing Group Ltd. ADR will issue a total of approximately 18.2193 million shares of Class A common stock to Letsvan's founder, CEO, and director, Zhan Huiyu, through private placement, as consideration for the remaining shares he holds. The related shares will be delivered in three phases, with accompanying vesting and lock-up provisions. Additionally, to accelerate the integration of the trendsetting business and strategic collaboration, Quantasing Group Ltd. ADR will appoint Zhan Huiyu as a director of the company on August 1, 2025.