Recently, Xingjing Weiwu Group announced that it has signed a definitive acquisition agreement with Wuhan Yingfu Network Technology Co., Ltd. (hereinafter referred to as "Yingfu"), which will further expand the group's digital entertainment ecosystem and enrich revenue sources.
According to the agreement, Xingjing Weiwu Group will acquire a 61% stake in ZSZQ Limited, the parent company of Yingfu, by issuing new shares. The agreement was signed by the beneficial owners of ZSZQ Limited. Xingjing Weiwu Group plans to acquire an additional 13% of the shares of Yingfu's parent company in each of 2025, 2026 and 2027, and issue a corresponding number of shares of the Company to the beneficial beneficiaries in accordance with the provisions of the share exchange agreement, subject to certain closing conditions. The transaction is expected to close in 2027, subject to customary closing conditions.
Founded in 2019, Yingfu is a talent brokerage agency focusing on the creation of short video content and the incubation and operation of talent accounts. With its strong ability to create original content, Yingfu has built the production of short videos with "campus themes" into its core competitiveness. As of August 31, 2024, Yingfu has more than 115 million followers on China's omni-media platforms, with more than 100 signed influencers, and has a strong fan appeal on social media platforms such as Douyin, Kuaishou and Xiaohongshu.
He Youjun, Chairman and Co-CEO of Xingjing Weiwu Group, said: "In recent years, Xingjing Weiwu Group has built a vibrant digital entertainment ecosystem based on its esports and entertainment business. While exploring the deal, we found that Yingfu and Xingjing Weiwu Group have a lot in common in terms of business model and company culture. We welcome Yingfu to join us and look forward to further enhancing the market presence of our digital sports talent brokerage business, helping us achieve more diverse user coverage and revenue streams." ”
Shengjie Huang, Founder and CEO of Yingfu, said, "We are very excited to be a part of the digital entertainment ecosystem of Xingjing Weiwu Group. It is believed that with the huge traffic and resource support of Xingjing Weiwu Group, Yingying will be able to create more engaging new content and products for users in the future. ”
Xingjing Weiwu Group is a global comprehensive digital sports group with e-sports club business as the core, and diversified businesses such as event activities and digital sports talent brokerage developing in parallel. In 2020, two domestic e-sports clubs, Wuhan Xingjing and Shenzhen Weiwu, merged to form Wuhan Xingjing Weiwu Cultural and Sports Development Co., Ltd., headquartered in Optics Valley, with more than 100 professional players, and was one of the leading e-sports clubs in China at that time.
In July 2024, Xingjing Weiwu Group landed on the United States NASDAQ Stock Exchange, opening a new window of opportunities for the group's global development, and the birth of "China's first e-sports stock" also established a model for the sustainable development of Chinese e-sports enterprises.
Players Luo Siyuan (Huahai) and Sun Linwei (Tanran), players of the eStar E-sports Club under Xingjing Weiwu Group, partnered with their teammates of the Chinese team and won the gold medal in the Asian Games
Relying on the unique "e-sports +" business model, Xingjing Weiwu Group has established a business layout based on the e-sports club business, with parallel development of diversified businesses such as events and digital sports talent brokerage, and further explores opportunities in the fields of e-sports education and training, community marketing, e-sports hotels, game publishing and IP licensing, and is committed to creating an e-sports business ecology covering all online and offline scenarios.
Recently, Forbes China released a series of lists of "Transnational Operations of Chinese Enterprises", and Xingjing Weiwu Group was selected as one of the "Top 10 Global Growth Companies".