YH Entertainment Group (YH ENT) announced that its wholly owned subsidiary, Tianjin Yihua Management Consulting, has signed a Share Transfer Agreement to purchase the remaining 46.55% equity interest in Yuhua Tongxing (Beijing) Cultural Development for RMB4.00 million in cash. The seller is Shenzhen Yiqi, an indirectly wholly owned unit of U.S.-listed Here Group Ltd.

Upon completion, Tianjin Yihua’s stake in Yuhua Tongxing will rise from 53.45% to 100%, converting the entity—established in December 2024 and focused on cultural event organization and pop-toy development—into an indirectly wholly owned subsidiary of YH ENT. Yuhua Tongxing posted an unaudited net asset value of RMB5.60 million as at 31 August 2026, alongside an unaudited RMB6.50 million profit before tax and RMB4.50 million net profit for FY 2025.

Concurrently, Tianjin Yihua, Shenzhen Yiqi and Yuhua Tongxing executed a termination agreement that ends their prior Strategic Cooperation Framework Agreement. No termination payment is required; each party will complete outstanding orders and transitional matters under existing clauses.

Management cited full operational control, faster decision-making and enhanced synergies with YH ENT’s artist management and IP commercialisation segments as key benefits of the buyout. Following completion, Shenzhen Yiqi will cease to be a connected person at the subsidiary level, simplifying future related-party compliance.

Regulatory context: Because Shenzhen Yiqi is a connected person at the subsidiary level and the highest applicable percentage ratio of the acquisition is below 1%, the transaction is fully exempt from shareholder approval and further reporting under Hong Kong Listing Rules 14A.76(1)(b) and 14A.101. The termination of the connected transactions is also exempt, though its cessation requires this announcement under Rule 14A.35.

The RMB4.00 million consideration will be funded through internal resources, with payment due on or before completion.