On December 26, 2023, Beijing Yuanlong Yato Culture Dissemination Co.,Ltd. closed the transaction. The company issued 36,036,036 A shares at an issue price of CNY 16.65 per share for the gross proceeds of CNY 599,999,999.40 and net proceeds is CNY 599,999,999.40. The transaction included participation from new investors UBS AG 1,621,621 shares for CNY 26,999,989.65, Guo Weisong 1,501,501 shares for CNY 24,999,991.65, Qingdao Huixin Investment Partnership Enterprise (Limited Partnership) 1,501,501 shares for CNY 24,999,991.65, China Asset Management Co.

Ltd. 2,462,462 shares for CNY 40,999,992.30, Shanghai Sports Industry Private Equity Investment Fund Partnership Enterprise (Limited Partnership) 3,603,603 shares for CNY 59,999,989.95, Nuode Asset Management Co., Ltd. 11,891,891 shares for CNY 197,999,985.15, AEGON-Industrial Fund Management Co. Ltd. 2,762,762 shares for CNY 45,999,987.30, Caitong Fund Management Co., Ltd. 7,987,987 shares for CNY 132,999,983.55, Huatai Asset Management Co., Ltd.-Huatai Youyi stock-specific pension products 1,501,501 shares for CNY 24,999,991.65 and Taikang Asset Management Co., Ltd. Taikang Asset Juxin stock special pension product 1,201,207 shares for CNY 20,000,096.55. The company has disclosed the issue expenses of Sponsored underwriting fees CNY 6,792,452.82, attorney fees CNY 707,547.17, Accountant fees CNY 518,867.92 and Issuance registration fees and other fees CNY 501,920.78; aggregate gross proceeds of CNY 8,520,788.69.