Little Yellow Duck Deying (02250) plans to establish a joint venture with Nangang Xingbo to jointly develop IP-based entertainment and retail projects

Zhitong Finance App News, Little Yellow Ya Deying (02250) announced that on July 2, 2025, Deying Cultural Tourism (an indirect wholly-owned subsidiary of the company) (i) signed a cooperative framework agreement with Nangang Xingbo and the company to lay the foundation for the establishment of a joint venture; (ii) signed a joint venture agreement with Nangang Xingbo to jointly establish a joint venture, of which Deying Cultural Tourism invested RMB 22.5 million in cash (accounting for 60% of the total registered capital of the joint venture) and Nangang Xingbo (or its designated affiliate) invested RMB 1,500 in cash Ten thousand yuan (share 40% of the total registered capital of the joint venture); and (iii) Entered into a joint venture supplementary agreement with Nangang Xingbo and the company to grant Nangang Xingbo (or its designated related party) the right to sell.

According to the cooperation framework agreement, Deying Cultural Tourism, Nangang Xingbo and the company agreed that Deying Cultural Tourism and Nangang Xingbo will jointly establish a joint venture in Binhu District, Wuxi City, China. The joint venture will mainly rely on Little Yellow Duck IP to engage in business such as IP cultural tourism parks, cultural tourism project development, and IP derivatives retail.

The announcement stated that by combining the Group's creative IP assets with the investment sectors, property assets and operating expertise of Nangang Xingbo and Fosun International, the two sides can jointly develop IP-based entertainment and retail projects, including small and medium-sized outdoor amusement parks, IP-peripheral product stores, indoor entertainment centers, and urban park upgrades. This cooperation will not only help the two sides enter China's rapidly growing experiential entertainment market, but also achieve risk sharing and diversification of benefits. Through this cooperation, the two sides intend to create new business opportunities, enhance brand value, and establish a scalable offline IP monetization model.