估值超10亿，量子之歌全资收购Letsvan

Core Viewpoint - Quantum Song Group (NASDAQ: QSG) announced the acquisition of the remaining equity of its subsidiary, Shenzhen Yiqi Culture Co., Ltd. (Letsvan), through a cash and stock combination, with a total transaction value of 235 million yuan, corresponding to an estimated valuation of approximately 385 million yuan for Letsvan [1][3]. Group 1: Acquisition Details - Quantum Song will issue a total of 18,219,330 shares of Class A common stock to Letsvan's founder and CEO, Zhan Huiyu, as consideration for the remaining equity [1]. - The acquisition will be completed in three phases, with vesting and lock-up terms attached [3]. - As of March 2025, Quantum Song will hold a 61% stake in Letsvan after multiple rounds of transactions [1]. Group 2: Strategic Integration - Zhan Huiyu will be appointed as a director of Quantum Song on August 1, 2025, to accelerate the integration of the trendy toy business and strategic synergy [3]. - The integration will focus on five key dimensions: IP incubation, product development, influence dissemination, supply chain optimization, and channel network expansion [3]. Group 3: Business Performance and IP Development - Letsvan has successfully incubated and owns 10 IP images as of March 2025, including the newly released IP "SIINONO" [7]. - The WAKUKU series has achieved significant popularity, with products ranking among the top in the cultural and creative sector for the first half of 2025 [5]. - The strategic investment from Quantum Song is expected to elevate Letsvan to new heights in the trendy toy market [5]. Group 4: Industry Context - Recent trends in the industry show a surge in mergers and acquisitions related to IP, with companies like Giant Star Legend and Sony forming strategic alliances and making significant investments [9][12]. - The competitive landscape is evolving, with companies focusing on expanding retail channels and enhancing IP-related offerings [9][12].