三只羊否认借壳上市，关联公司被9.75亿美元收购引猜想

Core Viewpoint - The company, Sanziyang Group, has officially denied rumors regarding its successful backdoor listing, clarifying that it has not engaged in any form of reverse merger, overall listing, or IPO application as of the date of the statement [1][3]. Group 1: Company Clarification - Sanziyang Group and its subsidiaries have not authorized any individuals or organizations to conduct fundraising, original stock sales, or equity transfers under the guise of "listing," and any such activities are considered fraudulent [3]. - The rumors about Sanziyang Group "landing on NASDAQ" and "reverse merging with a US company" are solely related to overseas live streaming business cooperation [3]. Group 2: Background on Rich Sparkle - Rich Sparkle, a company that went public in July 2025, announced plans to acquire Step Distinctive for $975 million, which is a company focused on influencer IP commercialization and e-commerce live streaming [6][8]. - Step Distinctive's major shareholder, Khaby Lame, is a well-known influencer with 360 million followers across platforms, and the acquisition aims to leverage his influence for global commercialization [8][10]. Group 3: Recent Challenges and Market Response - Sanziyang Group's subsidiary faced significant challenges after being fined nearly 70 million yuan for false advertising during a live streaming event, leading to a drastic decline in consumer trust [11]. - Following the acquisition announcement, Rich Sparkle's stock experienced extreme volatility, peaking at $180.64 per share before dropping to $13.06 by February 25, 2026 [12].