Core Viewpoint - Tianji Holdings (01520.HK) has signed a memorandum of cooperation with Huari Entertainment to invest in the latter, aiming to hold a 10% stake in Huari Entertainment, with the final shareholding dependent on the investment amount and valuation confirmation [1] Group 1: Investment Details - The investment will be made through capital increase, with the specific shareholding percentage to be determined based on the final investment amount and the valuation of Huari Entertainment [1] - Huari Entertainment is a Hong Kong-registered company fully owned by Zhang Bo, focusing on the operation of international top sports IPs [1] Group 2: Business Operations - Since 2019, Huari Entertainment has established a strategic partnership with Manchester United Football Club, successfully creating the "Manchester United Dream Theater" in Beijing and Chengdu, which integrates a museum, interactive experiences, retail, and dining [1] - In 2025, Huari Entertainment obtained exclusive authorization for Manchester United's e-commerce business and supply chain in the Chinese market, transitioning from an offline experience operator to an "IP brand value integrator," thus building a comprehensive business ecosystem of "offline experience + online e-commerce + supply chain management" [1] Group 3: Strategic Importance - The board believes that the investment in Huari Entertainment, which holds Manchester United IP-related authorizations, will help the company further expand its sports intelligent new consumption business [1] - This investment is seen as a significant milestone for the company in the new consumption IP field, effectively enhancing its expansion in consumer-level IPs and improving overall competitiveness, with the potential to bring new business growth points and positively impact future development [1]