Group 1 - The company, Beijing Lianzhong, and the target company Beijing Sanzu Wuz Consulting Co., Ltd. have entered into an investment agreement where the company will subscribe for 51% of the target company's expanded registered capital, amounting to RMB 31.2 million [1] - The target group is primarily engaged in drone research and development, related artificial intelligence technology development and market application, human-computer interaction technology development, certification testing, and comprehensive talent training [1] - Following the completion of the transaction, the company plans to build an esports entertainment venue at the target group's base and further deepen its strategic layout in the AI field by integrating resources from both parties [1] Group 2 - The company aims to reshape its core businesses in leisure gaming, cultural entertainment, and sports competition by focusing on "AI technology-driven, blockchain innovation, and Web 3.0 ecosystem construction" [2] - The company is actively expanding its "IP influence + new retail" incremental business, striving to provide sustainable emotional value and immersive experiences for global users through a new upgraded strategy [2]

Core Viewpoint - Fujian Zitian Media Technology Co., Ltd. (Zitian Technology) is facing severe financial and operational issues, including allegations of financial fraud, lack of communication with regulatory bodies, and a complete absence of its executive team, leading to a risk of delisting from the stock market [2][5][8]. Financial Issues - Zitian Technology reported a significant loss of 1.21 billion yuan in its 2023 annual report, contrasting sharply with a profit of 206 million yuan reported in the first three quarters of the same year [6][11]. - The company has been under scrutiny for its financial practices, including the premature recognition of revenue, which inflated its reported income [11]. Regulatory Challenges - The company has been subject to multiple inquiries and warnings from the Shenzhen Stock Exchange and the Fujian Securities Regulatory Bureau due to discrepancies in its financial reporting and lack of timely responses to regulatory questions [7][8]. - Zitian Technology has failed to appoint an auditing firm or submit a rectification report to the Fujian Securities Regulatory Bureau, which could lead to its stock being delisted if not addressed within the stipulated timeframe [5][9]. Operational Status - The company's official website is currently inaccessible, and its office appears to be abandoned, indicating a severe operational breakdown [4][8]. - The executive team has been largely unresponsive, with reports of them avoiding communication with both investors and regulatory authorities [7][9]. Market Performance - Zitian Technology's stock price plummeted approximately 62.60%, from 22.27 yuan per share to 8.33 yuan per share, between January 2 and March 17, 2025 [13]. - The company was once a popular stock in the A-share market, benefiting from trends in internet marketing and gaming, but has since faced a dramatic decline in investor confidence [4][10]. Shareholder Impact - As of the third quarter of 2024, Zitian Technology had approximately 33,000 shareholders, many of whom are now expressing frustration over their inability to exit their investments due to the company's ongoing suspension from trading [14][15].