Core Viewpoint - The company has agreed to sell its entire equity interest in Toy Kingdom Hong Kong Limited, which holds all of the group's toy retail business, to Glens Hill Limited, indicating a strategic shift away from the toy retail sector [1][2]. Group 1: Sale Agreement - The sale agreement with Glens Hill Limited is set to be completed by September 29, 2025, after which the company will no longer have any interest in the toy retail business [1]. - The decision to sell is part of the company's broader strategy to focus on its core footwear retail and wholesale business, particularly enhancing its online sales channels [2]. Group 2: Financial Impact - The toy retail business has contributed less than 6% to the group's revenue annually from 2020 to 2024, indicating its limited importance to overall financial performance [2]. - The toy retail segment experienced losses in 2021 and 2022, with 2023 and 2024 profits fluctuating around the breakeven point, contributing minimally to the group's profits [2]. - The sale is expected to alleviate the financial burden associated with the group's net liabilities by approximately RMB 6.5 million, thereby improving the overall financial condition of the company [2].

Core Viewpoint - The company, 千百度, has announced the sale of its toy retail business, Toy Kingdom Hong Kong Limited, to Glens Hill Limited, indicating a strategic shift to focus on its core footwear retail and wholesale operations [1] Group 1: Business Performance - The toy retail business has been operating at a loss in 2021 and 2022, with profitability fluctuating around the breakeven point in 2023 and 2024 after accounting for operational expenses [1] - The contribution of the toy retail business to the group's overall profit has been limited [1] Group 2: Strategic Rationale - The decision to sell the toy retail business is influenced by its limited importance to the group's revenue, ongoing losses, and the company's intention to concentrate on its footwear retail and wholesale business, particularly online sales [1] - The sale is expected to alleviate the financial burden related to the net liabilities of the toy retail business by approximately RMB 6.5 million, thereby improving the overall financial condition of the group [1] Group 3: Future Focus - The board believes that the sale will allow the company to focus on its core footwear business, optimizing operational efficiency and supporting long-term strategic goals [1]