Core Viewpoint - The company "San Zhi Yang" has denied rumors regarding a reverse merger or IPO, stating that it has not authorized any fundraising or stock transfer activities related to an IPO, and any such claims are fraudulent [1][6]. Group 1: Company Developments - "San Zhi Yang" is responding to rumors of a reverse merger with a U.S. listed company, clarifying that it has not engaged in any form of reverse listing or IPO application [1][3]. - The company is currently facing operational challenges in the domestic market due to a suspension of its accounts on Douyin, affecting over 2,000 affiliated streamers [6]. - Despite domestic setbacks, "San Zhi Yang" has successfully expanded its overseas business, achieving record sales during a live-streaming event in Singapore [6][7]. Group 2: Acquisition Details - Rich Sparkle, a U.S. listed company, has announced plans to acquire Step Distinctive for $975 million, with the deal involving the issuance of 75 million shares of Rich Sparkle common stock [4]. - The acquisition includes a partnership with "Wu Yu Ge" and the involvement of "San Zhi Yang" through its subsidiary, Anhui Xiao Hei Yang Network Technology Co., which holds a 13% stake in Step Distinctive [4][5]. - Following the acquisition, Anhui Xiao Hei Yang will gain exclusive operational rights for "Wu Yu Ge" globally, covering various aspects of e-commerce and live streaming [5].

Core Viewpoint - Rich Sparkle, a US-listed company, announced the acquisition of Step Distinctive, which operates in the e-commerce live streaming sector, with notable influencer Khaby Lame holding a 49% stake in the target company [1][4]. Group 1: Acquisition Details - The acquisition is valued at approximately $975 million (around 6.77 billion RMB) and will continue to be led by Khaby Lame post-transaction [4][8]. - Anhui Xiaohaiyang Network Technology Co., Ltd., which holds a 13% stake in Step Distinctive, will become a strategic shareholder and core operational partner following the acquisition [1][8]. Group 2: Market Potential - Following the acquisition, Anhui Xiaohaiyang will have exclusive global operational rights for Khaby Lame's brand, covering various aspects such as live streaming, short video e-commerce planning, TikTok store operations, cross-border supply chain coordination, after-sales service, and AI digital human commercial development [8]. - Rich Sparkle anticipates achieving over $4 billion (approximately 27.76 billion RMB) in annual sales, leveraging a combined fan base of nearly 800 million across platforms [8]. Group 3: Background Information - Khaby Lame, known for his silent reaction videos, has over 160 million followers on TikTok, making him the platform's most followed creator [6]. - The company "Three Sheep," associated with Anhui Xiaohaiyang, resumed broadcasting on Douyin in January 2024, with sales during a live session ranging from 100,000 to 250,000 RMB, selling between 2,500 to 5,000 items [8].