STARPLUS LEGEND, known as the "Jay Chou concept stock," has been making frequent strategic moves recently.

The company announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary, Star Creative Arts (Kunshan) Entertainment Co., Ltd., recently entered into an equity acquisition agreement with Beijing Jinzhou Sunshine Consulting Co., Ltd. and Deloitte Touche Tohmatsu Beijing Branch. Under this agreement, Star Creative Arts conditionally agreed to acquire approximately 1.17% equity in National Stadium Company Limited from the transferor, corresponding to approximately RMB 24.3 million in paid-in registered capital of the target company.

On September 13, at the launch ceremony of the 36th Shanghai Tourism Festival Parade, Shanghai Star Creative IP Culture & Creative Co., Ltd., a wholly-owned subsidiary of STARPLUS LEGEND, unveiled the "Jay Student" themed float featuring celebrity IP, aimed at precisely reaching young demographics through image debuts and themed interactions. Meanwhile, the "Starplus Dog" co-developed by STARPLUS LEGEND and Unitree Technology made its first public appearance.

Previously, on September 12 during morning trading, Hong Kong-listed STARPLUS LEGEND surged dramatically, rising nearly 22% intraday. In July, the company also soared over 141% due to various positive developments. Today afternoon, the stock reversed from a decline of over 4% to surge upward, briefly turning positive.

**Sudden Surge**

At noon on the 16th, STARPLUS LEGEND announced that its board declared that Star Creative Arts (Kunshan) Entertainment Co., Ltd. (a wholly-owned subsidiary) recently entered into an equity acquisition agreement with Beijing Jinzhou Sunshine Consulting Co., Ltd. (transferor) and Deloitte Touche Tohmatsu Beijing Branch (administrator of the transferor). Under this agreement, Star Creative Arts conditionally agreed to acquire approximately 1.17% equity in National Stadium Company Limited (target company), corresponding to approximately RMB 24.3 million in paid-in registered capital of the target company.

Deloitte was appointed by the court as the transferor's administrator after the transferor entered bankruptcy liquidation proceedings. As of the announcement date, the transferor's creditors have approved the acquisition. The acquisition is subject to satisfaction of several preconditions including unfreezing of sale rights, waiver of preemptive rights by target company shareholders, and completion of necessary state-owned asset regulatory procedures (if required).

Upon completion of the acquisition, the target company will not become a subsidiary of the company, and its financial performance will not be consolidated into the group's consolidated financial statements.

According to information, the target company is a limited liability company established under Chinese law on December 17, 2003, primarily engaged in investment, financing, construction, and operational management of the National Stadium project (including hosting various cultural, sports, and entertainment activities). As of the announcement date, the target company is approximately 53.23% owned by Beijing State-owned Assets Management Co., Ltd. The target company is the construction and operation entity of the National Stadium (Bird's Nest), which is a key national landmark project and an internationally renowned sports and cultural landmark with significant status and far-reaching influence in major sporting events, cultural and sports entertainment activities, and tourism economy.

STARPLUS LEGEND stated that the group possesses industry-leading advantages in celebrity IP creation, operation, and commercialization, having formed a relatively complete IP matrix and content incubation capabilities. The board believes the acquisition aligns with the company's strategic development direction. The Bird's Nest owned by the target company is a scarce landmark asset. Through this acquisition, the company will be able to collaborate more extensively with the target company in combining large-scale cultural and sports entertainment activities with IP resources, fully leveraging both parties' strengths to further enhance the group's capabilities in IP value transformation and industrial synergy, creating positive benefits for the group's long-term development.

**Frequent Strategic Moves by STARPLUS LEGEND**

STARPLUS LEGEND has been making continuous moves in recent months.

On July 9, Jay Chou officially joined the Douyin platform under the name "Jay Student," certified as a singer. Douyin officials confirmed the authenticity of Jay Chou's account. On July 8, STARPLUS LEGEND surged over 26%; after the announcement on July 9, it jumped 94%; combined with gains over the following two trading days, the cumulative increase exceeded 180%. Although it retreated from highs in July, gains still exceeded 140%.

Subsequently, STARPLUS LEGEND announced that its wholly-owned subsidiary Star Creative Arts (Kunshan) Entertainment recently entered into a cooperation agreement with Hangzhou Unitree Technology, becoming mutual global strategic partners. They plan to initially collaborate in developing and commercializing quadruped robot dogs or robots with companion functions and social attributes, jointly creating consumer-grade robot products with strong IP characteristics.

On September 12, news emerged that the "Starplus Dog" co-developed by STARPLUS LEGEND and Unitree Technology would make its first public debut at the Shanghai Tourism Festival opening ceremony float parade on September 13. This "Starplus Dog" represents a fusion of celebrity IP, trendy toys, and technology, featuring companion functions and social attributes. Videos show that unlike market robot dogs that emphasize mechanical aesthetics and cool styling, the "Starplus Dog" has a more "approachable" appearance. On September 12 morning, Hong Kong-listed STARPLUS LEGEND surged straight up, rising nearly 22% intraday.

Zhongtai Securities believes the company's core IP has significant commercial potential with gradually improving product channels.

(1) IP Business: Core IP has ample space with continuous IP matrix expansion. ① Jay Chou IP: Cooperation method: Obtained exclusive rights to develop Jay Student-related projects and non-exclusive priority investment rights for certain Jay Chou-related projects. Commercial potential: Personal IP possesses strong influence with leading fan base and box office appeal. Operations: 1) IP content creation and management: a. Media content creation: Using "Jay's Traveling Diary" series as flagship product with mixed monetization methods. b. Event planning: Focusing on concert investment and event planning, collecting investment income and event sponsorship advertising plus IP merchandise sales revenue. c. Celebrity IP management: Continuous exposure + refined operations to maximize IP value.

(2) IP licensing and related merchandise sales: 2D IP penetrates offline scenarios, with "Finding Jay Student" activities continuously expanding Jay Student IP's influence. The company collaborates with Unitree to jointly create consumer-grade robot products with strong IP attributes. Currently, Jay Student IP licensing is extensive, covering five major areas: fashion, cultural creativity, 3C, food, and precious metals. ② Liu Genghong IP: Jointly established Talent Planet joint venture with W&V to provide planning and management services for Liu Genghong's entertainment and performance business in China. Creating national fitness coaches and matrix accounts, collecting related advertising and live-streaming commission income. (2) New Retail Business: Expanding product matrix and focusing on live-streaming e-commerce. ① Product side: Building diversified product networks around health/beauty care tracks. ② Channel side: Focusing on live-streaming e-commerce and private domains, constructing omni-channel marketing networks.