CHINA RUYI (00136) announced that on January 26, 2026 (after trading hours), the company entered into a subscription agreement with the sole lead manager. Pursuant to this agreement, the sole lead manager has agreed to subscribe for and pay, or procure the subscription for and payment of, bonds to be issued by the company with a total principal amount of HK$2.574 billion, subject to the terms and conditions set out in the subscription agreement. Based on an initial conversion price of HK$2.60 per share and assuming full conversion of the bonds at this initial price, the bonds are convertible into approximately 990 million shares. This represents about 5.89% of the company's total issued share capital as of the date of this announcement. The gross proceeds from the bond issuance will be HK$2.574 billion. After deducting fees, commissions, and other related expenses, the net proceeds are estimated to be approximately HK$2.548 billion. Calculated using the initial conversion price, this equates to a net issue price of approximately HK$2.574 per converted share. The company intends to allocate the net proceeds from the bond issuance as follows: (i) approximately 23.27% for repaying group debt; (ii) around 14.36% as part of the consideration for acquiring a 30% equity stake in Beijing Yonghang Technology Co., Ltd.; (iii) about 20.02% for strategic investments and acquisitions to expand the group's business; (iv) approximately 15.31% for the operational needs of the group's gaming business; and (v) roughly 27.04% for series production on its streaming media platform.