① China Ruyi invested $14.2 million (approximately RMB 98.96 million) to acquire shares in AI video generation company Aishi Technology. ② In recent years, China Ruyi has entered the capital market one after another, acquiring a controlling interest in Wanda Film, successively acquiring 100% of the shares in ByteDance-affiliated Youai Interactive Entertainment, 30% of Tencent’s Yonghang Technology, and 30% of Wanda-affiliated Kuaiqian Financial Services.
Cailian Press, January 18 (Wang Yanlin): China Ruyi (00136.HK) has invested an additional $14.2 million (approximately RMB 98.96 million) to acquire a stake in an AI video generation company. China Ruyi announced on January 18 that its indirect wholly owned subsidiary, Virtual Cinema Entertainment Limited, has recently entered into a stock subscription agreement with AIsphere Limited (Target Company) and others, and has invested approximately $14.2 million in Beijing Aishi Technology Co., Ltd. (hereinafter referred to as “Aishi Technology”), a domestic corporation of Target Company.
According to the announcement, China Ruyi, Aishi Technology, and its founder Wang Changhu recently signed a strategic cooperation framework agreement. According to the cooperation agreement, all parties agreed to establish a strategic partnership to explore innovative applications of artificial intelligence technology in the production and operation of film and television, streaming media and gaming content.
China Ruyi said that in recent years, Aishi Technology and its team have provided strategic advice on the application of artificial intelligence technology across the company’s various business units, helping to improve the production efficiency and quality of the company’s works.
According to public information, Aishi Technology was founded in 2023 and focuses on developing large-scale AI video generation models and their applications. According to Tianyancha data, in September 2025, Aishi Technology raised more than $60 million Series B led by Alibaba with participation from investors such as Dachen Capital, Shenzhen Capital Group, Beijing Artificial Intelligence Industry Investment Fund, Hunan Electric Media, Giant Network, and Antler. It has completed a funding round, setting a record for the largest single funding amount in the video generation field in China at the time. Then, in October 2025, it completed another Series B+ funding round of 100 million yuan.
In recent years, China Ruyi has made a series of moves in the capital markets, the most notable of which was the acquisition of control of Wanda Film. In 2023, Ke Liming, the effective controller of China Ruyi, acquired 100% control of Wanda Investment through Shanghai Ruyi Film Production Co., Ltd. and Shanghai Ruyi Investment Management Co., Ltd., indirectly holding 20% of the shares of Wanda Film, and becoming the largest shareholder and effective controller of Wanda Film.
Then, in 2024, China Ruyi acquired 100% of the shares in Beijing Youai Interactive Entertainment Technology Co., Ltd., a game company affiliated with ByteDance, for RMB 2.59 billion. In January 2025, the company acquired a 30% stake in Yonghang Technology, a developer of the QQ Yanmai series of games owned by Tencent, for RMB 8.25 billion. In July 2025, the company also acquired a 30% stake in Kaizen Financial Services (Shanghai) Co., Ltd., a subsidiary of Wanda, for 2.4 billion yuan in cash. In the announcement, Kuaiqian Financial Services has the potential to create synergies with online streaming media, online gaming services and offline movie businesses.
To further expand its capital footprint, China Ruyi has raised funds multiple times to strengthen its financial foundation. In January 2025, China Ruyi issued shares to Sunshine Life Insurance and TFI Investment, raising HK$3.875 billion. In August 2025, China Ruyi announced plans to issue shares to raise approximately HK$3.9 billion. Regarding the use of funds, 20% will be used for growth and expansion of the group’s business, 60% will be used for strategic investments and acquisitions to expand the group’s business, and the remaining 20% will be used for general working capital such as advertising expenses and personnel expenses.
