On November 14, 2023, Poly Culture Group Co., Ltd. ("Poly Culture", 03636.HK) and Zhongyi Century Cultural Industry Investment Co., Ltd. ("Zhongyi Century", Poly Culture's controlling shareholder China Poly Group Co., Ltd. ("Zhongyi Century") Poly Group")) issued a joint announcement regarding the privatization of Poly Culture by absorption and merger by Zhongyi Century (the "privatization transaction"), announcing that all implementation conditions under the merger agreement have been fulfilled If reached, Poly Culture will voluntarily withdraw its H-share listing status on the same day.

Poly Culture was founded in 2000 and listed on the main board of the Hong Kong Stock Exchange in 2014. It is mainly engaged in art management and auction, performance and theater management, and cinema investment management. It also actively develops art education, cultural tourism, cultural asset management, and culture It has new businesses such as digitalization and owns well-known brands such as Poly Theater, Poly Auction, Poly Pictures, Poly Art Education, Poly WeDo, and Poly Art Museum. It is the first auction stock in the mainland. This privatization transaction will help Poly Group and Poly Culture further integrate high-quality resources within the group, improve the company's asset structure and financial level, and promote a new milestone in the development of Poly Culture.

Tian Yuan Law Firm, as Poly Culture's legal advisor in both domestic and Hong Kong jurisdictions, provided full legal services for this privatization transaction. It completed the H-share privatization plan, transaction documents, performed the privatization procedures, and wrote comprehensive documents for the company. While preparing the required disclosure documents and successfully convening the voting procedures of the shareholders' meeting, it also provides comprehensive assistance to the company in aspects such as shareholder communication and regulatory inquiries during the privatization process.

In recent years, Tian Yuan has provided full legal services for a large number of privatization transactions of Chinese overseas listed companies. This privatization transaction is another major transaction project in which Tian Yuan’s domestic and Hong Kong branches have successfully implemented integrated linkage.