According to Zhitong Finance App, Yinglan Group (01162) issued an announcement on matters relating to the establishment of a joint venture between Cool Studio, an indirect non-wholly-owned subsidiary of the company, and Yuan Wang. As disclosed in the announcement, Cool Studio and Yuan Wang agreed to set up a joint venture to work on this project, that is, a project to produce and distribute an animated series adapted from Jin Yong's novel “Knight Rider”. The budget production cost is RMB 24 million.
According to the agreement, Yuanwang will raise at least 10% of the project's production costs from external investors, and Cool Studio will disburse the balance. Prior to further disclosure of the arbitration application against Yuan Wang below, Cool Studio had already paid or prepaid a total of RMB 1.31 million and RMB 1.365 million respectively for the production of the “Knight Rider” trailer and animated film under the project. Due to Yuanwang's delay or failure to fulfill its obligations under the agreement, Cool Studio filed an arbitration application against Yuan Wang with the Shenzhen International Arbitration Court on February 28, 2025, seeking a ruling on (including) termination of the agreement, compensation for losses suffered by Cool Studio (including the foregoing payments or advance payments for the project), and transferring ownership of the trailer to Cool Studio.
On August 25, 2026, the Shenzhen Court of International Arbitration issued a ruling, ruling that Cool Studio won the case, ruling (among others) that the agreement had been terminated; Yuanwang should pay Cool Studio a total of RMB 792,500 as compensation; and ownership of the trailer should belong to Cool Studio. Due to the ruling of the Shenzhen Court of International Arbitration, the main transaction constituted by the agreement has been terminated.