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FINWIRES

Kunlun Tech Divests Gaming Subsidiary for 750 Million Yuan to Focus on AI

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Kunlun Tech (SHE:300418) agreed to sell its 99% stake in Xianlai Interactive Entertainment to Xinglan Interactive Entertainment for 750 million yuan.

The company said the divestiture will sharpen strategic focus and optimize resources for artificial inrelligence-driven growth, according to a Tuesday filing with the Shenzhen bourse.

Xianlai Interactive Entertainment is a casual chess and card game developer founded in 2016.

The buyer is wholly owned by Xiong Liang, who holds the remaining 1% stake.

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