BEIJING, March 24, 2025 — QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading provider of lifestyle solutions that empower adults to live better and longer, today announced its entry into definitive agreements to invest in Shenzhen Yiqi Culture Co., Ltd. (“Letsvan”), a Chinese company focused on IP creation, copyright commercialization, and the marketing and sales of pop toys. This deal signifies QuantaSing’s strategic move into the pop toy market and the broader consumer goods industry. Upon completion of the investments as per the agreements, Letsvan will become a controlled subsidiary of QuantaSing, and its financial performance will be incorporated into QuantaSing’s financial statements.
According to Frost & Sullivan, the global and Chinese character toy markets were valued at RMB345.8 billion and RMB40.3 billion in 2023, respectively. They are projected to increase at a compound annual growth rate (CAGR) of 9.3% and 17.7%, reaching RMB540.7 billion and RMB91.1 billion in 2028, respectively. Character-based figurines, a key part of Letsvan’s offerings, have demonstrated strong growth with a CAGR of 17.8% from 2017 to 2023 and are expected to maintain a 16.8% growth rate through 2027. Collectible toys have become very popular internationally, with increasing consumer interest in limited-edition items and character-based products across different age groups.
Letsvan has developed a robust IP portfolio featuring well-known characters like Wakuku, Ziyuli, and other unique IPs that have gained popularity in the collectibles market. The company has rapidly expanded its distribution channels through partnerships with major retail chains, e-commerce platforms, and specialized toy stores, improving both its online and offline distribution capabilities. International expansion is currently in progress, including the establishment of operations in Southeast Asia to take advantage of growing regional demand.
Following this strategic investment, QuantaSing will implement an omni-channel strategy for Letsvan, integrating online and offline retail experiences for consumers. With successful market validation, the company is now positioned to transform Letsvan into a significant business unit. A dedicated, integrated team comprising QuantaSing’s leadership and Letsvan’s core team will implement the growth strategy, under the leadership of Mr. Peng Li, the founder, Chairman, and CEO of QuantaSing.
“This investment demonstrates our strategic use of our substantial cash reserves to capitalize on fundamental opportunities in the consumer sector,” said Mr. Peng Li. “Having finalized our market assessment, we are now moving into the scaling phase by leveraging our digital marketing skills and operational expertise. We anticipate driving growth in this area while maintaining the financial prudence that has consistently delivered value to our shareholders.”
“Joining QuantaSing provides Letsvan with significant growth opportunities,” said Huiyu (Zack) Zhan, CEO of Letsvan. “By combining our IP strengths with QuantaSing’s operational capabilities and entrepreneurial drive, we aim to become a leading player in the pop toy industry. We are dedicated to improving our products and providing excellent service, ensuring our customers have consistently enjoyable experiences with our brands.”
About QuantaSing Group Limited
QuantaSing is a leading lifestyle solution provider empowering adults to live better and longer. Leveraging its profound understanding of adult users and robust infrastructure, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners as well as consumer products and service in selected areas to address the senior users’ aspirations for wellness.
For more information, please visit: https://ir.quantasing.com.
Contact
Investor Relations
Leah Guo
QuantaSing Group Limited
Email: ir@quantasing.com
Tel: +86 (10) 6493-7857
Robin Yang, Partner
ICR, LLC
Email: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429
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