Company: DKI
Filing Date: 2025-05-23
Form Type: DRS/A
Source: 0001641172-25-012167
Chunk: 99

Company: DarkIris Inc.
Filing Date: 2025-05-23
Form: DRS/A
Chunk 99
---
, in accordance with the laws and regulations in Hong Kong and was a wholly-owned subsidiary of Xiqi. Turing is a limited liability company incorporated on July 11, 2017, under the laws of the PRC and was a subsidiary of Xiqi, which held 80% equity interest in Turing. With the growth of our business and in order to facilitate international capital raising, we underwent an offshore reorganization in 2024 and 2025. In May 2024, Xiqi and Hong Shixiong acquired the remaining 20% equity interest in Turing from other shareholders. In February, 2025, Quantum acquired the equity interest of Turing from Xiqi and Hong Shixiong, and Turing became a wholly-owned subsidiary of Quantum. In January 2025, DarkIris acquired the equity interest of Quantum from Xiqi. DarkIris issued a total of 50,000 Ordinary Shares to the ultimate shareholders of Xiqi and Turing in exchange for their shares owned in Quantum and Turing. We refer to this series of transactions as reorganization. After the reorganization, Quantum became a wholly-owned subsidiary of DarkIris and is one of our operating entities primarily engaged in games development and publishing. Turing was a wholly-owned subsidiary of Quantum after reorganization. On November 4, 2024, DarkIris acquired 100% equity interest in Hongkong Stellar Wisdom Co., Limited at nil consideration, in preparation for future business. As of the date of this prospectus, Stellar is a dormant company and has not commenced operations since registration, and its net assets were zero.

To align with the nature
of our business, we began shifting our business focus toward overseas operations centered in Hong Kong, starting from early 2025. On
May 14, 2025, Quantum entered into a share transfer agreement with Xiamen Yusanjia, an unaffiliated third party, to transfer all outstanding
shares of Turing, at the price approximately at RMB 2.0 million (US$ 268,000) based on its unaudited net assets as of April 30, 2025.
After the Disposition, Turing is no longer owned by Quantum, and we have no operating subsidiary in mainland China.

Our Controlling Shareholder currently owns 34.06% of our Ordinary Shares, which represents 91.17% of our aggregate voting power and, upon consummation of this offering, our Controlling Shareholder will own [*