Guangxian Media: Unable to recover 8 million yuan in financial support on time.

Ray media announced that its subsidiary Ray Animation provided financial support to Magic Animation, which was originally intended for the investment in the production of the animated movie "Xiao Qian". Ray Animation is the main investor and distributor of the movie. The movie was released on December 6, 2024, and the box office was approximately 12.844 million RMB. As of May 18, 2025, the financial support has expired. Magic Animation's current funds are insufficient to repay the principal of 8 million RMB and corresponding interest from this financial support. The company is unable to recover the financial support on time. Mao Qichao, the legal representative of Magic Animation, will continue to bear joint guarantee responsibility for the debt involved in this financial support.