The Transaction secures full ownership of the IP for the Group, enabling full retention of the value generated throughout its lifecycle and eliminating any future royalty obligations to the developer. The total consideration amounts to RMB 32 million (approximately Euro 4 million), that will be funded through the Group’s available credit lines.

Wuchang: Fallen Feathers, developed by Leenzee and published by the Group’s subsidiary 505 Games, is a soulslike action RPG set in the land of Shu during the dark and tumultuous late Ming Dynasty. The product was launched on July 24, 2025 on PC, PlayStation 5, Xbox Series X/S and was made available through the subscription service Xbox Game Pass.

The game demonstrated strong commercial traction, reaching the top position in Steam’s Global Top Sellers chart ahead of release and attracting over 130,000 concurrent users on Steam on launch day. As of March 31, 2026, Wuchang: Fallen Feathers has sold over 1 million units, generating more than Euro 30 million in revenues (net of tax duties and commissions), confirming the strength of the product and its long-term potential. The collaboration with Leenzee has been positive and constructive to this day, with no outstanding economic disputes between the parties.

“This acquisition reflects our continued commitment to building a diversified portfolio of owned IP with global appeal,” said Rami and Raffi Galante, CEOs of Digital Bros Group. “China represents not only one of the most important markets for our industry, but also a rapidly growing source of creative talent and original intellectual property. WUCHANG is a clear example of how high-quality content emerging from China can resonate with players worldwide, while also capturing the opportunity within the sizeable and growing domestic premium segment. We intend to further strengthen our presence in this vibrant Chinese ecosystem, and we are actively looking for partners in China to grow the IP globally.”

The acquisition grants 505 Games full ownership of the WUCHANG IP, enabling long-term franchise development across multiple platforms and potential expansion into additional media formats. The Group intends to further build on the brand in the coming years.

The transaction aligns with the Digital Bros group broader strategic priorities, including increasing ownership of franchises in key verticals and expanding and reinforcing partnerships in high-growth regions. China remains central to the Group’s long-term vision, both as a development hub and as a critical commercial market.

With this acquisition, 505 Games is well positioned to accelerate the global expansion of the WUCHANG franchise, leveraging its publishing expertise and global distribution network to unlock the full value of the IP. The collaboration with Leenzee has been positive and constructive to this day with no outstanding economic disputes between the parties.