Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
iHuman Inc. Announces Acquisition
of Businesses and Assets Related to All Knowledge and Perfect Lingo
BEIJING, China, May 31, 2026 —
iHuman Inc. (NYSE: IH) (“iHuman” or the “Company”), a leading provider of tech-powered, intellectual development
products in China, today announced that it has entered into certain asset transfer agreements to acquire the businesses and assets related
to two products, All Knowledge (全知识) and Perfect Lingo (万词王) (the “Acquisitions”),
for an aggregate consideration of RMB94.0 million, subject to potential two-way price adjustments and contingent earn-out payments.
All Knowledge is an app that focuses
on humanities and AI literacy, providing users with AI-powered interactive access to knowledge across history, culture, literature, philosophy,
art, and other humanities fields. All Knowledge features a number of systematic learning tools, including spatio-temporal views, historical
timelines, and relationship graphs. It has also launched a series of ladder-style learning products, including Elite Youth Tianti,
which is among China’s first batch of systematic general knowledge learning programs, Literature and History Tianti, which
provides comprehensive and structured learning content for literature and history enthusiasts, and AI Tianti, which is designed
to help users better apply, understand, and harness AI.
Perfect Lingo is an AI learning app
designed to help users expand their vocabulary, improve pronunciation, and develop comprehensive English learning capabilities through
real-life scenarios and video-based learning, extensive dictionaries, AI-powered assessment, intensive training exercises, and pronunciation
practice, as well as a personalized AI learning system built around vocabulary learning.
Mr. Michael Yufeng Chi, founder
and chairman of iHuman, commented, “We are pleased to announce the acquisition of the businesses and assets related to All Knowledge
and Perfect Lingo. The Acquisitions represent not only an important step in expanding our product portfolio, but also a strategically
meaningful move for us in the industry. All Knowledge and Perfect Lingo bring strong content, AI technology capabilities, deep understanding
of the learning market across all age groups, and proven organizational execution in sales and services. All Knowledge and Perfect Lingo
are highly complementary to our existing product ecosystem, and will open up new market opportunities for us. The addition of these products
will also help us extend the boundaries of our services and the user groups we reach, while further expanding our product portfolio and
AI capabilities, deepening our content offerings, diversifying our product ecosystem, and generating stronger synergies across our products.
We believe this initiative will significantly enhance our market competitiveness and unlock substantial potential for future growth.
In addition, on behalf of the board
of directors, I am pleased to announce the appointment of Mr. Teng Li from All Knowledge and Perfect Lingo as Co-Chief Executive
Officer (Co-CEO) of iHuman, effective upon closing of the transactions. We are also pleased to welcome Ms. Congyu Lin as our new
Chief Strategy Officer (CSO) to support the Company’s business development. Prior to joining iHuman, Ms. Congyu Lin held the
position of Senior Vice President at Perfect World, and will bring her extensive experience in management and strategic planning to us.
Mr. Li and Ms. Lin have each demonstrated outstanding leadership and deep expertise in their respective fields. Their addition
will bring fresh energy and strategic vision to iHuman. We believe they will work closely with our existing management team to further
drive the Company’s business development, open up broader market opportunities, and create more sustainable growth momentum,”
Mr. Chi concluded.
Pursuant to the asset transfer agreements,
the Company will conduct acquisition of the businesses and assets related to All Knowledge and Perfect Lingo, for considerations of RMB67.0
million and RMB27.0 million, respectively, subject to potential purchase price adjustments. The purchase prices would be adjusted downward
to RMB51.0 million for All Knowledge and RMB21.0 million for Perfect Lingo if certain material adverse events occur. In addition, the
sellers may be entitled to contingent earn-out payments of up to RMB29.0 million for All Knowledge and RMB12.0 million for Perfect Lingo
in cash, subject to the achievement of certain financial conditions over the next three years. The Company engaged the valuation services
of a “Big Four” accounting firm (the “Valuer”) to prepare an independent third-party valuation. The considerations
were determined with the assistance of the Valuer. The Acquisitions, which constitute related party transactions due to the common control
between the transferors and the Company, have been approved by the board of directors and the audit committee and are subject to customary
closing conditions. The appointments of Mr. Teng Li and Ms. Congyu Lin have also been nominated by the Company’s nominating
and corporate governance committee and approved by the board of directors.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,”
“anticipates,” “future,” “intends,” “plans,” “believes,” “estimates”
and similar statements. Statements that are not historical facts, including statements about iHuman’s beliefs and expectations,
are forward-looking statements. Among other things, the description of the management’s quotations in this announcement contains
forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities
and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials,
and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks
and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement,
including but not limited to the following: iHuman’s growth strategies; its future business development, financial condition and
results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the
spending of paying users, the trends in, and size of, the market in which iHuman operates; its expectations regarding demand for, and
market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic
and business conditions; regulatory environment; and assumptions underlying or related to any of the foregoing. Further information regarding
these and other risks is included in iHuman’s filings with the SEC. All information provided in this press release is as of the
date of this press release, and iHuman does not undertake any obligation to update any forward-looking statement, except as required
under applicable law.
About iHuman Inc.
iHuman Inc. is a leading provider of
tech-powered, intellectual development products in China that is committed to making the child-upbringing experience easier for parents
and transforming intellectual development into a fun journey for children. Benefiting from a deep legacy that combines nearly three decades
of experience in the parenthood industry, superior original content, advanced high-tech innovation DNA and research & development
capabilities with cutting-edge technologies, iHuman empowers parents with tools to make the child-upbringing experience more efficient.
iHuman’s unique, fun and interactive product offerings stimulate children’s natural curiosity and exploration. The Company’s
comprehensive suite of innovative and high-quality products include self-directed apps, interactive content and smart devices that cover
a broad variety of areas to develop children’s abilities in speaking, critical thinking, independent reading and creativity. Leveraging
advanced technological capabilities, including 3D engines, AI/AR functionality, and big data analysis on children’s behavior &
psychology, iHuman believes it will continue to provide superior experience that is efficient and relieving for parents, and effective
and fun for children, in China and all over the world, through its integrated suite of tech-powered, intellectual development products.
For investor
and media enquiries, please contact:
iHuman Inc.
Mr. Justin
Zhang
Investor Relations
Director
Phone: +86-10-5780-6606
E-mail: ir@ihuman.com
Christensen
Advisory
Ms. Alice
Li
Phone: +86-10-5900-1548
E-mail: ihumangroup@christensencomms.com