Wang Feng agreed to acquire additional 26.78% stakes in Beijing 35 Tonglian Technology Development Co., Ltd. from Xiamen 35.Com Technology Co., Ltd. (SZSE:300051) for CNY 1.75 million on August 15, 2022. After the transaction, Wang Feng's stake in the Beijing 35 Tonglian Technology Development Co., Ltd. will increase from 8.58% to 35.36%. As of June 30, 2022 Beijing 35 Tonglian Technology Development Co., Ltd. reported total assets of CNY 15.0376 million and net assets of CNY --4.6704 million.

The transaction is subject to approval of merger agreement by Beijing 35 Tonglian Technology Development Co., Ltd. board. The transaction has been approved by the Beijing 35 Tonglian Technology Development Co., Ltd. board.