Li Wanzhen agreed to acquire a 5.03% stake in Shenzhen Huijie Group Co., Ltd. (SZSE:002763) from Lin Shengzhi for approximately CNY 140 million on September 17, 2022. Under the terms, Li Wanzhen will acquire 20,600,000 unrestricted shares of Shenzhen Huijie for CNY 6.89 per share. Post acquisition, Lin Shengzhi wil hold 112,594,600 shares representing 27.47% stake in Shenzhen Huijie.

Li Wanzhen completed the acquisition of a 5.03% stake in Shenzhen Huijie Group Co., Ltd. (SZSE:002763) on October 13, 2022. Post acquisition, Li Wanzhen holds 21,641,000 shares representing 5.28% stake in Shenzhen Huiji. Lü Xingping as the only shareholder currently holding more than 30% of the Shenzhen Huijie shares, has become the actual controller of the Shenzhen Huijie.