Wuxi Wisdom Ruixin Management Consulting Partnership (Limited Partnership) entered into an agreement to acquire a minority stake in Jiangsu Jetsen Ruichuang Technology Development Co., Ltd. from Beijing Jetsen Technology Co., Ltd. (SZSE:300182) for CNY 20.6 million on December 22, 2020. In a related transaction, Wuxi Wisdom Ruixin Management also entered into a capital contribution agreement and will increase the capital of Jiangsu Ruichuang by CNY 244.4 million. Post the completion of share transfer and capital contribution agreement Wuxi Wisdom will hold 70.63% stake and Beijing Jetsen will continue to hold 29.37% stake. Jiangsu Jetsen Ruichuang reported total assets of CNY 152.6 million and net assets of CNY 62.2 million as of July 31, 2020. The transaction has been unanimously approved by the Board of Beijing Jetsen on December 22, 2020.