Cao Chaofan agreed to acquire a 5% stake in China Dive Company Limited from Shenzhen Juemeng Management Advisory Co., Ltd. for CNY 65 million on May 17, 2022. Pursuant to the transaction, Cao Chaofan will pay CNY 6.365 per share for 10,212,450 shares, representing 5% stake in China Dive Company. On the day after the agreement becomes effective, Cao Chaofan will pay a deposit of CNY 10 million after the agreement will be effective , Cao Chaofan will pay the remaining amount Within 5 working days from when the shares are released from Shenzhen Juemeng Management Advisory Co., Ltd.'s pledge.

Cao Chaofan completed the acquisition of 5% stake in China Dive Company Limited from Shenzhen Juemeng Management Advisory Co., Ltd. on July 11, 2022.