Zhang Hua entered into the Equity Transfer Agreement to acquire remaining 10% stake in Nanjing Depth Element Artificial Intelligence Technology Development Company Limited from China Parenting Network Holdings Limited for CNY1.5 million.

Zhang Hua entered into the Equity Transfer Agreement to acquire remaining 10% stake in Nanjing Depth Element Artificial Intelligence Technology Development Company Limited from China Parenting Network Holdings Limited (SEHK:1736) for CNY1.5 million on December 19, 2023. For the year ended December 31, 2023 Nanjing Depth Element Artificial Intelligence Technology Development Company Limited reported net loss of CNY 5.8 million and total assets of CNY18.42 million. The transaction is expected to close in 5 days from the date of announcement.

China Parenting Network Holdings Limited is expecting that the net proceeds from the Disposal will be used by the Group as general working capital of the Group.