Doctorglasses Chain Co.,Ltd. (SZSE:300622) signed a letter of intent to acquire 68% stake in Hangzhou Hencego Info-tech Co.,Ltd. from Hong Liangyong for CNY 22.9 million on February 27, 2023. Doctorglasses Chain Co.,Ltd. (SZSE:300622) agreed to acquire 68% stake in Hangzhou Hencego Info-tech Co.,Ltd. from Hong Liangyong on February 28, 2023. Post acquisition, Doctorglasses Chain will hold 68% stake and Hong Liangyong will hold 32% stake in Hangzhou Hencego Info-tech.

Doctorglasses Chain will use it own fund for the acquisition. As of October 31, 2022 Hangzhou Hencego Info-tech reported total assets of CNY 0.72 million and net assets of CNY -5 million. As of February 27, 2023, Doctorglasses Chain's board of directors approved the acquisition.