Fujian Foxit Software Development Joint Stock Co., Ltd. (SHSE:688095) agreed to acquire 38.27% stake in Foxit Kunpeng (Beijing) Information Technology Co., Ltd. from a group of shareholders for CNY 90.2 million on March 23, 2024. Prior to the transaction, Fujian Foxit Software Development Joint Stock Co., Ltd. (SHSE:688095) held 34.9687%. Post the acquisition, Fujian Foxit Software Development will hold 73.2436% of the equity of Foxit Kunpeng (Beijing).

The board of Fujian Foxit Software approved the transaction. The transaction is still pending the approval of shareholders of Fujian Foxit. Foxit Kunpeng (Beijing) reported total assets of CNY 47.8 million and net assets of -25.4 million as on October 31, 2023.

The transaction is expected to close before April 30, 2024.