Fujian Zitian Media Technology Co., Ltd. (SZSE:300280) signed an agreement to acquire Fujian Wandou Jianjian Network Technology Co., Ltd. from Liu Jie and Ding Wenhua for CNY 1.4 billion on June 19, 2022. The share issue price is CNY 17.68. The issue price still needs to be reviewed and approved by the Shenzhen Stock Exchange and be approved for registration by China Securities Regulatory Commission. Liu Jie sell 40% stake and Ding Wenhua is selling 60% stake in Fujian Wandou Jianjian Network Technology Co., Ltd. Fujian Wandou Jianjian Network Technology Co., Ltd. reported financial from January to March 2023, operating revenue of CNY 37.49 million, net profit of CNY 20.91 million. Fujian Zitian Media Technology Co., Ltd. board of directors and shareholders approved the transaction. Fujian Zitian Media Technology Co., Ltd. (SZSE:300280) will issue CNY 750 million through private placement.

Cui Xiuhong of Chuancai Securities Co., Ltd. acted as financial advisor, Zhao Jing, and Yang Lijie of China Commercial Law Firm acted as legal advisor, Aodu Jiya and Li Tiantian of Moore Stephens Da Hua and Tian Mengjun, and Ren Haichun of Asia Pacific (Group) CPAs (Special General Partnership) Sichuan Branch acted as accountant to Fujian Zitian Media Technology Co., Ltd.

Fujian Zitian Media Technology Co., Ltd. (SZSE:300280) cancelled the acquisition of Fujian Wandou Jianjian Network Technology Co., Ltd. from Liu Jie and Ding Wenhua on November 1, 2023.