Guangdong Weide Information Technology CO,.Ltd. (SHSE:688171) agreed to acquire 47.25% stake in Beijing Guoxin Landun Technology Co., Ltd. from Beijing Shishenghe Technology Partnership (Limited Partnership), Qin Feng, Chen Yuqiang, Liang Guixia and Ma Tianhong on March 12, 2024. Guangdong Weide Information Technology will acquire remaining 7.12% stake in Beijing Guoxin Landun Technology through capital increase, which will take the total stake of Guangdong Weide in Beijing Guoxin to 51%. After the completion of this transaction, Guangdong Weide will become the controlling shareholder of Beijing Shishenghe.

The proportions between each parties can be adjusted by separate negotiations between the parties and shall be subject to the final officially signed equity investment contract. The target equity transfer arrangements will be negotiated separately by the parties and shall be subject to the final signed formal equity investment contract.