Beijing Zhongyu Jiatai Industrial Co., Ltd. agreed to acquire 90% stake in Bozhou Zongxiang Information Technology Co., Ltd. from Hubei Geoway Investment Co.,Ltd. (SHSE:600462) for CNY 64 million on July 18, 2022. The transaction needs approval from board and shareholders of Beijing Zhongyu Jiatai Industrial. Zhongyu Jiatai shall pay 20% of the equity transfer amount to Hubei Geoway Investment within 10 working days from the date when general meeting of shareholders approves the transaction, Zhongyu Jiatai shall pay second installment payment of 20% of the equity transfer payment to Hubei Geoway Investment within six months from the date when general meeting of shareholders approves the transaction, Zhongyu Jiatai shall pay third installment payment 30% of the equity transfer payment to Hubei Geoway Investment within 12 months from the date when shareholders meeting approves the transaction and Zhongyu Jiatai shall pay fourth installment payment 30% of the equity transfer payment to Hubei Geoway Investment within 15 months from the date when shareholders meeting approves the transaction.