Hydsoft Technology Co., Ltd. (SZSE:301316) entered into an agreement to acquire 65% stake in Bayshore Technology (Beijing) Co., Ltd. for CNY 43.5 million on November 2, 2022. As on November 24, 2022, The board of Hydsoft Technology has unanimously approved the transaction at fourteenth meeting of the third board of directors held on November 23, 2022. Bayshore Technology (Beijing) has total assets of CNY 119.2915 million and net assets of CNY 61.8938 million on December 31, 2021.

As per the terms of agreement, Hydsoft Technology will pay 70% of the equity transfer payment within ten working days from the date of signing this agreement and Hydsoft Technology will pay 30% of deal value within ten working days from the delivery date. Recently, Bayshore Technology (Beijing) Co., Ltd. already completed the registration modification procedures for the transaction and obtained the business license issued by the Market Supervision Administration of Chaoyang District Beijing.