Beijing Quantum Jump Technology Co., Ltd. entered into an agreement to acquire 11.23% stake in IReader Technology Co., Ltd. from Zhang Lingyun and Cheng Xiangjun for CNY 1.1 billion on November 4, 2020. Beijing Quantum Jump Technology purchased 45.05 million shares of IReader Technology at CNY 24.42 per share. Post the transaction, Zhang Lingyun will hold 24.8%, Cheng Xiangjun holds 23.28% and Beijing Quantum Jump Technology holds 11.23% stakes in IReader Technology.