Ningbo Yingfeng Ruihe Investment Management Co., Ltd agreed to acquire 29.42% stake in Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816) from Kuka Group Company Limited and TB Home Limited for CNY 10.3 billion on November 9, 2023. The share transfer price is to be paid in two installments, the first installment is 90% of the share transfer price, and the second installment is 10% of the share transfer price. As per the transaction, Ningbo Yingfeng Ruihe Investment Management Co., Ltd will acquire 241.8 million shares at CNY 42.5846 per share. After the transfer, Yingfeng Ruihe Investment will own 29.42% stake in Jason Furniture (Hangzhou). The transaction is subject to regulatory and antitrust approvals. As on December 25, 2023, a supplementary agreement was signed and the consideration was revised to CNY 36.7187 per share.

Ningbo Yingfeng Ruihe Investment Management Co., Ltd completed the acquisition of 29.42% stake in Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816) from Kuka Group Company Limited and TB Home Limited on January 10, 2024.