Fan Jibo signed a share transfer agreement to acquire 6.48% stake in Jiangsu Wanlin Modern Logistics Co., Ltd. (SHSE:603117) from Chen Ming and Chen Hao for approximately CNY 140 million on March 25, 2023. The total number of shares to be acquired are 41.01 million at CNY 3.325 per share. As of August 1, 2023, the parties signed Share Transfer Agreement Supplement Agreement agreeing that Fan Jibo shall pay the consideration of CNY 20 million in September, 2023, CNY 10 million in October, CNY 10 million in November and the remaining amount in December.

Fan Jibo completed the acquisition of 6.48% stake in Jiangsu Wanlin Modern Logistics Co., Ltd. (SHSE:603117) from Chen Ming and Chen Hao on December 29, 2023.