Solar Blue (HK) Limited agreed to acquire 25.5001% stake in Hangzhou Joyoung Bean Industry Co., Ltd. from Joyoung Co.,Ltd (SZSE:002242) for approximately CNY 180 million on October 30, 2023. As of June 30, 2023, Hangzhou Joyoung Bean Industry Co., Ltd. generated total assets of CNY 658.6 million and net assets of CNY 356.2 million. The transaction is approved by board of directors of Joyoung Co.,Ltd and is subject to shareholders approval of Joyoung Co.,Ltd.