Kingnet Network Co., Ltd. signed a share transfer agreement to acquire an additional 29% stake in St. Hero' Network Technology Co. Ltd from Jin Danliang and Chen Zhongliang for CNY 570 million on May 25, 2023. As of December, 2022, St. Hero' Network Technology Co. Ltd reported operating revenue of approximately CNY 2 billion and operating profit of approximately CNY 1.2 billion. The deal has been approved by Directors of Kingnet Network Co., Ltd.

Kingnet Network Co., Ltd. completed the acquisition of an additional 29% stake in St. Hero' Network Technology Co. Ltd from Jin Danliang and Chen Zhongliang on August 15, 2023.