Fang Hebing agreed to acquire 13.9535% stake in Hangzhou Kunheng Technology Co., Ltd. from Lionhead Technology Development Co., Ltd. (SHSE:600539) for CNY 15 million on March 30, 2023. As per agreement, Within 10 working days after the signing of this agreement, Fang Hebing shall pay Lionhead Technology Development CNY 8 million. The remaining repurchase payment of CNY 7 million shall be paid within 90 days after the signing of this agreement.

The board of Lionhead Technology Development has approved the deal on March 30, 2023.