Hangzhou Ali Venture Capital Co., Ltd. signed agreement to acquire 5.26% stake in Mango Excellent Media Co., Ltd. (SZSE:300413) from Mango Media Co., Ltd. for CNY 6.2 billion on December 2, 2020. As per the terms of the agreement, Hangzhou Ali Venture Capital will acquire 93.6 million shares in Mango Excellent Media Co., Ltd. at CNY 66.23 per share. Hangzhou Ali Venture Capital shall pay CNY 1.8 billion to Mango Media Co., Ltd. within 5 working days after the signing of this agreement and the remaining CNY 4.3 billion within 10 working days after Mango Media obtains the approval of the state-owned assets supervision and administration department.