Kuoyuan Business Management (Shanghai) Co., Ltd. and Liang Feng agreed to acquire 29.75% stake in Ribo Fashion Group Co., Ltd. (SHSE:603196) from Wang Weidong and Shanghai Ribo Investment Holdings Co., Ltd. on May 15, 2023.

Kuoyuan Business Management (Shanghai) Co., Ltd. and Liang Feng completed the acquisition of 29.75% stake in Ribo Fashion Group Co., Ltd. (SHSE:603196) from Wang Weidong and Shanghai Ribo Investment Holdings Co., Ltd. on August 31, 2023.