Shenzhen InfoGem Technologies Co., Ltd. (SZSE:300085) entered into an agreement to acquire a 36.33% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd from Shenzhen Mingke E-commerce Management Enterprise, Shenzhen Hongshun Investment Consulting Partnership Enterprise and Ye Qian'an for CNY 65.4 million on February 28, 2022. Currently Shenzhen Mingke E-commerce Management Enterprise holds 2.39% stake, Shenzhen Hongshun Investment Consulting Partnership Enterprise holds 24.73% stake, Ye Qian'an holds 9.20% and Shenzhen InfoGem Technologies Co., Ltd. holds 63.67% stake in Annke Innovation. Post acquisition,Shenzhen InfoGem Technologies Co., Ltd. will hold 100% stake in Annke Innovation.

The Shenzhen InfoGem's will use its own funds of CNY 65.4 million to acquire 36.33% stake in Annke Innovation. The 12th session of the Shenzhen InfoGem's 5th directorate approved the transaction. For the year ended 2021, Annke Innovation had Total assets of CNY 223.31 million, Net assets of CNY 82.21, Revenue of CNY 455.85, Operating profit of CNY 31.43 and Net profit of CNY 30.95 million.