Shenzhen Original Advanced Compounds Co., Ltd. (SHSE:603991) signed an asset purchase agreement to acquire 51% stake in Suzhou Juyun Technology Co., Ltd. from SUCCESS FACTORS LIMITED for approximately CNY 120 million on November 8, 2022. Suzhou Juyun Technology has reported total assets of CNY 30.8471 million and net assets of CNY 6.3989 million on December 31, 2021. According to terms of agreement, Shenzhen Original Advanced Compounds shall pay the deal value after deducting the taxes and fees in cash in one-off within 15 days after the approval of the foreign exchange administration department or its authorized agency.

SUCCESS FACTORS and Suzhou Juyun Technology shall complete the industrial and commercial change registration procedures for the assets within 15 working days after this agreement takes effect. Within 10 days after Shenzhen Original Advanced Compounds pays all the transaction consideration, Suzhou Juyun's official seal, private seal of legal representative, business license and other business licenses and seals shall be handed over to Shenzhen Original Advanced Compounds. The board of Shenzhen Original Advanced Compounds has reviewed and approved the deal on August 30, 2022.

As on December 1, 2022, Shenzhen Original Advanced Compounds Co., Ltd. 2nd Extraordinary Shareholders Approved the deal.