Suzhou Yunchetong Information Technology Co., Ltd. agreed to acquire 92% stake in Suzhou Raiyi Information Technology Co.,Ltd from Tongding Interconnection Information Co., Ltd. (SZSE:002491) for approximately CNY 270 million on December 6, 2021. The consideration will be paid in five installments, as follows: First phase payment of CNY 40 million in Dec 25, 2021; Second phase payment of CNY 51.08 million on June 30, 2022; Third phase payment of CNY 53.6 million on June 30, 2023; Fourth phase payment of CNY 55.9 million on June 30, 2024; and Fifth phase payment of CNY 69.5 million on June 30, 2025. Suzhou Raiyi Information Technology reported total assets as approximately CNY 170 million and net assets as approximately CNY 140 million for the period end on October 31, 2021. Suzhou Raiyi Information reported revenue as approximately CNY 220 million, operating profit as CNY -1.8 million and net profit as CNY 3.7 million for the period end on December 31, 2020. On December 3, 2021, the 12th session of the company’s 5th directorate approved the transaction. This transaction still needs to be approved by the shareholders meeting.