Vanjee Technology Co., Ltd. (SZSE:300552) entered into a letter of intent to acquire Beijing Liteng Sunshine Technology Development Co., Ltd. for approximately CNY 570 million on April 12, 2022. Vanjee Technology Co., Ltd. (SZSE:300552) entered into an agreement to acquire Beijing Liteng Sunshine Technology Development Co., Ltd. on April 19, 2022. Under the terms, Vanjee Technology shall pay first payment of 50% of the consideration within 20 working days after the effective date of the agreement and second payment of 50% of the consideration within 20 working after completion.

For the year ended December 31, 2021, Beijing Liteng Sunshine Technology reported total assets of CNY 241.8 million, negative net assets of CNY 44.97 million, operating income of CNY 21.28 million, and net loss of CNY 1.27 million. The transaction has been approved by Board of directors of Vanjee Technology.