Tianjin Binhai New Area Huiyun Hongchuang Technology Partnership Enterprise (Limited Partnership), Tianjin Binhai New Area Yundao Tongsheng Technology Partnership Enterprise (Limited Partnership), Tianjin Binhai New Area Yunzhi Jietong Technology Partnership Enterprise (Limited Partnership), Tianjin Binhai New Area Yunda Xiangsheng Technology Partnership Enterprise (Limited Partnership) and Tianjin Binhai New Area Yuntong Juxin Technology Partnership Enterprise (Limited Partnership) agreed to acquire a 7.10% stake in Chanjet Information Technology Company Limited (SEHK:1588) from Yonyou Network Technology Co., Ltd. (SHSE:600588) for approximately CNY 140 million on November 23, 2020. Under the term, Yonyou Network Technology will transfer 15.41 million shares of Chanjet Information Technology Company Limited at CNY 9.16 per share. Tianjin Binhai New Area Huiyun Hongchuang Technology Partnership Enterprise (Limited Partnership), Tianjin Binhai New Area Yundao Tongsheng Technology Partnership Enterprise (Limited Partnership), Tianjin Binhai New Area Yunzhi Jietong Technology Partnership Enterprise (Limited Partnership), Tianjin Binhai New Area Yunda Xiangsheng Technology Partnership Enterprise (Limited Partnership) and Tianjin Binhai New Area Yuntong Juxin Technology Partnership Enterprise (Limited Partnership) will acquire 3.68 million, 3.48 million, 3.2 million, 3.19 million and 1.88 million shares of Chanjet Information Technology Company Limited representing 1.69%, 1.60%, 1.47%, 1.47% and 0.87% respectively.

The transaction was approved in the 11th meeting of Yonyou Network Technology's 8th directorate held on November 23, 2020, and does not need the shareholders' approval.