Zhejiang Daily Digital Culture Group Co.,Ltd. (SHSE:600633) signed a share transfer letter of intent to acquire 10.66% stake in Sichuan Xunyou Network Technology Co., Ltd. (SZSE:300467) from Zhang Jianwei, Yuan Xu, Chen Jun and Hu Huan for approximately CNY 500 million on June 21, 2019. Under the term, Zhang Jianwei, Yuan Xu, Chen Jun and Hu Huan will transfer 2 million, 5.5 million, 14.3 million and 2 million shares of Sichuan Xunyou Network Technology to Zhejiang Daily Digital Culture Group respectively. Zhejiang Daily Digital Culture Group will pay not more than CNY 21 per share in cash. As of June 20, 2019. Zhang Jianwei, Yuan Xu, Chen Jun and Hu Huan holds 9.71%, 9.99%, 7.08% and 3.60% stake in Sichuan Xunyou Network Technology. The transaction is subject to final discussions and negotiations of the transaction.

Zhejiang Daily Digital Culture Group Co.,Ltd. (SHSE:600633) cancelled the acquisition of 10.66% stake in Sichuan Xunyou Network Technology Co., Ltd. (SZSE:300467) from Zhang Jianwei, Yuan Xu, Chen Jun and Hu Huan on June 21, 2020.