Zhe Jiang Dali Technology Co.,Ltd (SZSE:002214) signed an agreement to acquire 51% stake in Beijing Hangyu Zhitong Technology Co., Ltd from Ningbo Meishan Free Trade Port Area Fengnian Junhe Investment Partnership Enterprise (Limited Partnership), Gao Shiying and Wang Qilong for CNY 52.5 million on May 30, 2020. As per terms of transaction, Zhe Jiang Dali Technology Co.,Ltd will acquire 35% stake held by Ningbo Meishan Free Trade Port Area Fengnian Junhe Investment Partnership Enterprise (Limited Partnership) for CNY 36 million, 11.68% stake held by Gao Shiying for CNY 12.01 million and 4.32% stake held by Wang Qilong for CNY4.44 million. Consideration of 50% will be paid within 15 days after the agreement signing and remaining within 3 working days after the completion of registration modification and completion of asset transfer and changes in articles of association. For the year ended March 31, 2020, Beijing Hangyu Zhitong Technology Co., Ltd reported total assets of CNY 13.3 million, net assets of CNY 0.6 million, revenue of CNY 2 million and net loss of CNY 1.3 million.