Beijing Baijia Shilian Technology Co., Ltd. acquired additional 17.62% stake in Beijing Deran from its shareholders for CNY 5.29 million on March 24, 2022.

Beijing Baijia Shilian Technology Co., Ltd. completed the acquisition of additional 17.62% stake in Beijing Deran from its shareholders on March 24, 2022. The total purchase consideration of $830,324 (CNY 5.6 million) consisted of a cash payment of $568,622 (CNY 3.86 million), which was paid in full in April 2022, settlement of receivable from the seller in the amount of $124,660 (CNY 845,904), and assumption of liabilities in the amount of $137,042 (CNY 929,924).