Qingdao Silicon Valley Paradise Hongtan Investment Co., Ltd. agreed to acquire 19.3% of stake in Flying Technology Co., Ltd. (SHSE:603488) from Jin Peirong, Xi Fang, Ding Yu, Chang Chengjian and Yang Yinong for approximately CNY 660 million on December 15, 2022. The transaction price of this agreement transfer is 11.8 yuan per share.

Qingdao Silicon Valley Paradise Hongtan Investment Co., Ltd. completed the acquisition of additional 19.3% minority stake in Flying Technology Co., Ltd. (SHSE:603488) on December 30, 2022. Post acquisition, Qingdao Silicon Valley Paradise Hongtan Investment Co., Ltd. holds 29.99% stake in Flying Technology.