Hangzhou Electronic Soul Network Technology Co., Ltd. (SHSE:603258) signed a share transfer agreement to acquire additional 2% stake in Xiamen Youdong Network Technology Co.,Ltd from Longling Capital for CNY 11.2 million on May 27, 2022. The total consideration will be paid in two installments. In a related transaction, Hangzhou Electronic Soul Network Technology Co., Ltd. signed a share transfer contract to acquire 18% stake in Xiamen Youdong Network Technology Co.,Ltd from Fu Ning and Anqing Xierqi Enterprise Management Partnership Enterprise (Limited Partnership) for approximately CNY 120 million. Prior to transaction, Longling Capital holds a 2% stake and upon completion of both transactions, Hangzhou Electronic Soul will wholly own Xiamen Youdong. The transaction will be funded from own funds. The Xiamen Youdong had total assets of CNY 337 million and net assets of CNY 273 million, as of March 31, 2022. The 8th session of Hangzhou Electronic Soul's 4th directorate approved the transaction and still needs to be approved by its shareholders' meeting. As of June 13, 2022, The shareholders of Hangzhou Electronic Soul Network Technology approved the deal.

Hangzhou Electronic Soul Network Technology Co., Ltd. (SHSE:603258) completed the acquisition of additional 2% stake in Xiamen Youdong Network Technology Co.,Ltd from Longling Capital recently.