Perfect Group Corp., Ltd signed a Share Transfer Agreement to acquire 16.5% stake in WEIMEIZI Industrial (Guangdong) Co., Ltd from Beijing Legend Maolin Equity Investment Partnership Enterprise (L.P.) and Beijing Hanying Chengfeng Investment Center (Limited Partnership) for approximately CNY 470 million on February 1, 2023. Under the terms of transaction, Perfect Group will acquire 18.56 million shares in total out of which 17. 76 million shares will be acquired from Beijing Legend Maolin Equity and 0.8 million shares from Beijing Hanying Chengfeng.

Within 14 days after the payment terms are met, the Buyer will pay 20% of the transfer price. Within 240 days after the payment terms are met, the Buyer will pay 80% of the transfer price. After the transfer, the Buyer will hold 32.165% directly and indirectly and Seller will not hold any stake in WEIMEIZI Industrial.

As of September 30, 2022, WEIMEIZI Industrial had total assets of CNY 1.1 billion and net asset as CNY 430 billion approximately. This has been approved in the 4th Meeting of the Buyer's 3rd Directorate held on February 1, 2023, and is subject to the Shareholders' Approval.