Xi'an Tongji Yongle Commercial Operation Management Co., Ltd. made an offer to acquire 24.38% of stake in Renrenle Commercial Group Co.,Ltd. (SZSE:002336) for CNY 630 million on August 8, 2022. The Board of Yongle Commercial and Qujiang Cultural approved the deal. The tender offer period is 30 calendar days in total and has an expiry period as February 13, 2023.

Kaiyuan Securities Co., Ltd. acted as financial advisor and Shaanxi Forever Law Firm acted as legal advisor to Xi'an Tongji Yongle.