Beijing Baination Pictures Co.,Ltd. (SZSE:300291) agreed to acquire 60% stake in Xi'an Yongxingfang Cultural Business Travel Planning and Operation Co., Ltd. from Shen Jianpeng for CNY 90 million on April 12, 2023. Beijing Baination Pictures will use its own funds of CNY 90 million. Xi'an Yongxingfang Cultural Business Travel Planning and Operation Co., Ltd. reported total assets and net assets of CNY 22.22 million and 8.17 million respectively in October 2022.

Beijing Baination Pictures Co.,Ltd. board of directors approved the transaction. This transaction still needs to be approved by the company's shareholders' meeting.