Ningbo Meishan Free Trade Port Area Haoteng Investment Management Partnership Enterprise (LP) signed an agreement to acquire 17% stake in Beijing Internet Harbor Technology Co., Ltd. from Hangzhou Huaxing Chuangye Communication Technology Co., Ltd. (SZSE:300025) for CNY 14.5 million on November 18, 2021. Ningbo Meishan Free Trade Port Area Haoteng Investment Management Partnership Enterprise (LP) agreed to acquire 17% stake in Beijing Internet Harbor Technology Co., Ltd. from Hangzhou Huaxing Chuangye Communication Technology Co., Ltd. (SZSE:300025) on November 24, 2021. Within 5 working days after the agreement signing date, Haoteng Investment will pay the deposit, which is 10% of transfer price, that is CNY 1.5 million.

After the agreement becomes effective, this will be converted to the first transfer payment. Before December 31, 2021, Haoteng Investment will pay the second payment, which is 10% of transfer price, that is CNY 1.5 million. Haoteng Investment must pay the remaining balance of CNY 11.6 million before June 30, 2022.

Beijing Internet Harbor Technology reported total assets as approximately CNY 270 million and net assets as approximately CNY -130 million for the period end on September 30, 2021. As on November 26, 2021, Ningbo Meishan Free Trade Port Area Haoteng Investment Management Partnership Enterprise (LP) paid a deposit of CNY 1,450,000. As of July 1, 2022, Hao Teng Investment failed to pay the equity transfer payment on time.

Hao Teng Investment shall pay the remaining equity transfer payment of CNY 11.6 million to Hangzhou Huaxing Chuangye Communication Technology Co., Ltd. before June 30, 2022. As of June 30, 2022, the Hangzhou Huaxing Chuangye Communication Technology Co., Ltd. has not received the remaining equity transfer payment of CNY 11.6 million from Hao Teng Investment. On December 30, 2021, the 11th session of the company's 6th directorate approved this transaction.

On January 17, 2022, the company's first special shareholders' meeting for 2022 approved this transaction. As of July 29, 2022, Hangzhou Huaxing Chuangye Communication Technology Co., Ltd. received CNY11.60 million of the transfer payment from Haoteng Investment. As of the disclosure date of this announcement, Hangzhou Huaxing Chuangye Communication Technology has received transfer payment of CNY14.50 million from Haoteng Investment.