HangZhou Culture Radio Television Group agreed to acquire additional 39% stake in Hangzhou Film Co., Ltd. from Hengdian Entertainment Co.,LTD (SHSE:603103) for CNY 76.44 million on December 30, 2023. Hangzhou Film Co., Ltd. reported total assets of CNY 81.54 million and net assets of CNY 53.4 million on September 30, 2023. Hengdian Entertainment Co.,LTD board of director approved the transaction.

This transaction does not need to be submitted to the shareholders' meeting for review.