Beijing Yovole Cloud Computing Technology Co., Ltd. signed a contract to acquire Beijing Shuoge Technology Co., Ltd. from People.cn CO., LTD (SHSE:603000) for CNY 350 million on May 13, 2022. As per the terms of the deal, the deposit of CNY 105 million paid by Beijing Yovole Cloud Computing Technology Co., Ltd. as required will be deducted as part of the transfer price. A one-time payment method shall be adopted, and the remaining transfer price other than the deposit shall be remitted to the settlement account designated by Beijing Equity Exchange within 5 working days from the date of entry into force of the contract.