Shandong New Beiyang Information Technology Co., Ltd. (SZSE:002376) agreed to acquire 8% stake in Weihai New Beiyang Rongxin Technology Co., Ltd. from Shi Cheng for CNY 20.9 million on April 26, 2024. The transfer price of this share is determined to be CNY 2.18 per share. The 30% of the transfer price will be paid before May 31, 2024 and remaining 70% will be paid before December 31, 2024.

After the equity acquisition is completed, the Shandong New Beiyang's shareholding ratio will increase from 60.00% to 68.00%, and Rongxin Technology will still be included in the company's consolidated financial statements. The board of directors of Shandong New Beiyang Information Technology approved the transaction.