Shenzhen Feihua Culture Co., Ltd. agreed to acquire Shenzhen Paojiao Sizhi Information Technology Co., Ltd. from Surfilter Network Technology Co., Ltd. (SZSE:300311) for CNY 51.4 million on June 11, 2021. Within 1 month after Shenzhen Feihua Culture Co., Ltd. shareholders' approval, Shenzhen Feihua Culture Co., Ltd. will pay 51% of the transfer prices. Within 3 months after the completion of the transfer, Shenzhen Feihua Culture Co., Ltd. will pay the remaining amounts.

As of March 31, 2021, Shenzhen Paojiao Sizhi Information reported Total assets CNY 40.4 million and net assets of CNY 19.9 million. The transaction is subject to Surfilter Network Technology shareholders' approval. The transaction has been approved by the board of Surfilter Network Technology.

As of June 28, 2021, the transaction has been approved by shareholders of Surfilter Network Technology Co., Ltd. As of June 29, 2021, the company received an initial equity transfer payment of CNY 11.22 million for 100% equity of Tangren Digital from Feihua Culture, and an initial equity transfer payment of CNY 26.214 million for 100% equity of Paojiao Sizhi.