A Metaverse Company (SEHK:1616) entered into the repurchase agreement to acquire additional 10% stake in Khorgos Starrise Qicheng Media Co., Ltd from Bei Jing Corporate Management Consultation (Ningbo) Co., Ltd on July 5, 2022. As per the terms of consideration, Metaverse Company will pay nil consideration to Bei Jing Corporate Management Consultation. In addition, Metaverse Company entered into the repurchase agreement to acquire additional 39% stake in Khorgos Starrise Qicheng Media Co., Ltd from Jiaxing Shou Jian Tou No.

5 Investment Partnership (Limited Partnership) for CNY 43.7 million. Following both transactions, Khorgos Starrise Qicheng Media will be wholly owned by Metaverse Company.