Zhao Jianguang, Beijing Fuquan Phase I Investment Fund Management Center (Limited Partnership), Beijing Jianyuan Honggeng Investment Management Partnership (Limited Partnership), Beijing Jianyuan Boyi Investment Management Partnership (Limited Partnership) and Beijing Jianyuan Xinbo Equity Investment Center (Limited Partnership) and Beijing Quanshi World Online Network Information Co., Ltd agreed to acquire 8.33% stake in Beijing Xiashang Technology Co., Ltd from Hu Liwen for CNY 4.2 million on October 28, 2020. Under the terms, Beijing Xiashang reported total assets of CNY 2.1 million and net assets of CNY- 0.4149 million as of September 30, 2020. The transaction has been approved by the Board of Beijing Quanshi World Online Network on October 28, 2020. The transaction is expected to be completed within 30 days of payment being received.