Qingdao Rural Commercial Bank Co., Ltd. (SZSE:002958) agreed to acquire 10% stake in Shenzhen Luohu Blue Ocean Community Bank Co. Ltd from Shenzhen Kingsun Science & Technology Co.,Ltd (SZSE:300235) for CNY 53.7 million on June 25, 2024. A cash consideration of CNY 53.75 million valued at CNY 1.075 per share will be paid by Qingdao Rural Commercial Bank Co., Ltd. As part of consideration, CNY 53.75 million is paid towards common equity of Shenzhen Luohu Blue Ocean Community Bank Co. Ltd.

As of March 31, 2024, Shenzhen Luohu Blue Ocean Community Bank Co. Ltd reported total assets of CNY 1.51 billion and total common equity of CNY 544.13 million.

The deal has been approved by the board of directors of Shenzhen Kingsun Science & Technology Co.,Ltd.