Suzhou Qingzhouyuan Fengxinyuan Venture Capital Partnership and Qingdao Qianshu Investment Partnership entered into an agreement to acquire 30% stake in Shenyan Artificial Intelligence Technology (Shenzhen) Co., Ltd. from Shenzhen Urban Transport Planning Center Co., Ltd. (SZSE:301091) for CNY 9.1 million on November 7, 2022. Suzhou Qingzhou and Qingdao Qianshu will acquire 12% and 18% of the equity respectively. Shenyan Artificial Intelligence Technology (Shenzhen) Co., Ltd. reported total assets of CNY 7.83 million, EBIT of CNY 7.27million and net loss of 6.92 million.

The transaction is subject to approval of regulatory authority and third party approval.