Ma Xuan signed share transfer agreement to acquire a 3.53% stake in Hangzhou Lianluo Interactive Information Technology Co.,Ltd (SZSE:002280) from He Zhitao for approximately CNY 270 million on November 27, 2021. Ma Xuan will acquire 76.8 million shares at a price of CNY 3.55 per share. Post transaction, He Zhitao will hold 435,555,987 shares representing 20% stake in Hangzhou Lianluo Interactive Information Technology Co.,Ltd. The transfer of shares under this agreement needs to be confirmed by the Shenzhen Stock Exchange before compliance with the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. can be processed for the transfer of shares related procedures. He Zhitao will use the transfer price to repay its pledge financing debt.