Jiajiayue Group Co., Ltd. (SHSE:603708) agreed to acquire remaining 49% stake in Qingdao Weekly Commercial Chain Co., Ltd. from Qingdao Weekly Group Co. for approximately CNY 230 million on October 25, 2022. Consideration will be paid from Jiajiayue Group's own funds.

For the year end December 31, 2021, Qingdao Weekly had total assets of CNY 699.0193 million, 4.6299 million of net assets, 725.3712 million of operating income and CNY 15.9172 million of net profit.