Lionhead Technology Development Co., Ltd. (SHSE:600539) entered into an agreement to acquire additional 18% stake in Hangzhou Quentin Science and Technology Co.,Ltd from Fang Hebing for CNY 55.8 million on December 12, 2022. As of December 2021, Hangzhou Quentin reported revenue of CNY 404.14 million and total assets of CNY 35.58 million. As on December 23, 2022, the transaction is approved by board of directors of Lionhead Technology Development Co., Ltd.