Wang Shengyu agreed to acquire a 6.24046% stake in Ribo Fashion Group Co., Ltd. (SHSE:603196) from Qu Jiangting for approximately CNY 110 million on March 8, 2023. Under the terms, Wang Shengyu will acquire 14.72 million shares at a price of CNY 7.46 per share in cash. Currently Qujiang Pavilion holds 6.14% stake and Wang Shengyu holds no stake in Ribo Fashion Group.

Wang Shengyu completed the acquisition of 6.24046% stake in Ribo Fashion Group Co., Ltd. (SHSE:603196) from Qu Jiangting on march 30, 2023.