Gong Longzong agreed to acquire 51% stake in Guangxi Sanchuan Wisdom Water Co., Ltd. from Sanchuan Wisdom Technology Co., Ltd. (SZSE:300066) for CNY 0 on March 30, 2023. After the completion of this transaction, Sanchuan Wisdom Technology will no longer hold the equity of Guangxi Sanchuan. Guangxi Sanchuan Wisdom Water has reported total assets of CNY 2.320998 million, net assets of CNY -0.078418 million, revenue of CNY 1.71615 million and net profit of CNY -0.339218 million on December 31, 2022.

The board of Sanchuan Wisdom Technology has approved the deal and does not need to be submitted to Sanchuan Wisdom Technology's shareholders' meeting for consideration.