Shanghai Xinjiang Technology Co., Ltd. agreed to acquire a 60% stake in Shanghai Weishiqing Digital Technology Co., Ltd. from Shenzhen Infinova Limited (SZSE:002528) for CNY 18.4 million on December 20, 2021. The total consideration comprises of CNY 1 million deposit and remaining payment to be made within 3 days from the agreement effective date. The total assets and net assets of Shanghai Weishiqing Digital Technology Co., as of August 31, 2021, were CNY 33.27 million and CNY 23.09 million, respectively.

The transaction was approved in the 20th meeting of the 5th Directorate of Shenzhen Infinova held on December 27, 2021, and does not need the shareholders' approval.