Shenzhen Feihua Culture Co., Ltd. agreed to acquire Shenzhen Paojiao Sizhi Information Technology Co., Ltd. from Surfilter Network Technology Co., Ltd. (SZSE:300311) for CNY 51.4 million on June 11, 2021. Within 1 month after Shenzhen Feihua Culture Co., Ltd. shareholders’ approval, Shenzhen Feihua Culture Co., Ltd. will pay 51% of the transfer prices. Within 3 months after the completion of the transfer, Shenzhen Feihua Culture Co., Ltd. will pay the remaining amounts. For the year ended on December 31, 2020, Shenzhen Paojiao Sizhi Information Technology Co., Ltd. reported Total assets CNY 3.99546 million, Net assets of CNY 2.0361 million, revenue of CNY 13.02811 million, operating profit of CNY 2.21565 and net profit of CNY 1.53411 million. The transaction is subject to Surfilter Network Technology shareholders’ approval. The transaction has been approved by the board of Surfilter Network Technology. As of June 28, 2021, the transaction has been approved by shareholders of Surfilter Network Technology Co., Ltd. As of June 29, 2021, the company received an initial equity transfer payment of CNY 11.22 million for 100% equity of Tangren Digital from Feihua Culture, and an initial equity transfer payment of CNY 26.214 million for 100% equity of Paojiao Sizhi. Shenzhen Feihua Culture Co., Ltd. completed the acquisition of Shenzhen Paojiao Sizhi Information Technology Co., Ltd. from Surfilter Network Technology Co., Ltd. (SZSE:300311) on June 30, 2021.