Zhejiang Yankon Group Co., Ltd. (SHSE:600261) intends to acquire remaining 15% stake in Zhejiang Zhiyi IoT Technology Co., Ltd. from Qi Xiaoming for CNY 12 million on January 6, 2023. The board of directors of Zhejiang Yankon Group approved the transaction. The agreement will be signed on January 16, 2023.

Zhejiang Zhiyi IoT Technology recorded total assets of CNY 340.5 million, net assets of CNY 16.69 million, operating income of CNY 463.61 million and net loss of CNY 60.31 million as of December 31, 2022.