China Youzan Limited (SEHK:8083) agreed to spin off 51.9% stake in Youzan Technology Inc. on February 26, 2021. Under the terms of the transaction, each China Youzan Shareholder will be entitled to receive 0.05077265 Youzan Technology share for every China Youzan Share under the distribution. All of the Youzan Technology Shares will be listed on the main board of the stock exchange. In a related transaction, BetaCafe Holdings Limited agreed to acquire China Youzan Limited. Youzan Technology reported total assets of CNY 2.6 billion and total common equity of CNY 949.9 million as of September 30, 2020. The transaction is subject to the passing of a special resolution by a majority of not less than three-fourths of the votes cast by the China Youzan shareholders, court approval and the approval of the stock exchange.