Shanghai Yuchangyi Industrial Co., Ltd. agreed to acquire 74.63% stake in UnitedData Holding Group Co., Ltd. from Lontrue Co., Ltd. (SZSE:300175) for CNY 85 million on May 15, 2024. UnitedData reported total assets of CNY 93.04 million, operating loss of CNY 57.44 million and net liabilities of CNY 127.6 million for period ended December 31, 2023. This transaction still needs to be submitted to Lontrue Co., Ltds general meeting of shareholders for review. There is uncertainty as to whether it can be approved and ultimately implemented. Lontrue Co., Ltd. held the 17th meeting of the 4th Board of Directors on May 15, 2024, and reviewed and approved the Proposal on the Sale of UnitedData Holding Group Co., Ltd Assets and Related Transactions. As of May 31, 2024, the shareholders of Lontrue approved the transaction.

Shanghai Yuchangyi Industrial Co., Ltd. completed the acquisition of 74.63% stake in UnitedData Holding Group Co., Ltd. from Lontrue Co., Ltd. (SZSE:300175) on June 26, 2024.