Qingdao Victall Railway Co., Ltd. (SHSE:605001) agreed to acquire remaining 5% stake in Chengdu Changtong Hongyuan Technology Co., Ltd. from Qingdao Jinfengheng Equity Investment Enterprise (Limited Partnership) for CNY 31.5 million on June 7, 2024. A cash consideration of CNY 31.5 million will be paid by Qingdao Victall Railway Co., Ltd. As part of consideration, CNY 31.5 million is paid towards common equity of Chengdu Changtong Hongyuan Technology Co., Ltd. Upon completion, Qingdao Victall Railway Co., Ltd. will own 100% stake in Chengdu Changtong Hongyuan Technology Co., Ltd. As of March 31, 2024, Chengdu Changtong Hongyuan Technology Co., Ltd. reported total assets of CNY 285.49 million and total common equity of CNY 245.35 million. The transaction is subject to approval of offer by acquirer board.

The deal has been approved by the board.