Fujian Apex Software Co., Ltd. (SHSE:603383) company signed an equity transfer agreement to acquire majority stake in Shanghai Furong Financial Information Service Co., Ltd. from Huang Yichao on December 30, 2021. Fujian Apex Software Co., Ltd. agreed to acquire majority stake in Shanghai Furong Financial Information Service Co., Ltd. from Huang Yichao on August 18, 2021. After transaction and capital increase, Fujian Apex Software will hold 64.98% stake.

Huang Yichao has a stake of 80.1% in Shanghai Furong. After the completion of this investment, the target company will serve as a professional subsidiary of ApexSoft. Acquisition will be funded using own funds.

Shanghai Furong has a net assets of CNY -0.9047 million and total assets of CNY 0.3423 million as of June, 2021. This foreign investment must be reviewed by the relevant departments of Yangpu District, Shanghai, and there may be a risk of failing the review; at the same time, the foreign investment needs to perform necessary decision-making and approval procedures in accordance with relevant laws, regulations and Fujian Apex articles of association. The agreement signed this time is only an agreement of intent, which is ultimately subject to the formal transfer agreement and investment agreement signed by both parties.

There is uncertainty about the signing time and content of the formal agreement. The transaction has been reviewed and approved by the sixth meeting of the eighth board of directors of Fujian Apex Software.