China Academy of Telecommunication Technology agreed to acquire a 9.2% stake in Zhongxinke Zhilian Technology Co., Ltd. from Gohigh Networks Co.,Ltd (SZSE:000851) for approximately CNY 190 million on August 4, 2023. As of August 21, 2023, recently China Academy of Telecommunication Technology signed an equity transfer agreement 9.2% stake in Zhongxinke Zhilian Technology Co., Ltd. from Gohigh Networks Co.,Ltd (SZSE:000851) and received the first equity transfer payment of CNY 99.45 million from Zhongxinke Zhilian Technology Co., Ltd. Second payment is to be made within 4 months from the effective date of this Agreement. China Academy of Telecommunication will pay CNY 1.89 per share.

As of March 2023, Zhongxinke Zhilian Technology reported a total assets of CNY 1.3 billion and net asset of CNY 1.2 billion. The transaction is approved by the board of Gohigh Networks and still needs to be submitted to the regular shareholders? meeting for deliberation.

Gohigh Networks' shareholders approved the transaction.