Jinke Smart Services Group Co., Ltd. (SEHK:9666) entered into an agreement to acquire 7.693% stake in Shanghai Hotspot Catering Service Co., Ltd. from Fuzhou Yueying Venture Capital Partnership (Limited Partnership) on July 27, 2023. In related transactions, Jinke Smart Services Group Co., Ltd. (SEHK:9666) will acquire 22.8% stake in Shanghai Hotspot Catering Service Co., Ltd.. The total consideration for these transactions is CNY 114.79 million.

The transaction is subject to due diligence investigation. For the year ended December 2022, Revenue was CNY 390.27 million, Gross Profit was CNY 123 million, Net loss was CNY 18.09 million, Total assets were CNY 171 million and Net assets were CNY 61.19 million.