Confucianism Group (00136) plans to acquire a 30% stake in Kuaiqian Financial Services (Shanghai) for 240 million yuan to expand its financial technology business.

China Ru Yi (00136) announced that its indirect wholly-owned subsidiary, Shanghai Ru Yi Xingchen Enterprise Management Co., Ltd. (purchaser), Shanghai Wanda Network Financial Services Co., Ltd. (seller), and AllPay Finanncial Services (Shanghai) Co., Ltd. (target company) have entered into a share transfer agreement. The purchaser proposes to acquire 30% of the shares of the target company from the seller for a cash consideration of RMB 240 million, payable in three installments.