Kairun Group: Wholly-owned subsidiary plans to acquire 20% stake in Shanghai Jiale for 280 million yuan.

Kaifun Corporation announced that its wholly-owned subsidiary, Chuzhou Mirun, plans to acquire 20% of the shares of Shanghai Jialei Co., Ltd. held by Huai'an Jiuan Entrepreneurship Investment Partnership Enterprise for 280 million yuan in self-owned funds or self-raised funds. After the transaction is completed, Chuzhou Mirun will hold 71.8480% of Shanghai Jialei's shares. The transaction has been approved by the board of directors, does not constitute a related party transaction, and does not constitute a major asset restructuring.