Zhejiang Internet Subsidiary Completes Purchase of Assets and Business Change Registration, Announces Relevant Information

On March 28, 2025, the 19th extraordinary meeting of the 10th board of directors of Zhejiang Internet Co., Ltd. deliberated and approved the proposal for a subsidiary to purchase assets, agreeing that Zhejiang Technology, a wholly-owned subsidiary, will purchase 37.2692% equity of Xingchao Network and 73.9088% property share of Hangzhou Xin Zhu. Recently, Xingchao Network and Hangzhou Xin Zhu have completed industrial and commercial changes registration, and the related equity has been transferred to Zhejiang Technology. The announcement also disclosed the relevant information of the business license and equity structure of Xingchao Network and Hangzhou Xin Zhu after the changes, with a registered capital of 10 million for Xingchao Network and a contribution of 1 million for Hangzhou Xin Zhu.