Fan Jibo signed a share transfer agreement to acquire 5.01% stake in Jiangsu Wanlin Modern Logistics Co., Ltd. (SHSE:603117) from Huang Baozhong for approximately CNY 110 million on March 25, 2023. As part of the transaction, Fan Jibo will acquire 31.7 million shares at per a price of CNY 3.325 per share.