Wenhua HuLian subsidiary completes key network technology acquisitions

Zhejiang Wenhua HuLian Group Co., Ltd. (Wenhua HuLian) reported that its wholly-owned subsidiary, Hangzhou Wenhua HuLian Technology Co., Ltd. (Wenhua Technology), has completed the acquisition of a 37.2692% equity interest in Zhejiang Star Nest Network Technology Co., Ltd. (Star Nest Network) and a 73.9088% property share in Hangzhou Xinzhu Enterprise Management Partnership (Limited Partnership) (Hangzhou Xinzhu). This follows the approval at Wenhua HuLian's Tenth Board of Directors' Nineteenth Ad Hoc Meeting on March 28, 2025.

The industrial and commercial registration changes for Star Nest Network and Hangzhou Xinzhu have been finalized, with the respective stakes successfully transferred to Wenhua Technology. Prior to the acquisition, Star Nest Network had a registered capital of RMB 1,000万元, while Hangzhou Xinzhu's registered capital was RMB 100万元.

Post-transaction, Wenhua Technology now holds 37.2692% of Star Nest Network's equity. In Hangzhou Xinzhu, Wenhua Technology is now the general partner, holding a 73.9088% property share. This strategic acquisition enhances Wenhua HuLian's presence in the network technology sector through its subsidiary.