B-Soft announces controlling interest transfer to Hangzhou Better

Hangzhou Better Smart Investment Management Partnership (Hangzhou Better) has signed a share transfer agreement with B-Soft's largest shareholder, Ge Hang, to acquire 96,525,096 shares, representing 6.23% of the company's total share capital, at 5.18 yuan per share. Ge Hang has also entrusted 155,780,282 shares, or 10.06% of the total share capital, to Hangzhou Better, forming a concerted action relationship. Hangzhou Better has also secured voting rights for 40,000,000 shares from Jinfuyuan (Hainan) Private Equity Fund Management Partnership, totaling 12.64% of the voting rights. Hangzhou Better has made an initial payment of 15,787.76574 million yuan for the share transfer.

Following these agreements, Hangzhou Better will become the largest shareholder and plans to initiate a private placement. The company’s board will consist of eleven members, including six non-independent directors, four independent directors, and one employee representative director. Current chairman and legal representative Zhang Lüzheng will continue in his roles for at least two terms of three years each.

A cooperation agreement has been signed by Hangzhou Better, Zhang Lüzheng, Chen Zhongyang (director and general manager), and Ge Hang, outlining commitments to maintaining stable operations and governance during and after the transition. Zhang Lüzheng and Chen Zhongyang have also committed not to seek control of the company for six years.