Zhuo'er Zhilian (02098) purchased all the shares of Huamian Institute (Taicang), which is engaged in online sales of textile materials, from Yan Zhi, the chairman and controlling shareholder, at a total cost of about 30.964 million yuan (RMB. The same below) (about 36 million Hong Kong dollars).

The group refers to Huamian Institute (Taicang), which is also engaged in warehousing services and distribution of cotton raw materials and products. From June 21 last year to the end of last year, the income was about 619 million yuan, the net profit after tax was about 433000 yuan, and the net asset value was about 30.43 million yuan. The acquisition can strengthen its existing business, especially in the textile industry e-commerce and trade services, and expand the customer base and promote long-term growth.