Special Instructions:
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This announcement concerns the signing of a supplementary agreement regarding the performance commitments for the acquisition of remaining equity in the subsidiary. It is based on the understanding that the performance commitments are subject to certain conditions and that the actual performance may vary. The company will convene a board meeting to decide on the matter.
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The company and relevant parties will ensure that the commitments are fulfilled as per the agreement. The company will utilize its resources to ensure compliance and will provide updates as necessary.
Basic Transaction Situation
Transaction Overview
On June 29, 2021, the company held its fifth board meeting, where it approved the proposal regarding the acquisition of remaining equity in Shanghai Smart Advertising Co., Ltd. The decision was made to invest in the company through a joint venture, with the company holding a 40% stake. The total transaction amount was determined to be 480 million RMB.
In July 2021, the company reported that the performance commitments for the acquisition were to be fulfilled by June 30, 2021, and July 29, 2021. The company will provide updates on the performance commitments.
Performance Commitment Fulfillment Situation
Based on the report from the accounting firm, the company has fulfilled its performance commitments for the years 2021 to 2024. The following table summarizes the performance commitments:
| Year | Committed Profit | Actual Profit | Whether Actual Profit Meets Commitment |
|---|---|---|---|
| 2021 | 15,000,000 | 9,833,599.05 | No |
| 2022 | 15,000,000 | 2,949,911.10 | No |
| 2023 | 15,000,000 | 3,780,494.36 | No |
| 2024 | 15,000,000 | 851,476.52 | No |
| Total | 60,000,000 | 9,854,492.31 | No |