Huitongda Network Co., Ltd. (Stock Code: 9878) announced on November 18, 2025, that it has entered into an Equity Acquisition Agreement to acquire 57% equity interest in Tibet Boundary Information Technology Co., Ltd. for RMB456 million. Upon completion, Huitongda Network will consolidate the financial results of the target company into its own statements, making the acquired firm a subsidiary.

The consideration will be paid in five installments, with the first installment of RMB364.8 million conditional on agreement effectiveness, satisfaction of key preconditions, and completion of registration procedures. Subsequent installments each amount to RMB22.8 million and are subject to the target company meeting annual net profit and AI product revenue benchmarks for the years 2025 to 2028. Should the target company’s actual performance fall below 90% of the prescribed net profit targets, the founders will compensate Huitongda Network based on a formula in the agreement.

According to Huitongda Network, the target company is an intelligent technology provider focused on AI products and digital solutions in e-commerce and retail. The board believes that acquiring these capabilities will enhance Huitongda Network’s online 「5+ Empowerment」 offerings in technology, data, training, supply chain, and marketing. The transaction, classified as a discloseable transaction under Chapter 14 of the Listing Rules, does not require further shareholder approval but remains subject to specific closing prerequisites. Shareholders and potential investors are advised to exercise caution when dealing in Huitongda Network’s shares.