On March 20, Jiayuan International Holdings (the Group) announced that it has entered into a memorandum of understanding with Mr. Shen Tianqing, the chairman of the Group, to acquire a number of privately held projects in key cities in Anhui Province and plans to pay the acquisition price by issuing new shares. Increase the shareholding ratio of major shareholders. The Group expects that the increase in net assets will further optimize the structure of assets and liabilities, making the financial situation more stable.

According to the non-competition deed signed by Mr. Shen and the group, Mr. Shen’s private group will only operate in non-target cities, while the group will conduct business in the target cities. After the completion of the acquisition, all key cities in Anhui Province will be reclassified as non-target cities as target cities, laying a solid foundation for the Group to formally enter the Anhui market in the future. In addition, the Group can also rapidly expand its business footprint to other key areas, further expand its land bank and achieve economies of scale to enhance competitiveness.

Following the acquisition of the Shanghai Project and Property Management Group, Mr. Shen re-injected the assets of Anhui Province into the listed company and fulfilled the commitment of the continuous injection of his private group business. It also shows that Mr. Shen is full of confidence in the long-term development of the group. It has played a positive role in further enhancing and exerting the influence of the “Jiayuan” brand in East China. It will help the Group expand its key areas across the country and continue to implement the strategic goal of “bigger and stronger”.