CXJ Group completes acquisition of 51% stake in Shenzhen Lanbei for RMB 1

CXJ GROUP CO., Ltd

Acquired 51% equity of Shenzhen Lanbei Ecological Technology Co., Ltd. for RMB 1 on October 19, 2021.
Lanbei (est. Oct 2020) has registered capital RMB 1M but no capital paid up at time of transfer.
Cai Lixin appointed as legal representative of Lanbei post-acquisition.
Subsidiary CXJ Technology (Hangzhou) entered agreement with seller Baiwen on Aug 19, 2021.
Conditions precedent included business registration change and payment of transfer price.

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