On the evening of January 1st, Huanju Group announced that it had received a notice from a Baidu affiliated company to terminate the November 2020 share purchase agreement. YY Live's sale to Baidu was basically completed on February 8th, 2021, and some matters still need to be completed in the future. However, Baidu claimed in the notice that it had exercised its right to terminate the share purchase agreement and cancelled the transaction. In this regard, Huanju Group is seeking legal advice and will consider all options it can take in response to Baidu's notice.