What is the background of Hangzhou United Bank? Can someone provide a brief explanation?

Mars Finance News: On May 21, Zhejiang Oriental announced that the company plans to acquire a 4% stake in Hangzhou United Bank from its controlling shareholder, Zhejiang State International Trade Group, at a price of 10.65 yuan per share. The transaction involves 87,218,518 shares, with a total consideration of approximately 929 million yuan. This transaction constitutes a related-party transaction and does not involve a major asset restructuring. After the transaction is completed, the company will hold a total of 7.94% of Hangzhou United Bank’s shares. This transaction is still subject to approval by the National Financial Regulatory Administration or its dispatched offices, as well as approval by the company’s shareholders’ meeting. (Company Announcement)