Beijing Dahao Technology Corp.,Ltd (SHSE:603025) agreed to acquire 46% stake in Beijing Red Star Co. Ltd. from Beijing Jingtai Investment Management Center and Beijing Hongyun Real Estate Co., Ltd. for CNY 3.6 billion on December 7, 2020. As per terms of transaction Beijing Dahao Technology Corp.,Ltd will acquire 45% stake from Beijing Jingtai Investment Management Center and 1% stake from Beijing Hongyun Real Estate Co., Ltd. Beijing Red Star Co., Ltd.’s 45% from Beijing Jingtai Investment Management Center by issuing 405,897,435 shares at CNY 7.02 per share and 1% from Beijing Hongyun Real Estate Co., Ltd. for CNY 63,320,000 in cash. Consideration will be paid by issue of A-share ordinary shares to Beijing Jingtai Investment Management Center at CNY 7.24 per share and cash to Beijing Hongyun Real Estate Co., Ltd. In a related transaction, Beijing Dahao Technology Corp.,Ltd agreed to acquire Beijing Yiqing Asset Management Co., Ltd. from Beijing Yiqing Holding Co., Ltd. Post completion, Beijing Dahao Technology Corp.,Ltd indirectly hold 100% of the shares of Beijing Red Star. Beijing Dahao Technology Corp., Ltd. will raise supporting funds of not more than CNY 5.2 billion by issuing not more than 30% of total share capital to not more than 35 investors. As on September 30, 2020, reported total assets of CNY 2.4 billion and total common equity of CNY 1.8 billion. Transaction has been approved by the Board of Beijing Dahao Technology Corp.,Ltd and Beijing SASAC. The transaction is subject to approval from State-owned Assets Supervision and Administration Department, Beijing Dahao Technology Corp.,Ltd shareholders’ approval; Anti-Monopoly Bureau of the State Administration for Market Regulation and China Securities Regulatory Commission. On February 9, 2021, the transaction was approved by controlling shareholder of Beijing Dahao. CSC Financial Co., Ltd. acted as financial advisor to Beijing Dahao Technology Corp.,Ltd. He Peng and Pang Yang of Tian Yuan Law Firm acted as legal advisor to Beijing Dahao Technology Corp.,Ltd. Wuyige Certified Public Accountants acted as Accountant to Beijing Dahao Technology Corp.,Ltd.