Jiangxi Xinhe Industrial Co., Ltd. signed an equity transfer agreement to acquire an unknown stake in Bozhi Security Technology Co., Ltd. from China Baoan Group Co., Ltd. (SZSE:000009) for CNY 26.9 million on October 22, 2020. Under the terms, Jiangxi Xinhe Industrial agreed to acquire 2 million shares of Bozhi Security Technology for CNY 13.45 per share before November 10, 2020. If Jiangxi Xinhe Industrial fails to pay equity payment then CNY 17,754 will be paid to China Baoan Group for the overdue for each day and the late fee will be counted until Jiangxi Xinhe Industrial has actually paid off the entire equity transfer payment at end of the day. If Jiangxi Xinhe Industrial fails to pay the amount agreed in this agreement for more than 10 working days overdue, it shall be deemed as a fundamental breach of contract and agreement can be terminated. The termination fee for Jiangxi Xinhe Industrial is 10% of consideration. If China Baoan Group delays, for each day of extension, China Baoan shall pay a penalty of 6.6% of the consideration. The transaction is expected to close no later than December 31, 2020. Jiangxi Xinhe Industrial Co., Ltd. completed the acquisition of an unknown stake in Bozhi Security Technology Co., Ltd. from China Baoan Group Co., Ltd. (SZSE:000009) on December 5, 2020.