Ling Yun Industrial Corporation Limited (SHSE:600480) signed an equity transfer agreement to acquire remaining 49.9% stake in Changchun Lingyun Jiensi Technology Co., Ltd. from GNS Solitech Co., Ltd. for CNY 260 million on July 15, 2021. As per terms, the consideration shall be paid in cash. The consideration, shall be paid in $ in cash and settled at the base exchange rate on the day of payment, and the transferee shall pay the handling fee. After this agreement comes into effect, the transferee shall pay the equity transfer funds to the bank account designated by the transferor within one and a half months. Post completion, Lingyun Jiensi Technology Co., Ltd. will become a wholly owned subsidiary of Ling Yun Industrial Corporation Limited. As of May 31, 2021, total asset and net asset of Lingyun Jiensi Technology Co., Ltd. was CNY 1.6 billion and CNY 607 million respectively. The profit or loss incurred during the transition period shall be enjoyed or borne by the transferee. The transferor agrees that the target company will continue to use the existing company name within 4 years. The transaction is approved at 21st meeting of the 7th Board of Directors and the 14th meeting of the 7th Board of Supervisors of Ling Yun Industrial Corporation Limited on July 15, 2021. Ling Yun Industrial Corporation Limited (SHSE:600480) completed the acquisition of remaining 49.9% stake in Changchun Lingyun Jiensi Technology Co., Ltd. from GNS Solitech Co., Ltd. on September 15, 2021. The transaction has been approved by the shareholders of Ling Yun Industrial Corporation Limited on August 24, 2021.