He Jie signed agreement to acquire 5.12% stake in Shenzhen Minkave Technology Co., Ltd. (SZSE:300506) from Cheng Zongyu for approximately CNY 110 million on February 18, 2021. Under the terms of transaction, He Jie will acquire 33.5 million shares at CNY 3.29 each. After the Shenzhen Stock Exchange issues a confirmation document, on the day Cheng Zongyu pays the personal income tax for the transfer, He Jie must pay CNY 20 million, CNY 48.9 million on the transfer completion date and remaining must be paid within 12 months after completion date. He Jie completed the acquisition of 5.12% stake in Shenzhen Minkave Technology Co., Ltd. (SZSE:300506) from Cheng Zongyu on February 25, 2021. He Jie holds 5.12% stake in Shenzhen Minkave Technology Co., Ltd.