Deng Xin signed an equity transfer agreement to acquire Shenzhen China Diving Sports Co., Ltd from China Dive Company Limited (SZSE:300526) for CNY 58.5 million on May 15, 2020. As of December 31, 2019, Shenzhen China Diving Sports reported total assets of CNY 1,013.5 billion, net assets of CNY 358.16 billion, revenue of CNY 1,229.2 billion and net profit of CNY 139.47 billion. The independent directors of China Dive Company expressed their independent opinions on the transaction and still need China Dive Company Limited's shareholder approval.