Yunnan Gongtou Junyang Investment Co., Ltd. signed letter of intent to acquire 18% stake in Easy Visible Supply Chain Management Co.,Ltd. (SHSE:600093) from Yunnan Jiutian Investment Holding Group Co., Ltd. for CNY 2.6 billion on February 11, 2020. Yunnan Jiutian Investment Holding Group Co., Ltd. entered into an agreement to acquire 18% stake in Easy Visible Supply Chain Management Co.,Ltd. from Yunnan Jiutian Investment Holding Group Co., Ltd. for CNY 2.9 billion on March 17, 2020. As per the terms, Yunnan Industry Investment will acquire 202 million shares at CNY 12.83 per share. Yunnan Gongtou Junyang Investment Co., Ltd. shall pay Yunnan Jiutian Investment Holding Group Co., Ltd. the transfer price of the batch of shares within 3 working days after the completion of the transfer of each batch of shares. Yunnan Gongtou Junyang Investment shall pay CNY 720.1 million, CNY 720.1 million, and CNY 1.2 billion for 56.1 million, 56.1 million and 89.8 million shares respectively. As per the final agreement of March 17, 2020, Yunnan Gongtou Junyang Investment Co., Ltd. will pay CNY 14.41 per share of Easy Visible Supply Chain Management Co.,Ltd. On March 4, 2020, a guarantee amount of CNY 650 million is already paid. The exact compensation will be paid within 3 days since signing of the final agreement. The transaction is subject to the approval from the Central Yunnan New District Management Committee. The transaction is expected to complete before March 31, 2020. As on April 1, 2020, the transaction is expected to close before April 30, 2020. As of May 1, 2020, Yunnan Jiutian Investment Holding Group Co., Ltd. and Yunnan Gongtou Junyang Investment have extended the share transfer agreement to May 31, 2020. As on May 7, 2020, Yunnan Gongtou completed the acquisition of 56.1 million accounting for 5% of the shares of Easy Visible Supply Chain. As of July 15, 2020, Yunnan Gongtou completed the acquisition of 89.8 million shares accounting for 8% of the shares of Easy Visible Supply Chain. Due to large number of financial institutions involved in the thawing and unpledged pledges, the process has slowed down for the transfer of shares. On July 31, 2020, Yunnan Jiutian Investment Holding Group Co., Ltd. and Yunnan Gongtou Junyang Investment Co., Ltd. signed Share Transfer Agreement Supplement Agreement agreeing to extend the transfer completion to before August 11, 2020. As of August 12, 2020, the after receiving the notice from Yunnan Jiutian Investment Holding Group Co., Ltd, the remaining 56.12 million shares to be transferred (accounting for 5% of the Easy Visible Supply Chain Management Co.,Ltd.’s total share capital) have completed the pledge and release procedures. The transfer of shares is in progress. After approval by the relevant departments, the transfer of shares is expected to be completed within 7 working days before August 20, 2020.