Shenzhen Xinyi Capital Investment Co., Ltd. entered into a memorandum of understanding to acquire a 49% stake in Cemetery Business from Evershine Group Holdings Limited (SEHK:8022) on August 18, 2017. The proposed transaction may be conducted by way of subscription of share capital and/or transfer of shares. The formal agreement is expected to be signed within 6 months from the date of the memorandum of understanding failing which, the memorandum of understanding shall be ceased and terminated. Shenzhen Xinyi Capital Investment Co., Ltd. cancelled the acquisition of 49% stake in Cemetery Business from Evershine Group Holdings Limited (SEHK:8022) on February 10, 2019.