Shenzhen Zhonglian Financial Holding Investment Development Co., Ltd. entered into a sale and purchase agreement to acquire 19.6% stake in FY Financial (Shenzhen) Co., Ltd. (SEHK:8452) from HongKong Shanshan Resources Company Limited on June 16, 2021. Post completion, Shenzhen Zhonglian Financial Holding Investment Development Co., Ltd. will hold 70.45 million unlisted foreign shares (representing 19.6% stake) and 1.39% equivalent to 5 million domestic shares aggregating to 20.99% stake in total becoming second largest shareholder and HongKong Shanshan Resources Company Limited will seize to hold any stake in FY Financial (Shenzhen) Co., Ltd.