Genimous Group Co., Ltd signed a equity transfer agreement to acquire remaining 60% stake in Guangzhou Zhidu Commercial Factoring Co., Ltd from Genimous Technology Co., Ltd. (SZSE:000676) for CNY 53.7 million on May 6, 2021. Under the terms of agreement, both parties agreed that within 90 days from the date of submitting all the materials required for the procedures of industrial and commercial change to the industrial and commercial administration authority, 50% of the consideration for the target equity transfer shall be paid; Within 120 days after both parties complete all the industrial and commercial change procedures for the target equity transfer, the entire balance of the target equity transfer consideration shall be paid.Post completion, Genimous Group will hold 100% stake in Guangzhou Zhidu Commercial Factoring Co. In related transaction, Genimous Group Co., Ltd signed a equity transfer agreement to acquire Guangzhou Zhidu Internet Microcredit Co from Genimous Technology Co., Ltd. (SZSE:000676) for CNY 510 million on May 6, 2021. On May 6, 2021, Genimous Technology Co., Ltd. board approve the transaction int third meeting of the ninth board of directors. As of March 31, 2021, Zhidu Commercial Factoring Co had total assets and net assets as CNY 85.2 million and CNY 50.8 million respectively. For year ended December 31, 2020, The Guangzhou Zhidu Commercial Factoring had revenue of CNY 6.7 million, operating profit as CNY 4 million and Net profit as CNY 3.1 million.