Guangdong Jiayuan Technology Co.Ltd. (SHSE:688388) agreed to acquire Shandong Xinliyuan Electronic Copper Foil Technology Co., Ltd. from Chen Guoying for approximately CNY 100 million on August 12, 2021. Under the terms of transaction, parties agree to separate the target company’s account receivables of CNY 47.076 million from the purchase price as contingent consideration as of June 30, 2021; after excluding the above contingent consideration, the purchase price CNY 57.864 million as a fixed consideration. Within five working days from the effective date of this equity purchase agreement, Guangdong Jiayuan Technology will pay 50% of the fixed consideration as advance payment, namely CNY 28.932 million. The parties agree that the aforesaid equity purchase advance payment shall be automatically converted to the first 50% fixed consideration after meeting the prerequisites for the effectiveness of the agreement. After the parties have signed no objections to the handover, and the target company has completed the industrial and commercial change registration of changing Guangdong Jiayuan Technology to the only shareholder. Within 15 working days from the date of equity delivery, Guangdong Jiayuan Technology will pay second remaining 50% fixed consideration, which is CNY 28.932 million. Guangdong Jiayuan Technology will use its own funds for acquisition. As of June 30, 2021, Shandong Xinliyuan Electronic reported total assets of CNY 229.626 million, net assets of CNY 54.252 million, operating income of CNY 113.744 million, net profit of CNY 1.529 million. The transaction has been reviewed and approved at the sixteenth meeting of Guangdong Jiayuan Technology company's fourth Board of Directors.