Guohong Tianxia Capital Management Co., Ltd. agreed to acquire Beijing Yingshang Consulting Services Co., Ltd. from Guangdong Qunxing Toys Joint-Stock Co., Ltd. (SZSE:002575) for CNY 40.6 million on October 27, 2020. Beijing Yingshang Consulting Services has total assets of CNY 43.94 million and net assets of CNY 40.58 million as of July 31, 2020. Beijing Yingshang Consulting Services generated revenue of CNY 0 and net loss of CNY 0.97 million from January to July 2020. The transaction has been approved by the Board of Directors of Guangdong Qunxing Toys Joint-Stock. The transaction does not need shareholders’ approval.