Guangzhou Huadu Market Construction Co., Ltd. agreed to acquire 10% stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangzhou Kingteller Technology Co.,Ltd. (SZSE:002177) for CNY 38.8 million on November 22, 2021. As per the transaction Guangzhou Huadu Market Construction Co., Ltd. will acquire 25 million shares of Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. representing 10% stake. As on July 31, 2021, Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. generated total assets of CNY 4.3 billion and net assets of CNY 493.4 million. The transaction is approved by board of directors of Guangzhou Kingteller Technology Co.,Ltd. The proceeds from the equity transfer will be used to supplement working capital.

Guangzhou Huadu Market Construction Co., Ltd. completed the acquisition of a 10% stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangzhou Kingteller Technology Co.,Ltd. (SZSE:002177) on May 9, 2022.