Guangzhou Pearl River Industrial Development Co., Ltd. (SHSE:600684) entered into an equity transfer agreement to acquire 51% stake in Guangzhou Suifang Honghua Technology Development Co., Ltd. from Guangzhou Zhongqiao Property Investment Holding Group Co., Ltd. for CNY 1 on March 2, 2021. As of September 30, 2020, Guangzhou Suifang Honghua Technology Development reported total assets worth CNY 332.8 million and net assets worth 121.97 million. The transaction has not came into effect till March 2, 2021.