Shanghai Yuxi Asset Management Co., Ltd. signed a share transfer agreement to acquire 7.66% stake in Shenzhen Hirisun Technology Incorporated (SZSE:300277) from Xing Wenbiao for approximately CNY 280 million on November 22, 2019. Shanghai Yuxi Asset Management will acquire 25.65 million shares at CNY 11.04 each. Within 7 working days from the date of agreement, Shanghai Yuxi Asset Management shall pay Xing Wenbiao CNY 30 million in advance as the transfer price of the shares. On the date when the transfer of this agreement is approved by Shenzhen Stock Exchange and the transfer registration procedures are completed at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited, Shanghai Yuxi Asset Management shall pay Xing Wenbiao a share transfer price of CNY 111.59 million. As on December 3, 2019, Shenzhen Hirisun Technology Incorporated received the notification letter that Shanghai Yuxi Asset Management Co., Ltd.?failed to pay Xing Wenbiao the first share transfer of CNY 30 million. As of December 3, 2019, Shanghai Yuxi Asset Management Co., Ltd. and Xing Wenbiao are negotiating on the matters related to the transfer of this agreement. Within 4 months after the signing of this agreement, Shanghai Yuxi Asset Management and Xing Wenbiao shall apply to the Shenzhen Stock Exchange for the agreement transfer of the shares of Shanghai Yuxi Asset Management. Within 2 months of obtaining the approval of the Shenzhen Stock Exchange, the transfer registration procedures with the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited will be completed. Shanghai Yuxi Asset Management Co., Ltd. cancelled the acquisition of 7.66% stake in Shenzhen Hirisun Technology Incorporated (SZSE:300277) from Xing Wenbiao on November 4, 2020.