HanJiao International Holding Limited acquired AS Capital, Inc. (OTCPK:ASIN) in a reverse merger transaction for CNY 19 million on August 6, 2020. In connection with the share exchange transaction, the AS Capital issued 86 million shares of its common stock in acquiring 100% in the equity shares of HanJiao International Holding Limited. Upon the completion of the Share Exchange Transaction, the shareholders of HanJiao International Holding Limitednow own approximately 88.5% of the common stock of AS Capital. The senior management of HanJiao International Holding Limited will serve as the senior management of the combined entity. Tian Xiangyang joined as Chief Executive Officer, Director and Chairperson of the Board of Director, Shan Yonghua as Chief Financial Officer, and Director, Tian Zhihai as Chief Operating Officer and Director, Yin Jianen as Secretary and Director, Wang Jirui as Director of AS Capital. Gao Xue Ran resigned from all of her positions with the AS Capital. Beijing Luji is deemed to be the accounting acquirer for accounting purposes and the share exchange transaction will be treated as a recapitalization of AS Capital. The AS Capital shall have completed within thirty (30) days from the date of this Agreement of its due diligence investigation of HanJiao International Holding Limited to its satisfaction, HanJiao International Holding Limited shall have delivered to the Company the Financial Statements. The parties agree to take all necessary and prompt actions so as to complete the closing on or before December 31, 2020, or at such other date as may be agreed to by the parties in writing.

HanJiao International Holding Limited completed the acquisition of AS Capital, Inc. (OTCPK:ASIN) in a reverse merger transaction on August 6, 2020.