Anhui Shunyuan Xinke Management Consulting Partnership Enterprise (Limited Partnership) entered into an agreement to acquire 29.99% stake in Jiangsu Yitong High-Tech Co., Ltd. (SZSE:300211) from Wang Zhenhong for approximately CNY 960 million in cash on January 5, 2021. The transaction is subject to the approval of shareholders meeting and filling with the stock exchange, among other customary closing conditions. As of January 22, 2021, transaction is pending approval of Chinese regulator. The transaction is expected to close before the first half of 2021.