Xinyu Investment Holding Group Co., Ltd. signed a share transfer framework agreement to acquire a 29.99% stake in Shenzhen Qixin Group Co., Ltd. (SZSE:002781) from Shenzhen Zhida Investment Holding Co., Ltd. and Ye Xiudong for CNY 1.1 billion on June 20, 2020. As per terms, Xinyu Investment Holding Group Co., Ltd. will acquire 67.5 million shares at CNY 16.21 per share in the transaction. Shenzhen Zhida Investment Holding Co., Ltd. will sell 56.7 million shares representing 25.2% stake and Ye Xiudong will sell 10.8 million shares representing 4.8% stake in Shenzhen Qixin Group Co., Ltd. Post-completion, Shenzhen Zhida Investment Holding Co., Ltd. will reduce its stake from 39.3% to 14.11% and Ye Xiudong will not hold any stake in Shenzhen Qixin Group Co., Ltd. On July 25, 2020, the two parties signed the Share Transfer Agreement. Xinyu Investment has paid CNY 109.38 million. The sincerity money will become part of the price paid for the transfer of the underlying shares. The transfer payment will be paid in three installments, CNY 437.52 million, CNY 175.07 million and CNY 371.84 million.