KAISA Jiayun Technology Inc. (SZSE:300242) agreed to acquire Beijing Haili Insurance Brokers Co., Ltd. from Shanghai Jiawan Zhaoye Real Estate Co., Ltd. for CNY 41.5 million on July 30, 2020. The first installment will be paid within 5 working days from the date when Beijing Haili Insurance Brokers and Shanghai Jiawan Zhaoye Real Estate sign the equity transfer agreement. KAISA Jiayun Technology shall pay the transferor 20% of the equity transfer payment, which is CNY 8.306 million. The second installment will be paid within 3 months from the completion of Beijing Haili Insurance Brokers's industrial and commercial change registration and/or filing procedures as described in the equity transfer agreement, 80% of the equity transfer payment, which is CNY 33.224 million. After the completion of this acquisition, Haili Insurance will become a wholly-owned subsidiary of KAISA Jiayun Technology. For the year ending December 31, 2019, Beijing Haili Insurance Brokers reported operating revenues of CNY 50 million, operating profit of CNY 2.7 million, net profit of CNY 2.7 million, total assets of CNY 59.6 million and net assets of CNY 41.4 million. KAISA Jiayun Technology held the 33rd meeting of the 4th Board of Directors and the 26th meeting of the 4th Board of Supervisors on July 30, 2020 and approved the deal.