Shenzhen Shengshi Fenghua Enterprise Management Co., Ltd. agreed to acquire 29.9% stake in Kangyue Technology Co., Ltd. (SZSE:300391) from Shouguang Kangyue Investment Co., Ltd., for approximately CNY 930 million on December 27, 2019. Shenzhen Shengshi Fenghua Enterprise Management Co., Ltd. signed an equity transfer agreement to acquire 29.9% stake in Kangyue Technology Co., Ltd. (SZSE:300391) from Shouguang Kangyue Investment Co., Ltd. on January 6, 2020. 1st installment of CNY 200 million will be paid within 15 days since signing of the agreement. The rest of the compensation will be paid within 10 days since completion of delivery of underlying equity. Shenzhen Shengshi Fenghua Enterprise Management shall acquire 104.75 million shares for CNY 8.8486 per share. As on December 27, 2019, shareholders of Shouguang Kangyue Investment Co., Ltd. approved the transaction and on January 5, 2020, shareholders of Shenzhen Shengshi Fenghua Enterprise Management Co., Ltd. approved the transaction. Shenzhen Shengshi Fenghua Enterprise Management Co., Ltd. cancelled the acquisition of 29.9% stake in Kangyue Technology Co., Ltd. (SZSE:300391) from Shouguang Kangyue Investment Co., Ltd., on January 6, 2021.