Lakala Payment Corporation (SZSE:300773) agreed to acquire Guangzhou Zhongying Weirong Technology Co., Ltd. from Tibet Kaola Jinke Network Technology Services Co., Ltd. for CNY 1.9 billion on April 9, 2020. As part of the transaction, Lakala Payment Corporation will be paying 30% of the consideration within 10 working days after its board of directors approves the acquisition, 50% within 10 working days after its general meeting approves the acquisition, and the remaining balance within 10 working days after the completion of the acquisition. In a related transaction, Lakala Payment Corporation (SZSE:300773) agreed to acquire Shenzhen Zhongying Weirong Technology Co., Ltd. from Tibet Kaola Science & Technology Development Co., Ltd., Tibet Liantou Qihui Enterprise Management Limited, Tibet Nashun Network Technology Partnership and Sun Taoran for approximately CNY 210 million on April 9, 2020. In 2019, Guangzhou Zhongying Weirong Technology Co., Ltd. reported a net profit tax of CNY 96.79 million, total assets of CNY 3.64 billion, net assets of CNY 1.91 billion, revenues of CNY 819.26 million and operating profit of CNY 114.09 million. The transaction is subject to the closing conditions agreed in a separate transaction being fulfilled.