Sino Haijing Holdings Limited (SEHK:1106) entered into a memorandum of understanding to acquire Guangdong Meidexian Cailanzi Engineering Management Company Limited from Zhuang Zhongrui on January 14, 2019. The consideration of the Possible Acquisition is subject to further negotiation between the parties and will be determined when entering into the formal agreement. Sino Haijing Holdings Limited shall be entitled to conduct the due diligence on the assets, liabilities, operations and affairs of the Guangdong Meidexian Cailanzi Engineering Management Company Limited within 90 days from the date of the memorandum of understanding. The memorandum of understanding will be terminated if no formal agreement has been entered during 90 days from the date of the memorandum of understanding.