Zhang Chuan signed an agreement to acquire 100% stake in Ming Fung Garment Manufacturing (Shenzhen) Co., Ltd From Moiselle International Holdings Limited (SEHK:130) for CNY 20 million on May 15, 2023. The transaction is subject to due diligence on the financial, corporate, taxation and trading positions of Ming Fung, the resignation of the officers of Ming Fung, the board and shareholders approval of Ming Fung, all necessary authorizations, consents, licenses, agreements, approvals or permissions of any kind of, from or by third parties and/or government or regulatory authorities required for the parties for execution and performance of the agreement, the representations, warranties and/or undertakings given by the respective party under the agreement remaining true, accurate and not misleading and no material adverse change in the principal business, operations, properties, conditions of Ming Fung to have been taken place. As of July 26, 2023, the shareholders of Moiselle have approved the deal.