Guangwei Holdings Limited signed a share transfer agreement to acquire 5% stake in Ningbo Cixing Co.,Ltd. (SZSE:300307) from Yuren Enterprise Co., Ltd. for approximately CNY 510 million on January 18, 2021. Under the terms of the transaction, Guangwei Holdings Limited will acquire 39.027 million shares at CNY 13 per share. Within 20 working days from the agreement effective date, Guangwei Holdings Limited will pay CNY 234 million and within six months after the completion of the share transfer will pay CNY 273.35215 million.