Orient Victory Travel Group Company Limited (SEHK:265) entered into a share transfer agreement to acquire Kinyoun International Limited from Lu Liqiang for HKD 24 million on August 6, 2021. Pursuant to the terms of the agreement, the consideration shall be paid in cash by Orient Victory Travel Group Company Limited to Lu Liqiang within ten business days after completion. The consideration will be financed by Orient Victory Travel Group Company Limited?s internal resources. Upon completion of the transaction, Kinyoun International Limited will become a wholly-owned subsidiary of Orient Victory Travel Group Company Limited. As at July 20, 2021, the consolidated net asset value of Kinyoun International Limited stood at approximately HKD 91 million. Completion of the transaction is subject to conditions, inter-alia, satisfaction of Orient Victory Travel Group Company Limited from the due diligence, regulatory approvals and third party consents. Completion of the transaction shall take place within three business days (or such other later date as agreed between the parties) upon the conditions precedent being satisfied, fulfilled and/or waived (as the case may be). Orient Victory Travel Group Company Limited (SEHK:265) completed the acquisition of Kinyoun International Limited from Lu Liqiang on August 9, 2021.