U Man Iong entered into an sale purchase agreement to acquire 31.2% stake in Chongqing City Liangjiang New Area Li Hang Microfinance Co., Ltd. from Jun Yang Financial Holdings Limited (SEHK:397) for HKD 51 million on November 17, 2016. The deal will close on the 90th day after signing of agreement. Chongqing City Liangjiang had loss after tax of HKD 134.6 million for the year ended December 31, 2015. U Man Iong cancelled the acquisition of 31.2% stake in Chongqing City Liangjiang New Area Li Hang Microfinance Co., Ltd. from Jun Yang Financial Holdings Limited (SEHK:397) on November 17, 2017.