Guangzhou Xinxuan Investment Co., Ltd. signed an agreement to acquire 5% stake in Qibu Co.,Ltd. (SHSE:603557) from Hong Kong Qibu International Group Limited for approximately CNY 220 million on September 15, 2020. Under the terms, Guangzhou Xinxuan Investment will acquire 23.6 million shares for CNY 9.16 per each share and transfer consideration will not be paid later than November 20, 2020. Guangzhou Xinxuan Investment will pay to CNY 10 million as a performance bond to ensure smooth progress of the transaction within 3 days from signing of agreement.