Zhang Xiaoshuang signed a share transfer agreement to acquire 5% stake in Qibu Co.,Ltd. (SHSE:603557) from Hong Kong Qibu International Group LImited on September 15, 2020. Under the terms of the transaction, Zhang Xiaoshuang will acquire 23.6 million shares in Qibu from Hong Kong Qibu International Group LImited. In a related transaction, 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. Post-closing, Zhang Xiaoshuang and Hong Kong Qibu International Group LImited will each hold 5% stake in Qibu Co.,Ltd. Zhang Xiaoshuang completed the acquisition 5% stake in Qibu Co.,Ltd. (SHSE:603557) from Hong Kong Qibu International Group LImited for approximately CNY 220 million on October 28, 2020. On October 28, 2020, the "Confirmation of Transfer Registration" issued by China Securities Depository and Clearing Co., Ltd., and completion of the transfer registration procedures for the aforementioned shares. On November 20, 2020, Zhang Xiaoshuang's remaining equity transfer payment of CNY 206 million was expected to be paid no later than April 16, 2021. On April 16, 2021, Hong Kong Qibu International Group LImited had only received a deposit of CNY 10 million from Zhang Xiaoshuang on September 18, 2020, and the remaining CNY 206 million of equity transfer payment has not yet been received. As the relevant shareholders are still raising funds, they have not yet paid the remaining equity transfer payment. After friendly negotiation between the two parties in the, Zhang Xiaoshuang expects to pay within 3 months from April 16, 2021.