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. Guangzhou Xinxuan Investment Co., Ltd. completed the acquisition of 5% stake in Qibu Co.,Ltd. (SHSE:603557) from Hong Kong Qibu International Group Limited on October 28, 2020. On July 16, 2021, Hong Kong Qibu International Group Limited had only received a deposit of CNY 10 million and the remaining CNY 206 million of equity transfer payment has not yet been received. Guangzhou Xinxuan Investment Co., Ltd. expects to pay within 3 months from July 16, 2021.