Renaissance Silk Road (Tianjin) Business Management Company Limited and Renaissance Asia Silk Road Group Limited (SEHK:274) agreed to acquire Renaissance (Tianjin) Financial Leasing Company Limited from Wang Peiyao, Cai Junhua, Li Zhongqing, Wang Yajuan and Reconstruction International Industrial Group Limited for $2 million on January 5, 2024. A part of consideration amount of approximately $1 million will be used to settle by repayment of a loan advanced by Renaissance (Tianjin) Financial Leasing Company Limited to the vendors. Renaissance (Tianjin) Financial Leasing Company Limited reported net asset value of approximately $1.9 million (CNY 14.1 million) as at September 30, 2023.