Yuan Zhongxue signed a share transfer agreement to acquire 5.40% stake in Sailun Group Co., Ltd. from Du Yudai for approximately CNY 710 million on November 4, 2020. The consideration shall be paid in two installments, first installment of CNY 400 million within five working days after this agreement is signed and second installment of CNY 312 million, Within 5 working days after the relevant conditions are met. Currently, Du Yudai held 9.54% stake in Sailun Group Co., Ltd. and Yuan Zhongxue holds 2.48% stake. Post completion, Yuan Zhongxue will directly hold 7.49% stake and Du Yudai will hold 4.21% stake in Sailun Group Co., Ltd. Yuan Zhongxue completed the acquisition of 5.40% stake in Sailun Group Co., Ltd. from Du Yudai on November 23, 2020.