Xinjiang Zhongtai (Group) Co.,Ltd entered into a transfer framework agreement to acquire 29% stake in Shandong Delisi Food Co., Ltd. (SZSE:002330) from Zhucheng Tongluren Investment Co., Ltd. for approximately CNY 990 million on November 8, 2019. Under the terms of the transaction, Xinjiang Zhongtai will acquire 145.58 million shares at CNY 6.83 per share. On December 15, 2019, the supplement to the framework agreement was signed. As per the agreement, the CNY 400 million share transfer security paid by Xinjiang Zhongtai will be automatically be converted into the first share transfer payment. Within 10 working days of the completion of the renewal of the Directors, supervisors and senior management personnel of the company in accordance with the supplementary agreement and the completion of the registration of industrial and commercial changes, Xinjiang Zhongtai shall transfer the second share transfer of CNY 250 million and pay to Zhucheng Tongluren's designated bank account. The remaining single share transfer payment shall be paid by Xinjiang Zhongtai to the bank account designated by Zhucheng Tongluren within 10 working days from the date on which delis and its subsidiaries complete the property right certificate or have completed the specification. The transaction is subject to due diligence. Xinjiang Zhongtai (Group) Co.,Ltd cancelled the transfer framework agreement to acquire 29% stake in Shandong Delisi Food Co., Ltd. (SZSE:002330) from Zhucheng Tongluren Investment Co., Ltd. on July 10, 2020. A document issued by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) of Xinjiang Autonomous Region, the share transfer was not approved by the SASAC of Xinjiang Autonomous Region.