Shandong Hiking International Co.,Ltd (SHSE:600735) acquired 10% stake in Shanghai Lizhi Industrial Co., Ltd from Yongxin County Liyi Enterprise Management Center (Limited Partnership) for CNY 35 million on January 7, 2021. Shandong Hiking International Co.,Ltd (SHSE:600735) will pay the first-phase equity transfer price of CNY 17.5 million within 15 days after the Equity Transfer Agreement takes effect, and pay the second phase of equity transfer price of CNY 1.75 million within 10 days after the completion of the target equity delivery. For the period ended December 31, 2019, Shanghai Lizhi Industrial Co., Ltd reported total assets of CNY 176.8 million, net assets of CNY 45.09 million, revenues of CNY 223.2 million and net profit of CNY 11.6 million. For the period ended September 30, 2020, Shanghai Lizhi Industrial Co., Ltd reported total assets of CNY 330.2 million, net assets of CNY 64.6 million, revenues of CNY 345.1 million and net profit of CNY 29.4 million. The transaction is subject to The shareholders approval of Shanghai Lizhi Industrial Co., Ltd, Shanghai Lizhi Industrial Co., Ltd waived the right of first refusal and Acquirer board approval. Shandong Hiking International Co.,Ltd (SHSE:600735) held the fifteenth meeting of the twelfth session of the board of directors and the transaction was reviewed and approved. Shandong Hiking International Co.,Ltd (SHSE:600735) completed the 10% stake in Shanghai Lizhi Industrial Co., Ltd from Yongxin County Liyi Enterprise Management Center (Limited Partnership) for CNY 35 million on January 7, 2021