Shanghai Aj Group Co.,Ltd (SHSE:600643) enteretd into Share Transfer Agreement acquire 10% stake in Huagui Life Insurance Company Limited from Tibet Ku Ai Communication Co., Ltd. for CNY 130 million on January 17, 2022. As of March 23, 2022, Shanghai Aj has paid the second transfer price to Kuai Communications on March 22, 2022. The equity transfer price of RMB 128 million involved in this transaction has been fully paid. The deal is subject to approval from Shanghai Aj Group Co.,Ltd (SHSE:600643) board and shareholders. As of January 17, 2022 Shanghai Aj Group Co.,Ltd (SHSE:600643) board approved the deal. The transaction is subject to China Banking and Insurance Regulatory Commission?s approval. As of December 31, 2021 Huagui Life Insurance Company Limited recorded the assets of CNY 7.4 billion, net assets of CNY 660 million, EBIT of CNY 1.2 billion and net profit of CNY 31 million.

Shanghai Aj Group Co.,Ltd (SHSE:600643) cancelled the acquisition of 10% stake in Huagui Life Insurance Company Limited from Tibet Ku Ai Communication Co., Ltd. on February 3, 2023. Up to now, it has been 12 months since the agreement came into effect, and the above-mentioned equity transfer has not yet been completed, so after friendly negotiation between the two parties, it was decided to terminate the agreement.