Jiangsu Guixing Machinery Equipment Leasing Co., Ltd. agreed to acquire Zhejiang Shenhua New Ecological Construction Development Co., Ltd. from Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) for CNY 62.5 million on December 4, 2019. 51% of the consideration will be paid within 3 days since signing of the agreement. The rest of the compensation will be paid before March 31, 2020. The Board of Directors of Shenzhen Ecobeauty Co., Ltd. approved the transaction. The deal does not require approval from shareholders. Jiangsu Guixing Machinery Equipment Leasing Co., Ltd. completed the acquisition of Zhejiang Shenhua New Ecological Construction Development Co., Ltd. from Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) on December 16, 2019. After the completion of the industrial and commercial change registration, Shenzhen Ecobeauty no longer holds Zhejiang Shenhua New Ecological Construction Development Co., Ltd.’s equity.