Sheung Yue Group Holdings Limited (SEHK:1633) entered into a memorandum of understanding to acquire an unknown stake in Mianyang Chiyuan Construction Limited from Chen Lei on October 14, 2020. The transaction have an exclusivity period of 60 days where Chen Lei will not discuss or enter into any agreement or understanding with any other party with respect to the disposal of the Mianyang Chiyuan Construction Limited or any of its business. Sheung Yue Group Holdings Limited is entitled to conduct due diligence review on the business, financial and legal affairs of Mianyang Chiyuan Construction Limited upon signing of the MOU.