Suzhou Sushi Testing Group Co.,Ltd. (SZSE:300416) signed an equity transfer agreement to acquire Yite (Shanghai) Testing Technology Co., Ltd. from Integrated Service Technology, Inc. (GTSM:3289) for CNY 280 million on September 27, 2019. The consideration will be paid in 2 installments: 1. Within seven business days after the first payment precondition is satisfied, the transferee shall pay 90% of the equity transfer amount to the transferor, CNY 252 million. 2. Within seven business days after the second payment precondition is satisfied, the transferee shall pay the transferor 10% of the equity transfer, CNY 28 million.

As of December 31, 2018, Yite (Shanghai) Testing Technology Co., Ltd. reported total assets of CNY 399.05 million, total common equity of CNY 212.42 million, EBIT of CNY 13.38 million and net income of CNY 12.48 million. The transaction is subject to approval from shareholders of Suzhou Sushi Testing Group Co.,Ltd. The transaction is approved by Board of Directors of Suzhou Sushi Testing Group Co.,Ltd.