Yunnan Rongzhi Asset Management Co., Ltd. and Shanghai Xitong Enterprise management partnership (limited partnership) signed an equity transfer agreement to acquire 13.36% stake in Wingtech Technology Co., Ltd. (SHSE:600745) from Suzhou Join In Group Co., Ltd and Gao Jianrong for CNY 2.6 billion on December 19, 2017. Yunnan Rongzhi Asset Management Co., Ltd. and Shanghai Xitong Enterprise management partnership (limited partnership) will acquire the shares at CNY 30.5 per share. Tibet Join In Group Co., Ltd. will transfer 50 million shares of Wingtech Technology to to Yunnan Rongzhi Assets Management for CNY 1.5 billion. Payment for this will be done in two installments, a first installment of CNY 458 million will be done within 2 days since approval of the present transaction from the Shanghai Stock Exchange and the remaining will be paid within 3 days since the delivery of the underlying equity. Tibet Join In Group Co., Ltd. and Gao Jianrong will transfer 35 million shares to Shanghai Xitong Enterprise management partnership. Gao Jianrong will transfer 21 million shares for CNY 644 million and Tibet Join In Group Co., Ltd. will transfer 14 million shares for CNY 427 million. For this a first payment of CNY 535 million will be made by December 28, 2017 and a second payment of CNY 535 million has to be made by January 12, 2018. The transaction is subject to approval from the Shanghai Stock Exchange.