Kunshan Yinqiao Holding Group Co., Ltd. entered into an agreement to acquire Suzhou Xinguodu Electronic Technology Co., Ltd. from XGD Inc. (SZSE:300130) and Suzhou Junbao Investment Co., Ltd for approximately CNY 510 million on December 3, 2019. Under the terms, CNY 495.5 million will be paid to XGD and CNY 18.9 million will be paid to Suzhou Xinguodu as a part of the acquisition. Suzhou Xinguodu reported total assets worth CNY 603.3 million, net assets worth CNY 583.1 million, revenue worth CNY 29.4 million, operating profit worth CNY 5.9 million and net profit worth CNY 5.9 million. The transaction is subject to approval from shareholders of XGD Inc. The transaction has been approved by the Board of XGD Inc in the 38th meeting.