Youngy Investment Holding Group Co.,Ltd. agreed to acquire 15% stake in Hefei Rong Jie Metal Technology Co., Ltd. from YOUNGY Co.,Ltd. (SZSE:002192) for CNY 73 million on November 1, 2019. Youngy Investment Holding Group Co.,Ltd. entered into an agreement to acquire 15% stake in Hefei Rong Jie Metal Technology Co., Ltd. from YOUNGY Co.,Ltd. (SZSE:002192) on November 7, 2019. Under the terms of the transaction, CNY 13 million will be paid within 15 working days after the contract takes effect, CNY 25 million will be paid before December 31, 2019, CNY15 million will be paid before March 31, 2020 and CNY 20 million will be paid before June 30, 2020. In a related transaction, Youngy Investment Holding Group Co.,Ltd. agreed to acquire 15% stake in Hefei Youngy Energy Materials Co., Ltd. from YOUNGY Co.,Ltd. (SZSE:002192) for CNY 26 million on November 1, 2019. For the year ending December 31, 2018, total revenue, total assets, operating loss, net loss, net assets of Hefei Rong Jie Metal Technology Co., Ltd. was approximately CNY 183.67 million, approximately CNY 373.1 million, approximately CNY 12.21 million, approximately CNY 9.21 million and approximately CNY 162.84 million respectively. The transaction is subjected to shareholders and board of directors approval of YOUNGY Co.,Ltd. As on October 31, 2019, board of directors of YOUNGY Co.,Ltd. has approved the deal. On November 11, 2019, the shareholders of YOUNGY approved the transaction. Youngy Investment Holding Group Co.,Ltd. cancelled the acquisition of 15% stake in Hefei Rong Jie Metal Technology Co., Ltd. from YOUNGY Co.,Ltd. (SZSE:002192) on May 7, 2020.