Chen Xintao signed share transfer agreement to acquire 5% stake in AVIT Ltd. (SZSE:300264) from Chen Kunjiang and Qiu Jiafen for CNY 64.7 million on June 12, 2024. A cash consideration valued at CNY 3 per share will be paid by Chen Xintao for 21,550,000 shares. Chen Xintao will pay an earnout/contingent payment of CNY 16.15 million cash.

The transaction require compliance confirmation from the Shenzhen Stock Exchange before the share transfer registration procedures can be processed at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.