Dongguan Development (Holdings) Co., Ltd. (SZSE:000828) agreed to acquire 35% stake in Dongguan Xinzhao Investment Co., Ltd. from Guangdong Hongfa Investment Group Co., Ltd. and Jian Jianhui for CNY 770 million on August 8, 2023. Transaction has already received approvals from Dongguan Development (Holdings) Co., Ltd.'s board of director's and shareholders.