F8 Enterprises (Holdings) Group Limited (SEHK:8347) entered into an agreement to acquire 51% stake in Meijia Shell (Global) Lubricant Technology Limited from Zhu Yixiang and Li Weinian for CNY 16.4 million on March 23, 2020. Consideration will be paid through issuance of 78 million shares. The transaction is subject to F8 Enterprises having entrusted a Independent Valuer to verify and appraise the assets, liabilities, shareholding structure and value of the Target Group, being reasonably satisfied and accepting the results of the due diligence, the granting of the approval of the Stock Exchange for the issue of the listing of, and permission to deal in the consideration shares, there is no breach by sellers of its representations, warranties and undertakings given under the agreement, no order, injunction or decree shall have been entered and be in effect by any court of competent jurisdiction or any governmental or regulatory instrumentality or authority and no suit or other proceeding shall be pending or threatened by any third party before any court or governmental agency seeking to restrain or prohibit or declare illegal. The Directors of F8 Enterprises consider the commercial terms of the agreement fair and reasonable. The Completion shall take place on the tenth Business Day after the fulfilment of the last of the conditions precedent or such other day as the parties to the agreement may mutually agree in writing. As of December 31, 2019, Meijia Shell (Global) Lubricant Technology reported revenue of CNY 14.36 million, profit before tax of CNY 1.31 million and net profit after tax of CNY 1.31 million. F8 Enterprises (Holdings) Group Limited (SEHK:8347) completed the acquisition of 51% stake in Meijia Shell (Global) Lubricant Technology Limited from Zhu Yixiang and Li Weinian on April 21, 2020. All conditions precedent were fulfilled.