Renaissance Silk Road (Tianjin) Business Management Company Limited and Renaissance Asia Silk Road Group Limited (SEHK:274) entered into share transfer agreement to acquire Renaissance (Tianjin) Financial Leasing Company Limited from Wang Peiyao, Cai Junhua, Li Zhongqing, Wang Yajuan and Reconstruction International Industrial Group Limited for $2 million on January 5, 2024. A part of consideration amount of approximately $1 million will be used to settle by repayment of a loan advanced by Renaissance (Tianjin) Financial Leasing Company Limited to the vendors. Upon completion, Renaissance (Tianjin) Financial Leasing Company Limited will become a wholly owned subsidiary of Renaissance Asia Silk Road Group Limited (SEHK:274). Renaissance (Tianjin) Financial Leasing Company Limited reported net asset value of approximately $1.9 million (CNY 14.1 million) as at September 30, 2023. The transaction is conditional upon vendors having issued the share certificate and new shareholder register of Renaissance (Tianjin) Financial Leasing to purchasers, vendors having completed the change of registration filing and vendors having delivered to the purchaser all documents, including the relevant licenses, seal impression, contracts and agreements, financial documents and account books and other items and documents relevant to Renaissance (Tianjin) Financial Leasing.

Renaissance Silk Road (Tianjin) Business Management Company Limited and Renaissance Asia Silk Road Group Limited (SEHK:274) cancelled the acquisition of Renaissance (Tianjin) Financial Leasing Company Limited from Wang Peiyao, Cai Junhua, Li Zhongqing, Wang Yajuan and Reconstruction International Industrial Group Limited on April 30, 2024.