Zhou Peng entered into an agreement to acquire the remaining 60% stake in Shenzhen Xingtu Technology Co., Ltd. from Shenzhen Etmade Automatic Equipment Co., Ltd. (SZSE:300812) for CNY 6.6 million on October 28, 2020. Zhou Peng shall pay the first 30% equity transfer payment within 10 days of the signing of the equity transfer agreement; pay the second 30% equity transfer price before June 30, 2021; pay the third phase of 40% equity transfer payment before October 28, 2021. If the payment is overdue, for each day overdue, 0.12% (annualized interest rate of 4.35%) of the overdue equity transfer payment shall be paid to the Shenzhen Etmade Automatic Equipment Co., Ltd. as a liquidated damage until the payment is completed. As on November 2, 2020, Zhou Peng paid the first installment for 30% equity transfer of approximately CNY 2 million. Presently, Zhou Peng holds 40% stake in Shenzhen Xingtu Technology and post completion of the transfer will hold the entire 100% stake. As of June 29, 2021, Zhou Peng paid a second phase of 30% equity transfer price of CNY 1.96 million. For the year ending December 31, 2019, Shenzhen Xingtu Technology Co., Ltd. reported total assets of CNY 49.29 million, net assets of CNY 17.54 million, revenue of CNY 34.54 million, operating profit of CNY 1.66 million and net profit of CNY 1.59 million. On October 28, 2020, Shenzhen Etmade Automatic Equipment Co., Ltd. held the tenth meeting of the second board of directors and the seventh meeting of the second board of supervisors, at which the transaction was reviewed and approved.