Shenzhen Yuehua Enterprise Co., Ltd. agreed to acquire Shenzhen Jinbin Jinpeng Investment Development Co., Ltd from Tianjin Jinbin Development Co., Ltd. (SZSE:000897) for approximately CNY 120 million on January 16, 2020. Shenzhen Yuehua Enterprise Co., Ltd. already paid part of the initial installment of CNY 75 million. The extant CNY 38.7 million of the first installment will be paid within 5 days since entering into force of the relevant agreement. The remaining CNY 46.16 million will be directly remitted into the designated account of Tianjin Jinbin Development Co., Ltd. within 30 working days after the effective date of this contract, and will be paid according to the market loan quoted interest rate. Shenzhen Yuehua Enterprise Co., Ltd. has paid a guarantee of CNY 36.3 million.