Ying Hai Group Holdings Company Limited (SEHK:8668) agreed to acquire 50% stake in Zhuhai Huanya International Tourism Co., Ltd. from Huang Zimin for CNY 0.78 million on August 24, 2021. In a related transaction, Ying Hai Group Holdings Company Limited shall acquire 50% stake in Zhuhai Huanya International Tourism Co., Ltd. from Cao Yongfeng for CNY 0.78 million. Upon completion of the Acquisition, Zhuhai Huanya International Tourism Co., Ltd. will become a wholly-owned subsidiary of Ying Hai Group Holdings Company Limited.

The transaction is subject to termination of employment agreement and regulatory approvals.