Beijing Fubon Jidi Technology Development Co., Ltd. agreed to acquire Jiangsu Jiande Tower Co., Ltd. from Beijing Shuzhi Technology Co., Ltd. (SZSE:300038) for CNY 40 million on December 11, 2020. The specific payment time shall be agreed upon by both parties separately. The tentative agreement not agreed upon is as follows, when signing the equity transfer agreement, Beijing Fubon Jidi Technology Development shall pay 50% of the equity transfer payment. After Beijing Shuzhi Technology receives the first equity transfer payment, both parties shall complete the payment within 30 days. Changes in business registration. Within 12 months after the registration of the industrial and commercial change, Beijing Fubon Jidi Technology Development shall pay the remaining 25% of the transfer amount; within 24 months after the registration of the industrial and commercial change, Beijing Fubon Jidi Technology Development shall pay the remaining total amount of the transfer. After completion of the transaction, Beijing Shuzhi Technology will not hold any shares in Jiangsu Jiande Tower. Jiangsu Jiande Tower reported total assets of CNY 215.7 million and net assets of CNY 36.4 million as on July 30, 2020. The transaction was approved by Board of Beijing Shuzhi Technology Co., Ltd.