Beijing Shuzhi Technology Co., Ltd. (SZSE:300038) signed an equity transfer agreement to acquire Shanghai Pinshu Technology Co., Ltd. from Ningbo Meishan Bonded Port Area Pinmo Investment Management Partnership (Limited Partnership), Ningbo Meishan Bonded Port Area Shiqian Investment Management Partnership (Limited Partnership), Li Mengjie and Sun Guocheng for approximately CNY 120 million on August 7, 2019. The sellers will sell 42%, 18%, 20% and 20% stakes respectively. The consideration will be paid after closing and in installments. For the period ended December 31, 2018, Shanghai Pinshu Technology Co., Ltd. reported total revenues of CNY 137.8 million total assets of CNY 99.8 million, net income of CNY 9.6 million and net assets of CNY 22.3 million. The Board of Directors of Beijing Shuzhi Technology Co., Ltd. approved the deal on August 7, 2019. There is no need for approval from the shareholders’ meeting. Beijing Shuzhi Technology Co., Ltd. (SZSE:300038) cancelled the acquisition of Shanghai Pinshu Technology Co., Ltd. from Ningbo Meishan Bonded Port Area Pinmo Investment Management Partnership (Limited Partnership), Ningbo Meishan Bonded Port Area Shiqian Investment Management Partnership (Limited Partnership), Li Mengjie and Sun Guocheng on December 11, 2020.