Yuen Siu Fai entered into a share purchase agreement to acquire Shijiazhuang Enjian Bus Advertising Co. LTD from Inno-Tech Holdings Limited (SEHK:8202) for HKD 0.5 million on December 13, 2019. Yuen Siu Fai acquired 0.01 million share of Shijiazhuang Enjian Bus Advertising Co. LTD and the consideration was paid in cash. The intercompany loan of approximately HKD 2.5 million owed by Shijiazhuang Enjian Bus Advertising to the remaining group was waived upon completion. Upon completion, Shijiazhuang Enjian Bus Advertising Co. LTD ceased to be a subsidiary of Inno-Tech Holdings Limited. For the the year ended June 30, 2019, the revenue of Shijiazhuang Enjian Bus Advertising Co. LTD is HKD 4.2 million, net loss of HKD 2.8 million and net liabilities of HKD 37.8 million. The gross proceeds will be used for general working capital for the year ending June 30, 2020. Yuen Siu Fai completed the acquisition of Shijiazhuang Enjian Bus Advertising Co. LTD from Inno-Tech Holdings Limited (SEHK:8202) on December 13, 2019.