Peak Equity International Limited entered into an agreement to acquire Sharing Economy International Inc. (OTCPK:SEII) in a reverse merger transaction on December 27, 2019. Under the terms and conditions of the share exchange agreement, Sharing Economy International Inc. offered, sold and issued 7.2 billion shares of common stock in exchange for all the issued and outstanding ordinary shares of Peak Equity International Limited. On December 27, 2019, Sharing Economy International Inc. issued 181.6 million shares of common stock to Peak Equity International Limited shareholder on a pro rata basis, based on their respective interests holdings. As a result, Peak Equity International Limited ordinary shareholders now hold approximately 90.8% of the issued and outstanding shares of common stock of Sharing Economy International Inc. As a result of transaction, Peak Equity International Limited's business is now the primary business of Sharing Economy International Inc. None of Sharing Economy International Inc.'s officers or directors have resigned in connection with the transaction. The transaction requires that Sharing Economy International Inc. shall have obtained an opinion stating that the terms of the exchange are fair, just and equitable to Sharing Economy International Inc. and its shareholders, Sharing Economy International Inc. shall have received a written resignation from each of the directors and officers of Peak Equity International Limited effective as of the closing, among others.

Peak Equity International Limited completed the acquisition of Sharing Economy International Inc. (OTCPK:SEII) in a reverse merger transaction on December 27, 2019.