Jieyang Zhongcui Real Estate Development Co., Ltd. intends to acquire 95.95% stake in Shantou Yihua Furniture Co., Ltd. from Yihua Lifestyle Technology Co.,Ltd (SHSE:600978) for CNY 320 million on October 19, 2020. In June 30, 2020, Shantou Yihua Furniture reported a total assets of CNY 256 million, total common equity of CNY 199 million, total revenues of CNY 61.3 million and negative net income of CNY 6.1 million. The transaction was approved by the Board of Directors of Yihua Lifestyle Technology.