Xiamen Yi Yue Property Company Limited signed a share purchase agreement to acquire 19.69% stake in Holsin Engineering Consulting Group Co.,Ltd. (SHSE:603909) from Huang Hebin, Liu Dequan, Gao Weilin, Kang Mingxu, Liu Zhixun, Shen Zhixian, Guo Meifen and other 31 shareholders for approximately CNY 550 million on June 21, 2021. As per terms, Xiamen Yi Yue Property Company Limited shall acquire 39.5 million shares at CNY 16.53 per share. Xiamen Yi Yue Property Company Limited will finance the transaction with the Group?s internal resources. The transaction is subjected to terms and conditions of agreement. As of August 6, 2021, Xiamen Yi Yue Property Company Limited received the approval on the Acquisition from Xiamen State-owned Assets Supervision and Administration Commission (Xiamen State-owned Assets Supervision and Administration Commission). On the same day, Xiamen Yi Yue received the Concentration of Undertakings Anti-monopoly Review No Further Review Decision and the State Administration for Market Regulation decided no further review will be implemented. Xiamen Yi Yue Property Company Limited cancelled the acquisition of minority stake in Holsin Engineering Consulting Group Co.,Ltd. (SHSE:603909) from Juhui Shenzhen on August 10, 2021. Upon completion of the acquisition amended by the Termination Agreement, Yi Yue will hold 33 million Holsin Engineering Shares at the total consideration of approximately CNY 545.6 million, representing approximately 16.46%. As on October 19, 2021, Yi Yue entered into supplemental agreements with the Vendors except Juhui Shenzhen, pursuant to which it is agreed among the parties that one of the termination events under the Share Transfer Agreements shall be amended to the share transfer registration procedures cannot be completed by 31 December 2021 for reason other than the fault of either party, any one party shall have the rights to unilaterally terminate the agreement and the parties shall not bear each other?s liability for breach of contract, negligence in contracting or damages. Xi Chen Yuan Taizhe, Yang Huahui and Wang Haisang Yuan Han of China Industrial Securities Co.,Ltd. acted as financial advisor for Holsin Engineering Consulting Group. Xiamen Yi Yue Property Company Limited completed the acquisition of 16.46% stake in Holsin Engineering Consulting Group Co.,Ltd. (SHSE:603909) from Huang Hebin, Liu Dequan, Gao Weilin, Kang Mingxu, Liu Zhixun, Shen Zhixian, Guo Meifen and other 31 shareholders on November 22, 2021.