GTI Holdings Limited (SEHK:3344) entered into a non-binding memorandum of understanding to acquire an unknown stake in Zhuhai Yuanwang Tangda Development Company Limited from Zhang Wen on March 26, 2020. Consideration will be subject to further negotiation between the parties to the memorandum of understanding and may be satisfied by the GTI Holdings Limited or its designated subsidiary by way of including but not limited to cash or promissory notes. The transaction is subject to due diligence and completion of fund raising exercise by GTI Holding for funding the acquisition. Consummation of the possible acquisition is subject to the execution and completion of the formal agreement. The parties shall proceed to the negotiation for a legally-binding formal agreement on or before the date falling 90 days from the date of the memorandum of understanding (or such later date as the parties thereto shall agree), failing which the memorandum of understanding shall lapse. GTI Holdings Limited (SEHK:3344) cancelled the acquisition of unknown stake in Zhuhai Yuanwang Tangda Development Company Limited from Zhang Wen on March 26, 2021.