Shenzhen Gaopu Industrial Co., Ltd. signed an equity transfer agreement to acquire 30% stake in Shenzhen Shenguorong Financing Guarantee Co., Ltd. from Guangdong Jadiete Holdings Group Company Limited (SZSE:200168) for CNY 150 million on November 30, 2018. As per the terms, Payment will be done in 5 installments. A first installment of 10% of the transactional price payable within 5 days since signing of the agreement, a first installment of 40% of the transactional price payable within 30 days since signing of the agreement, a first installment of 20% of the transactional price payable within 70 days since signing of the agreement, a first installment of 20% of the transactional price payable within 110 days since signing of the agreement and a first installment of 10% of the transactional price payable within 5 days since completion of delivery of underlying equity. As of December 31, 2017, Shenzhen Shenguorong Financing reported total assets of CNY 500 million, net assets of CNY 500 million and operating loss of CNY 25.85. The transaction was approved by the 22nd meeting of the 7th directorate of Guangdong Jadiete Holdings. On December 14, 2018 and December 17, 2018, Shenzhen Gaopu Industrial Co., Ltd. paid CNY 60 million out of total consideration. As of December 18, 2018, Shenzhen Gaopu Industrial Co., Ltd. has paid CNY 75 million out of total consideration. As of 30 June 2019, CNY 75 million for equity transfer has been received. Shenzhen Gaopu Industrial Co., Ltd. cancelled the acquisition of 30% stake in Shenzhen Shenguorong Financing Guarantee Co., Ltd. from Guangdong Jadiete Holdings Group Company Limited (SZSE:200168) on November 30, 2019.