Guangzhou Hengmao Venture Capital Partnership (L.P.), managed by Shenzhen Qianhai Hengxing Asset Management Co., Ltd. agreed to agreed to acquire an additional 7.33% stake in Guangzhou Hangxin Aviation Technology Co., Ltd. (SZSE:300424) from Bu Fansheng and Huang Xin for approximately CNY 280 million on July 28, 2022. Under the terms, Guangzhou Hengmao Venture Capital Partnership will acquire 17,575,133 shares at a price of CNY 15.84 per share. The consideration of CNY 139.2 shall be paid on completion and the remaining amount to be settled against the loan that Bu Fansheng and Huang taken from Guangzhou Hengmao Venture Capital Partnership (L.P.), managed by Shenzhen Qianhai Hengxing Asset Management as part of Share Pledge Contract. After this transfer, Bu Fansheng will own 12,814,258 shares (5.34%) and Huang Xin will own 4,797,272 shares (2%) in Guangzhou Hangxin Aviation.