Foshan Nanhai financial high tech Zone Investment Holding Co., Ltd. signed the share transfer framework intent agreement to acquire 9% stake in Foshan Haisheng Financial Leasing Company Limited from Guangzhou Kingteller Technology Co.,Ltd. (SZSE:002177) for CNY 306 million on May 30, 2022. Guangzhou Kingteller Technology will sell 180 million shares in Foshan Haisheng Financial Leasing Company. Foshan Haisheng Financial Leasing Company has reported total assets of CNY 24966.9996 million, revenue of CNY 767.5095 million and net profit of CNY 336.5178 million on December 31, 2021.The transaction is subject to approval of merger agreement by Guangzhou Kingteller Technology Co.,Ltd board. On August 25, 2022 Guangzhou Kingteller Technology Co.,Ltd. board of directors approved the deal. As on November 25, 2022, the transaction is approved by China Banking and Insurance Regulatory Commission Guangdong Supervision Bureau. As on December 5, 2022, Foshan Nanhai financial high tech Zone Investment and Guangzhou Kingteller Technology has signed a transfer agreement for 9% shares of Foshan Haisheng Financial Leasing Company. Guangzhou Kingteller Technology has received first installment payment of CNY 168.30 million from Foshan Nanhai financial high tech Zone Investment first installment payment of CNY 168.30 million from Foshan Nanhai financial high tech Zone Investment still needs to pay the remaining share transfer payment in accordance with the "Share Transfer Agreement". The transaction has obtained all necessary authorizations and approvals required by laws and regulations.


Minsheng Securities Co.,ltd. acted as financial advisor and King & Wood Mallesons, China acted legal advisor to Guangzhou Kingteller Technology Co.,Ltd.