Guangxi Baise Rural Investment Co., Ltd. entered into an agreement to acquire 23.2% stake in HPF Co., Ltd. (SZSE:300350) from group of sellers for approximately CNY 930 million on May 5, 2019. Under the terms, Guangxi Baise Rural Investment Co., Ltd. will acquire 110.53 million shares at CNY 8.3906 per share. As per the transaction, Guangxi Baise Rural Investment Co., Ltd. will acquire 29.8 million shares (6.26%), 2.48 million shares (0.52%), 9.62 million shares (2.02%), 29 million shares (6.09%), 21.58 million shares (4.53%) and 16.69 million shares (3.5%) from Zhang Jingyu, Qi Changfeng, Zhang Qian, Zhuhai Anci Hulian No. 8 Equity Investment Fund (limited partnership), Zhuhai Anci Hulian No. 7 Equity Investment Fund (limited partnership) and Shenzhen Qianhai Hourunde Wealth Management Co., Ltd. respectively. Guangxi Baise Rural Investment Co., Ltd. will acquire 0.68 million shares (0.15%) each from Zhang Guangming and Zhang Chao. Post completion, Zhang Jingyu, Qi Changfeng, Zhang Qian and Shenzhen Qianhai Hourunde Wealth Management Co., Ltd. will hold 89.41 million shares (18.75%), 7.45 million shares (1.56%) and 28.85 million shares (6.05% shares) respectively while Zhang Guangming and Zhang Chao each will hold 2.03 million shares (0.42%). Shenzhen Qianhai Hourunde Wealth Management Co., Ltd. will hold 0.27% stake and Zhuhai Anci Hulian No. 8 Equity Investment Fund (limited partnership) and Zhuhai Anci Hulian No. 7 Equity Investment Fund (limited partnership) will have no stake in HPF Co., Ltd. Guangxi Baise Rural Investment Co., Ltd. cancelled the acquisition of 23.2% stake in HPF Co., Ltd. (SZSE:300350) from group of sellers on May 5, 2020.