Shenzhen Youkangda Holdings Co., Ltd. signed an agreement to acquire Shenzhen Xinhe Construction Engineering Co., Ltd. from Shenzhen Qixin Group Co., Ltd. (SZSE:002781) and Shenzhen Xinghe Real Estate Development Co., Ltd. for CNY 30.5 million recently. Under the terms of the agreement, within five working days after all the following conditions are met Shenzhen Youkangda Holdings Co., Ltd. shall pay 60% of the equity transfer price CNY 9.3 million to the Shenzhen Qixin Group Co., Ltd. and CNY 8.9 million to Shenzhen Xinghe Real Estate Development Co., Ltd. Within two working days after the Shenzhen Youkangda Holdings Co., Ltd. has agreed to pay the first equity transfer price in accordance with article 3.2.1 of this agreement Shenzhen Qixin Group Co., Ltd. and Shenzhen Xinghe Real Estate Development Co., Ltd. shall cancel the bank account preparation authority shield, bank password payment device, and bank account opening license, Co-management of bank seal cards, CCB checks, and institutional credit code certificates, and transfer all the aforementioned information to the Shenzhen Youkangda Holdings Co., Ltd. Within 5 working days after all the following conditions are met, the Shenzhen Youkangda Holdings Co., Ltd. shall pay 40% of the equity transfer price CNY 6.2 million to Shenzhen Qixin Group Co., Ltd. and CNY 5.9 million to Shenzhen Xinghe Real Estate Development Co., Ltd. As part of the transaction, Shenzhen Youkangda Holdings Co., Ltd. acquire 51% stake from Shenzhen Qixin Group Co., Ltd. and 49% stake from Shenzhen Xinghe Real Estate Development Co., Ltd. in Shenzhen Xinhe Construction Engineering Co., Ltd. In the year ended December 31, 2019 Shenzhen Xinhe Construction Engineering Co., Ltd. reported total assets of CNY 36 million, operating revenue of CNY 0.4 million and net loss of CNY 1.1 million. Post completion Shenzhen Youkangda Holdings Co., Ltd. hold 100% stake in Shenzhen Xinhe Construction Engineering Co., Ltd. As of August 26, 2020 Shenzhen Youkangda Holdings Co., Ltd. acquired 51% stake from Shenzhen Qixin Group Co., Ltd.