Shandong Lucion Investment Holdings Group Co., Ltd entered into an equity transfer agreement to acquire a 45% stake in First-Trust Fund Management Co., Ltd from Shandong International Trust Co., Ltd. (SEHK:1697) for approximately CNH 130 million on December 14, 2020. Post completion, Shandong Lucion Investment Holdings Group Co., Ltd will no longer hold any equity interest in First-Trust Fund Management Co., Ltd. The transaction is subject to approval by regulatory board/committee and definitive agreement. As of August 31, 2020 First-Trust Fund Management Co., Ltd reported audited net assets of CNH 193.6 million.