Sichuan Jiuyuan Yinhai Software Co.,Ltd (SZSE:002777) agreed to acquire 20% stake in Chongqing Jiuyuan Yinhai Software Co., Ltd. (Chongqing Yinhai) from Xiao Chunyan for CNY 6 million on October 28, 2020. Under the terms of the transaction, within 30 days after this agreement takes effect, Sichuan Jiuyuan Yinhai Software Co.,Ltd will pay CNY 5.98 million to the account designated by Xiao Chunyan. Sichuan Jiuyuan Yinhai Software Co.,Ltd decided to use its own funds of CNY 5.98 million for the transaction. Post-closing, Sichuan Jiuyuan Yinhai Software Co.,Ltd plans to invest CNY 15 million in Chongqing Yinhai in cash, and the registered capital of Chongqing Yinhai will increase from the current CNY 5 million to CNY 20 million. As of June 30, 2020, Chongqing Yinhai had total assets of CNY 51.35 million and net assets of CNY 33.41 million. Sichuan Jiuyuan Yinhai Software Co.,Ltd reviewed and approved the transaction in the 25th meeting of the fourth Board of Directors on October 28, 2020. The transaction is not required to submit to the shareholders meeting for deliberation. Sichuan Jiuyuan Yinhai Software Co.,Ltd (SZSE:002777) completed the acquisition of 20% stake in Chongqing Jiuyuan Yinhai Software Co., Ltd. (Chongqing Yinhai) from Xiao Chunyan on December 23, 2020. Sichuan Jiuyuan Yinhai completed the relevant procedures for the registration of this equity acquisition and industrial and commercial change of industrial and commercial capital increase and obtained the business license renewed by the Chongqing Dadukou District Market Supervision Administration.