Wisdom Sports Group (SEHK:1661) entered into a memorandum of understanding to acquire minority stake in Yuan Tong Global Financial Group Limited from LPD Investments Limited on March 25, 2020. Wisdom Sports Group entered into a sale and purchase agreement to acquire 49% stake in Yuan Tong Global Financial Group Limited from LPD Investments Limited for HKD 53.4 million on May 12, 2020. Wisdom Sports Group entered into a supplemental agreement to acquire 34% stake in Yuan Tong Global Financial Group Limited from LPD Investments Limited for HKD 37.1 million on February 26, 2021. Wisdom Sports Group shall pay 15% of the consideration, being HKD 8 million, as refundable down payment within five business day from the date of the agreement. As of February 26, 2021, HKD 29.1 million will shall be paid by Wisdom Sports Group after having deducted the down payment. The consideration will be funded by internal resources and/or available banking facilities. In 2019, Yuan Tong Global Financial Group Limited reported net profit before and after tax of HKD 13.8 million and net assets of HKD 2.5 million. The completion of the acquisition is subject to approval by regulatory authorities and due diligence investigation, among others. If the conditions have not been fulfilled on or before February 28, 2021, the agreement shall automatically terminate. The completion of the agreement will take place within five days after the date on which the conditions have been fulfilled or waived. Wisdom Sports Group (SEHK:1661) completed the acquisition of 34% stake in Yuan Tong Global Financial Group Limited from LPD Investments Limited on March 26, 2021. All the conditions set out in the supplemental agreement have been fulfilled.