AiXin Life International, Inc. (OTCPK:AIXN) agreed to acquire Yunnan Runcansheng Technology Co., Ltd from Yunnan Sheng Shengyuan Technology Co., Ltd and Chen Yun for CNY 45 million on July 19, 2022. Yunnan Sheng Shengyuan Technology will sell 95% stake and Chen Yun will sell 5% stake in Yunnan Runcansheng Technology. Under the terms of agreement, AiXin Life International will pay CNY 5 million to Yunnan Runcansheng Technology as advance which is refundable under certain conditions as provided in the transfer agreement and CNY 15 million deposited in to Yunnan Runcansheng Technology which is controlled by AiXin Life International which is not to be used by us until completion of the registration of the transfer of the equity of Yunnan Runcansheng to us in accordance with applicable regulations or the termination of the transfer agreement by either AiXin Life International or Yunnan Sheng Shengyuan Technology and Chen Yun. AiXin Life International will enter into a five year consulting agreement with Chen Yun, one of the owners and a manager of Yunnan Runcansheng.

AiXin Life International, Inc. (OTCPK:AIXN) completed the acquisition of Yunnan Runcansheng Technology Co., Ltd from Yunnan Sheng Shengyuan Technology Co., Ltd and Chen Yun effective on September 30, 2022.