Zhong Shiwei and Zhong Xiangrui signed Share Transfer Agreement to acquire Guangzhou eTrans Transportation from Jiangsu Xinning Modern for CNY 0.6 million on December 27, 2021. Zhong Shiwei will acquire 90% and Zhong Xiangrui 10% stake in Guangzhou eTrans Transportation. As of July 31, 2021, Guangzhou eTrans Transportation reported Total Assets of CNY 176.7 million and negative Net Assets of CNY 211.6 million.

As of September 23, 2021 Jiangsu Xinning Modern's board approved the deal and Jiangsu Xinning Modern's shareholders approved the transaction on October 11, 2021.