Changzhou 30qi Venture Capital Partnership (Limited Partnership), Changzhou Canxing Industrial Investment Fund Partnership (Limited Partnership), Jiangsu Grand Canal (Changzhou) Cultural Tourism Development Fund (Limited Partnership), Changzhou Jiujiu Venture Capital Partnership (Limited Partnership) and Changzhou Green Fengyungang Investment Center (Limited Partnership) agreed to acquire 51.4% stake in Jiangsu Chang'o Sports Development Co., Ltd. from Ningbo Fubang Jingye Group Co.,Ltd (SHSE:600768) for approximately CNY 130 million on April 5, 2021. Under the terms, Changzhou 30qi Venture Capital Partnership, Changzhou Canxing Industrial Investment Fund Partnership, Jiangsu Grand Canal (Changzhou) Cultural Tourism Development Fund, Changzhou Jiujiu Venture Capital Partnership and Changzhou Green Fengyungang Investment Center will pay CNY 39 million, CNY 25 million, CNY 25 million, CNY 20 million and CNY 20 million. The balance sheet items of Jiangsu Chang'o Sports Development as on October 31, 2020, total assets of CNY 108.5 million and net assets of CNY 78.61 million. The transaction is subject to approval of shareholders and is approved by the Board of Directors of Ningbo Fubang Jingye Group. As on April 22, 2021, Ningbo Fubang Jingye Group Co., Ltd shareholders approved the transaction. Changzhou 30qi Venture Capital Partnership (Limited Partnership), Changzhou Canxing Industrial Investment Fund Partnership (Limited Partnership), Jiangsu Grand Canal (Changzhou) Cultural Tourism Development Fund (Limited Partnership), Changzhou Jiujiu Venture Capital Partnership (Limited Partnership) and Changzhou Green Fengyungang Investment Center (Limited Partnership) completed the acquisition of 51.4% stake in Jiangsu Chang'o Sports Development Co., Ltd. from Ningbo Fubang Jingye Group Co.,Ltd (SHSE:600768) on May 12, 2021. As of May 7, 2021, Ningbo Fubang Jingye Group Co.,Ltd (SHSE:600768) received the full transfer payments of CNY 129 million.