Yin He Holdings Limited (SEHK:8260) entered into a memorandum of understanding to acquire Qingdao Jia Hua Insurance Agency Limited from Zhao Xiao Qing on July 23, 2019. Yin He and Zhao Xiao shall negotiate on the amount and payment terms of the consideration for acquisition, which will be stated in the formal agreement. The transaction is subject to due diligence. As of January 22, 2020 the transaction is postponed from January 30, 2020 to June 30, 2020. As of July 24, 2020, the transaction is postponed from 30 June 2020 to 31 December 2020. As of December 31, 2020, the exclusivity period for MOU has been extended to June 30, 2021. Euto Capital Partners Limited acted as financial adviser for Yin He Holding in the transaction. Yin He Holdings Limited (SEHK:8260) cancelled the acquisition of Qingdao Jia Hua Insurance Agency Limited from Zhao Xiao Qing on July 23, 2020.