Jiangsu Feiliks International Logistics Inc. (SZSE:300240) signed an agreement to acquire remaining 5% stake in Changzhou Rongda Modern Logistics Co., Ltd from Jiangsu Xinning Modern Logistics Co.,Ltd (SZSE:300013) for CNY 5 million on November 11, 2020. As per terms of transaction, Jiangsu Feiliks International Logistics Inc. will make payment of 50% consideration with in seven days of effective date of agreement and remaining 50% consideration will be paid within seven days of completion. Post completion, Jiangsu Feiliks International Logistics Inc. will own 100% stake in Changzhou Rongda Modern Logistics Co., Ltd. As on October 30, 2020, Changzhou Rongda Modern Logistics Co., Ltd reported total assets of CNY 184.667500 million and total owner's equity of CNY 52.296500 million.

As on November 12, 2020, The Board of Jiangsu Feiliks International Logistics Inc. approved the transaction.