Guangzhou State Assets Industry Development M&A Fund Partnership (LP). signed Share Transfer Agreement to acquire 5% stake in JSTI Group (SZSE:300284) from Fu Guanhua and Wang Junhua for approximately CNY 430 million on August 21, 2020. As per terms of transaction, Guangzhou M&A Fund shall pay CNY 40 million of the share transfer money to the joint account as deposit. Within fifteen working days after all the terms of this agreement become effective, Guangzhou M&A Fund shall pay the remaining amount of the share transfer amount minus the aforementioned CNY 40 million deposit to the co-managed account. Guangzhou State Assets Industry Development M&A Fund Partnership (LP) will acquire 48.6 million shares of JSTI Group for CNY 8.82 each share. Guangzhou State Assets Industry Development M&A Fund Partnership will acquire 29.1 million shares of the JSTI Group accounting for 3% of the JSTI Group total shares from Fu Guanhua and 19.4 million shares of the JSTI Group accounting for 2% of the JSTI Group total shares from Wang Junhua. As on January 5, 2021, Guangzhou State-owned Assets Supervision and Administration Commission approved the transaction.