Changchun Ranran Trading Co., Ltd. agreed to acquire Zigong Automobile Sales Co., Ltd from Hengshui Dongsheng Automobile Trade Co. and Pang Da Automobile Trade Co., Ltd (SHSE:601258) for CNY 270 million on June 22, 2021. Within 3 working days after the signing of the contract, Changchun Ranran Trading Co., Ltd. shall pay Hengshui Dongsheng Automobile Trade and Pang Da Automobile Trade, a performance bond of CNY 10 million. The performance bond shall be part of the transfer payment and will not be refunded later. Within 10 working days after the signing of the contract, Changchun Ranran Trading shall pay the sellers the first equity transfer payment of CNY127.7 million. Zigong Automobile Sales had total asset CNY 2.7322 million as revenue and CNY 119.6717 million as total assets till May 2021. As of December 16, 2021, transaction is approved by the shareholders of Pang Da Automobile Trade Co., Ltd.