Quanzhou Huixin Micro-Credit Co., Ltd. (SEHK:1577) agreed to acquire a 5% stake in Jinjiang Huixin Microfinance Co., Ltd from Xie Anju for CNY 11.1 million on October 19, 2021. Quanzhou Huixin pay cash within 3 business days after the date of this agreement and shall be returned without interest by Xie Anju to the Quanzhou Huixin if the registration of approval of the Bureau of Financial Affairs of Quanzhou City cannot be completed on or before 18 April 2022. The aggregate consideration will be funded principally by internal resources of Quanzhou Huixin. The Share Purchase Agreement is conditional upon the necessary consents being obtained from the Bureau of Financial Affairs of Quanzhou City. The turnover of Jinjiang Huixin Microfinance for the year ended 31st December 2020 was approximately CNY 38,182,232. The total asset value of Jinjiang Huixin Microfinance as at 31st December 2020 was CNY 245,906,925. The Profit after taxation of Jinjiang Huixin Microfinance for the years ended 31st December 2020 was CNY 22,526,842.The Share Purchase Agreement shall become effective upon fulfillment of the condition precedent and shall be deemed to be completed upon completion of the registration and other relevant PRC regulatory filings in relation to the corresponding changes of equity holders.