Shaanxi Jinye Science Technology and Education Group Co.,Ltd (SZSE:000812) signed a framework agreement to acquire 51% stake in Shanxi Daren International Education Exchange Co., Ltd. from Liu Yaoguo and Yi Chengyi on May 24, 2019. Shaanxi Jinye Science Technology and Education Group Co.,Ltd will pay consideration in cash. A guarantee of not more than CNY 120 million will be paid by Shaanxi Jinye Science Technology and Education Group Co.,Ltd within 5 days since opening of the respective shares account by Shaanxi Jinye Science Technology and Education Group Co.,Ltd and Liu Yaoguo. On June 26, 2019, Shaanxi Jinye Science Technology and Education completed the payment of the security deposit for the acquisition of 51% stake in Shanxi Daren. Shaanxi Jinye Science Technology and Education paid the security deposit of CNY 100 million. Said account should be open within 5 days since signing of the present framework agreement. Prior to the transaction, Liu Yaoguo holds 99% stake and Yi Chengyi holds 1% stake in Shanxi Daren International Education Exchange Co., Ltd. The transaction needs to be submitted to board of Directors and shareholders of Shaanxi Jinye Science Technology and Education Group Co.,Ltd for consideration. Shaanxi Jinye Science Technology and Education Group Co.,Ltd (SZSE:000812) cancelled acquisition of 51% stake in Shanxi Daren International Education Exchange Co., Ltd. from Liu Yaoguo and Yi Chengyi on May 24, 2020. As on October 31, 2021, Shaanxi Jinye Science Technology and Education Group Co.,Ltd, Liu Yaoguo, and Yi Chengyi signed Termination Agreement.