Shanghai HYP-ARCH Architectural Design Consultant Co.,Ltd. (SZSE:301024) agreed to acquire Shanghai Xi?ai Muxi Architectural Design Co., Ltd from Chen Lixian and Chen Ouxiang on August 13, 2021. Consideration paid for the acquisition of Shanghai Xi?ai Muxi Architectural Design Co., Ltd and Shanhai Lixiang Architectural Design Office (General Partnership) is CNY 46.7 million. As per terms of transaction, of the "Equity Purchase Agreement", as of the date of this announcement, the Shanghai HYP-ARCH Architectural Design Consultant Co.,Ltd. has paid the first phase of the cash consideration of CNY 9.340 million to the counterparty. The remaining 80% of the equity consideration will be paid with over-raised funds Post completion, Shanghai Xi?ai Muxi Architectural Design Co., Ltd will become wholly owned subsidiary of Shanghai HYP-ARCH Architectural Design Consultant Co.,Ltd. Consideration will be paid from the CNY 37.36 million, part of the Super-raised Funds. Transaction is approved by the board and shareholder of Shanghai HYP-ARCH Architectural Design Consultant Co.,Ltd.