Sharing Economy International Inc. (OTCPK:SEII) entered into a share exchange agreement to acquire 68% stake in Jebe Production Group Limited from Fung Wang Chi on March 11, 2020. As full consideration Sharing Economy shall issue to the shareholders an aggregate of 2.7 million shares of Sharing Economy series A convertible preferred stock on a pro rata basis based upon their respective beneficial ownership interest in Jebe Production at the Closing. This transaction is subject to approval of federal and state securities laws relating to issuance of consideration shares and transfer of target shares by Fung Wang Chi, requisite regulatory approval, This transaction is expected to close on or before March 31, 2020.