Guangzhou Finance Holdings Group Co., Ltd entered into preliminary intent agreement to acquire Guangzhou Zhongda (Holding) Co., Ltd. from Da An Gene Co., Ltd. of Sun Yat-Sen University (SZSE:002030) on October 11, 2019. On December 31, 2019, Guangzhou Finance Holding Group and Da An Gene Co., Ltd. of Sun Yat-Sen University signed the framework agreement for the State-owned Property Rights Free Transfer. On June 30, 2020, Guangzhou Finance Holding Group and Da An Gene Co., Ltd. of Sun Yat-Sen University signed the State-owned Property Rights Free Transfer Agreement. On November 18, 2019, the Ministry of Education issued the reply of the Ministry of Education on the approval of the transfer of Da An Gene Co., Ltd. of Sun Yat-Sen University-owned Enterprises and agreed that Da An Gene Co., Ltd. of Sun Yat-Sen University would transfer Zhongda Holdings, including 24 School-run enterprises, to Guangzhou Finance Holdings Group Co., Ltd in a free transfer of state owned assets. On April 24, 2020, the Guangzhou State-owned Assets Supervision and Administration Commission issued a response on the Relevant Matters Regarding the Acceptance of Equity by Guangzhou Finance Holding's Subsidiary Enterprises and agreed that Guangzhou Finance Holding Group will receive the free transfer from Da An Gene Co., Ltd. of Sun Yat-Sen University Related company equity (including 16.63% equity of Da An Gene Co., Ltd. of Da An Gene Co., Ltd. of Sun Yat-Sen University). On April 29, 2020, the Board of Directors of Guangzhou Finance Holding Group reviewed and approved this equity transfer. On November 6, 2020, Da An Gene Co., Ltd. of Da An Gene Co., Ltd. of Sun Yat-Sen University received “Decision on No Implementation of Further Review on Business Concentration Anti-monopoly” issued by the State Administration for Market Regulation. Guangzhou Finance Holdings Group Co., Ltd completed the acquisition of Guangzhou Zhongda (Holding) Co., Ltd. from Da An Gene Co., Ltd. of Sun Yat-Sen University (SZSE:002030) on November 9, 2020.