Universal Technologies Holdings Limited (SEHK:1026) entered into an MOU to acquire Guangzhou Shunpeng Real Estate Co., Ltd. from Zeng Xiangyang and Tan Mian for CNY 700 million on December 23, 2022. The Proposed Acquisition is subject to, inter alia, the satisfactory results of the due diligence conducted by the Company on the Target Group, the completion of the Restructuring to carve out the Excluded Assets and the Excluded Liabilities, and the negotiation, finalization and signing of the Binding Agreement within the nine-months Exclusivity Period, during which the Vendors shall not, without the CompanyÆs consent, negotiate with any other potential investors in relation to the subject matter of the MOU.