Xi'an Qujiang Cultural Tourism Co., Ltd. (SHSE:600706) agreed to acquire 45% stake Wuxi Huipao Sports Co., Ltd. for CNY 56.3 million on April 21, 2021. Xi'an Qujiang Cultural Tourism Co., Ltd. will acquire 5 million shares. The transaction has been reviewed and approved at the second meeting of the ninth board of directors and the second meeting of the ninth board of supervisors, and independent directors have expressed their consent on the matter. Wuxi Huipao Sports reported revenue of CNY 52.8 million, total assets of CNY 50.8 million, net income of CNY 9 million and common equity of CNY 15.1 million for the year ending December 31, 2020.