Zhongkai International Logistics Co., Ltd. agreed to acquire 70% stake in Qingdao Orbita Incubator Management Co., Ltd from Zhuhai Orbita Aerospace Science & Technology Co., Ltd. (SZSE:300053) for CNY 62.3 million on December 31, 2019. Under the terms of the transaction, 50% of the share transfer price is to be paid after the signed contract takes effect and 50% of the share transfer price is to be paid within 15 working days after target company’s completion of share change business registration. Post transaction, Zhuhai Orbita Aerospace Science & Technology will hold 30% stake in Qingdao Orbita Incubator Management. Qingdao Orbita Incubator Management had total assets of CNY 64.7 million and net assets of CNY 59.6 million as of September 30, 2019. Transaction does not need approval from Zhuhai Orbita Aerospace Science & Technology’s shareholders. Zhuhai Orbita Aerospace Science & Technology held its 4th directorate’s 31st meeting on March 8, 2020 and approved the transaction. Zhongkai International Logistics Co., Ltd. cancelled the acquisition of 70% stake in Qingdao Orbita Incubator Management Co., Ltd from Zhuhai Orbita Aerospace Science & Technology Co., Ltd. (SZSE:300053) on November 30, 2020, The transaction has been cancelled as the relevant amount has not been paid and due to strategic adjustments.