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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2020
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | 31. SUBSEQUENT EVENTS Capital injection from six investors In April 2021, the Group entered into an investment agreement with five legal entities and one natural individual pursuant to which, Jiaxing Shengshi Equity Investment Limited Partnership, Jinjiang Lingfu Jiazi Equity Investment Limitned Partnership, Jiaxing Lecheng Investment Limited Partnership, Gongqingcheng Jinhe Investment Limited Partnership, Hainan Qianyuan Jiamei Consultant Limited Partnership, Mr. Tian subscribed 18,805,826 shares of the Group’s subsidiary MHM in exchange for RMB400,000. The Group received the consideration in August 2021. Upon completion of all transactions mentioned above, the Group’s ownership in MHM will be diluted from 49.44% to 46.56%. Convertible bond issued to two investors In August 2021, the Company’s subsidiary, Ascendium Group Limited, issued convertible bonds of US$5,000 and US$10,000, which were subscribed by two external investors, Great Lion Global Limited and Vantage Chance Limited, respectively. The Company has received US$11,000 by the date of this report, and the remaining will be received before the end of October 2021.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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