On December 18, Man Wah Holdings and Style Sofa signed an equity transfer agreement. Man Wah Holdings acquired Style Sofa and officially became the controlling shareholder of Style Sofa. It is reported that there are more than 800 specialty stores in China, with annual sales of more than 1 billion yuan. This transaction will help to strengthen cooperation between the two parties in the sofa field, enhance Man Wah Holdings’ competitiveness in the market of fabric sofa and leisure sofa, accelerate the development of leisure sofa business and channel expansion.