Shanghai Golden Union Business Management Co., Ltd. (SHSE:603682) agreed to acquire 31.304% stake in Tongchang Shengye (Beijing) Technology Development Co., Ltd. from Shanghai Nacong Construction Technology Partnership (Limited Partnership) and Shanghai Hongji Construction Technology Partnership (Limited Partnership) for CNY 60 million on September 24, 2021. Within 5 working days after Tianrun Xincheng and Urban New Space have pledged their 20.869% equity in Tongchang Shengye (Beijing) Technology Development to Shanghai Golden Union Business Management, Shanghai Golden Union Business Management will pay the first installment of equity transfer to Nacong Technology and Hongji Technology for a total of CNY 12.347553 million ( 20% of the equity transfer amount). Payment of the second installment will be within 5 working days after the delivery date, Shanghai Golden Union Business Management will pay the second phase of equity transfer payment to Nacong Technology and Hongji Technology, totaling CNY 30.868882 million (50% of the equity transfer payment). Payment of the third installment will be within five working days after the opening day of the project under construction and the actual occupancy rate of the project under construction reaches 80%, Shanghai Golden Union Business Management will pay the third phase of equity transfer payment to Nacong Technology and Hongji Technology for a total of CNY 18.521329 million (equity transfer payment) 30%). The transaction has been approved by board of Shanghai Golden Union Business Management Co., Ltd.