Shanghai Tunnel Engineering Co., Ltd. (SHSE:600820) signed the share transfer agreement to acquire Shanghai Urban Construction City Operation (Group) Co., Ltd. from Shanghai Urban Construction (Group) Corporation and others for approximately CNY 540 million on February 14, 2020. Shanghai Tunnel Engineering Co., Ltd. shall pay the said transaction amount within 15 working days from the day when the “Share transfer agreement” takes effect. Shanghai Urban Construction City Operation (Group) Co., Ltd. reported total assets of CNY 2.1 billion and total common equity of CNY 252.9 million for the period ended September 30, 2019. Shanghai Tunnel Engineering Co., Ltd. held its 9th directorate’s 8th meeting and approved the transaction. The transaction does not need approval from the shareholders of Shanghai Tunnel Engineering Co., Ltd. Shanghai Tunnel Engineering Co., Ltd. (SHSE:600820) cancelled the acquisition of Shanghai Urban Construction City Operation (Group) Co., Ltd. from Shanghai Urban Construction (Group) Corporation and others on February 14, 2021.