A group of investors signed an agreement to acquire an unknown stake in Anhui Kouzi Distillery Co., Ltd from Jiangsu Tiandilong Industrial Co., Ltd for approximately CNY 280 million on March 11, 2015. The group of investors includes Xu Jin, Liu Ansheng, Anhui Huanghai Commerce and Trade Co., Ltd., Huang Shaogang, Huaibei Shunda Commerce and Trade Co., Ltd., Zhu Chengyin, Fan Bo, Sun Pengdong, Xu Qinxiang, Zhou Tuliang, Duan Lian, Feng Benlian, Tao Pinlian, Mo Changxing, Lai Huaiwei, Liu Yueying, Zhao Jie, Zuo Peili, Zhong Jihua, Huang Haifeng, Sun Guang, Zhang Xiaofeng, Nie Jihui, Xu Jun, Liu Xinchun, Zhang Guoqiang, Zhang Weijun, Zhu Yonggui, Liang Changjun, Fan Shengli and Shu Qingrui. Jiangsu Tiandilong Industrial Co., Ltd will sell 40.37 million shares at the price of CNY 6.91 per share.

Bureau of Commerce of Anhui Province issued approval on shareholder changes in Anhui Kouzi Distillery and issued the approval certificate for foreign invested enterprises on April 16, 2015.

A group of investors completed the acquisition of an unknown stake in Anhui Kouzi Distillery Co., Ltd from Jiangsu Tiandilong Industrial Co., Ltd on April 16, 2015. On April 17, 2015, the stake transfer payment has been fully paid.