Beijing Tourism Group Co., Ltd. signed an agreement to acquire the additional 20.03% stake in Beijing Capital Retailing Group Co., Ltd. (SHSE:600723) from Beijing Xidan Friendship Group Co.,Ltd for nil consideration on November 14, 2018. Under the terms, Beijing Tourism Group Co., Ltd. will acquire 131.9 million shares. Upon completion, Beijing Tourism Group Co., Ltd. will own 380.7 million shares, representing 57.82% stake in Beijing Capital Retailing Group Co., Ltd. The transaction is subject to approval from China Securities Regulatory Commission. On December 28, 2018, the transaction was approved by China Securities Regulatory Commission.