China Fortune Land Development Co., Ltd. (SHSE:600340) signed an agreement to acquire remaining 49% stake in Jiangmen Dingxing Park Construction Development Co., Ltd. from Huaneng Guicheng Trust Corp.,Ltd. for CNY 1.6 billion on June 4, 2018. Upon completion, China Fortune Land Development Co., Ltd. will hold 100% stake in Jiangmen Dingxing Park Construction Development Co., Ltd. As on March 31, 2018, Jiangmen Dingxing Park Construction Development Co., Ltd. had total assets of CNY 2.7 billion and net assets of CNY 2.2 billion. The transaction is not subject to approval from shareholders of China Fortune Land Development Co., Ltd. The transaction has been approved by the Board of China Fortune Land Development Co., Ltd.