Chongqing Taiheng Enterprise Management Consulting Co., Ltd. signed an agreement to acquire 59.42% stake in Chengdu Xinhengsheng Real Estate Development Co., Ltd. from Chongqing Taiji Industry(Group) Co.,Ltd (SHSE:600129) for approximately CNY 520 million on September 28, 2020. Within 120 working days after the agreement signing, the consideration will be paid. In a related transaction, Chongqing Taiheng Enterprise Management Consulting Co., Ltd. signed an agreement to acquire 35.58% stake in Chengdu Xinhengsheng Real Estate Development Co., Ltd. from Taiji Group Chongqing Fuling Pharmaceutical Co., Ltd for approximately CNY 330 million on September 29, 2020. Transaction has been approved by Board of Directors of Chongqing Taiji and is subject to the shareholders’ approval of Chongqing Taiji. As of October 17, 2020, the transaction was approved by shareholders of of Chongqing Taiji.