Chongqing Baocheng Commercial Management Co., Ltd. signed property rights transaction contract to acquire 51% stake in Chongqing Qinian Real Estate Development Co., Ltd. from Chongqing Yukaifa Co., Ltd (SZSE:000514) for CNY 36 million on June 5, 2020. After the completion of the equity transfer, Chongqing Yukaifa Co., Ltd no longer holds the equity of Chongqing Qinian Real Estate Development Co., Ltd. On January 22, 2020, the twenty-seventh meeting of the eighth directorate of Chongqing Yukaifa Co., Ltd reviewed and approved the deal. On April 24, 2020, the twenty-seventh meeting of the eighth directorate of Chongqing Yukaifa Co., Ltd reviewed and approved the deal.