Pizhou Economic Development Zone Jingfa Construction Co., Ltd. agreed to acquire 28.4% stake in Chunghsin Technology Group Co., Ltd (SHSE:603996) from Chunghsin Industry Group Co Ltd for approximately CNY 880 million on July 30, 2019. Pizhou Economic Development Zone Jingfa Construction Co., Ltd. entered into an share transfer supplemental agreement to acquire Chunghsin Technology Group Co., Ltd from Chunghsin Industry Group CO., Ltd on September 5, 2019. Pizhou Economic Development Zone Jingfa Construction Co., Ltd. will acquire 85.36 million shares at CNY 10.327 per share of Chunghsin Technology Group Co., Ltd. The transaction is subject to regulatory approval.