Affluent Ocean International Limited entered into sale and purchase agreement to acquire 29.997% stake in Wuhan Zhisheng Group Co., Ltd. from Coastal Greenland Limited (SEHK:1124) for CNY 194 million on September 5, 2018. The consideration will be payable within 90 days after signing of the agreement. Before the Completion, Yuzhou Properties Company Limited (SEHK:1628) is indirectly interested in approximately 60% equity interest in Wuhan Zhisheng Group Co., Ltd. Upon Completion, Yuzhou Properties Company Limited will be indirectly interested in approximately 90% equity interest in Wuhan Zhisheng Group Co., Ltd. The remaining 10% equity interest in Wuhan Zhisheng Group Co., Ltd. is owned by an independent third party. The Consideration will be funded by internal resources of Yuzhou Properties Company Limited and subsidiaries. Affluent Ocean International Limited cancelled the acquisition of 29.997% stake in Wuhan Zhisheng Group Co., Ltd. from Coastal Greenland Limited (SEHK:1124) on September 5, 2019.