CTS International Logistics Corporation Limited (SHSE:603128) signed Property Rights Transaction Contract to acquire 60% stake in Luoyang Zhongzhong Transportation Co., Ltd. from CITIC Heavy Industries Co., Ltd. (SHSE:601608) for CNY 69.2 million on July 8, 2020. CTS International Logistics Corporation won the bid to acquire 60% stake in Luoyang Zhongzhong Transportation after the participation in the bid was approved in the CTS International Logistics Corporation Limited's directorate meeting on June 30, 2020, and does not need the shareholders' approval.