Ningbo Lingnan Enterprise Management Partnership Enterprise (Limited Partnership) agreed to acquire 6.5% stake in Taikong Intelligent Construction Co., Ltd. (SZSE:300344) from Fan Li and Fan Zhi for approximately CNY 180 million on May 10, 2020. Ningbo Lingnan Enterprise Management Partnership Enterprise (Limited Partnership) entered into an agreement to acquire 6.5% stake in Taikong Intelligent Construction Co., Ltd. (SZSE:300344) from Fan Li and Fan Zhi for approximately CNY 180 million on May 11, 2020. Under the terms, 32.2 million shares will be acquired at a price of CNY 5.58 per share. As a part of the transaction, 19.7 million shares accounting for 3.97% stake will be acquired from Fan Li and 12.5 million shares accounting for 2.53% stake will be acquired from Fan Zi. The transaction has been approved by the partners of Ningbo Lingnan Enterprise on May 10, 2020. Taikong Intelligent Construction Co. received a notice from Mr. Fan Li and Mr. Fan Zhi, learned that the transfer registration procedures for the share transfer were already completed and transfer date is June 8, 2020