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 Ningbo Lingnan Enterprise Management Partnership Enterprise (Limited Partnership) completed the acquisition of 6.5% stake in Taikong Intelligent Construction Co., Ltd. (SZSE:300344) from Fan Li and Fan Zhi on June 8, 2020. Received the securities transfer registration confirmation issued by China Securities Depository and Clearing Co., Ltd on June 9, 2020.