Beijing Easyhome Home New Retail Chain Group Co., Ltd. signed a contract to acquire Wuhan Zhongshang Commercial Group Co.,Ltd (SZSE:000785) in a reverse merger transaction on January 23, 2019. Wuhan Zhongnan Commercial will issue 6.04 billion shares. The transaction is subject to approval of the formal transaction plan by shareholders of Beijing Easyhome Home New Retail Chain Group Co., Ltd., secondary directorate approval by Board of Directors and shareholders of Wuhan Zhongshang Commercial Group Co.,Ltd, approval by the State-Owned Assets Supervision and Administration Commission of Hubei Province, approval by the concentration of business operators matter by the State Administration for Market Regulation, approval from China Securities Regulatory Commission and other approvals that may be required by relevant laws and regulations.

The transaction is approved at Wuhan Zhongnan's second special directorate meeting of 2019 on January 23, 2019, Board of Directors and shareholders of Beijing Easyhome and from respective approving bodies of the transaction counterparties. On May 31, 2019, the transaction is approved by State-owned Assets Supervision and Administration Commission of Wuhan Municipal People's Government. On May 29, 2019 and on May 30, 2019, the transaction was approved by the Directors and shareholders of Beijing Easyhome. On June 1, 2019, the transaction was again approved by the Directors of Wuhan Zhongnan. On June 17, 2019, the transaction received approval from People's Government of Wuhan Municipality. On June 18, 2019, the transaction was approved by the shareholders of Wuhan Zhongnan. On July 29, 2019, the State Administration for Market Regulation issued “Decision on No Implementation of Further Review on Business Concentration Anti-monopoly. On October 17, 2019, Wuhan Zhongshang Commercial Group Co.,Ltd received conditional approval from the Merger, Acquisition, and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission in its 49th work meeting of 2019. On November 4, 2019, the 7th temporary board meeting in 2019 of Wuhan Zhongshang reviewed and approved the relevant proposals on the adjustment of the trading plan.

Wang Chengdao, Fan Canyu, Ding Ding, Chen Dong, Cui Li, Han Di, Xue Ting, Tang Chenjing, Feng Zhexiao, Yin Jiayi, Wang Qingyu of Huatai United Securities Co., Ltd., Fan Qichang, Hu Yu, Zhu Yuchen, Zhang Tengjiao, Cao Zaihua, Ma Jingxuan of Tianfeng Securities Co., Ltd. (SHSE:601162), Lv Xiaofeng, Guo Yingying, He Xingqiang, Pan Qingming, Hu Debo, Zhao Yi, Zhou Baichuan, Tian Wenming of CSC Financial Co., Ltd. (SEHK:6066) and Hong Tao, Liu Ri, Song Yuntao, Zhou Jiang, Fang Kun, Yang Wen, Lu Qianming, Li Zhongjin, Zhang Zihui, Geng Shuo, Wu Haotian, Wang Yahui, Chang Di of CITIC Securities Company Limited (SHSE:600030) acted as financial advisors for Wuhan Zhongshang Commercial Group Co.,Ltd. Gao Wei, Zhang Jin'en, Pei Jing of Haiwen & Partners acted as legal advisors for Wuhan Zhongnan Commercial Group Co., Ltd. Luo Zhan'en, Bi Weiduo, Wu Yiyu of PricewaterhouseCoopers Zhong Tian LLP acted as accountants for Wuhan Zhongnan Commercial Group Co., Ltd.