Guangzhou Pearl River City Management Group Co., Ltd. agreed to acquire 80% stake in Guangzhou Pearl River Property Management Co., Ltd. from Guangzhou Pearl River Industrial Development Co., Ltd. (SHSE:600684) for CNY 22.6 million on April 13, 2021. The entire equity transfer price shall be paid within 5 calendar days from the date of completing the industrial and commercial registration of the shareholder change and obtaining the written certification documents. Guangzhou Pearl River Property Management has total assets of CNY 51.04 million, net assets of CNY 13.8 million, revenue of CNY 59.6 million and net profit of CNY 2.5 million for the year ended December 31, 2020. The transaction has been approved by the Board of Directors of Guangzhou Pearl River Industrial Development.