Nanjing Hexi New Town Development and Construction Management Committee agreed to acquire Nanjing Hexi New Town New Type Tramcar Construction Co., Ltd from Guodian Nanjing Automation Co., Ltd. (SHSE:600268), Nanjing Rail Transit Systems Co., Ltd, CRRC Nanjing Puzhen Co., Ltd and Nanjing Sutie Economic and Technological Development Co., Ltd on March 29, 2019. Under the terms, Guodian Nanjing Automation’s one-time stake transfer of Nanjing Hexi New Town New Type Tramcar Construction shall now be carried out in two stages in which under first stake transfer: total stake will be 70%, wherein the Guodian Nanjing Automation’s stake to be transferred is 6.08% for CNY 23.7 million and under second stake transfer: total stake will be 30%, wherein Guodian Nanjing Automation’s stake to be transferred is 2.60%, transfer price shall be confirmed based on the stake transfer special audit results. Nanjing Hexi New Town New Type Tramcar Construction reported total assets of CNY 0.12 million and net assets of CNY 0.03 million as of February 28, 2019. The transaction has been reviewed and approved during Guodian Nanjing Automation’s 4th session of the 7th directorate meeting. Nanjing Hexi New Town Development and Construction Management Committee cancelled the acquisition of Nanjing Hexi New Town New Type Tramcar Construction Co., Ltd from Guodian Nanjing Automation Co., Ltd. (SHSE:600268), Nanjing Rail Transit Systems Co., Ltd, CRRC Nanjing Puzhen Co., Ltd and Nanjing Sutie Economic and Technological Development Co., Ltd on March 29, 2020.