Shanghai Jiupin Enterprise Management Center (Limited Partnership) agreed to acquire additional 12.49% stake of Shanghai Zhuoyun Enterprise Development Partnership (Limited Partnership) from Hanjia Design Group Co., Ltd. (SZSE:300746) for approximately CNY 150 million on July 10, 2020. Currently, Shanghai Jiupin owns 25.06% stake in Shanghai Zhuoyun, while Hanjia Design owns 24.98% stake in Shanghai Zhuoyun. As a result of the transaction, Shanghai Jiupin will raise its stake in Shanghai Zhuoyun to 37.55% and Hanjia Design’s stake in Shanghai Zhuoyun will reduced to 12.49%. As of December 31, 2019, Shanghai Zhuoyun reported total assets of CNY 1.2 billion, owner’s equity of CNY 1.2 billion, revenue of CNY 0, net profit of CNY 33.76 million. The transaction is approved by board of directors of Hanjia Desig.