Luohe Shuanghui Logistics Investment Co., Ltd. signed an equity transfer contract to acquire 60% stake in Henan Shuanghui Real Estate Co., Ltd. from Henan Shuanghui Investment & Development Co.,Ltd. (SZSE:000895) for approximately CNY 160 million on July 23, 2020. In a related deal, Changjian Holding Group Co., Ltd. signed an equity transfer contract to acquire additional 30% stake in in Henan Shuanghui Real Estate Co., Ltd. from Henan Shuanghui Investment & Development Co.,Ltd. The buyers should remit the equity transfer price to the company by wire transfer in one lump sum before July 25, 2020. Post transaction, Henan Shuanghui Investment & Development Co.,Ltd. will hold no stake and Luohe Shuanghui Logistics Investment Co., Ltd. will hold 60% stake. As of December 31, 2019, Henan Shuanghui Real Estate Co., Ltd. had total assets of CNY 508.6 million, net assets of CNY 94.5 million. In 2019, Henan Shuanghui Real Estate Co., Ltd. had revenue of CNY 0, operational loss of CNY 4.7 million and net loss of CNY 3.6 million. The proposal has been approved by the 26th meeting of the 7th directorate of the company on July 21, 2020 and does not need any other approvals.