China Credit Trust Co., Ltd. agreed to acquire 40% stake in Nanjing Zhongnan Jincheng Real Estate Development Co., Ltd. from Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) for CNY 90 million on September 20, 2018. As part of the transaction, China Credit Trust Co., Ltd. will use CNY 2.41 billion to acquire the corresponding right of return on Jiangsu Zhongnan Construction Group 60% stake in Nanjing Zhongnan Jincheng Real Estate Development. Nanjing Zhongnan Jincheng Real Estate Development Co., Ltd reported total assets of CNY 4.1 billion and net assets of CNY 165.7 million as of December 31, 2017 and revenues of CNY 0, operating loss of CNY 77 million and net loss of CNY 57.7 million for the year ended December 31, 2017. The transaction is approved by the Board of Jiangsu Zhongnan Construction Group Co., Ltd.