Jiang Zhenzhong intends to acquire a 2.1% stake in Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE : 000961 from Zhongnan Urban Construction Investment Co., Ltd. for approximately CNY 120 million on March 17, 2023. Under the terms, Jiang Zhenzhong will acquire 79.1467 million shares at a price of CNY 1.505 per share in cash.