Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) agreed to acquire 46% stake in Nanjiing Huacheng Real Estate Development Co., Ltd. from Zhejiang Zhongnan Holding Group Co., Ltd. for CNY 230 million on August 17, 2016. The Board of Directors of Jiangsu Zhongnan Construction Group Co., Ltd. approved the transaction. As on June 30, 2016 Nanjiing Huacheng Real Estate Development Co., Ltd. reported total assets of CNY 3921.99 million and net assets of CNY 499.03 million. Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) cancelled the acquisition of 46% stake in Nanjiing Huacheng Real Estate Development Co., Ltd. from Zhejiang Zhongnan Holding Group Co., Ltd. on August 17, 2017.