Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) intends to sign stake transfer agreement to acquire various additional stakes in Nantong Jinyi Property Co., Ltd., Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. and Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. from Zhongnan Holding Group Co., Ltd. for approximately CNY 550 million on December 11, 2018. Under the terms of the deal, Jiangsu Zhongnan Construction Group Co., Ltd. will acquire remaining 49% stake in Nantong Jinyi Property Co., Ltd. for CNY 150.6 million, additional 14.18% stake in Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. for CNY 54.3 million and additional 46.92% stake in Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. for approximately CNY 348 million. In a related deal, Changshu Zhongnan Century Town Real Estate Development Co.,Ltd., wholly-owned subsidiary of Jiangsu Zhongnan Construction Group Co., Ltd. intends to sign stake transfer agreement to acquire remaining 39.86% stake in Suzhou Zhongnan Jincheng Real Estate Development Co., Ltd. on December 11, 2018. Jiangsu Zhongnan Construction Group Co., Ltd. already held 51% stake and will own 100% in Nantong Jinyi Property Co., Ltd., post completion of the deal. It held 81.31% stake and post completion of the deal, it will hold 95.48% stake in Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. Jiangsu Zhongnan Construction Group Co., Ltd. also held 46.92% stake and post completion of the deal, will hold 93.84% stake in Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. As of year ending 2017, Nantong Jinyi Property Co., Ltd., Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. and Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. reported total assets of CNY 3.6 billion, CNY 2.7 billion and CNY 4.5 billion respectively. As of year ending 2017, Nantong Jinyi Property Co., Ltd., Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. and Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. reported net assets of CNY 154.7 million, CNY 281 million and CNY 402.3 million respectively. For the year ending 2017, Nantong Jinyi Property Co., Ltd., Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. and Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. all reported revenues of CNY 0. For the year ending 2017, Nantong Jinyi Property Co., Ltd., Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. and Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. reported operating loss of CNY 50.6 million, CNY 55.8 million and CNY 88.5 million respectively. For the year ending 2017, Nantong Jinyi Property Co., Ltd., Nanjing Zhongnan Yujincheng Real Estate Development Co., Ltd. and Nanjing Zhongnan Huacheng Real Estate Development Co., Ltd. reported net loss of CNY 44.2 million, CNY 48 million and CNY 78.1 million respectively. The transaction is subject to the approval of the shareholders of Jiangsu Zhongnan Construction Group Co., Ltd. Jiangsu Zhongnan Construction Group Co., Ltd.'s 34th session of the 7th Directorate meeting on December 11, 2018 reviewed and approved the transaction. Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) cancelled the acquisition of Nantong Jinyi/Nanjing Zhongnan Yujincheng/Nanjing Zhongnan Huacheng on December 19, 2019.