Shanghai Zhongnan Jinshi Business Management Co., Ltd agreed to acquire Chengdu Zhongnan Industrial Park Management Co., Ltd., Jinan Zhongnan Property Co., Ltd., Shaoxing Hongshi Property Co., Ltd. and Wuxi Hongshi High-Tech Development Co., Ltd. from Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) for approximately CNY 130 million on September 21, 2018. The consideration for Chengdu Zhongnan Industrial Park Management Co., Ltd. is CNY 0.93 million, for Jinan Zhongnan Property Co., Ltd. is CNY 82.4 million, for Shaoxing Hongshi Property Co., Ltd. is CNY 1 million and for Wuxi Hongshi High-Tech Development Co., Ltd. is CNY 44.3 million. Chengdu Zhongnan Industrial Park Management Co., Ltd. reported total assets of CNY 2.6 million and net liabilities of CNY 1.3 million as of December 31, 2017 and revenues of CNY 0, operating loss of CNY 1.8 million and net loss of CNY 1.3 million for the year ended December 31, 2017. Jinan Zhongnan Property Co., Ltd. reported total assets of CNY 84.8 million and net assets of CNY 46.5 million as of December 31, 2017 and revenues of CNY 0, operating loss of CNY 4.6 million and net loss of CNY 3.5 million for the year ended December 31, 2017. Shaoxing Hongshi Property Co., Ltd. reported total assets of CNY 2.8 million and net liabilities of CNY 1.1 million as of December 31, 2017 and revenues of CNY 0, operating loss of CNY 1.4 million and net loss of CNY 1.1 million for the year ended December 31, 2017. Wuxi Hongshi High-Tech Development Co., Ltd. reported total assets of CNY 15.4 million and net assets of CNY 9.8 million as of December 31, 2017 and revenues of CNY 0, operating loss of CNY 2.6 million and net loss of CNY 1.9 million for the year ended December 31, 2017. The agreement will be signed after the Jiangsu Zhongnan Construction Group Co., Ltd shareholders’ approval. The transaction is approved by the board of Jiangsu Zhongnan Construction Group Co., Ltd.