Zhongnan Holding Group Co., Ltd. agreed to acquire 33.33% stake in Shanghai Gingkoo Information Technology Co., Ltd. from Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) for CNY 110 million on July 20, 2018. Zhongnan Holding Group Co., Ltd. will sign an agreement to transfer the stake to Zhongnan Holding Group Co., Ltd. or its designated buyer entity. Shanghai Gingkoo Information Technology Co., Ltd. reported total assets of CNY 136.71 million and net assets of CNY 122.82 million as at December 31, 2017. Shanghai Gingkoo Information Technology Co., Ltd. reported revenues of CNY 60.36 million, operating profit of CNY 0.67 million and net profit of CNY 0.89 million in 2017. The transaction is subject to approval of shareholders of Jiangsu Zhongnan Construction Group Co., Ltd. The Board of Directors of Jiangsu Zhongnan Construction Group Co., Ltd. approved the transaction on July 20, 2018. Zhongnan Holding Group Co., Ltd. cancelled the acquisition of 33.33% stake in Shanghai Gingkoo Information Technology Co., Ltd. from Jiangsu Zhongnan Construction Group Co., Ltd. (SZSE:000961) on July 20, 2019.