Lander Sports Development Co., Ltd. (SZSE:000558) agreed to acquire 66.67% stake in Chengdu Culture & Tourism Development Co., Ltd from Chengdu Culture & Tourism Development Group Ltd. and Chengdu Sports Industry Co Ltd. for approximately CNY 510 million on October 9, 2023. Lander Sports Development will exchange its 100.00% equity in Hangzhou Lander Fengtan Real Estate Co., Ltd. and 100.00% equity in Nanjing Lander Sports Development Co., Ltd. with Chengdu Culture & Tourism Development Group's 63.34% equity in Chengdu Culture & Tourism Development Co.,Ltd. and will make up the difference in asset replacement in cash. The transaction has been approved by the board of directors of Chengdu Culture & Tourism Development Group Ltd. The transaction still needs to be reviewed and approved by the shareholders? meeting of Lander Sports Development and other possible approvals or approvals required by relevant laws and regulations As of April 30, 2023, the total assets of Chengdu Culture & Tourism Development Co., Ltd. is CNY 719,110,300.

Mao Lu, Zhang Miaomiao, Liang Xichao, Wang Boxue of Zhongtai Securities Co., Ltd. (SHSE:600918) acted as financial advisor, Zhang Ningning and Yang Xueyan of Mazars Certified Public Accountants LLP acted as accountant and Li Xiaomei, Ma Hongji and Tan Zhen of Beijing Jingtian and Gongcheng Attorneys at Law acted as legal advisor to Lander Sports Development.