Beijing Dezhu Technology Development Co., Ltd. entered into an agreement to acquire unknown majority stake in Hainan Golden Coast Decoration Engineering Co., Ltd., Beijing Lawton Construction Engineering Co., Ltd., Hainan Silver Cedar Modern Agricultural Development Co., Ltd. and Hainan Yinguoxin Cultural Development Co., Ltd. from Lawton Development Co., Ltd (SHSE:600209) for CNY 99.2 million on September 3, 2020. For the year ended December 31, 2019, four companies reported total assets of CNY 182.2 million and total common equity of CNY 122.3 million and total revenue of CNY 5.28 million. The transaction is subject to approval from shareholders of Lawton Development Co., Ltd. The transaction is approved by Board of Directors of Lawton Development Co., Ltd. The shareholders of Lawton Development Co., Ltd. approved the transaction on September 22, 2020.