Hanhai (Tianjin) Property Development Co., Ltd. agreed to acquire Tianjin Neusoft Hanhai Industrial Development Co., Ltd. from Neusoft Corporation (SHSE:600718) for CNY 60 million on May 11, 2020. Hanhai (Tianjin) Property will pay CNY 30.6 million before May 23, 2020, and pay CNY 29.4 million before December 31, 2020. For the year ending December 31, 2019, Tianjin Neusoft Hanhai reported total assets of CNY 2.37 million, net assets of CNY 1.75 million, nil revenue and net loss of CNY 0.19 million. The transaction was approved in the 32nd Meeting of the Neusoft’s 8th Directorate held on May 11, 2020, and is subject to the shareholders’ approval.