Ningbo City Travel Investment Development Co., Ltd. agreed to acquire 100% of Ningbo Chengtou Real Estate/74.87% of Ningbo Real Estate/60% of Yuyao Saige/other assets from Ningbo Fuda Company Limited (SHSE:600724) for CNY 3.97 billion on October 26, 2018. Ningbo Fuda will acquire 100% equity of Ningbo Chengtou Real Estate Co., Ltd., 74.87% of Ningbo Real Estate Co., Ltd. 60.00% equity of Yuyao Saige Economic and Technological Development Co., Ltd. and the receivables of Ningbo Chengtou Real Estate Co., Ltd. of CNY 2,155.5098 million, the receivables of Ningbo Haishu City Investment and Real Estate Co., Ltd. of CNY 2,479.6819 million, the receivables of Yuyao Saige Economic and Technological Development Co., Ltd. of CNY 864.1792 million. As of April 24, 2019, Ningbo Fuda Company Limited received the 3rd transfer payment and the interest payment from City Travel Company. Ningbo City Travel Investment Development Co., Ltd. cancelled the acquisition of 100% of Ningbo Chengtou Real Estate/74.87% of Ningbo Real Estate/60% of Yuyao Saige/other assets from Ningbo Fuda Company Limited (SHSE:600724) on October 26, 2019.