Zhu Qianji signed share purchase agreement to acquire 5.9% stake in Palm Eco-Town Development Co., Ltd (SZSE:002431) from Wu Guichang for approximately CNY 260 million on July 23, 2021. In the acquisition, Zhu Qianji will acquire 88.8 million shares. The payment shall be made after the signing of this agreement and within 10 working days of completion of the transfer procedures of the target shares. Post completion, Wu Guichang stake in Palm Eco-Town will reduce from 8.3252% to 2.3547% and for Zhu Qianji it will increase from 1.0660% to 7.0365%. This transfer of agreement is an arrangement for personal funding needs. Zhu Qianji signed completed the acquisition of 5.9% stake in Palm Eco-Town Development Co., Ltd (SZSE:002431) from Wu Guichang on August 2, 2021.