Guangzhou Jinke Real Estate Development Co., Ltd. and Guangzhou Yinong Enterprise Co., Ltd. entered into Equity Transfer Agreement to acquire 70% stake in Guangzhou Xinze Jiyong Real Estate Development Co.,Ltd from Shaanxi International Trust Co., Ltd. (SZSE:000563) for approximately CNY 420 million on December 9, 2021. As per terms, the consideration for transfer of 35.7% equity interest to Guangzhou Yinong shall be approximately CNY 215.6 million and for 34.3% equity to Guangzhou Jinke shall be approximately CNY 207.1 million. Currently, Guangzhou Xinze Jiyong Real Estate Development is held by Shaanxi Trust, Guangzhou Yinong and Guangzhou Jinke as to 70%, 15.3% and 14.7%, respectively. Guangzhou Yinong and Guangzhou Jinke shall nominate two directors and one director, respectively. Guangzhou Yinong shall have the right to appoint the chairman of the board of directors.