Shanghai Jielong Group Co., Ltd. entered into a share transfer agreement to acquire Shanghai Foreign Trade Jielong Colour Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited (SHSE:600836) for approximately CNY 260 million on November 26, 2019. In related transaction Shanghai Jielong Group Co., Ltd. will acquire 100% stake each in Shanghai Jielong Pudong Colour Printing Company, Shanghai Jielong 7111 Cultural Creative Development Co., Ltd., Shanghai Jielong Paierpu Packaging Technology Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited, 100% stake in Shanghai Guangming Information Management Technology Co., Ltd. of which 60% from Shanghai Jielong Industry Group Corporation Limited and 40% from Shanghai Jielong Yongfa Printing & Packing Co. Ltd, 60% in Shanghai Jielong Iron-printing and Can-making Co., Ltd., 88% Shanghai Jielong Modern Printing & Paper Products Co., Ltd. and 80.81% in Shanghai Jielong China Daily Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited. For the Year ending December 31, 2018, total asset, net asset, revenue, operating profit, net profit of Shanghai Foreign Trade Jielong Colour Printing Co., Ltd. was approximately CNY 300 million, approximately CNY 120 million, approximately CNY 300 million, approximately CNY 11.5 million and approximately CNY 12.5 million respectively. The transaction was approved by board of directors of 9th directorate in its 11th meeting of Shanghai Jielong Industry Group Corporation Limited and approval from its shareholders is still pending. Shanghai Jielong Group Co., Ltd. completed the acquisition of Shanghai Foreign Trade Jielong Colour Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited (SHSE:600836) on May 21, 2021.