Shanghai Qiangsheng Group Automobile Repair Co., Ltd. agreed to acquire Shangqiang Used Motor Vehicle Management Co., Ltd. from Shanghai QiangSheng Holding Co., Ltd (SHSE:600662) and Shanghai Qiangsheng Auction House Co., Ltd for CNY 2.3 million on December 25, 2012. Shanghai QiangSheng Holding will sell 90% stake for CNY 2.09 million and Shanghai Qiangsheng Auction House Co., Ltd will sell 10% stake in Shangqiang Used Motor Vehicle Management for CNY 0.23 million. All the 9 Board of Directors of Shanghai Qiangsheng Holding approved the deal.

Shanghai Qiangsheng Group Automobile Repair Co., Ltd. cancelled the acquisition of Shangqiang Used Motor Vehicle Management Co., Ltd. from Shanghai QiangSheng Holding Co., Ltd (SHSE:600662) and Shanghai Qiangsheng Auction House Co., Ltd on December 25, 2013.