Shanghai Beiwaitan Property Management Co., Ltd. signed a transfer agreement to acquire housing use rights in No. 4-6, Lane 951, Dongyuhang Road from Shanghai Huitong Energy Co.,Ltd. for CNY 3.6 million.

Shanghai Beiwaitan Property Management Co., Ltd. signed a transfer agreement to acquire housing use rights in No. 4-6, Lane 951, Dongyuhang Road from Shanghai Huitong Energy Co.,Ltd. (SHSE:600605) for CNY 3.6 million on December 16, 2014. At the time of signing, Shanghai Beiwaitan Property Management paid CNY 0.5 million and within 5 working days after the agreement becomes effective, Shanghai Beiwaitan Property Management will pay the remaining CNY 3.1 million.

The agreement does not need the directorate and the shareholders' approvals.