Changzhou Zhongjing Real Estate Development Co., Ltd. agreed to acquire remaining 51% stake in Changzhou New Huangpu Zhongjin Real Estate Co., Ltd. from Shanghai New Huang Pu Industrial Group Co., Ltd. (SHSE:600638) for CNY 81.6 million on May 10, 2022. Upon completion, Changzhou Zhongjing Real Estate will own 100% stake in Changzhou New Huangpu Zhongjin Real Estate. The Changzhou New Huangpu Zhongjin Real Estate had CNY 3.57 billion and net assets of CNY -11.64 million, as of February 28, 2022. The transaction has been approved at the fourth extraordinary meeting of the eighth board of directors of Shanghai New Huang Pu Industrial Group. As of June 29, 2022, the transaction was approved by the shareholders in the meeting held on June 28, 2022. As of May 15, 2023, shareholders of Shanghai New Huang Pu Industrial Group Co., Ltd. approved the supplementary agreement. As of May 26, 2023, Shanghai New Huang Pu Industrial Group received the share transfer payments of CNY 1.8658 million.

Changzhou Zhongjing Real Estate Development Co., Ltd. completed the acquisition of 51% stake in Changzhou New Huangpu Zhongjin Real Estate Co., Ltd. from Shanghai New Huang Pu Industrial Group Co., Ltd. (SHSE:600638) on June 6, 2023.