Lanhai Holding Group agreed to acquire 4% stake in Shanghai Rural Commercial Bank Co., Ltd. from Greenland Holdings Group Corporation Limited (SHSE:600606) for CNY 1.9 billion on December 22, 2016. Lanhai will acquire 200 million shares under the deal. As of December 31, 2015, Shanghai Rural Commercial Bank Co., Ltd. had total assets of CNY 587.014 billion and revenue of CNY 15.29 billion. Deal is subject to the approval or filing of the China Banking Regulatory Commission or its branch offices.

Lanhai Holding Group completed the acquisition of 4% stake in Shanghai Rural Commercial Bank Co., Ltd. from Greenland Holdings Group Corporation Limited (SHSE:600606) on April 6, 2017.