Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. (SHSE:900912) agreed to acquire the remaining 8.78% stake in Shanghai Waigaoqiao Free Trade Zone Xin Development Co., Ltd. from an individual shareholder and the ESOP of Shanghai Waigaoqiao Free Trade Zone Xin Development Co., Ltd. on October 29, 2019. Post completion, Shanghai Waigaoqiao Free Trade Zone Group will own 100% stake in Shanghai Waigaoqiao Free Trade Zone Xin Development. Shanghai Waigaoqiao Free Trade Zone Xin Development had total assets of CNY 7.37 million and net profit of CNY 160 million for the year ended December 31, 2018. Transaction was approved at the 10th session of Shanghai Waigaoqiao Free Trade Zone’s 9th directorate held on October 29, 2019. Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. (SHSE:900912) cancelled the acquisition of the remaining 8.78% stake in Shanghai Waigaoqiao Free Trade Zone Xin Development Co., Ltd. from an individual shareholder and the ESOP of Shanghai Waigaoqiao Free Trade Zone Xin Development Co., Ltd. on October 30, 2020.