Shanghai Lianshen Real Estate Development Co., Ltd. and Shanghai Meiji Information Technology Co., Ltd. agreed to acquire Qingdao Centralcon Real Estate Co., Ltd. from Shenzhen Centralcon Investment Holding Co., Ltd. (SZSE:000042) for CNY 9.98 million on December 8, 2023. Under the terms, Shenzhen Centralcon Investment borrowed CNY 25.1 million from Qingdao Centralcon Real Estate and this amount shall be offset against the consideration payment. The remaining balance shall be paid by Shenzhen Centralcon Investment to Shanghai Lianshen Real Estate Development Co., Ltd. and Shanghai Meiji Information Technology Co., Ltd. Qingdao Centralcon Real Estate reported total assets of CNY 26.2 million and net assets of CNY 9.7 million as on October 31, 2023.

The transaction has been approved by the Board of Directors of Shenzhen Centralcon Investment.