Shenzhen Urban Construction Development (Group) Co., Ltd. signed the asset transfer agreement to acquire 50% stake in Shenzhen Haohao Property Leasing Co., Ltd. from Shenzhen Textile (Holdings) Co., Ltd. (SZSE:000045) for CNY 60.6 million on November 4, 2019. The consideration will be completed within 5 days since signing of the respective agreement. The transaction was approved on October 17, 2019 by the 22nd meeting of Shenzhen Textile (Holdings) Co., Ltd.'s 7th directorate. Shareholders of Shenzhen Textile (Holdings) Co., Ltd. approved the transaction on November 4, 2019 at the 2nd extraordinary shareholders' meeting. Shenzhen Urban Construction Development (Group) Co., Ltd. completed the acquisition of 50% stake in Shenzhen Haohao Property Leasing Co., Ltd. from Shenzhen Textile (Holdings) Co., Ltd. (SZSE:000045) for CNY 60.6 million on December 31, 2019.