Transport and Industry Development Investment Joint Stock Company (HOSE:TCD) agreed to acquire 51% stake in Shanghai Aqrum Chemical Logistics Co., Ltd for CNY 15.3 million on November 28, 2019. The equity transfer agreement was signed on December 30, 2019. Shanghai Aqrum Chemical Logistics Co., Ltd's name was changed from Shanghai Aqrum Heyi Logistics Co., Ltd. on February 25, 2020 and upon approval of the Chinese Authorities and the completion of payment of the consideration for the transfer of equity as the conditions for the transfer. The board of directors of Shanghai Agrum approved the transaction on November 28, 2019. Transport and Industry Development Investment Joint Stock Company (HOSE:TCD) completed the acquisition of 51% stake in Shanghai Aqrum Chemical Logistics Co., Ltd on April 21, 2020.