Shanghai Yiguo E-Commerce Co., Ltd. entered into an equity transfer framework agreement to acquire 21.17% stake in Lianhua Supermarket Holdings Co., Ltd. (SEHK:980) from Yonghui Superstores Co., Ltd. (SHSE:601933) for approximately HKD 850 million on December 23, 2016. Shanghai Yiguo will acquire 237.03 million domestic shares for HKD 4.01 (CNY 3.6) per share. The deal is subject to obtaining the approval by the internal authorized authorities of each of Yonghui Superstores and Shanghai Yiguo and relevant government authorities in the People's Republic of China.

The transaction was approved by Board of Directors of Yonghui Superstores Co., Ltd. The currency conversions were done from www.oanda.com on December 23, 2016. Credit Suisse (USA), Inc. acted as financial advisor to Shanghai Yiguo E-Commerce Co., Ltd.