Wenzhou Zhihuiteng Real Estate Marketing Planning Co., Ltd. won a bid to acquire Wenzhou Dong Ri Real Estate Development Co., Ltd. from Zhejiang Dongri Limited Company (SHSE:600113) for approximately CNY 110 million on April 3, 2020. Payment will be made in one lump sum and to be remitted to Zhejiang property and stock exchange’s designated account within 5 working days from the contract signed date. As per announcement of May 20, 2020, Wenzhou Zhihuiteng Real Estate Marketing Planning Co., Ltd. has paid the consideration amount to Zhejiang Property Exchange in full. The Zhejiang Property Exchange has paid 50% of the consideration amount to Zhejiang Dongri Limited according to the time point agreed in the agreement. The remaining part will be paid to Zhejiang Dongri Limited after the certificate of completion of transfer and the certificate of completion of change of registry is obtained by the Zhejiang Property Exchange. The transaction has been approved by the board of directors of Zhejiang Dongri Limited Company at its 7th meeting of the 8th directorate. Wenzhou Zhihuiteng Real Estate Marketing Planning Co., Ltd. completed the acquisition of Wenzhou Dong Ri Real Estate Development Co., Ltd. from Zhejiang Dongri Limited Company (SHSE:600113) on May 19, 2020.