Zhejiang Mingpai Calillo Jewelry Co., Ltd. signed an agreement to acquire 3.17% stake in Bank of Ruifeng from Yulong Holding Group Co., Ltd. for approximately CNY 240 million.

Zhejiang Mingpai Calillo Jewelry Co., Ltd. signed an agreement to acquire 3.17% stake in Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co. Ltd. from Yulong Holding Group Co., Ltd. for approximately CNY 240 million on September 15, 2015. Mingpai Calillo will use its own funds to acquire 40.97 million shares in Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co., Ltd. at a price of CNY 5.88 per share.

As of December 31, 2014, Ruifeng Bank's total assets is CNY 73.37 billion, total liabilities is CNY 66.58 billion, owner's equity is CNY 6.79 billion, net profit is CNY 867 million.