The Board of C&D International Investment Group Limited announced that, on 8 January 2019, Yi Yue entered into the termination agreement with Changsha Xingwang, Hunan Xingwang and Mr. Hou, pursuant to which, among other things, parties to the Cooperation Agreement agreed to terminate the Cooperation Agreement. As a result of the termination of the Cooperation Agreement, on 8 January 2019, Yi Yue also entered into the termination agreement with Hunan Hongkai, pursuant to which, among other things, parties to the JV Agreement agreed to terminate the JV Agreement. The Group is principally engaged in the business of property development, real estate industry chain investment services and investment in emerging industries in the PRC. The Company was informed by Changsha Xingwang that Changsha Xingwang fails to fulfil one or more of the conditions precedent in the Cooperation Agreement. As such, through amicable discussion and negotiation among the parties to the Cooperation Agreement and after due and careful consideration by the Company, the parties have come to the conclusion that the cooperation under the Cooperation Agreement is not feasible, and therefore agreed to terminate the Cooperation Agreement. As a result of the termination of the Cooperation Agreement and that the Joint Venture has not been established, through the amicable discussion and negotiation among the parties to the JV Agreement, the parties have also come to the conclusion that the JV Agreement shall be terminated. The Board considers that the termination of the Cooperation Agreement and the JV Agreement will not have any material adverse effect on the operation, business or financial position of the Group and that the termination agreements are fair and reasonable and in the interest of the Company and the Shareholders as a whole.