Langfang Ningchi Trading Co., Ltd. signed equity transfer agreement to acquire 83.3333% stake in Hebei Quanyechang Hotel Management Co., Ltd. from Dasheng Times Cultural Investment Co., Ltd. (SHSE:600892) for CNY 70.8 million on December 3, 2021. As on September 30, 2021, Hebei Quanyechang Hotel Management Co., Ltd. generated total assets of CNY 65.5 million and net assets of CNY 63.3 million. The transaction is approved by board of directors of Dasheng Times Cultural Investment Co., Ltd. and is subject to shareholder’s approval.