Shenzhen Xishui Investment Co., Ltd. acquired 95% stake in Shenzhen Excellence Operation Management Co., Ltd. Excellence Commercial Property & Facilities Management Group Limited (SEHK:6989) for approximately CNY 330 million on December 22, 2021. Under the terms, Shenzhen Xishui will pay CNY 99.8 million, representing 30% of the total consideration through bank transfer before December 31, 2021, CNY 66.5 million, representing 20% of the total consideration through bank transfer within 15 working days upon the completion of the industrial and commercial change, CNY 99.8 million, representing 30% of the total consideration through bank transfer before December 31, 2022, and CNY 66.5 million, representing 20% of the total consideration through bank transfer before February 28, 2023. In a related transaction, Shenzhen Xishui Investment Co., Ltd. entered into the Agreement to acquire 5% stake in Shenzhen Excellence Operation Management Co., Ltd. from Shenzhen Excellence Property Management Co., Ltd. for CNY 17.5 million. As of November 30, 2021, Shenzhen Excellence Operation reported net asset of CNY 347.7 million. Shenzhen Xishui Investment Co., Ltd. completed the acquisition of 95% stake in Shenzhen Excellence Operation Management Co., Ltd. Excellence Commercial Property & Facilities Management Group Limited (SEHK:6989) on December 22, 2021.