Gemdale Corporation (SHSE:600383) entered into share transfer agreement to acquire remaining 30% stake in Yunnan Run’an Real Estate Development Co., Ltd. from Yunnan Hengyu Real Estate Development Co., Ltd. for approximately CNY 540 million on January 23, 2017. In related transaction, Gemdale Corporation will acquire 100% stake in Kunming Haigeng Road Project. Under the terms of transaction CNY 170 million will be paid for the equity transfer and CNY 370 million is for the creditor’s rights held by cooperative party Yunnan Hengyu Real Estate Development Co., Ltd. The transaction has been approved unanimously by the board of Gemdale Corporation.