Liyang City Construction Development Group Co.,Ltd., signed a share transfer agreement to acquire 11.61% stake in Jiangsu Tianmu Lake Tourism Co.,Ltd (SHSE:603136) from Meng Guangcai for approximately CNY 430 million on September 21, 2021. Pursuant to the terms of the agreement, Liyang City Construction Development Group Co.,Ltd., shall acquire 21.6 million shares in Jiangsu Tianmu Lake Tourism Co.,Ltd at CNY 19.98 per share. Within 3 working days from the date of signing of this agreement, Meng Guangcai shall open a new bank account and co-administer it with Liyang City Construction Development Group Co.,Ltd. Within 3 working days from the date of opening the joint account, Liyang City Construction Development Group Co.,Ltd., shall pay CNY 8 million to the joint account in cash, as the deposit for this transaction. Within 3 working days from the date when all the prerequisites stipulated in this agreement are met and the compliance confirmation document (the listed company’s share agreement transfer confirmation form or similar documents) is obtained from the Shanghai Stock Exchange, Liyang City Construction Development Group Co.,Ltd., shall pay in cash to The condominium account pays 80% (including the deposit) of the transfer price of the underlying shares, which is CNY 3.58 million. Within 3 working days from the date when China Securities Depository and Clearing Co., Ltd. completes the transfer and registration of the target shares, Liyang City Construction Development Group Co.,Ltd., will transfer 20% of the price of the target shares, which is CNY 86.45 million. From the date of signing of this agreement until the transfer of the target shares to Liyang City Construction Development Group Co.,Ltd., if the listed company distributes dividends to Meng Guangcai with accumulated undistributed profits, Liyang City Construction Development Group Co.,Ltd., shall pay Meng Guangcai’s transfer of the target shares and shall deduct the dividend amount corresponding to the target shares. As a result of the transaction, Liyang City Construction Development Group Co.,Ltd.’s holding ratio in Jiangsu Tianmu Lake Tourism Co.,Ltd will change from 0% to 11.61% and stake of Meng Guangcai, in Jiangsu Tianmu Lake Tourism Co.,Ltd, shall decrease from 46.45% to 34.84%. Within 2 working days after all the prerequisites mentioned in this agreement are met, both parties shall jointly submit an application for confirmation of the transfer of the underlying share agreement to the Shanghai Stock Exchange. Within 2 working days from the date when the agreement transfer of the underlying shares is reviewed and confirmed by the Shanghai Stock Exchange, both parties will cooperate with China Securities Depository and Clearing Co., Ltd. to complete the transfer procedures of the underlying shares. This share transfer needs to be confirmed by the Shanghai Stock Exchange before it can go through the transfer registration procedures of the agreement transfer with Zhongdeng Company. This agreement will take effect from the date when Meng Guangcai signs, Liyang City Construction Development Group Co.,Ltd.'s legal representative signs and affixes the official seal.