Shenzhen Xinling Investment Partnership Enterprise (Limited Partnership) signed an agreement to acquire a 5% stake in LingNan Eco&Culture-Tourism Co.,Ltd. (SZSE:002717) from Yin Hongwei for approximately CNY 260 million on December 28, 2021. Under the terms, Shenzhen Xinling will acquire 84,220,880 shares at CNY 3.13 per share. Currently, Yin Hongwei holds 473,348,551 shares representing 28.10% stake and post transaction, Yin Hongwei will hold 389,127,671 shares representing 23.10% stake in LingNan Eco&Culture.

Shenzhen Xinling Investment Partnership Enterprise (Limited Partnership) completed the acquisition of 5% stake in LingNan Eco&Culture-Tourism Co.,Ltd. (SZSE:002717) from Yin Hongwei on December 30, 2021.On December 31, 2021, LingNan Eco&Culture-Tourism received a notice that China Securities Depository and Clearing Company Limited issued “Securities Transfer Registration Confirmation,” that the transfer was completed.