Shun Tak Holdings Limited (SEHK:242) agreed to acquire remaining 20% stake in Shanghai Suzuan Investment Company Limited from Shanghai Zhonghong Real Estate Company Limited for approximately CNY 500 million on November 13, 2020. For the year ended December 31, 2019, Shanghai Tongxin Investment Company Limited reported net loss of CNY 1.86 million.

Shun Tak Holdings Limited (SEHK:242) completed the acquisition of 20% stake in Shanghai Suzuan Investment Company Limited from Shanghai Zhonghong Real Estate Company Limited on January 14, 2021.