Jiangsu SOHO Holdings Group Co., Ltd. agreed to acquire a 1.62% stake in Jiangsu Soho International Group Corp. from Jiangsu Holly Corporation (SHSE:600128) for CNY 40.7 million on December 4, 2017. The consideration will be paid in cash. Post completion, Jiangsu Holly Corporation will cease to hold any stake in Jiangsu Soho International Group Corp. Jiangsu Soho International Group Corp. had total assets of CNY 5.19 billion, net assets of CNY 2.83 billion, net profit of CNY 220.82 million and operating revenue of CNY 5.89 billion in 2016. The transaction is subject to the approval of the shareholders of Jiangsu Holly Corporation and was approved by the Board of Directors of Jiangsu Holly Corporation in the 26th session of 8th directorate held on December 4, 2017. The transaction has been approved by the shareholders of Jiangsu Holly Corporation during the 2nd special shareholders’ meeting on December 20, 2017. Jiangsu SOHO Holdings Group Co., Ltd. completed the acquisition of 1.62% stake in Jiangsu Soho International Group Corp. from Jiangsu Holly Corporation (SHSE:600128) on January 12, 2018.