Hangzhou Chengtou Zhonghong No. 4 Equity Investment Fund Partnership Enterprise LP agreed to acquire 35% stake in Hangzhou Yongdu Enterprise Management Co., Ltd from Sundy Land Investment Co., Ltd. (SHSE:600077) for approximately CNY 190 million on January 23, 2018. In related deal, Hangzhou Chengtou Zhonghong No. 4 Equity Investment Fund Partnership Enterprise LP agreed to acquire 35% in Hangzhou Landu Enterprise Management Co., Ltd. from Sundy Land Investment Co., Ltd. The transaction is approved by Board of Directors of Sundy Land Investment Co., Ltd. on January 23, 2018. This transaction does not need to be submitted for review of shareholders. Sundy Land Investment Co., Ltd. will sell the stake to jointly carry out development of real estate project. Hangzhou Chengtou Zhonghong No. 4 Equity Investment Fund Partnership Enterprise LP cancelled the acquisition of 35% stake in Hangzhou Yongdu Enterprise Management Co., Ltd from Sundy Land Investment Co., Ltd. (SHSE:600077) on January 23, 2019.