Shenzhen Dongfang Shenglai Investment Management Co. Ltd. signed an equity transfer framework agreement to acquire a 5% stake in TianGuang ZhongMao Co.,Ltd. (SZSE:002509) from Chen Xiuyu and Chen Wentuan for approximately CNY 310 million on November 12, 2018. Under the terms, Chen Xiuyu and Chen Wentuan will transfer no less than 5% stake in TianGuang ZhongMao Co.,Ltd. On March 1, 2019, a share transfer agreement has been signed. As per the terms of transaction, Shenzhen Dongfang Shenglai Investment Management Co. Ltd. will acquire 124.6 million shares at CNY 2.48 per share in TianGuang ZhongMao. Upon completion, Chen Xiuyu and Chen Wentuan will hold 15.8% and 1.1% stake in TianGuang ZhongMao respectively. Shenzhen Dongfang Shenglai Investment Management Co. Ltd. completed the acquisition of 5% stake in TianGuang ZhongMao Co.,Ltd. (SZSE:002509) from Chen Xiuyu and Chen Wentuan on April 4, 2019.