Li Fuqing and Zhu Xiang acquired Yili Winka Times Department Store Co., Ltd. from Xinjiang Winka Times Department Store Co.,Ltd. (SHSE:603101) for CNY 60 million effective January 11, 2019. In accordance to the equity transfer agreement signed between Xinjiang Winka Times Department Store Co.,Ltd. and Li Fuqing and Zhu Xiang, as well as the settlement repayment agreement signed between Yili Winka Times Department Store Co., Ltd. and Li Fuqing, Xinjiang Winka Times Department Store Co.,Ltd. has already received the entire equity transfer price of CNY 28.4 million as well as the CNY 31.6 million used to settle the debt of Yili Winka Times Department Store Co., Ltd. In order to recover Xinjiang Winka Times Department Store Co.,Ltd.'s all advance payment for Yili Winka Times Department Store Co., Ltd., Xinjiang Winka Times Department Store Co.,Ltd. and Li Fuqing signed an equity pledge contract, and the relevant procedures for equity pledge have been completed.