Beijing Urban Construction Design & Development Group Co., Limited entered into the Asset Transfer Agreement to acquire all assets and related creditor?s rights and debts of the rail transit construction contracting department from Beijing Zhuzong Group Co., Ltd. for CNY 19 million.

Beijing Urban Construction Design & Development Group Co., Limited is principally engaged in the design, survey, consultancy and construction contracting business. The Company operates its business through two segments. The Design, Survey and Consultancy segment is engaged in the provision of services on designing, surveying and mapping, monitoring and consulting services in the engineering of urban rail transit, municipal management and construction. The Construction Contracting segment is engaged in the provision of services relating to urban rail transit construction contracting.