Financial Street Holdings Co., Ltd. (SZSE:000402) entered into the Equity Transfer Agreement to acquire remaining 49% stake in Tianjin Chuangda Real Estate Development Co., Ltd from CIFI Holdings (Group) Co. Ltd. (SEHK:884) for approximately CNY 440 million on December 7, 2023. As of October 1, 2023, Tianjin Chuangda Real Estate Development Co., Ltd reported total assets CNY 2.7 billion and net assets of approximately CNY 950 million.

The deal is subject to approval from regulatory board.