Jingzhou Urban Development Capital Operation Co., Ltd. agreed to acquire an additional 5.13% stake in Guanfu Holding Co., Ltd. (SZSE:002102) from Chen Liequan and Yujiang Jinchuangying Investment Center (Limited Partnership) on May 17, 2022. Under the terms, Chen Liequan and Yujiang Jinchuangying will transfer 135 million shares to Jingzhou Urban Development. Pursuant to transaction, Chen Liequan's stake decreased from 11.66% to 8.81%, Yujiang Jinchuangying's stake decreased from 8.79% to 6.51% and Jingzhou Urban Development's stake increased from 4.72% to 9.85%.

Jingzhou Urban Development Capital Operation Co., Ltd. completed the acquisition of an additional 5.13% stake in Guanfu Holding Co., Ltd. (SZSE : 002102) from Chen Liequan and Yujiang Jinchuangying Investment Center (Limited Partnership) for CNY 540 million on June 20, 2022. Jingzhou Urban Development paid CNY 4 per share for each share of Guanfu Holding.