Jingzhou Urban Development Capital Operation Co., Ltd. signed framework agreement to acquire an additional 2.28% stake in Guanfu Holding Co., Ltd. (SZSE:002102) from Shantou Jinchuangying Investment Consulting Center (Limited Partnership) for approximately CNY 140 million on May 17, 2022. Jingzhou Urban Development Capital Operation Co., Ltd. will acquire 60 million shares at CNY 2.4 per share. On May 26, 2022, Jingzhou Urban Development Capital Operation Co., Ltd. signed agreement to acquire an additional 2.28% stake in Guanfu Holding Co., Ltd. from Shantou Jinchuangying Investment Consulting Center (Limited Partnership). In a related transaction, Jingzhou Urban Development Capital Operation Co., Ltd. signed framework agreement to acquire an additional 5.13% stake in Guanfu Holding Co., Ltd. from Chen Liequan for approximately CNY 230 million on May 17, 2022. Post completion of both transactions, Jingzhou Urban Development Capital Operation Co., Ltd. will hold 9.79% stake of Guanfu Holding Co., Ltd.