Haian Ruihai Urbanization Investment and Construction Co., Ltd. signed a share transfer agreement to acquire 5.77% stake in Jiangsu Zongyi Co.,LTD from Nantong Zongyi Investment Co., Ltd. for approximately CNY 600 million.

Jiangsu Zongyi Co.,LTD is a China-based company, principally engaged in the operation of solar energy business. Its energy business mainly includes the construction and operations management of solar power stations. The Company is also engaged in chip design and application, high temperature superconducting (hts) filters, the Internet lotteries and mobile games related businesses, and stock investing business.