Fan Mingke signed a share transfer agreement to acquire 29% stake in Lander Sports Development Co.,Ltd. (SZSE:000558) from Lander Holdings Group Co., Ltd. for CNY 1.3 billion on January 24, 2019. Under the terms, 373.9 million shares will be acquired. Fan Mingke shall pay the first share transfer price of CNY 300 million to the designated account of Lander Holdings Group Co., Ltd. before January 25, 2019 and pay the remaining amount before January 28, 2019. After the acquisition, Fan Mingke will become Lander Sports Development Co.,Ltd.'s controlling shareholder. Fan Mingke cancelled the acquisition of 29% stake in Lander Sports Development Co.,Ltd. (SZSE:000558) from Lander Holdings Group Co., Ltd. on January 24, 2020.