Lander Sports Development Co.,Ltd. (SZSE:000558) signed share transfer agreement to acquire Hangzhou Fengjun Properties Co., Ltd. from Lander Holdings Group Co., Ltd. for CNY 4.4 million on December 23, 2020. As of December 31, 2019, Hangzhou Fengjun Properties Co., Ltd. has total assets of CNY 14 million, net assets of CNY 4.5 million, revenue of CNY 13 million and net profit of CNY 11 million. As of August 31, 2020, Hangzhou Fengjun Properties Co., Ltd. has total assets of CNY 12 million and net assets of CNY 4.4 million. The transaction has been approved in the 14th Meeting of Lander Sports Development Co.,Ltd’s 10th Directorate and does not need to the shareholders’ approval.