Beijing Infrastructure Investment Co., Ltd. agreed to acquire 51% in Beijing Metro Land Xingye Real Estate Co., Ltd. from Metro Land Corporation Ltd. (SHSE:600683) for approximately CNY 440 million on September 11, 2019. The consideration will be paid in two equal tranches; wherein the second will be paid after closing. Currently, Metro Land Corporation Ltd. holds 100% in Beijing Metro Land Xingye Real Estate Co., Ltd. For the year ended December 31, 2018, Beijing Metro Land Xingye Real Estate Co., Ltd. reported total assets of CNY 3.6 billion, revenues of CNY 2.7 billion, net income of CNY 180.5 million and net assets of CNY 1.8 billion. The deal is subject to approval from shareholders of Metro Land Corporation Ltd. The deal is approved by the Board of Directors of Metro Land Corporation Ltd. approved the deal on September 11, 2019. Beijing Infrastructure Investment Co., Ltd. cancelled the acquisition of 51% in Beijing Metro Land Xingye Real Estate Co., Ltd. from Metro Land Corporation Ltd. (SHSE:600683) on September 11, 2020.