Shanghai Jielong Group Co., Ltd. signed a share transfer agreement to acquire 80.81% stake in Shanghai Jielong China Daily Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited (SHSE:600836) for CNY 29.3 million on November 26, 2019. For the year ended December 31, 2018, Shanghai Jielong China Daily Printing had total assets of CNY 56 million, net assets of CNY 31.7 million, revenues of CNY 79.2 million, operating profit of CNY 6.6 million and net profit of CNY 4.8 million. On November 26, 2019, Shanghai Jielong Industry Group's 9th directorate in its 11th meeting approved the transaction. The transaction is still subject to the approval of the shareholders of Shanghai Jielong Industry Group. Shanghai Jielong Group Co., Ltd. cancelled the acquisition of 80.81% stake in Shanghai Jielong China Daily Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited (SHSE:600836) on November 26, 2020.