Shenyang Public Utility Holdings Company Limited (SEHK:747) signed an agreement to acquire 95% stake in 125 sets of properties located in the Zhiying Commercial Center in Liangxiang Higher Education Park, Fangshan from Beijing Wanzi Apartment Management Company Limited for CNY 71 million on December 30, 2019. Of the total consideration, the first instalment, being the amount of CNY 52 million, of which CNY 42 million and CNY 10 million shall be payable to Beijing Wanzi Apartment Management Company Limited and the creditor of the properties respectively, will be paid within 5 business days upon the signing of the agreement, the second instalment, being the amount of CNY 14million, shall be payable to the creditor on or before February 29, 2020 and the remaining balance, being the amount of CNY 5 million, shall be payable to Beijing Wanzi Apartment Management Company Limited on or before June 30, 2020. The consideration will be settled by the internal resources of Shenyang Public Utility Holdings Company Limited. The transaction is subject to approval from the boards of directors of Shenyang Public Utility Holdings Company Limited and Beijing Wanzi Apartment Management Company Limited and the registration in relation to the transfer of stake having been obtained. The approvals from government, the regulatory authorities or the third party with respect to the transaction have been obtained. The conditions are expected to be satisfied or waived on or before June 30, 2020. If any of the conditions has not been satisfied or waived by then, the agreement shall be terminated and Beijing Wanzi Apartment Management Company Limited shall refund all the amount paid by the Shenyang Public Utility Holdings Company Limited within 30 days upon the termination of the agreement. Shenyang Public Utility Holdings Company Limited (SEHK:747) completed the acquisition of 95% stake in 125 sets of properties located in the Zhiying Commercial Center in Liangxiang Higher Education Park, Fangshan from Beijing Wanzi Apartment Management Company Limited on April 7, 2020.