Fang Pengxiang agreed to acquire a 10% stake in Zhongxing Shenyang Commercial Building Group Co.,Ltd from Liaoning Fangda Group Industrial Co., Ltd. for approximately CNY 220 million.

ZHONGXING SHENYANG COMMERCIAL BUILDING GROUP CO., LTD. is a China-based company principally engaged in the retail of department stores. The Company operates a chain of department stores, supermarkets and online shopping platforms. The Company is also engaged in the property leasing business and the provision of advertising services. The Company mainly operates its business in Liaoning Province, China.