Beijing Hualian Group Investment Holding Co., Ltd. intends to acquire Asset And Liabilities Of Beijing Hualian Hypermarket Co., Ltd. from Innovation New Material Technology Co., Ltd. (SHSE:600361) for CNY 2.3 billion on September 16, 2021. Beijing Hualian Group Investment Holding Co., Ltd. agreed to acquire Asset And Liabilities Of Beijing Hualian Hypermarket Co., Ltd. from Innovation New Material Technology Co., Ltd. (SHSE:600361) on January 26, 2022. The transaction is subject to approval from Beijing Hualian Hypermarket Co., Ltd.'s shareholders Anti-Monopoly Bureau of the State Administration, China Securities Regulatory Commission and approval of a formal plan. The transaction plan has been reviewed and approved at the 41st meeting of the seventh board of directors of Beijing Hualian Hypermarket Co., Ltd. The transaction plan has also been reviewed and approved by the shareholders meeting of Chuangxin Metal Financial Investors. As of february 16, 2022 Beijing Hualian Hypermarket Co., Ltd. (SHSE:600361) shareholders approved the deal. The transaction has been approved by 45th session Beijing Hualian Hypermarket 7th directorate. Huatai United Securities Co., Ltd. acted as financial advisor and King & Wood acted as legal advisor to Beijing Hualian Hypermarket. As of September 15, 2022, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission approved the transaction.

Beijing Hualian Group Investment Holding Co., Ltd. completed the acquisition of Asset And Liabilities Of Beijing Hualian Hypermarket Co., Ltd. from Innovation New Material Technology Co., Ltd. (SHSE:600361) on November 8, 2022.