Jinan Shunzheng Investment Co., Ltd. agreed to acquire 70% stake in Jinan Jigao Hangu Industry Development Co., Ltd. from Jinan High-tech Development Co., Ltd. for approximately CNY 150 million.

Jinan High Tech Development Co Ltd, formerly Shandong Tyan Home Co Ltd, is mainly engaged in the real estate development and mining businesses. Real Estate Development segment is involved in land acquisition, planning and design, construction and development and sales operations. The Company is mainly involved in the development of residential and commercial real estate projects in Shandong province, China. Mining segment is involved in the exploration, development and dressing of gold and other precious metals, as well as the sale of ores. The Company is also engaged in the business operation of property leasing and management.