Yonghui Superstores Co., Ltd. (SHSE:601933) signed an agreement to acquire 9% stake in Chengdu Hongqi Chain Co.,Ltd. (SZSE:002697) from Cao Shiru and Cao Zengjun for approximately CNY 710 million on January 2, 2018. Cao Shiru and Cao Zengjun will transfer 107.44 million and 14.96 million shares respectively and reduce holding to 327.42 million and 48.28 million shares respectively. Earlier on December 26, 2017, Yonghui Superstores Co., Ltd. (SHSE:601933) signed an agreement to acquire 12% stake in Chengdu Hongqi Chain Co.,Ltd. (SZSE:002697) from Cao Shiru and person acting in concert.

Upon completion of aforementioned transactions, Yonghui Superstores Co., Ltd. will hold 21% stake in in Chengdu Hongqi Chain Co.,Ltd. The transaction was approved by the 30th session of the 3rd directorate meeting of Yonghui Superstores Co., Ltd.