Chongqing Jinke Real Estate Development Co., Ltd. agreed to acquire Chongqing Three Gorges Water Conservancy Industrial Development Co., Ltd. for approximately CNY 220 million on December 14, 2017. As per the terms of the transaction, Chongqing Jinke Real Estate Development Co., Ltd. will acquire all equity and creditor’s rights of Chongqing Three Gorges Water Conservancy Industrial Development Co., Ltd. On December 22, 2017, the transfer price of CNY 222.78 million was deposited to the company’s account. Chongqing Jinke Real Estate Development Co., Ltd. completed the acquisition of Chongqing Three Gorges Water Conservancy Industrial Development Co., Ltd. on December 29, 2017.