Jiangsu Rongyun Construction Engineering Co., Ltd. signed the share transfer intention agreement to acquire 23.34% stake in Chunghsin Technology Group Co., Ltd (SHSE:603996) from Chunghsin Industry Group Co Ltd for approximately CNY 720 million on July 30, 2019. Chunghsin Industry Group Co Ltd will sell 70.04 million shares of Chunghsin Technology Group Co., Ltd. Chunghsin Industry Group Co Ltd will sell the stake to Jiangsu Rongyun Construction Engineering Co., Ltd. or its affiliated companies. The parties signed a supplemental agreement and the consideration is revised to CNY 723.3 million. In a related transaction, Pizhou Economic Development Zone Jingfa Construction Co., Ltd. signed the share transfer intention agreement to acquire 28.4% stake in Chunghsin Technology Group Co., Ltd from Chunghsin Industry Group Co Ltd for approximately CNY 880 million. The transaction is still subject to the approval of the internal decision-making procedures of Jiangsu Rongyun Construction Engineering Co., Ltd. or its affiliates and Chunghsin Industry Group Co., Ltd. The transaction still needs to be approved by the state-owned assets supervision and administration institution, and it is still necessary to confirm the compliance of the Shanghai Stock Exchange before the China Securities Depository and Clearing Co., Ltd. Jiangsu Rongyun Construction Engineering Co., Ltd. cancelled the acquisition of 23.34% stake in Chunghsin Technology Group Co., Ltd (SHSE:603996) from Chunghsin Industry Group Co Ltd on March 27, 2020