Tao Tingting agreed in principle to acquire additional 51.4% stake in Jiangsu Chang'o Sports Development Co., Ltd. from Ningbo Fubang Jingye Group Co.,Ltd (SHSE:600768) on December 18, 2020. Tao Tingting directly owns 28.72% stake in Jiangsu Chang'o Sports Development. After, Ningbo Fubang Jingye Group will no longer own stake in Jiangsu Chang'o Sports Development.