Qingdao City Construction Investment (Group) Limited acquired 9% stake in Qingdao Rural Commercial Bank Corporation (SZSE:002958) from Qingdao International Airport Group Co., Ltd. on September 9, 2020. Under the terms of the transaction, Qingdao City Construction will acquire 500 million shares of Qingdao Rural Commercial Bank. Upon completion, Qingdao International Airport will not hold any shares of Qingdao Rural Commercial Bank. This equity change still needs to be implemented after performing corresponding procedures in accordance with the regulatory requirements of listed companies. As of September 22, 2020, the transaction has been approved by the state owned assets supervision and Administration Commission of Qingdao Municipality and approved by Qingdao banking and Insurance Regulatory Bureau. This share transfer has not yet gone through the transfer procedures. Qingdao City Construction Investment (Group) Limited completed the acquisition of 9% stake in Qingdao Rural Commercial Bank Corporation (SZSE:002958) from Qingdao International Airport Group Co., Ltd. on October 12, 2020.