Shanghai Fujia Industrial Development Co., Ltd. intends to sign an equity transfer agreement to acquire Forte (Shanghai) Asset Management Co., Ltd. from Shanghai Forte Investment Management Co., Ltd. for CNY 31 million on January 12, 2019. Payment will be done in one single installment within 90 days since delivery of underlying equity. For the year ending December 31, 2018, Forte (Shanghai) Asset Management Co., Ltd. reported operating revenues of CNY 176.5 million and net profit of CNY 12 million. As of Forte (Shanghai) Asset Management Co., Ltd. reported total assets of CNY 172.8 million and owners’ equity of CNY 30.9 million. Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655), parent of Shanghai Fujia Industrial Development Co., Ltd. intends to use CNY 31 million for the deal. The transaction was approved by the 31st meeting of the 9th Directorate of Shanghai Yuyuan Tourist Mart Co., Ltd. As of January 29, 2019, shareholders of Shanghai Yuyuan Tourist Mart has approved the transaction. Shanghai Fujia Industrial Development Co., Ltd. cancelled the acquisition of Forte (Shanghai) Asset Management Co., Ltd. from Shanghai Forte Investment Management Co., Ltd. on January 12, 2020.