Tianjin State-Owned Capital Investment Operation Co., Ltd. signed a share transfer agreement to acquire additional 13.21% stake in Tianjin Realty Development (Group) Co., Ltd. (SHSE:600322) from Tianjin Jincheng State-owned Capital Investment Operation Co., Ltd. for approximately CNY 600 million on July 22, 2020. The offer per share is CNY 4.08. The payment for this share transfer shall be paid within ten working days after the effective date of this agreement. Pre deal, Tianjin State-Owned Capital Investment Operation held 3.2% stake and post completion, it will hold 16.4% stake in Tianjin Realty Development (Group. Before the transfer of Tianjin Realty Development's shares, Tianjin Jincheng State-owned Capital Investment Operation shall present to Tianjin State-Owned Capital Investment Operation a valid certification document stating that the shares to be transferred are not pledged, frozen, sealed, etc., after inquiries by the registration and settlement company. Tianjin Jincheng State-owned Capital Investment Operation and Tianjin State-owned Capital Investment Operation shall, within 90 working days after obtaining the approval of the State-owned Assets Supervision and Administration Commission, apply to the Shanghai Stock Exchange and China Settlement Shanghai Branch for share transfer, and complete the industrial and commercial filing and share transfer procedures. As of August 4, 2020, the deal was approved by Tianjin State-owned Assets Supervision and Administration Commission.