Zhang Quan signed an agreement to acquire 8.12% stake in Wenfeng Great World Chain Development Corporation (SHSE:601010) from Jiangsu Wenfeng Group Co., Ltd. for approximately CNY 460 million on January 10, 2020. Pursuant to the terms, Zhang Quan will acquire 150 million shares. CNY 300 million is payable on the day when application is send to to the China Securities Depository and Clearing Co., Ltd. Shanghai Branch for the registration of stake. The remaining price shall be paid within 3 months from the date of the transfer of shares. Post-completion, Jiangsu Wenfeng Group will continue to own 29.5% stake in Wenfeng Great World Chain Development. Zhang Quan cancelled the acquisition of 8.12% stake in Wenfeng Great World Chain Development Corporation (SHSE:601010) from Jiangsu Wenfeng Group Co., Ltd. on January 10, 2021.