Shanghai Lianshen Real Estate Development Co., Ltd. and Shanghai Meiji Information Technology Co., Ltd. agreed to acquire Qingdao Lianshun Real Estate Co., Ltd. and Qingdao Wangzhou Property Co., Ltd. from Qingdao Centralcon Real Estate Co., Ltd. and Shenzhen Centralcon Investment Holding Co., Ltd. (SZSE:000042) for approximately CNY 130 million on December 8, 2023. Under the terms, Shenzhen Centralcon Investment borrowed CNY 115.4 million from Qingdao Lianshun Real Estate and CNY 143.4 million from Qingdao Wangzhou Property and these amounts shall be offset against the consideration payment. The remaining balance shall be paid by Shenzhen Centralcon Investment to Shanghai Lianshen Real Estate Development Co., Ltd. and Shanghai Meiji Information Technology Co., Ltd. Qingdao Lianshun Real Estate Co., Ltd. and Qingdao Wangzhou Property Co., Ltd reported total assets of CNY 919.5 million and net assets of CNY 137.4 million as on October 31, 2023.

The transaction has been approved by the Board of Directors of Shenzhen Centralcon Investment.