Hangzhou Theo Elevator Co., Ltd. entered into an agreement to acquire 5.6% stake of Sundy Land Investment Co., Ltd. (SHSE:600077) from Zhejiang Sundy Holding Co., Ltd. for CNY 300 million on September 5, 2022. Under the terms of the agreement, Hangzhou Theo Elevator Co., Ltd. will acquire 80 million share from Zhejiang for CNY 3.75 per share. Post the transaction, Zhejiang will hold 389,144,518 shares constituting 29.04% stake.

Hangzhou Theo Elevator Co., Ltd. completed the acquisition of a 5.6% stake in Sundy Land Investment Co., Ltd. (SHSE:600077) from Zhejiang Sundy Holding Co., Ltd. on September 23, 2022.