Henan Haotong Property Co., Ltd. agreed to acquire Sanmen Gorge Donghua Real Estate Development Co., Ltd. from Guangzhou Donghua Enterprise Co., Ltd. (SHSE:600393) for CNY 160 million on January 2, 2014. Guangzhou Donghua will sell a 100% stake in Sanmen Gorge Donghua for CNY 79.8 million and will also sell creditor's right of debts, worth CNY 80 million. Henan Haotong Property paid CNY 10 million on January 2, 2014 and before January 15, 2014, Henan Haotong will pay an amount of CNY 20 million, on January 23, 2014, Henan Haotong provide funding of CNY 20 million owed by Sanmen Gorge to Guangzhou Donghua and all these payments include a deposit of CNY 50 million. Guangzhou Donghua will transfer 30% of stake within 30 days after the receiving this mentioned payment.

Before March 31, 2014, Henan Haotong will pay CNY 20 million and funding of CNY 20 million owed by Sanmen Gorge to Guangzhou Donghua. Guangzhou Donghua will transfer 19% of stake within 30 days after the receiving this mentioned payment. Henan Haotong will pay remaining amount of CNY 29.79 million for the stake, CNY 27.67 million for debt and CNY 12.53 million liabilities owed by Sanmen Gorge to Guangdong Fuyin Construction Engineering Co., Ltd in two installments, paid once every half year. Guangzhou Donghua will transfer 51% of stake within 30 days after the receiving this mentioned payment. If Henan Haotong pays the full amount of consideration in advance, then Guangzhou Donghua will transfer 100% of stake within 30 days after the receiving the payment.

Sanmen Gorge Donghua reported total assets of CNY 248.16 million, net assets of CNY 37.01 million, revenue of CNY 89.4 million and net profit of CNY 0.33 million for period ended December 31, 2012. The transaction was approved by Board of Directors of Guangzhou Donghua.