Hunan Xing Xiang Asset Management Co., Ltd. entered into an agreement to acquire Xiangtan Huatian Hotel Co., Ltd. from Huatian Hotel Group Co.,Ltd. (SZSE:000428) for approximately CNY 350 million on October 14, 2021. The acquisition also includes the creditor's rights. Within 5 working days after the signing of the contract, Hunan Xing Xiang Asset Management must make a one time deposit of the payment to Hunan Exchange’s settlement account.