Zhongcheng Jiyu (Zhejiang) Industrial Co., Ltd. agreed to acquire a 7.50% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd (SHSE:600738) from China Honglou Group Co., Ltd. for CNY 46 million on December 10, 2022. Under the terms, 58 million shares will be acquired at CNY 8 per share. Post acquisition, China Honglou will hold 15.09% stake in Lanzhou Lishang. Post acquisition, China Honglou Group's hold 15.33% stake in Lanzhou Lishang.

Zhongcheng Jiyu (Zhejiang) Industrial Co., Ltd. completed the acquisition of a 7.5% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd (SHSE:600738) from China Honglou Group Co., Ltd. on January 12, 2023.