Chongqing New Dazheng Property Group Co.,Ltd. (SZSE:002968) signed a share transfer agreement to acquire Sichuan Minxing Property Management Co., Ltd. from Sichuan Tonglide Hotel Management Co., Ltd and Chen Yong for CNY 97 million on October 13, 2020. Under the terms, Chongqing will pay CNY 53.35 million within 20 working days after the agreement is effective, CNY 36.65 million within 10 working days after the completion of delivery and remaining CNY 7 million before March 31, 2021. Chongqing will acquire 65% from Sichuan Tonglide and 35% from Chen Yong. As of September 30, 2020, Sichuan Minxing Property had total assets of CNY 87.94 million and net assets of CNY 41.57 million. Chongqing New Dazheng Property Group Co.,Ltd. (SZSE:002968) completed the acquisition of Sichuan Minxing Property Management Co., Ltd. from Sichuan Tonglide Hotel Management Co., Ltd and Chen Yong on March 31, 2021. Chongqing New Dazheng Property Group Co.,Ltd. recently completed the first phase of the equity transfer payment of CNY 53.35 and remitted the remaining amount of CNY 43.65 million to the joint account. The first phase of equity transfer payment was completed on October 30, 2020, and the industrial and commercial change registration procedures for the shareholder equity transfer of Minxing Property were completed on November 10, 2020; the second phase of equity transfer payment was completed in November 16, 2020. On March 31, 2021, the company completed the payment of CNY 7 million for the third phase of equity.