Alibaba (Chengdu) Software Technology Co., Ltd and Hangzhou Hanyun Xinling Equity Investment Fund Partnership entered into agreement to acquire 10% stake in New Hua Du Supercenter Co.,Ltd. (SZSE:002264) for approximately CNY 550 million on September 26, 2017. The offer per share is CNY 8 per share. In a related transaction New Huadu Industrial Group Co., Ltd. will also partner with Hangzhou-based Alibaba Zetai Information Technology to invest approximately CNY 100 million each for a 50% stake in a newly formed JV Fujian Xinhe Network Technology, which will combine each company's resources to invest in the creation and operation of new retail stores in Fujian. Fangda Partners acted as legal advisor to Alibaba (Chengdu) Software Technology Co., Ltd and Hangzhou Hanyun Xinling Equity Investment Fund Partnership. Alibaba (Chengdu) Software Technology Co., Ltd and Hangzhou Hanyun Xinling Equity Investment Fund Partnership completed the acquisition of 10% stake in New Hua Du Supercenter Co.,Ltd. (SZSE:002264) on January 19, 2018.