Changxing Tianyue Corporate Management Co., Ltd. entered into sale and purchase agreement to acquire additional 20% stake in Dali Gangxing Property Company Limited from Prosperity International Holdings (H.K.) Limited (SEHK:803) for CNY 24 million on April 25, 2019. The consideration for the acquisition is payable by Prosperity International Holdings (H.K.) Limited to Changxing Tianyue Corporate Management Co., Ltd. within 90 days after the date of the sale and purchase agreement. Post completion, Prosperity International Holdings (H.K.) Limited continued to own 30% equity interests Dali Gangxing Property Company Limited. On June 24, 2019, the board of Prosperity International Holdings (H.K.) Limited approved the transaction. The gross proceeds from the disposal of Dali Gangxing Property Company Limited will be used as partial repayment of the outstanding loans by Prosperity International Holdings (H.K.) Limited. Changxing Tianyue Corporate Management Co., Ltd. completed the acquisition of additional 20% stake in Dali Gangxing Property Company Limited from Prosperity International Holdings (H.K.) Limited (SEHK:803) for CNY 24 million on May 15, 2019.