Lewoju Holding Group Company Limited agreed to acquire Hunan Richly Field Outlets Real Estate Limited from Richly Field China Development Limited (SEHK:313) for CNY 1 on February 9, 2022. Pursuant to the equity transfer agreement 1, the Lewoju Holding Group Company shall pay the Richly Field China Development the consideration of CNY 1, and shall assume all the liabilities of Hunan Richly Field Outlets Real Estate Limited as at the completion date 1. Hunan Richly Field Outlets Real Estate reported revenue of CNY 3.3 million, loss before taxation as approximately CNY 280 million and loss after taxation as approximately CNY 280 million for the period end on March 31, 2021. Completion 1 is conditional upon the following conditions being satisfied: the board of directors and shareholders of Hunan Richly Field Outlets Real Estate Limited passing the relevant resolution (s) to approve the equity transfer agreement 1 and the transactions contemplated thereunder in accordance with the articles of association of Hunan Richly Field Outlets Real Estate Limited; the board of directors of the Sellers passing the relevant resolution(s) to approve the equity transfer agreement 1 and the transactions contemplated thereunder; the board and the shareholders passing the relevant resolution(s) to approve the
equity transfer agreement 1 and the transactions contemplated thereunder in accordance with the Company's articles of association and the Listing Rules; and obtain approval from the Stock Exchange in an appropriate manner within 120 calendar days from the date of the equity transfer agreement 1 becoming effective. As of February 9, 2022, the transaction has been approved by the board of directors and shareholders of Hunan Richly Field Outlets as well as the board of directors of Richly Field China Development. All formalities required for registration of equity transfer must be completed within 10 days after the equity transfer agreement 1 comes into effect. Completion 1 takes place when equity transfer is completed. Within 5 days after the Lewoju Holding Group obtains the sale shares 1, the Sellers and the Lewoju Holding Group shall complete the delivery procedures regarding Hunan Richly Field Outlets Real Estate.

Lewoju Holding Group Company Limited completed the acquisition of Hunan Richly Field Outlets Real Estate Limited from Richly Field China Development Limited (SEHK:313) for CNY 1 on April 14, 2022. All conditions precedent under the Equity Transfer Agreements have been fulfilled.