Rongan Property Co., Ltd. (SZSE:000517) won the bid to acquire Right of Land in Ningbo for approximately CNY 475 million on January 29, 2016. As on January 17, 2017 the deal was approved by board of directors of Rongan Property. Rongan Property Co., Ltd. (SZSE:000517) cancelled the acquisition of Right of Land in Ningbo on January 29, 2017.