Sichuan Port and Shipping Investment Group Co., Ltd. agreed to acquire 25.01% stake in Shanghai Ace Investment & Development Co., Ltd. (SHSE:603329) from Jiangsu Ace Investment Group Co., Ltd. for approximately CNY 650 million on October 12, 2021. Under the terms Sichuan Port and Shipping Investment Group Co., Ltd. will acquire 39.7 million shares. within 5 working days after this agreement is signed and effective, Sichuan Port and Shipping Investment Group Co., Ltd. will pay 40% of the share transfer price, 259.13 million, Sichuan Port and Shipping Investment Group Co., Ltd. will pays 50% of the share transfer payment on the day when the transfer and registration of the target shares are completed of CNY 323.9 million, and the remaining 10% of the share transfer payment of CNY 64.79 million will be paid within 5 working days after the completion of the re-election of the board of directors, the board of supervisors. The transaction is subject to The Sichuan Provincial State-owned Assets Supervision and Administration Commission being reviewed and approved, The Sichuan Provincial State-owned Assets Supervision and Administration Commission being reviewed and approved and Obtaining the compliance confirmation from the Shanghai Stock Exchange on this share transfer. On December 21, 2021, Shanghai Ace Investment & Development Co., Ltd received the "Concentration of Undertakings Anti-monopoly Review Not Implementing Further Review Decision" issued by the State Administration of Market Supervision and Administration forwarded by Sichuan Port Investment. The transaction is still pending to be reviewed and approved by the Sichuan Provincial State-owned Assets Supervision and Administration Commission. The transaction was approved by the acquirer's board and Jiangsu Ace Investment Group Co., Ltd. shareholders.

Sichuan Port and Shipping Investment Group Co., Ltd. cancelled the acquisition of a 25.01% stake in Shanghai Ace Investment & Development Co., Ltd from Jiangsu Ace Investment Group Co., Ltd. on March 14, 2022. In view of the fact that the effective conditions of the “Share Transfer Agreement” and other transaction agreements have not yet been fulfilled, after friendly negotiation by all parties, it has been decided to terminate all agreements related to this transaction.