Shanghai Jielong Group Co., Ltd. signed an agreement to acquire an additional 88% stake in Shanghai Jielong Modern Printing & Paper Products Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited (SHSE:600836) for CNY 48.2 million on November 26, 2019. In related transactions, Shanghai Jielong Group Co., Ltd. signed several agreements to acquire 60% stake in Shanghai Jielong Iron-printing and Can-making Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited for CNY 9.8 million, 100% stake in Shanghai Guangming Information Management Technology Co., Ltd. from Shanghai Jielong Yongfa Printing & Packing Co. Ltd and Shanghai Jielong Industry Group Corporation Limited for CNY 1.1 million, 100% stake in Shanghai Jielong Pudong Colour Printing Company from Shanghai Jielong Industry Group Corporation Limited for approximately CNY 250 million, 100% stake in Shanghai Jielong 7111 Cultural Creative Development Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited for CNY 3.2 million, 100% stake in Shanghai Foreign Trade Jielong Colour Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited for approximately CNY 260 million, 100% stake in Shanghai Jielong Paierpu Packaging Technology Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited for CNY 25.3 million and 80.81% stake in Shanghai Jielong China Daily Printing Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited for CNY 29.3 million. Shanghai Jielong Pudong Colour Printing Company had total assets of CNY 74.12 million and net assets of CNY 41.29 million as at December 31, 2018. Shanghai Jielong Pudong Colour Printing Company had revenues of CNY 73.43 million, operating profit of CNY 1.27 million and net profit of CNY 2.92 million in year 2018. The transaction is subject to approval from Shanghai Jielong Industry Group Corporation Limited’s shareholders. On November 26, 2019, Shanghai Jielong Industry Group Corporation Limited’s 9th directorate approved the transaction in its 11th meeting. Shanghai Jielong Group Co., Ltd. cancelled the acquisition of an additional 88% stake in Shanghai Jielong Modern Printing & Paper Products Co., Ltd. from Shanghai Jielong Industry Group Corporation Limited (SHSE:600836) on November 26, 2020.