Shenzhen Urban Transport Planning Center Co., Ltd. (SZSE:301091) agreed to acquire 61.4759% stake in Nanjing Institute of City & Transport Planning Co., Ltd. from a group of shareholders for CNY 99.3 million on October 25, 2022. This transaction was approved by the 21st session of the company's 1st directorate and the 8th session of the company's 1st supervisory board. Within ten working days from the effective date of the equity transfer agreement, 30% of the total transaction price (totaling CNY 29,803,508) shall be paid to the transfer parties;30% of the total transaction price (totaling CNY 29,803,508) shall be paid to all parties within 25 working days from the date of completing the registration of the change of the shareholding industry and commerce;Before May 31, 2023, Shenzhen Urban Transport Planning Center will pay 10% of the total transaction price (totaling CNY 9,934,503) to the transfer parties for the third phase of the transaction.

If the performance commitment compensation obligation is triggered, the corresponding amount of compensation shall be deducted. Before May 31, 2024, Shenzhen Urban Transport Planning Center will pay 15% of the total transaction price (totaling CNY 14,901,754) to the transfer parties for the fourth instalment of the transaction amount. If the performance commitment compensation obligation is triggered, the corresponding amount of compensation shall be deducted.

Before May 31, 2025, Shenzhen Urban Transport Planning Center will pay 15% of the total transaction price (totaling CNY 14,901,754) to the transfer parties for the fifth phase of the transaction. If the performance commitment compensation obligation is triggered, the corresponding amount of compensation shall be deducted.