Newland Science and Technology Group Co., Ltd. signed an equity transfer agreement to acquire a 95% stake in Fujian Newland Real Estate Co., Ltd. from Newland Digital Technology Co.,Ltd. (SZSE:000997) for approximately CNY 110 million on January 22, 2021. . After the completion of this equity transfer, Newland Digital Technology Co.,Ltd. will no longer hold the equity stake in Fujian Newland Real Estate Co., Ltd. On January 22, 2021, Newland Digital Technology Co.,Ltd. held the 42nd meeting of the seventh directorate and approved the transaction. This deal still needs to be approved by the shareholders meeting. For year ended 2020, Fujian Newland Real Estate Co., Ltd. reported total assets of CNY 183.6627 million, net assets of CNY 113.4209 million, revenue of CNY 50.9385 million, Operating loss of CNY 1.1578 million and net loss of CNY 19.9466 million.