Shanghai Lishiyuan Investment Management Co., Ltd. signed a contract to acquire Xinxiang Songjiang Real Estate Development Co., Ltd. from Tianjin Songjiang Co., Ltd. (SHSE:600225) and Shenzhen Meijiangnan Investment Development Co., Ltd. for CNY 54.5 million on December 31, 2013. Tianjin Songjiang Co., Ltd. and Shenzhen Meijiangnan Investment Development Co., Ltd. will transfer its 51% and 49% stakes in Xinxiang Songjiang Real Estate Development Co., Ltd. respectively through an auction at the Tianjin Property Rights Exchange. As of June 30, 2013, Xinxiang Songjiang Real Estate Development Co., Ltd. has total assets of CNY 403.69 million, total liabilities of CNY 397.58 million and net assets of CNY 6.11 million.

The Board of Directors of Tianjin Songjiang Co., Ltd. approved the disposal.