February 2011, Beijing Shang Bo Ya Consultant Limited (Beijing Shang Bo Ya) successfully acquired 92% equity of Beijing Xin Bo Cheng Real Estate Development Co., Ltd. (Beijing Xin Bo Cheng). As a result, Beijing Shang Bo Ya has obtained control over the “Yun Feng Zhuang Yuan”, a project of villa, luxury residences and hotels located in the Miyun county of Beijing.

Jingtian & Gongcheng acted for Beijing Shang Bo Ya in the transaction.