[Sanmu Group: planning to acquire 100% stake in Qingdao Xinwan Real Estate] May 30, Sanmu Group announced that the company plans to acquire 100% equity in Qingdao Xinwan Real Estate Development Co., Ltd., the parent company of Qingdao Longsen, in order to complete the overall acquisition of the relevant land, and plans to convert the prepaid land payment of 466 million yuan into an advance payment for equity acquisition.