Yongkang Small and Micro Enterprise Park Investment Construction Co., Ltd. signed the share transfer agreement to acquire Zhejiang Daoming Kechuang Industrial Co., Ltd. from Daoming Optics & Chemical Co., Ltd. for CNY 630 million on November 9, 2022. Equity consideration of approximately CNY 460 million will be offset against receivables owned by Daoming Optics & Chemical to Zhejiang Daoming Kechuang Industrial. For the period ended August 31, 2022, Zhejiang Daoming Kechuang reported total assets of CNY 1.52 billion and net assets of approximately CNY 300 million. Daoming Optics & Chemical board approved the deal and shareholders approval is pending. As on November 28, 2022, Daoming Optics&Chemical Co.,Ltd held the first extraordinary general meeting of shareholders, and reviewed and approved.

Yongkang Small and Micro Enterprise Park Investment Construction Co., Ltd. completed the acuqisition of Zhejiang Daoming Kechuang Industrial Co., Ltd. from Daoming Optics & Chemical Co., Ltd. on November 28, 2022. Recently, Daoming Optics&Chemical has received third phase transfer consideration of CNY 80 million. As of January 4, 2023, Daoming Optics&Chemical has received fourth phase transfer consideration of CNY 47 million.