Hubei Huitian New Materials Co., Ltd. (SZSE:300041) signed the equity acquisition framework agreement to acquire 51% stake in Anqing Hualan Technology Co., Ltd. from Huangshan Supply and Marketing Group Co., Ltd. and others for CNY 110 million on December 5, 2023. Hubei Huitian New Materials Co., Ltd. (SZSE:300041) signed Share transfer agreement to acquire 51% stake in Anqing Hualan Technology Co., Ltd. from Huangshan Supply and Marketing Group Co., Ltd. and others on February 18, 2024. As of January 26, 2024, Hubei Huitian New Materials announced to acquire 51% stake in Anqing Hualan Technology Co., Ltd. from Huangshan Supply and Marketing Group Co., Ltd., Huangshan Hongdao Investment Management Co., Ltd., Lu Biao and Zhang Sen for approximately CNY 110 million. Hubei Huitian will acquire 34% stake from Huangshan Supply and Marketing for CNY 74.8 million, 9% stake from Huangshan Hongdao Investment Management for CNY 19.8 million, 6% stake from Lu Biao for CNY 13.2 million and 2% stake from Zhang Sen for CNY 4.4 million. Anqing Hualan Technology has revenue of CNY 214.29 million, EBIT of CNY 11.83 million, total assets of CNY 149.53 million, total common equity of CNY 124.26 million and net income of CNY 11.68 million as of December 31, 2023. Within 10 days from receiving the auction certificate and paying the corresponding amount, Hubei Huitian New Materials will pay Huangshan Hongdao Investment Management Co., Ltd., Lv Biao, and Zhang Sen 50% of the transfer price. The source of funds for this equity acquisition is Hubei Huitian New's own or self-raised funds. On January 26, 2024, the Equity Transfer Agreement for this transaction has not yet been signed, Hubei Huitian New Materials' Board of Directors approved the Acquisition, approved by the board of directors of Huangshan Supply and Marketing Group, the competent authority, and has been approved by the competent government departments, equity transfer was reviewed and approved by the shareholders? meeting of Huangshan Hongdao Investment Management and The original shareholders of the target company have signed a commitment to give up their preemptive rights in this equity transfer.

Hubei Huitian New Materials Co., Ltd. (SZSE:300041) completed the acquisition of 51% stake in Anqing Hualan Technology Co., Ltd. from Huangshan Supply and Marketing Group Co., Ltd., Huangshan Hongdao Investment Management Co., Ltd., Lu Biao and Zhang Sen on April 2, 2024.