Su Huan agreed to acquire 6% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd (SHSE:603959) from Tibet Xinhai New Venture Capital Co., Ltd. for CNY 520 million on September 14, 2021. In a related transaction the controlling shareholder sells another 5% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd. Su Huan will acquire 29.4 shares at CNY 17.52 per share. The payment arrangement is: The first share transfer price is CNY 100 million, and the transferee shall make a lump-sum payment to the bank account designated by the transferor within the next working day after obtaining the Shanghai Stock Exchange's compliance review confirmation letter. The second share transfer price of CNY 150 million shall be paid by the transferee in one lump sum to the bank account designated by the transferor within 5 working days from the transfer date of the share transfer. The third share transfer price is CNY 265.4 million and the transferee shall make a lump-sum payment to the bank account designated by the transferor before December 31, 2022.