Hubei Hongtai Group Co., Ltd. Signed the share transfer agreement to acquire additional 5.99% stake in Tianfeng Securities Co., Ltd. (SHSE:601162) from Hubei United Development Investment Group Co.,Ltd. for approximately CNY 1.7 billion on September 30, 2022. Full price will be paid within 30 days of shares transferred. Total number of shares to be acquired is 519,359,753 shares.

The transaction is subject to approval from CSRC. As on December 28, 2022, Transaction has been approved by CSRC