Zhongchuang Zunhui Environmental Technology Co., Ltd. agreed to acquire 9.69% stake in Xiamen Zhongchuang Environmental Technology Co., Ltd. (SZSE:300056) from Qiu Guoqiang for approximately CNY 310 million on September 15, 2020. Zhongchuang Zunhui Environmental entered into an agreement to acquire 9.69% stake in Xiamen Zhongchuang Environmental from Qiu Guoqiang on September 23, 2020. Zhongchuang Zunhui signed the share transfer supplemental agreement to acquire 5.19% stake in Xiamen Zhongchuang Environmental Technology Co., Ltd. (SZSE:300056) from Qiu Guoqiang for approximately CNY 167 million on January 4, 2022. Zhongchuang Zunhui Environmental Technology Co., Ltd. will acquire 37.37 million shares at CNY 8.35 per share. The CNY 15 million of the share transfer price shall first be paid by Zhongchuang Zunhui Environmental Technology Co., Ltd. to Qiu Guoqiang for the purpose of paying the individual taxes and other taxes involved in the transfer of the underlying shares. This will be paid one-time within 5 days after the transfer obtains the Shenzhen Stock Exchange's consent transfer confirmation letter and after the tax authority issues the notice of payment of the share transfer tax. The CNY 297.05 million of the share transfer price shall be paid by Zhongchuang Zunhui Environmental on the account designated by Qiu Guoqiang or the payment method shall be separately agreed upon after the transfer of the target shares is completed. The acquiring shares will change from 37.37 million to 20 million shares, accounting for 5.19% of the Xiamen Zhongchuang Environmental's total shares. The consideration of CNY 12 million shall first be paid by Zhongchuang Zunhui Environmental to Qiu Guoqiang for the purpose of paying the personal tax and other taxes involved in the transfer of the shares, and shall be paid within 15 working days after the signing of this agreement, and CNY 155 million in shall be paid by Zhongchuang Zunhui Environmental to the account designated by the Qiu Guoqiang after completion. Post completion of the transaction, Zhongchuang Zunhui Environmental Technology Co., Ltd. will hold 9.69% stake in Zhongchuang Zunhui Environmental Technology Co., Ltd. After completion, Zhongchuang Zunhui Environmental will hold 5.19% stake in Zhongchuang Zunhui Environmental.

Zhongchuang Zunhui Environmental Technology Co., Ltd. completed the acquisition of 5.19% stake in Xiamen Zhongchuang Environmental Technology Co., Ltd. (SZSE:300056) from Qiu Guoqiang on February 18, 2022. Zhongchuang Zunhui now holds 5.19% stake and Qiu Guoqiang's stake now changed from 9.97% to 4.79% in Xiamen Zhongchuang Environmental.