Shao Yutian agreed to acquire a 6.105% stake in Zhejiang Baida Precision Manufacturing Corp. (SHSE:603331) from Baida Holding Group Co., Ltd. and Taizhou Chuangli New Material Technology Co., Ltd. for for approximately CNY 130 million on January 19, 2023. In a related transaction, Hangzhou Zhonghu Private Equity Fund Management Co., Ltd. agreed to acquire 9.50% stake in Zhejiang Baida Precision Manufacturing Corp.

Baida Holding Group Co., Ltd. will sell 5.57 million and Taizhou Chuangli New Material Technology Co., Ltd. will sell 5.30 million share.