Shitong Investment (Shandong) Co., Ltd entered into a share transfer agreement to acquire 17.6% stake in Baotou Huazi Industry Co., Ltd (SHSE:600191) from Baotou Shichuang Economic Technology Development Co. Ltd for approximately CNY 400 million on November 15, 2021. Under the terms of transaction, Baotou Shichuang Economic Technology Development Co. Ltd. agrees to transfer a total of 85,404,925 shares for CNY 4.74 per share. The transferee shall pay the share transfer price to the transferor in two installments. First installment of CNY 81 million will be paid within 3 working days after the conditions are fulfilled. Remaining 80% of CNY 324 million will be paid Within 25 working days after the transferee has paid the first share transfer price. In related transaction, Hainan Shengtai Chuangfa Industrial Co., Ltd and Binzhou Kangxing Grain and Oil Trading entered into a share transfer agreement to acquire 36.7% stake in Baotou Huazi Industry Co., Ltd from Baotou Shichuang Economic Technology Development Co. Ltd., and Baotou Prairie Sugar (Group) Co., Ltd for approximately CNY 800 million on November 15, 2021. After the transferee has paid and completed the second share transfer price, the transferor shall cooperate with the transferee to complete the transfer and registration procedures of the target shares in the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. the transferor shall pay the transferee RMB 10,000,000 or an amount equivalent to 0.05%/day of the share transfer price paid by the transferee (whichever is higher) as the liquidated damages. As of the signing date of the agreement, Shichuang Economic holds 85,504,925 shares of the company, accounting for the company's total share capital OF 17.61%. The transfer of shares under this agreement requires compliance confirmation by the Shanghai Stock Exchange before proceeding with the transfer procedures of the share agreement transfer at the Shanghai Branch of China Securities Depository and Clearing Co., Ltd.

Shitong Investment (Shandong) Co., Ltd completed the acquisition of 17.6% stake in Baotou Huazi Industry Co., Ltd (SHSE:600191) from Baotou Shichuang Economic Technology Development Co. Ltd on May 10, 2022.