Li Songqiang signed a equity share transfer agreement to acquire 8.7% stake in QingHai HuaDing Industrial CO.,LTD. (SHSE:600243) from Guangzhou Lianshun Technology Development Co., Ltd. for approximately CNY 150 million on December 24, 2022. Under the terms of agreement, Li Songqiang will acquire 38 million shares of QingHai HuaDing at the transfer price of CNY 4 per share. Before the signing of this agreement, shall pay the price of CNY 50,000,000 for this target share transfer as the earnest money for this transaction.

Within 5 working days after the completion of the transfer of the target shares, shall pay the consideration of CNY 102 million for the transfer of the target shares. Before this equity change, Guangzhou Lianshun Technology held 38.843 million shares of the listed company, accounting for 8.85% of the total share capital of the listed company. After this equity change, Guangzhou Lianshun Technology will hold 843,000 shares of the listed company, accounting for 0.19% stake in QingHai HuaDing.