Shanghai Kaiquan Pump (Group) Co., Ltd. agreed to acquire 10.1% stake in Shanghai HuaRui Bank Co.,Ltd. from Shanghai Metersbonwe Fashion and Accessories Co., Ltd. (SZSE:002269) for approximately CNY 420 million on April 26, 2021. On June 22, 2021, Supplementary Agreement to the Share Transfer Agreement was signed, stipulating that within 5 working days from the effective date of the agreement, the first equity transfer payment totaling RMB 127.26 million shall be paid, accounting for 30% of the entire amount; within 10 working days from the date of the formal entry into force of this agreement and receipt of the above-mentioned first share transfer payment or before August 20, 2021 (whichever day is late),shall made registration Procedures for the transfer and registration of shares. Within 5 days from the date of completion of the transfer or before August 31, 2021 (whichever is late), the second equity transfer payment totaling RMB 84.84 million shall be paid, accounting for 20 % of the transaction amount; after HuaRui bank completing the filing and registration procedures with the market supervision and administration department for the change of shareholders and the changes in the articles of association involved in this share transfer, shall pay the third share transfer amount of RMB 84.84 million in total before December 31, 2021, i.e.20% of all transaction amounts. The fourth share transfer payment shall be paid before July 1, 2022, totaling RMB 127.26 million, accounting for 30% of the total transaction amount. Shanghai HuaRui Bank has total assets of CNY 43.4 billion, shareholders' equity of CNY 4.2 billion, operating revenue of CNY 1.2 billion and net profit of CNY 203.3 million for the year ended December 31, 2020. The transaction has been approved by the Board of Directors of Shanghai Metersbonwe Fashion and Accessories on June 22, 2021. The transaction is subject to regulatory approval, shareholders of Shanghai Kaiquan Pump and Shanghai Metersbonwe Fashion and Accessories. The transaction was approved by the shareholders of Shanghai Kaiquan Pump (Group) Co., Ltd. on April 29, 2021. Zhongtai Securities Co., Ltd. (SHSE:600918), Grandall Law Firm, Xigema Certified Public Accountants Co., Ltd. acting as a financial advisor, legal advisor and accountant to Shanghai Metersbonwe Fashion and Accessories for the transaction.

Shanghai Kaiquan Pump (Group) Co., Ltd. completed the acquisition of 10.1% stake in Shanghai HuaRui Bank Co.,Ltd. from Shanghai Metersbonwe Fashion and Accessories Co., Ltd. (SZSE:002269) on April 11, 2023.