Hutong Wuyuan No. 1 Private Securities Investment Fund, a fund managed by Ningbo Hutong Private Fund Management Partnership Enterprise (Limited Partnership) agreed to acquire 5.98% stake in Shanghai Smith Adhesive New Material Co.,Ltd from Zhou Xiaodong for CNY 113 million.

Shanghai Smith Adhesive New Material Co Ltd is a China-based company mainly engaged in the research, development, production and sales of various industrial adhesive materials, electronic adhesive materials, functional film materials and special paper. Its products are mainly used in painting masking, bonding, fixing, protection, conduction and insulation in architectural decoration, automobile manufacturing and car beauty, electronic and electrical product manufacturing, furniture manufacturing, stationery, packaging, aviation high-speed rail and other fields. The Company distributes its products in the domestic market and overseas markets.