Yunnan Jinggu Forestry Co.,Ltd (SHSE:600265) agreed to acquire 51% stake in Tang County Huiyin Wood Industry Co., Ltd. from Cui Huijun, Wang Lancun, Hebei Industrial Technological Transformation Development Fund Center (Limited Partnership) and Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center (Limited Partnership) managed by Tianjin Sitong Equity Investment Fund Management Co., Ltd. for CNY 270.3 million on September 14, 2022. Cui Huijun holds 20.792%, Wang Lancun holds 20792% stake, Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center 7.692% stake and Hebei Industrial Technological Transformation Development Fund Center holds 1.724% stake in ang County Huiyin. Transaction has been approved by Yunnan Jinggu's board of directors.

Huaying Securities Co., Ltd., acted as financial advisor, AnJie Law Firm acted as legal advisor and Mazars Certified Public Accountants LLP acted as accountant to Yunnan Jinggu Forestry. Huachuang Securities Co.,Ltd acted ass financial advisor and Beijing Zhonglun W&D (Jinan) Law Firm acted as legal advisor to Yunnan Jinggu Forestry Co.,Ltd. As of January 12, 2023 Cui Huijun, Wang Lancun, Jingbao Fund, and Technological Transformation Fund agreed to waive the right of first refusal for other parties to transfer equity. On January 12, 2023, Tang County Huiyin Wood Industry Co., Ltd. held a shareholders meeting, and approved the transfer.