Taishan Fiberglass Inc. intents to acquire 49.99% stake in Sinoma Jinjing Fiber Co., Ltd. from Shandong Jinjing Science and Technology Stock Co., Ltd. (SHSE:600586) and Zibo High-tech City Investment Operation Group Co., Ltd. for CNY 84.5 million on February 26, 2021. Taishan Fiberglass Inc. will acquire Sinoma Jinjing Fiber Glass Co., Ltd.’s 48.05% and 1.94% stakes from Shandong Jinjing Science and Technology Stock Co., Ltd. and Zibo High-tech City Investment Operation Group Co., Ltd. for CNY 81.1 million and CNY 3.27 million respectively. The purchase price is paid in phases; In the first phase, within ten working days from the effective date of this agreement, the first phase shall be paid CNY 81.16 million in the second phase, within ten working days after the date of the delivery review report, the second phase of equity transfer price shall be paid. In a related transaction Taishan Fiberglass Inc., agreed to acquire 50.01% stake in Sinoma Jinjing Fiber Glass Co., Ltd.’s from China National Building Material Co., Ltd. for CNY 84.4 million. For the period ended December 31, 2021, Sinoma Jinjing Fiber Co., Ltd. reported total assets of CNY 963 million, negative net assets of CNY 80.4 million, Revenues of CNY 473 million, operating loss of CNY 26.6 million and net loss of CNY 24.8 million. This transaction has been approved in the 22nd Extraordinary Meeting of Sinoma Science & Technology Co., Ltd. 6th Directorate, and is subject to the Shareholders’ Approval. The transaction was approved by Shandong Jinjing Science and Technology seventh board of directors and does not need to be submitted to Shandong Jinjing Science and Technology Stock Co., Ltd. shareholders meeting for deliberation.