Zhuhai Huafa Entity Industrial Investment Holdings Co., Ltd. signed an agreement to acquire an additional 9.05% stake in Advanced Fiber Resources (Zhuhai), Ltd. (SZSE:300620) from Infinimax Assets Limited and Pro-Tech Group Holdings Limited for approximately CNY 440 million on January 16, 2021. As part of the transaction, Infinimax Assets will sell 6.05 million shares and Pro-Tech will sell 3.8 million shares of Advanced Fiber Resources at CNY 45 per share. Post the transaction, Zhuhai Huafa Entity Industrial Investment Holdings will hold 23.95%. Infinimax Assets and Pro-Tech ownership will reduced to 18.73% and 10.67% respectively. The transaction has been approved by the Zhuhai State-owned Assets Supervision and Administration Commission, and compliance confirmation through the Shenzhen Stock Exchange is required before the transfer of shares agreement can be handled at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.