Liaoning Meicai New Material Co., Ltd. signed Investment Framework Agreement to acquire Anshan HOP Technology Co.Ltd. on March 10, 2023. The overall valuation of the Anshan HOP Technology is about CNY 126 million (the specific amount will be calculated after due diligence). The agreement signed this time is a framework agreement for equity acquisition and does not need to be submitted to the company's board of directors and shareholders' meeting for review. As of April 14, 2023, Liaoning Meicai New Material Co., Ltd. signed share transfer agreement to acquire Anshan HOP Technology Co.Ltd. from Anshan Hifichem Co., Ltd. (SZSE:300758), Zhejiang Trust Chem Technology Group Co., Ltd., Liaoning Xinda Project Management Center (Limited Partnership), Zhang Ying, Guo Yan, and other shareholders. Anshan Hifichem Co., Ltd trasnfer his 16.6667% stake for CNY 21 million. Liaoning Meicai New Material Co., Ltd. will acquire all equity in the target at the price of CNY 2.80 per investment amount. Anshan HOP Technology Co.Ltd. reported total assets and net assets of CNY 151.88 million and CNY 58.4 million respectively on March 31, 2023. Anshan Hifichem Co., Ltd. board of directors approved the transaction. The first equity transfer payment 49% of the total equity transfer payment of each original shareholder shall be paid to the original shareholders within 10 working days from the signing date of this agreement. The second equity transfer payment, within 10 working days from the date when this agreement takes effect and all the prerequisites of this agreement are met or waived in writing by the buyer, shall pay 31% of the total payment. The third equity transfer payment, within 10 working days after the the industrial and commercial registration of this equity transfer is completed. On April 14, 2023, the 23rd session of Malion New Materials Co., Ltd.'s 4th directorate and the 19th session of Malion New Materials Co., Ltd.'s 4th supervisory board approved the transaction.