Beijing New Building Materials Public Limited Company (SZSE:000786) entered into an agreement to acquire remaining 30% stake in Beixin Yuwang Waterproof Technology Group Co., Ltd. from Liu Zhiguo for approximately CNY 100 million on March 30, 2021. In a related transitions, Beijing New Building Materials Public Limited Company also agreed to acquire remaining 30% stakes in Beixin Yuwang Waterproof Technology (Guangdong) Co., Ltd. Beixin Yuwang Waterproof Technology (Sichuan) Co., Ltd., Beixin Yuwang Waterproof Technology (Anhui) Co., Ltd., Beixin Yuwang Waterproof Technology (Hubei) Co., Ltd., Beixin Yuwang Waterproof Engineering Co., Ltd., Panjin Yuwang Rubber Products Co., Ltd., Panjin Yuwang Chemical Fiber Co., Ltd. from Liu Zhiguo. for approximately CNY 350 million. Within 5 working days after the equity transfer agreement becomes effective, Beijing New Building Materials will pay 30% of the consideration and the remaining balance will pay within 5 working days after completing the registration of the industrial and commercial change of the equity transfer. Post the transaction, Beixin Yuwang Waterproof Technology Group will become a wholly owned subsidiary of Beijing New Building Materials Public Limited Company. Beixin Yuwang Waterproof Technology Group has total assets of CNY 910.3 million and net assets of CNY 184.4 million as of February 28, 2021 and Beixin Yuwang Waterproof Technology Group generated the revenue of CNY 967 million and net profit of CNY 78.3 million for the year ended December 31, 2020. The transaction has been approved by the Board of Directors of Beijing New Building Materials Public Limited Company.