Shenzhen Changtong Hetai Investment Enterprise (Limited Partnership) agreed to acquire 90% stake in CYG Changtong New Material Co., Ltd. from Changyuan Group Ltd. (SHSE:600525) for CNY 82.8 million on May 29, 2020. CNY 20 million will be paid within 10 days since signing of the agreement. The remaining CNY 62.8 million will be paid within 60 days since signing of the agreement. The transaction been approved by the 36th Meeting of the 7th Board of Directors of Changyuan Group.