Wang Liufang signed a share transfer agreement to acquire 5.99% stake in Changzhou Tenglong AutoPartsCo.,Ltd. (SHSE:603158) from Tenglong Technology Group Co., Ltd. for approximately CNY 200 million on August 13, 2020. As per terms, 13 million shares will be acquired at CNY 20.56 per share. The consideration will be paid in three installments, CNY 30 million within 3 working days after the signing of this agreement, CNY 170 million within 10 working days after obtaining the Shanghai Stock Exchange's compliance review confirmation for the share transfer and the balance CNY 67.3 million within 10 months after the completion of the transfer. Tenglong Technology Group Co., Ltd. holds 81.2 million shares in Tenglong Technology Group Co., Ltd. and post-completion will hold 68.2 million shares. Wang Liufang completed the acquisition of 5.99% stake in Changzhou Tenglong AutoPartsCo.,Ltd. (SHSE:603158) from Tenglong Technology Group Co., Ltd. on August 26, 2020.