Gao Zongbiao signed a share transfer agreement to acquire an 8.5% stake in China Dive Company Limited (SZSE : 300526) from Shenzhen Juemeng Management Advisory Co., Ltd. for approximately CNY 110 million on May 17, 2022. Pursuant to the transaction, Gao Zongbiao will pay CNY 6.365 per share for 17,361,163 shares, representing 8.5% stake in China Dive Company. Within 10 working days from when the shares are released from Shenzhen Juemeng Management Advisory Co., Ltd.'s pledge, Shenzhen Juemeng Management Advisory Co., Ltd. will process the transfer of business registration. Within 20 working days from when the shares are released from Shenzhen Juemeng Management Advisory Co., Ltd.'s pledge, Gao Zongbiao will pay the full amount.