Anhui Hongdian Capital Management Partnership (Limited Partnership) signed a Share Transfer Framework Agreement to acquire a 25% stake in Dongguan Huali Industries Co.,Ltd (SHSE:603038) from Tan Hongru for approximately CNY 750 million recently. Anhui Hongdian Capital Management Partnership (Limited Partnership) signed an Agreement to acquire a 25% stake in Dongguan Huali Industries Co.,Ltd (SHSE:603038) from Tan Hongru on September 22, 2023. The consideration is subject to the stipulations in the share transfer agreement formally signed by both parties. As part of the transaction, Tan Hongru plans to transfer 51,668,674 shares at a price of CNY 14.5156 per share of Dongguan Huali to Anhui Hongdian. Once the transaction is completion, it is promised that Tan Hongru and his concerted parties will give up the voting rights of the remaining 16.93% of the Dongguan Huali's shares. According to relevant laws and regulations, this transaction still needs to pass the review of the concentration of operators by the Anti-Monopoly Bureau (if necessary), obtain compliance confirmation from the Shanghai Stock Exchange, and perform procedures such as the registration of transfer of shares in Shanghai Branch of China Securities Depository and Clearing Co., Ltd. The transaction is subject to the signing of final share transfer agreement.

Anhui Hongdian Capital Management Partnership (Limited Partnership) completed the acquisition of 25% stake in Dongguan Huali Industries Co.,Ltd (SHSE:603038) from Tan Hongru on November 7, 2023.