An unknown buyer entered into a sale and purchase agreement to acquire a 40% stake in Xin-shan Ang-de (Zibo) Materials Co., Ltd. from EnGro Corporation Limited (SGX:S44) for CNY 1 on May 20, 2021. Upon completion of the divestment, Xin-shan Ang-de (Zibo) Materials Co., Ltd. will cease to be an associate of the Company. The unaudited net assets value of Xin-shan Ang-de (Zibo) Materials was CNY 4.6 million as at June 30, 2020. The Divestment is not expected to have any material impact on the earnings per share and net tangible asset value per share of the Group for the financial year ending December 31, 2021.