Xu Huigong signed the share transfer agreement to acquire 5.01% stake in Fangda Special Steel Technology Co., Ltd. (SHSE:600507) from Fang Wei and Jiangxi Fangda Steel Group Co., Ltd for approximately CNY 820 million on June 24, 2022. Under the terms, Xu Huigong will acquire 116.6204114 million shares and 0.62 million shares at a price of CNY 6.98 per share from Fang Wei and Jiangxi Fangda Steel Group Co., Ltd.