Li Mingfeng signed a share transfer agreement to acquire 8.55% stake in Fujian Fynex Textile Science & Technology Co., Ltd. (SHSE:600493) from Li Chunxing for CNY 100 million on July 2, 2021. As per terms, Li Mingfeng shall acquire 23.3 million shares of Fujian Fynex Textile Science & Technology Co., Ltd. As per terms, the shares will be sold at 10% off CNY 4.3 per share from the closing price of CNY 4.78 per share where Li Chunxing will transfer to his son Li Mingfeng. The parties to the agreement have not set any additional special conditions for this share transfer, have not signed any supplementary agreement, and the parties have not had the right to vote on the shares. Li Mingfeng completed the acquisition of 8.55% stake in Fujian Fynex Textile Science & Technology Co., Ltd. (SHSE:600493) from Li Chunxing on July 2, 2021.