Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd entered into a share transfer agreement to acquire 6.02% stake in Gifore Agricultural Science & Technology Service Co., Ltd. (SZSE:300022) from Wang Xinming and Tibet Shannan Shenyu Venture Capital Management Partnership for approximately CNY 110 million on May 6, 2020. Under the terms, Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd will acquire 22.9 million shares of Gifore Agricultural Science & Technology at an offer price of CNY 4.80 per share. Within 3 working days after obtaining the confirmation document issued by the Shenzhen Stock Exchange on this share transfer, Chengdu Economic&Technological shall deposit the full amount of the share transfer into co-managed account 1 and pay the seller, before the completion of the registration procedures for the transfer of Gifore’s share, 90% of this share transfer payment, that is CNY 98,896,243.68, to the account designated by the seller. Within 3 working days after the registration of the transfer of shares was completed, Chengdu Economic&Technological will pay the balance to the account designated by the seller.