Bosun Tools Co., Ltd. (SZSE:002282) signed an equity transfer agreement to acquire an additional 2.08% stake in GRIPM Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership for CNY 9.7 million on April 12, 2017. Post completion, Bosun Tools Co., Ltd. will increase stake to 8.34% and West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership will hold no stake in GRIPM Advanced Materials Co., Ltd. In related transaction, Beijing Zhongyelian Energy Technology Co., Ltd. and Chengdu Aerospace Industry Internet Intelligent Manufacturing Industry Investment Fund Partnership agreed to acquire an additional 3.85% stake in GRIPM Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership on April 12, 2017.

For the year ended December 31, 2016, GRIPM Advanced Materials Co., Ltd. had total assets of CNY 565 million, net assets of CNY 461 million and revenues of CNY 1.17 billion. This transaction does not require the approval from the Bosun Tools Co., Ltd's directorate and stockholders.

Bosun Tools Co., Ltd. (SZSE:002282) cancelled the acquisition of an additional 2.08% stake in GRIPM Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership on April 12, 2018.