Pinrun FOF Pinren Phase 2 Private Securities Investment Fund, a fund managed by Zhejiang Pinrun Investment Management Co., Ltd. agreed to acquire 5% stake in Guangdong Bobaolon Co.,Ltd. (SZSE:002776) from Chen Weixiong and Chen Nana on July 27, 2020. The consideration will be paid in cash and in tranches. Under the terms, Chen Weixiong and Chen Nana will sell 19.7 million shares and 7.18 million shares of Guangdong Bobaolon Co.,Ltd. respectively. Pinrun FOF Pinren Phase 2 Private Securities Investment Fund, a fund managed by Zhejiang Pinrun Investment Management Co., Ltd. completed the acquisition of 5% stake in Guangdong Bobaolon Co.,Ltd. (SZSE:002776) from Chen Weixiong and Chen Nana on September 8, 2020. Registration of transfer of shares under the above agreement has been completed in Shenzhen Branch of China securities registration and Clearing Co., Ltd. on September 8, 2020, and the confirmation letter of securities transfer registration issued by Shenzhen Branch of China securities registration and Clearing Co., Ltd. has been received. After the completion of the share transfer procedures, Chen Weixiong holds 125 million shares accounting for 23.37% of the total share capital of the company; Chen Nana holds 85 million shares accounting for 15.85% of the total share capital of the company.