EVPS Ningbo Energy Storage System Co., Ltd. signed a share transfer agreement to acquire 21.1% stake in Guangdong Songfa Ceramics Co.,Ltd. (SHSE:603268) from Lin Daofan for approximately CNY 630 million on June 11, 2023. As reported, Lin Daofan intends to transfer 26,199,617 shares of in Guangdong Songfa Ceramics Co.,Ltd. at a price per share of approximately CNY 23.86. 40% of the total share transfer price amounting to CNY 250 million will be paid within 60 days from the day when this agreement takes effect and the compliance confirmation letter issued by the stock exchange is obtained.

Within 20 days after the transfer of Guangdong Songfa Ceramics Co. shares is completed, EVPS Ningbo Energy Storage System Co. will pay Lin Daofan the remaining 60% of the total transfer price amounting to CNY 375 million.

Following the sale, Lin Daofan will hold 0.24% stake in Guangdong Songfa Ceramics Co.,Ltd.