Huang Yixian agreed to acquire 5% stake in GuangDong SongYang Recycle Resources CO.,LTD (SHSE:603863) from Wang Zhuangpeng and Cai Jiantao for CNY160 million on May 24, 2023. Within 5 working days from signing of the agreement, the buyer shall pay first installment amounting to CNY5 million by bank transfer to the bank account designated by the sellers. Upon sellers’ receipt of the transaction approval from the Shanghai Stock Exchange, within 5 working days, the buyer shall pay second installment amounting to CNY25 million by bank transfer to the bank account designated by the sellers. Upon completion of transferring of shares to the buyers at the China Securities Depository and Clearing Corporation Limited, within 5 working days, the buyer shall pay third installment amounting to CNY90 million by bank transfer to the bank account designated by the sellers. Upon completion of transferring of shares to the buyers at the China Securities Depository and Clearing Corporation Limited, within 30 working days, the buyer shall pay the remaining balance amounting to CNY41.3 million by bank transfer to the bank account designated by the sellers. This is subject to approval by the Shanghai Stock Exchange.

Huang Yixian completed the acquisition of 5% stake in GuangDong SongYang Recycle Resources CO.,LTD (SHSE:603863) from Wang Zhuangpeng and Cai Jiantao on June 16, 2023.