Guangdong Tianan New Material Co., Ltd. (SHSE:603725) agreed to acquire 66% stake in Heyuan Dongyuan Eagle Ceramics Co., Ltd. from Guangdong Eagle Brand Group Co.,Ltd for approximately CNY 120 million on March 16, 2021. Guangdong Tianan New Material Co., Ltd. will pay 30% of the purchase price within five working days from the date of signing the Property Transaction Contract, 50% within five working days from the effective date of the Equity Transaction Contract and the remaining price shall be provided by the listed company within five working days from the date when the Equity Transaction Contract is signed and effective. For the year ending December 31, 2020, total asset, net asset, revenue, total profit and net profit of Heyuan Dongyuan Eagle Ceramics Co., Ltd. was approximately CNY 470 million, approximately CNY 104 million, approximately CNY 356 million, approximately CNY 30 million and approximately CNY 25 million respectively. On March 19, 2021, Guangdong Tianan New Material Co., Ltd. held the 12th Meeting of the 3rd Directorate, and approved the acquisitions. The transaction is subject to the second approval of the Guangdong Tianan New Material Co., Ltd. Directorate after the target assets’ audit and assessment work are completed, approval from its shareholders, approval of the the State Administration for Market Regulation’s Business Concentration Review and Other Necessary Approvals. Liu Qiuming, Shen Xiaoyi, Gu Zhiwen, Chen Yunbo and Dou Jianyuan of Everbright Securities Company Limited, Gu Gongyun, Yang Haifeng and Chen Yujing of Shanghai Allbright Law Firm, Yang Zhiguo, Zhang Ning and Guo Huasai of BDO China SHU LUN PAN Certified Public Accountants LLP, and Hu Dongquan, Wu Wenxin and Xu Pingping of Zhonglian International Evaluation Consulting Co., Ltd represented Guangdong Tianan New Material Co., Ltd. in the transaction. Guangdong Tianan New Material Co., Ltd. (SHSE:603725) completed the acquisition of 66% stake in Heyuan Dongyuan Eagle Ceramics Co., Ltd. from Guangdong Eagle Brand Group Co.,Ltd on August 31, 2021.