Hengtong Group Co., Ltd signed a share transfer agreement to acquire 5% stake in Hengtong Optic-Electric Co., Ltd. (SHSE:600487) from Cui Genliang for CNY 2.1 billion on December 1, 2021. Under the terms of agreement, Hengtong Group Co., Ltd will acquire 118.1 million shares at CNY 18 per share.

Hengtong Group Co., Ltd completed the acquisition of 5% stake in Hengtong Optic-Electric Co., Ltd. (SHSE:600487) from Cui Genliang on December 28, 2021. Post completion, Hengtong Group hold 24.05% stake and Cui Genliang will hold 4.03% stake in Hengtong Optic-Electric Co. On December 28, 2021, the company received a notice from that the Transfer Registration Confirmation Letter issued by China Securities Depository and Clearing Co., Ltd., the transfer registration procedures agreed transfer of shares have been completed.