Shanghai Shangfeng Group Co., Ltd. agreed to acquire 4% of stake in Hangzhou Hopelead Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. (SZSE:300048) for CNY 9.5 million on February 18, 2022. Within 5 working days after the completion of equity change, the buyer must pay the transfer price. If the payment is overdue, the buyer shall pay 0.22‰ (annualized interest rate 8%) of the overdue payment amount to the seller for each overdue day until the payment completion date.

Hangzhou Hopelead has a total assets of CNY 52 million and net assets of CNY 30 million as of First 3 quarters of 2021. 18th session of Hiconics Eco-energy 5th directorate approved the Proposal.