Zhang Chuquan signed the share transfer agreement to acquire additional 5% stake in HMT New Technical Materials Co., Ltd from Kingsway International Limited for approximately CNY 300 million.

Zhang Chuquan signed the share transfer agreement to acquire additional 5% stake in HMT (Xiamen) New Technical Materials Co., Ltd (SHSE:603306) from Kingsway International Limited for approximately CNY 300 million on December 11, 2020. As per the terms of the transaction, Zhang Chuquan shall acquire 15.4 million shares in HMT (Xiamen) New Technical Materials Co., Ltd at a price of CNY 19.7 per share.