Guangdong Wens Investment Co., Ltd. (Guangdong Wens) and Shanghai Songyin Wealth Investment Partnership Enterprise (Limited Partnership) (Shanghai Songyin Wealth), a fund managed by Shanghai Songyin Wealth Asset Management Co., Ltd. (Shanghai Songyin Wealth Asset) agreed to acquire 10.95% stake in Hunan Boyun New Materials Co.,Ltd (SZSE:002297) from Hunan Daboyun Investment Partnership Enterprise (Limited Partnership) (Daboyun Investment) for approximately CNY 410 million on July 23, 2020. Under the terms of transaction, Guangdong Wens will acquire 25,837,737 shares, representing 5.48% stake in Hunan Boyun for approximately CNY 200 million and Shanghai Songyin Wealth will acquire 25,790,530 shares, representing 5.47% stake in Hunan Boyun New Materials for approximately CNY 200 million. Post the completion of the transaction, Daboyun Investment will hold 1,235,695 shares in Hunan Boyun, accounting for 0.262% stake; Guangdong Wens will hold a 5.48% stake and Shanghai Songyin Wealth will hold a 5.47% stake.