Hunan Sokan New Materials Co., Ltd. (SHSE:688157) agreed to acquire 80% stake in Hunan Xinyichen Technology Co., Ltd. from Tang Hua for CNY 3.6 million on April 12, 2021. In the acquisition, Hunan Sokan New Materials Co., Ltd. (SHSE:688157) will pay the first payment of CNY 1.50 million and Within 15 working days after the completion of the registration modification, the company will pay the remaining balance of CNY 2.10 million. As of February 28, 2021, Hunan Xinyichen Technology Co., Ltd. recorded total assets of CNY 5.3 million and nets assets of CNY 4.2 million. The transaction has been approved by Board of Directors of Hunan Sokan New Materials Co., Ltd. (SHSE:688157).