Jiangsu Guotai International Group Co., Ltd. (SZSE:002091) signed an agreement to acquire additional 15% stake in Jiangsu Guotai Huatai Industrial Co., Ltd. from Zhangjiagang Fee Trade Zone Shengtai Investment Co., Ltd. for CNY 50.7 million on November 17, 2022. Under the terms of agreement, Jiangsu Guotai International Group will pay the full amount within 30 days from the agreement effective date. After the transaction, Jiangsu Guotai International Group will hold 40% stake and Zhangjiagang Fee Trade Zone Shengtai Investment will hold 0% stake in Jiangsu Guotai Huatai Industrial.

Jiangsu Guotai Huatai Industrial has reported total assets of CNY 644.490225 million and net assets of CNY 342.059659 million on December 31, 2021. The board of Jiangsu Guotai International Group has approved the transaction at 32nd (Extraordinary) Meeting of 8th Directorate held on November 17, 2022 and and does not need the Shareholders' Approval.