Jiangsu Ruitai New Energy Materials Co., Ltd. signed an agreement to acquire 35.42% stake in Jiangsu Guotai Super Power New Materials Co., Ltd. from Jiangsu Guotai International Group Guomao Co., Ltd. (SZSE:002091) and Zhangjiagang Guotai Huarong Chemical Industry New Materials Limited Company for CNY 30.3 million on August 24, 2017. Jiangsu Ruitai New Energy Materials Co., Ltd. will pay the consideration within thirty days after the entry into force of the agreement in a one-time payment. Jiangsu Guotai International Group Guomao Co., Ltd. will sell 21.18% stake for CNY 18.12 million and Zhangjiagang Guotai Huarong Chemical Industry New Materials Limited Company will sell 14.24% stake for CNY 12.18 million.

After the transaction, Jiangsu Guotai International Group Guomao Co., Ltd. and Zhangjiagang Guotai Huarong Chemical Industry New Materials Limited Company will hold no stake in Jiangsu Guotai Super Power New Materials Co., Ltd and Jiangsu Ruitai New Energy Materials Co., Ltd. will hold 35.42% stake in Jiangsu Guotai Super Power New Materials Co., Ltd. On August 24, 2017, the Board of Jiangsu Guotai International Group Guomao Co., Ltd. unanimously approved the transaction. The transaction does not need the approval of the shareholders' meeting.