Zhejiang Jiahong Asset Management Co., Ltd. signed an agreement to acquire 5.2% stake from Shanghai Hongli Equity Investment Co., Ltd. for approximately 170 million CNY on August 27, 2021. Under the terms, Zhejiang Jiahong Asset Management will acquire 6.5 million shares of JiangSu Zhenjiang New Energy for CNY 25.98 per share. Shanghai Hongli Equity Investment will pay CNY 20 million with 3 days of signing agreement, within 3 days from the date when the Exchange issued a confirmation opinion on the application for the transfer of the target shares meeting the conditions and agreed to the transfer of the target shares will pay CNY 119.75 million and rest after completion of transfer of shares both parties shall separately negotiate the specific payment time and method of payment for remaining CNY 29.12 million. As of August 31, 2021, Shanghai Hongli Equity Investment paid CNY 119.75 million. Zhejiang Jiahong Asset Management Co., Ltd. completed the acquisition of 5.2% stake from Shanghai Hongli Equity Investment Co., Ltd. on September 8, 2021.