Suzhou Wuzhong Tiankai Huida Equity Investment Partnership Enterprise (Limited Partnership) signed share transfer agreement to acquire an additional 12.9% stake in Jiangsu Gaoke Petrochemical Co., Ltd (SZSE:002778) from Xu Hanxiang for approximately CNY 430 million on October 29, 2020. Xu Hanxiang, intends to transfer 11.5 million unrestricted shares for CNY 37.55 per share. After the conditions of the first transfer price met and when the transferee receives the transferor’s written notice, 40% of the transfer price shall be paid within ten working days from the date of notification. After the conditions of the second transfer price met and when the transferee receives the transferor’s written notice, 60% of the transfer price shall be paid within ten working days from the date of notification. After the equity change was completed, Xu Hanxiang will no longer the company’s controlling shareholder and Suzhou Wuzhong Tiankai Huida Equity Investment Partnership Enterprise (Limited Partnership) will hold 19.9 million shares accounting for 22.35% of total shares. Suzhou Wuzhong Tiankai Huida Equity Investment Partnership Enterprise (Limited Partnership) completed the acquisition an additional 12.9% stake in Jiangsu Gaoke Petrochemical Co., Ltd (SZSE:002778) from Xu Hanxiang on December 3, 2020.