Fujian Junhe Runda Technology Co., Ltd. agreed to acquire Fujian Haiyuan Huabo Equipment Technology Co., Ltd. from Fujian Haiyuan Composites Technology Co.,Ltd. (SZSE:002529) for approximately CNY 250 million on December 16, 2020. Fujian Junhe Runda Technology Co., Ltd. shall pay CNY100 million within two days from the agreement effective date, CNY 50 million shall be payable before December 30, 2020, CNY 60 payable within 45 days of the completion of transaction, CNY 18.5 million payable within 90 days of completion and CNY 20 million before December 31, 2021. The transaction has been approved by the Board of Directors of Fujian Haiyuan Composites Technology Co.,Ltd, and doesn't needs it shareholders approval.