Zhuhai Yucheng Investment Center agreed to acquire an 11% stake in Yundu New Energy Automobile Co., Ltd. from Jiangxi Haiyuan Composites Technology Co.,Ltd. (SZSE:002529) for CNY 22 million on April 12, 2022. Zhuhai Yucheng Investment Center will pay an initial deposit of CNY 5 million and the remaining CNY 17 million will be settled at completion of the transaction. As on March 31, 2022, Yundu New Energy Automobile had total assets of approximately CNY 1.65 billion and a negative net worth of CNY 30.79 million. The transaction is subject to approval by shareholders of Jiangxi Haiyuan Composites Technology. The transaction has been approved by the board of Jiangxi Haiyuan Composites Technology. As on April 29, 2022, the transaction has been approved by the shareholders of Jiangxi Haiyuan Composites.