Nanchang Longhou Industrial Co., Ltd. signed a share transfer agreement to acquire a 8.5% stake in Jiangxi Selon Industrial Co., Ltd. (SZSE:002748) from New World Finechem Investment Limited for approximately CNY 130 million on June 15, 2021. Under the transaction, Nanchang Longhou Industrial Co., Ltd. will acquire 20.4 million A shares of Jiangxi Selon Industrial Co., Ltd. Out of the total consideration, CNY 100 million will be paid within five working days of the agreement and remaining CNY 25.664 million will be paid within 5 working days from transfer of shares. Post transaction, New World Finechem Investment Limited will hold 0.0012% stake in Jiangxi Selon Industrial Co., Ltd. On August 6, 2021, Nanchang Longhou Industrial Co., Ltd. and New World Finechem Investment Limited signed a supplement agreement agreeing to adjust the payment terms within 3 working days from this agreement's effective date, New World Finechem Investment Limited will pay CNY 50 million, within 3 working days from this agreement's effective date, the parties will supervise New World Finechem Investment Limited's designated bank account for the other CNY 50 million and the parties will sign the capital supervision agreement attached to the supplementary agreement with the Boyang branch of Jiujiang Bank for the supervision of the second share transfer payment and within 5 working days from the completion of the transfer, New World Finechem Investment Limited will pay the remaining amount.