Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. signed share purchase agreement to acquire 85% stake in Liaoyuan Hongtu Lithium-ion Battery Separator Technology Co., Ltd. from Jilin Jinguan Electric Co., Ltd. (SZSE:300510) for approximately CNY 580 million on December 23, 2020. Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. has paid a deposit of CNY 43.8 million and will pay the remaining amount within 1 year. In separate transaction, Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. signed share purchase agreement to acquire 85% stake in Huzhou Jinguan Hongtu Membrane Technology Co., Ltd. from Jilin Jinguan Electric Co., Ltd. (SZSE:300510) for approximately CNY 120 million. Within 15 days after the contract becomes effective, the transfer will be completed. Jilin Jinguan Electric held the 10th Meeting of the 5th Directorate and the 1st Extraordinary Shareholders Meeting of 2020, respectively, and approved the public listing transfer of Liaoyuan Hongtu Lithium-ion Battery Separator Technology Co., Ltd. and Huzhou Jinguan Hongtu Membrane Technology Co., Ltd.’s 85% stakes.