Chen Zhe signed the share transfer agreement to acquire 5.002402% stakes in Junhe Pumps Holding Co., Ltd (SHSE:603617) from Ningbo Junhe Investment Holdings Co., Ltd. for CNY 169.818 million on July 29, 2022. Under the terms, Chen Zhe will acquire 18.26 million shares at a price of CNY 9.30 per share. The first transfer price is CNY 50 million.

The remaining transfer price should be paid within 6 months from the date of signing the agreement.