NBTM New Materials Group Co., Ltd. (SHSE:600114) agreed to acquire 97% stake in Deqing Xinchen New Material Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd., Ke Xin and Ding Xuhong for CNY 190 million on January 17, 2022. Under the terms, As of February 15, 2022, NBTM New Materials Group Co., Ltd. paid 50% of the consideration price which is CNY 97 million. The transaction has been approved by the board of NBTM New Materials Group Co.

and is subject to the approval of their shareholders. As of February 9, 2022, the transaction has been approved by the shareholders of NBTM New Materials Group Co.