Qingdao Haijian Aohua Investment Holding Co., Ltd. agreed to acquire 40.9% stake in Xi'an Aohua Electronic Instrument Co., Ltd. from LandOcean Energy Services Co.,Ltd. (SZSE:300157) and Langfang Xinsaipu Special Equipment Co., Ltd. for approximately CNY 150 million on December 21, 2020. LandOcean intends to transfer 21.7 million shares of Aohua Electronics (the shares are currently pledged to Zheshang Bank Co., Ltd., accounting for 34.2636% of the total share capital of Aohua Electronics) to the buyer at a price of CNY 126.7 million. Langfang Xinsaipu Special Equipment Co., Ltd., intends to transfer its 4.25 million shares of Aohua Electronics (6.7152% of the total share capital of Aohua Electronics) to buyer at CNY 24.8 million. The consideration will be paid in three tranches by Qingdao Haijian Aohua Investment Holding Co., Ltd. On January 12, 2021, the transfer price of the first phase of CNY 90 million paid by Qingdao Haijian Aohua Investment Holding Co., Ltd. has been returned as Judicial re-freezing has caused the shares to be temporarily unable to be transferred and traded. As of June 24, 2021, Qingdao Haijian Aohua Investment Holding won the bid of 21.69 million shares for CNY 126.78 million. In relation to this, at the 36th meeting of the fourth directorate, LandOcean Energy Services Co.,Ltd. approved and planning to sign a supplementary agreement. On December 21, 2020, LandOcean held the 33rd meeting of the fourth board of directors and approved.