Shen Yunzhi agreed to acquire an additional 33% stake in Shenzhen DR Electronics Co., Ltd. from New Trend International Logis-Tech Co.,Ltd. (SZSE:300532) for CNY 32 million on October 23, 2020. Under the terms of the transaction, the consideration is CNY 32 million and Shen Yunzhi shall pay New Trend International Logis-Tech Co.,Ltd. in full in six installments before June 30, 2024. The basic consideration for this transaction is CNY 32 million. If Shenzhen DR Electronics Co., Ltd. successfully introduces strategic investors, the transaction price will be increased by CNY 4 million to CNY 36 million. If strategic investors are successfully introduced during the payment period of the equity repurchase price, through friendly negotiation, the payment time of the above installment payment shall be advanced accordingly. New Trend International Logis-Tech Co.,Ltd. should also enjoy a profit dividend of CNY 11 million during the period of holding the shares of Shenzhen DR Electronics Co., Ltd. and it promised to distribute and pay the aforementioned profits to New Trend International Logis-Tech Co.,Ltd. Post-closing, Shen Yunzhi will hold 89% stake and New Trend International Logis-Tech Co.,Ltd. will not hold any stake in Shenzhen DR Electronics Co., Ltd, respectively. On October 18, 2021, New Trend International received the "Letter of Commitment on Negotiating Delay in Payment of Equity Repurchase Payments" signed by Shen Yunzhi, applying for deferment of payment of the equity repurchase price and profit distribution due in October 2021, totaling CNY 10 million, promised to pay the payment before December 25, 2021. As of March 9, 2022, New Trend International received CNY 16 million and has recently completed the industrial and commercial registration procedures for the release of the 10% equity stake OF Shenzhen DR Electronics and still enjoys the pledge of 10% equity of Shenzhen DR Electronics.

As of June 30, 2020, Shenzhen DR Electronics Co., Ltd. had total assets of CNY 50.01 million and total owners' equity of CNY 32.3 million. On October 23, 2020, the transaction was reviewed and approved at the eighth meeting of the fourth Board of Directors of New Trend International Logis-Tech Co.,Ltd. The independent directors of New Trend International Logis-Tech Co.,Ltd. issued agreed independent opinions. Piao Detian and Shen Xuanguo are guarantors in the transaction.

Shen Yunzhi completed the acquisition of additional 33% stake in Shenzhen DR Electronics Co., Ltd. from New Trend International Logis-Tech Co.,Ltd. (SZSE:300532) on February 15, 2023.