Haitian Plastics Machinery Group Co., Ltd. entered into agreement to acquire Automatic Processing Line, CNC Turning Machines, Machining Centres and Related Equipment from Ningbo Haitian Precision Machinery Co., Ltd. for approximately RMB154.67 million.

Haitian Plastics Machinery Group Co., Ltd. entered into agreement to acquire Automatic Processing Line, CNC Turning Machines, Machining Centres and Related Equipment from Ningbo Haitian Precision Machinery Co., Ltd. (SHSE:601882) for approximately RMB154.67 million on March 22, 2022. The payment term is by installment payments. The consideration terms are 30% of the purchase price of each order will be paid within 7 days after the relevant purchase order, 60% of the purchase price of each order will be paid within 7 days before delivery of the relevant equipment and 10% of the purchase price of each order will be paid within one year of delivery.

The consideration for the purchase of the processing line, machines and equipment shall be paid out of the internal resources of the Group.