Yue Hongwei, Shi Yanbing and Chen Jianjun signed the share transfer agreement to acquire 2.85% stake in Pylon Technologies Co., Ltd. from Guangdong Dynavolt Renewable Energy Technology Co., Ltd. (SZSE:002684) for CNY 26.4 million on December 31, 2019. Under the terms of the transaction, Guangdong Dynavolt Renewable Energy Technology will transfer 3.3 million shares in Pylon Technologies at price of CNY 8 per share. Guangdong Dynavolt will sell 1.9 million shares (1.658% stake) to Yue Hongwei for CNY 15.4 million, 0.92 million shares (0.792% stake) to Shi Yanbing for CNY 7.36 million and 0.46 million shares (0.396% stake) to Chen Jianjun for CNY 3.68 million. As on December 31, 2018, Pylon Technologies had total assets of CNY 481.3 million, Revenue of CNY 377.2 million and net income of CNY 21.8 million. The transaction is approved by the Board of Directors of Guangdong Dynavolt Renewable Energy Technology.

Yue Hongwei, Shi Yanbing and Chen Jianjun cancelled the acquisition of 2.85% stake in Pylon Technologies Co., Ltd. from Guangdong Dynavolt Renewable Energy Technology Co., Ltd. (SZSE:002684) on December 31, 2020.