Zhuhai Port Holding Group Co., Ltd. signed a share transfer agreement to acquire 2.8% stake in Qingdao Tianneng Heavy Industries Co.,Ltd (SZSE:300569) from Zhang Shiqi for approximately CNY 260 million on November 6, 2020. Under the terms of the transaction, Zhuhai Port Holding Group Co., Ltd. will pay CNY 23.27 per share to acquire 11 million shares in Qingdao Tianneng Heavy Industries Co.,Ltd. Within 5 working days from the date of the compliance confirmation letter of the Shenzhen Stock Exchange, CNY 205.5 million shall be paid; within 5 working days from the date of completion of the stock transfer registration procedures for this transfer of shares, CNY 51.4 million shall be paid. In a related transaction, Zhuhai Port Holding Group Co., Ltd. signed a share transfer agreement to acquire 7.3% stake in Qingdao Tianneng Heavy Industries Co.,Ltd (SZSE:300569) from Zheng Xu for approximately CNY 670 million. The transaction still needs Board of Director approval of Zhuhai Port Holding Group Co., Ltd. Zhuhai Port Holding Group Co., Ltd. completed the acquisition of 2.8% stake in Qingdao Tianneng Heavy Industries Co.,Ltd (SZSE:300569) from Zhang Shiqi on December 17, 2020.