Luoyang Guohong signed a framework agreement to acquire 14.6% stake in Saimo Technology Co., Ltd. (SZSE:300466) from Li Da, Li Ran, Wang Qian and Huatai Securities (Shanghai) Asset Management Co., Ltd. on June 5, 2020. Luoyang Guohong will acquire 78.5 million shares of Saimo Technology Co., Ltd. Li Da will sell 30.1 million shares amounting to 5.6% stake, Li Ran will sell 7.4 million shares amounting to 1.4% stake, Wang Qian will sell 7.7 million shares amounting to 1.4% stake and Huatai Securities (Shanghai) Asset Management Co., Ltd. will sell 33.3 million shares amounting to 6.2% stake in Saimo Technology Co., Ltd. Prior to the transaction, Li Da held 120.5 million shares amounting to 22.4% stake and after the transaction, Li Da will hold 90.4 million shares amounting to 16.8% stake, Li Ran held 41.8 million shares amounting to 7.8% stake and after the transaction, Li Ran will hold 34.4 million shares amounting to 6.4% stake, Wang Qian held 30.6 million shares amounting to 5.7% stake and after the transaction, Wang Qian will hold 23 million shares amounting to 4.3% stake and Huatai Securities (Shanghai) Asset Management Co., Ltd. held 33.3 million shares amounting to 6.2% stake and after the transaction will hold no stake in Saimo Technology Co., Ltd.