Shandong Haike Holdings Co., Ltd. agreed to acquire a 24.33% stake in Shandong Huapeng Glass Co.,Ltd. (SHSE:603021) from Zhang Dehua for approximately CNY 550 million on October 21, 2022. Under the terms, Shandong Haike Holdings Co., Ltd. acquire 77,853,056 shares of Shandong Huapeng Glass at a price of CNY 7.09 per share. As on January 18, 2023, Shandong Haike Holdings acquired some of the stake in Shandong Huapeng.

Transaction is subject to approval of the state-owned assets transfer rights and anti-monopoly review. As of December 16, 2022, Transaction has received approval from State Administration for Market Regulation.