Wuhu Zhiying Project Investment Partnership (Limited Partnership) agreed to acquire a 98.07% stake in Weihai Baolong Special Petroleum Materials Co., Ltd. from Shandong Molong Petroleum Machinery Company Limited (SEHK:568) and Shouguang Maolong New Materials Technology Development Company Limited for CNY 140 million on January 9, 2024.

Wuhu Zhiying Project Investment Partnership (Limited Partnership) completed the acquisition of 98.07% stake in Weihai Baolong Special Petroleum Materials Co., Ltd. from Shandong Molong Petroleum Machinery Company Limited (SEHK:568) and Shouguang Maolong New Materials Technology Development Company Limited on March 13, 2024.